Public Company Limited 1 Over View 2 Our Power Business 3 Our - - PowerPoint PPT Presentation

Energy Absolute Public Company Limited

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1 2 3 4

Over View

Our Power Business Our Biodiesel Business Our Financial Results

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Our Growth

E@ at a Glance

Established In 2006 to produce palm oil Core Business Renewable Energy Secondary Market The Stock Exchange of Thailand since 30 Jan 2013 Market Capitalization

As of 25 July 2017

Approximately THB 138.01 billion (US$ 4.6 billion) Included in the SET50 index from 1 July 2017 onwards Liquidity Free Float 39.86%

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Closed price : THB/share ‘000 shares

50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000 0.00 5.00 10.00 15.00 20.00 25.00 30.00 35.00 40.00 Total Volume Closed Price

40% 3% 5% 52%

As of 14 March 2017

Somphote Ahunai (CEO) Amorn Sapthaweekul (CFO) BBL AM Others

Shareholder Structure

Number of Total Shareholders = 8,223 Education

• MBA from University of Pittsburgh, USA
• Bachelor of Engineering from Chulalongkorn University, Thailand

Previous Work

• Analyst and Researcher in USA.
• Managing Director of a Securities Brokerage company in

Thailand

• Managing Director of a Renewable Energy company in

Thailand 4 Mr.Somphote Ahunai Chief Executive Officer Education

• Master of Science from Chulalongkorn University, Thailand
• Bachelor of Business Administration

(Finance and Banking) from Thammasat University, Thailand Previous Work

• Investment Banker and Financial Advisor,
• Director in a Renewable Energy company

Mr.Amorn Sapthaweekul Deputy to CEO and Chief Finance Officer

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Opportunity Base on AEDP 2015-2036

Alternative Energy Development Plan : AEDP 2015-2036

Target of Alternative Energy = 30% in 2036

Solar 6,000 MW Wind 3,002 MW Mini Hydro 376 MW Hydro 2,906.4 MW Bioenergy Biomass 5,570 MW Biogas 600 MW Waste 500 MW Energy Corp 680 MW Industrial Waste 50 MW Biofuel

• Ethanol 11.3 ML/d
• Biodiesel 14 ML/d
• CBG 4,800 Ton/d
• Pyrolysis Oil 0.53 ML/d

source : The Energy Regulatory Commission (ERC)

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In order to support investment in alternative energy according to AEDP, BOI has granted tax privilege. Tax exemptions for the first 8 years and half of tax rate for year 9th to 13th

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0% 50% of normal rate normal rate

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Our Growth and New Business

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Strong Contribution of Power Business

57% 43% 47% 53%

2015 2016 2Q/2017

Revenue

2013 2014 2015 2016 2Q/2017 THB mil. % THB mil. % THB mil. % THB mil. % THB mil. % Biodiesel Business 3,733 93% 5,396 71% 5,242 57% 4,890 47% 2,253 40% Power Business 203 5% 2,187 29% 3,956 43% 5,491 53% 3,326 59% Other income 63 2% 18 0% 15 0% 58 1% 34 1% Total Revenue 3,999 7,601 9,212 10,439 53% 5,613

40% 59% 1% 9% 91%

Revenue Net Profit

1% 99% 0% 100%

Biodiesel Business Power Business

EA is a operational holding company, thus net profit of biodiesel business is including administrative expenses of the group.

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1 2 3 4

Over View

Our Power Business

Our Biodiesel Business Our Financial Results 664 MW

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Our Growth

Project Pipeline

Solar

+ 8 MW + 90 MW + 90 MW + 90 MW

Lopburi Nakorn- sawan Lampang Phitsanu- lok

Wind

Had Kanghan (Songkhla and Nakornsritammarat)

126 MW

Hanuman (Chaiyaphum)

+ 260 MW

F2018

Solar 42% Wind 58%

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8 98 98 188 278 404 664 MW

278 MW 386 MW

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Electricity Price Structure

Base Tariff Adder

10 years from COD

Ft

Fuel Adjustment Charge

Baht/ kWh

8 Bt.

Lopburi 8 mw Until Oct 2022

6.5 Bt.

Nakornsawan 90 mw Until Dec 2023 Lampang 90 mw Until Feb 2025

Phitsanulok 90 mw Until Apr 2026

3.5 Bt.

HKH 1 = 36 mw Until Mar 2027 HKH 2&3 =90 mw Until Jun 2027 Hanuman Projects 260 mw

• 0.2477 Bt./kWh

for May – Aug 2017 Peak Time:

Weekdays 09.00 –22.00

4.22 Bt./kWh

Off-Peak Time:

Weekdays 22.00 – 09.00 + Weekend + Holidays

2.36 Bt./kWh

Solar Solar Wind

* From Sep 2017 will be

• 0.159 Bt./kWh

Solar Power

278 MW

Nakornsawan (THB 6.7 bil)

Contracted Cap: 90 MW Installed Cap : 126.126 MW Technology: Fixed system COD : 23 Dec 2013 Land area: 1,858 Rais (735 acres) Adder : 6.50 baht/kwh

Lopburi (THB 812 mil)

Contracted Cap: 8 MW Installed Cap : 9.33 MW Technology: Fixed System COD : 17 Oct 2012 Land area: 315 Rais (124.5 acres) Adder : 8 baht/kwh

Phitsanulok (THB 9.5 bil)

Contracted Cap: 90 MW Installed Cap : 133.92 MW Technology: Tracking system COD : 1 Apr 2016 Land area : 1,800 Rais (732 acres) Adder : 6.50 baht/kwh

Lampang (THB 8.07 bil)

Contracted Cap: 90 MW Installed Cap : 128.396 MW Technology: Tracking system COD : 17 Feb 2015 Land area : 2,354 Rais (930 acres) Adder : 6.50 baht/kwh

1 2 3 4

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Note : 1 acre = 2.529 rais

Hanuman : HNM (Chaiyaphum) THB 20 bil.

Contracted Cap: 260 MW SCOD : Q2-3/2018 Adder : 3.50 baht/kwh Status: During Construction

Wind Power

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386 MW

Hadkanghan : HKH (East Coast Southern) THB 10.4 bil.

Contracted Cap: 126 MW COD : HKH 1 = 36 MW COD 3 Mar 17 HKH 2 = 45 MW COD 10 Jun 17 HKH 3 = 45 MW COD 23 Jun 17 Adder : 3.50 baht/kwh

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Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec P90 (Base case) P50 (Best case)

Seasonal of wind in Thailand

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Lopburi Solar Farm 8 MW

Unit : kWh/day

ESLO : COD 17 Oct 2012 2015 2016 2Q_2016 2Q_2017

Total Power Output (kWh) 14.6 mil. 13.9 mil. 7.11 mil. 6.91 mil. Average Daily Output (kWh) 39,893 37,867 39,077 38,232

• 5,000

10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Daily AVG 2014 Daily AVG 2015 Daily AVG 2016 Daily AVG 2017

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Nakornsawan Solar Farm 90 MW

Unit : kWh/day

ESN : COD 23 Dec 2013 2015 2016 2Q_2016 2Q_2017

Total Power Output (kWh) 189.6 mil. 189.1 mil. 97.23 mil. 95.49 mil. Average Daily Output (kWh) 520,763 516,755 534,499 528,730

• 100,000

200,000 300,000 400,000 500,000 600,000 700,000 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Daily AVG 2014 Daily AVG 2015 Daily AVG 2016 Daily AVG 2017

15 Unit : kWh/day

Lampang Solar Farm 90 MW

ESL : COD 17 Feb 2015 2015 2016 2Q_2016 2Q_2017

Total Power Output (kWh) 191.3 mil. 197.9 mil. 105.48 mil. 109.26 mil. Average Daily Output (kWh) 601,474 540,737 583,399 604,978

100000 200000 300000 400000 500000 600000 700000 800000 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Daily AVG 2015 Daily AVG 2016 Daily AVG 2017

16 Unit : kWh/day

Phitsanulok Solar Farm 90 MW

ESP : COD 1 Apr 2016 2016 2Q_2016 2Q_2017

Total Power Output (kWh) 165.6 mil. 60.11 mil. 118.58 Average Daily Output (kWh) 602,221 652,010 656,060

100000 200000 300000 400000 500000 600000 700000 800000 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Daily AVG 2016 Daily AVG 2017

Higher Output from Sun Tracking System

17 Tracker

Fixed

100000 200000 300000 400000 500000 600000 700000 APR-DEC 2016 JAN-JUN 2017 513,695 528,730 602,221 656,060 Nakornsawan Phitsanulok (Tracking)

Daily Average : kWh

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Unit : kWh/day

Hadkanghan Wind Farm 126 MW

HKH1 : 36 MWh 3 Mar-31 Jul

Total Power Output (kWh) 20.42 mil. Average Daily Output (kWh) 143,778 Average Wind Speed (M/Sec) 4.77 Average Power Efficiency 16.64%

Unit : Meter/Second

0.00 2.00 4.00 6.00 8.00 10.00 12.00 100,000 200,000 300,000 400,000 500,000 600,000

HKH2 : 45 MWh 10 Jun-31 Jul Total Power Output (kWh) 16.86 mil. Average Daily Output (kWh) 324,292 Average Wind Speed (M/Sec) 6.00 Average Power Efficiency 30.0%

0.00 2.00 4.00 6.00 8.00 10.00 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 0.00 2.00 4.00 6.00 8.00 10.00 12.00 200,000 400,000 600,000 800,000 1,000,000

HKH3 : 45 MWh 23 Jun-31 Jul Total Power Output (kWh) 15.22 mil. Average Daily Output (kWh) 390,292 Average Wind Speed (M/Sec) 6.30 Average Power Efficiency 36.10%

50 100 150 200 2014 2015 2016 2017 56 119 165

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52 76 105 166 51 98 144 53 103 152

Q1 Q2 Q3 Q4

Quarterly Power Output

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• High production from Solar Power Plant is in

Q2 and low in Q3

• EA’s highest output in Q2/2017 resulted from

high season of solar power and COD of 126 MW Wind Power Plant with strong power efficiency.

Unit : Mil. kWh

330,245,165, 93% 23,542,103, 7%

Solar Wind

Solar 278 MW Wind 126 MW Total Contract Capacity

Actual power production 2Q2017

• Located in Chaiyaphum province
• Current Status :

 ALRC issued a letter to confirm that there is no cause to revoke ALR rental contract with EA to build wind farm projects and the project could continue  Started construction : Earth work and Facilities  Fund sourcing

• Adder 3.50 Baht/kWh for 10 years
• Project Cost : THB 20 billion
• Project Specification

 87 sets of Wind Turbine Generator at 2.96 MW each  Hub height not less than 157 m.  Blade length not less than 67 m.  Cut in wind speed = 3 m/sec

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Hanuman Wind Farm 260 MW

Sub-Project Capacity (MW) SCOD Hanuman 1 45 APR 2018 Hanuman 5 48 MAY 2018 Hanuman 8 45 APR 2018 Hanuman 9 42 MAY 2018 Hanuman 10 80 JUN 2018 Chaiyaphum

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1 2 3 4

Over View Our Power Business

Our Biodiesel Business

Our Financial Results

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Our Growth

Location Kabinburi Industrial Estate, Prachinburi under BOI promotion & privileges Plant Capacity

• Biodiesel 800,000 Liters per day
• Refined Glycerin 80 Tons per day by product)

Certificate Certificate Number

TNI-SC-F-1201 53866/A/0001/UK/En (Head Office) 53866/A/0002/UK/En (Factory) 79935/A/0001/UK/En 79935/B/0001/UK/En ISO 9001 : 2008

Biodiesel Production

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ISO 14001 : 2015 OHSAS 18001 : 2007

(Occupational Health and Safety Management System)

Strong Customer Base Sales Volume of B100

Biodiesel (B100)

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(In Million liters) %Gross margin 4.35% 3.96% 5.05% 5.26% 8.15% 7.09% 1.89% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 20 40 60 80 100 120 140 160 180 200 Sales Volume GPM (%)

• Blending of B100 to high speed diesel in 2017
• 1 Jan to 7 May = 5%
• 8 May onwards = 7%
• Gross profit margin of glycerin = 57.78%

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1 2 3 4

Over View Our Power Business Our Biodiesel Business

Our Financial Results

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Our Growth

• 10,000

20,000 30,000 40,000 50,000 2011 2012 2013 2014 2015 2016 Q2/2017

1,017 1,142 4,363 5,897 8,510 11,389 12,770 708 1,403 7,103 13,429 24,547 30,118 30,171 Total Liabilities Shareholder's Equity

Capital Structure

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2012

• Oct : COD of ESLO, 8 MW solar power plant

2013

• Dec : COD of ESN, 90 MW solar power plant

2014

• Construction of ESL, 90 MW solar power plant which started COD in Feb 2015

2015

• Construction of ESP, 90 MW solar power plant which started COD in Apr 2016
• Construction of HKH, 126 MW wind power plant which started COD in Mar and Jun 2017

2016

• Jul : Issued THB 8 bil. bond to refinance project loan of ESLO + ESN and investing in new project with interest rate at

2.22% to 2.37% Q2/2017

• Jun : COD of HKH2 (45 MW) and HKH3 (45 MW)
• Construction of HNM, 260 MW wind power plant
• Preparing to issue THB 20 bil. bond to refinance project loan of ESL+ ESP + HKH and new investment

2.64 times 2.88 times 2.28 times 1.63 times 1.23 times 0.70 times

THB mil.

2.36 times

1,725 2,545 11,466 19,326 33,057 41,507 42,941

Debt to Equity

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Revenue and Net Profit

2000 4000 6000 8000 10000 12000 2011 2012 2013 2014 2015 2016 2Q/2017 5,431 4,479 3,999 7,601 9,212 10,439

5,613

1000 2000 3000 4000 2011 2012 2013 2014 2015 2016 2Q/2017

63 107 268 1,608 2,688 3,252

1,946

Revenue

THB Mil.

Net Profit

B100 : For 6M 2017, the revenues decreased by THB 683.15 mil. (or 24%) due to

• The sales volumes reduced by 16.23% resulted

from the government policy to reduce B100 proportion in high-speed diesel to 5% although at the beginning of the 2nd quarter of 2017, it was adjusted to 7%. (6M 2016 the proportion of blending was at 7%.)

• The lower of selling price due to lower of raw

material price. The gross profit margin for 6M 2017 was 1.9% Pure glycerin : For 6M 2017, the revenues increased by THB 3.46 mil (or 3.35%) due to the higher of selling price. The gross profit margin for 6M 2017 was 57.8% Power : For 6M 2017, the revenues increased by THB 696.83 mil (or 26.51%) due to

• Phisanulok 90 MW solar power plant started

COD on 1 April 2016

• Hadkanghan 1, 2 and 3 wind power plant for

total of 126 MW started COD on 3 March, 10 June and 23 June 2017 respectively

• Average selling price of electricity unit from solar

was THB 9.60 and wind was THB 6.21 The gross margin for 6M 2017 was 77.9% and EBITDA margin was 95.3%

THB Mil.

2000 4000 6000 8000 10000 12000 2011 2012 2013 2014 2015 2016 2Q/2017

3,114 3,133 3,343 4,991 5,005 4,721 2,146 79 18 145 231 220 169 107 35 203 2,187 3,956 5,491 3,326 1,150 808 104 1,056 366

Biodiesel Glycerin Power Others High Speed Diesel LPG

Revenue structure

27 THB mil.

• Ceased trading of LPG and High Speed Diesel since 2013 and 2014 respectively because of low margin
• Started operation of the first Solar Power Plant in October 2012 with contract capacity of 8 MW
• Currently, revenue from power business contributed from 4 Solar Power Plants = 278 MW and 3 Wind

Power Plants = 126 MW

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Effects on 2Q/2017 Net Profit

Solar Gross Profit Increase

1,704 2,591 98 41

• 7
• 288

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• 533

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1,946

Net Profit 2Q/Y2016 Power Gross Profit Biodiesel Gross Profit Other Revenue Share of Loss in investment SG&A FX Gain (Loss) Financial Cost Tax Net Profit 2Q/2017

THB Mil.

• Administrative expenses, for 6M 2017 was THB 261.41 mil, increase THB 62.11 mil (or 31.16%) due to the

increase of personnel expenses and other expenses to support the expansion of business.

• Financial costs for 6M 2017 was THB 532.84 mil, increase THB 95.97 mil (or 21.97%) due to a 90-MW solar

power plant in Phisanulok province and 126-MW wind power plants were completed construction and started

• peration. Hence, the financial cost incurred thereafter shall be recorded as expense.

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Over View Our Power Business Our Biodiesel Business

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Our Growth

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Our Financial Results

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Our Growth and New Business

About Amita Technologies Inc.

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• Amita Technologies Inc. was established in March 2000 by Dr. Jim Cherng on lithium-ion power battery with

strong material science research and long test data accumulation.

• Main Businesses
• High Power Battery for EV, E-Scooter, Power Plant
• OEM (Original Equipment Manufacturer)
• PDCA- Post Dry Cell Battery
• Turnkeys of High Technology Battery Factory for EV

 Bejing Phase 1 – already completed  Bejing Phase 2 – during construction

• Current production capacity and capability : 44Ah power battery cell or over 500MWh per year
• Shareholders structure : Currently, EA holds 35.2%
• Main Clients : UPS Units, Power Bank, Power Tools,

Battery- powered Vehicles, and Energy Storage

• Europe: EV (Electric Vehicle)
• Taiwan: E-Scooter
• Japanese: ESS (Energy Storage Systems)
• China: Turnkey :

Core Competence

High safety Additive material High energy density material Fully automatic production line Battery cell design

 Patented international award-winning STOBA (R&D 100 Awards in 2009) safety technologies from ITRI  Accumulated 17 years of battery cell automatic production line (R&D) design and infrastructure  Ability to design products using our own stacking procedures  High energy active materials  High energy power cell design techniques

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• Main Clients : UPS Units, Power Bank, Power Tools,

Battery- powered Vehicles, and Energy Storage

• Europe: EV (Electric Vehicle)
• Taiwan: E-Scooter
• Japanese: ESS (Energy Storage Systems)
• China: Turnkey

Summary of Lithium-based Batteries

Chemistry Lithium Cobalt Oxide (LCO) Lithium Manganese Oxide (LMO) Lithium Nickel Cobalt Aluminum Oxide (NCA) Lithium Iron Phosphate (LFP) Lithium Nickel Manganese (NMC) Lithium Titanate (LTO) Cycle life (ideal) 500–1000 300–700 500 1,000–2,000 1,000–2,000 3,000–10,000 History 1991 (Sony) 1996 1999 1996 2008 2008

Applications

Mobile phones, tablets, laptops, cameras Power tools, medical devices, powertrains Medical, industrial, EV (Tesla) Stationary with high currents and endurance E-bikes, medical devices, EVs, industrial UPS, EV, solar street lighting Comments High energy, limited power. Market share has stabilized. High power, less capacity; safer than Li-cobalt;

• ften mixed with

NMC to improve performance. Highest capacity with moderate

• power. Similar to

Li-cobalt. Flat discharge voltage, high power low capacity, very safe; elevated self-discharge. High capacity and high power. Market share is

• increasing. Also

NCM, CMN, MNC, MCN Long life, fast charge, wide temperature range and safe. Low capacity, expensive.

Source :www.batteryuniversity.com

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Technology of Li-ion Battery

Lithium Iron Phosphate Lithium Nickel Manganese Cobalt Oxide (NMC) Lithium Titanium Oxide

Source :www.batteryuniversity.com

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50 GWh Energy Storage Factory

The production in Phase I at 1 GWh will be served to power plant to stabilize production and distribution both domestically and internationally.

2017 Phase I : Start construction of 1 GWh worth THB 2 bil Q1/2019 Phase I : Start commercial

• peration

2021 Phase II : Start commercial

• peration of

49 GWh worth THB 98 bil

The production in Phase II to reach to total of 50 GWh will cover to other industries including EV.

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Example Of Solar System + Battery at 50 MWh

• Install Solar System at 200 MW (20% efficiency)
• Install battery for the total of 750 MW
• To serve 50 MWh for 24 hours

20 40 60 80 100 120 140 160 180 200 0:00 1:00 2:00 3:00 4:00 5:00 6:00 7:00 8:00 9:00 10:00 11:00 12:00 13:00 14:00 15:00 16:00 17:00 18:00 19:00 20:00 21:00 22:00 23:00 0:00 Solar Direct From Storage

Discharge Discharge Charge

• This model is suitable for remote

area i.e. island, mountain, rural, desert to serve independently. Thus it can help reduce the huge investment cost in electrical transmission line from main power plant.

50 MWh

1 MWh

MWh

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Lithium Supply

• Dominated by

– Australian hard-rock production (Greenbushes) – South American brine deposits in Argentina and Chile

• The market is currently dominated by a small number of companies

which control around 50% of supply – Albemarle (ALB US), which owns Rockwood Lithium – SQM (SQM US) – FMC (FMC US) – Chengdu Tianqi

• New supply ramp-up has also experienced challenges and delays, such

as at Orocobre’s operations in Argentina.

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MOU signing between the Federal of Thai Industries (FTI) and Industrial Estate Authority of Thailand (IEAT) to support EA’s Energy Storage Factory as the Quick- win Project under Thailand 4.0 model. The factory is targeted to be located in the EEC MOU signing ceremony on 11 Apr 2017

EA’s 50 GWh energy storage factory is strongly supported by the government.

MOU signing between the Industrial Technology Research Institute (ITRI), EA and Amita, Taiwan to co-develop new technology of battery with high safety for EA’s new battery factory, the 50 GWh factory ITRI, a nonprofit R&D organization of Taiwan, has played a vital role in Taiwan's economic growth, strengthen capabilities of multidisciplinary innovation and cooperation with international partners all over the world. MOU signing ceremony on 30 May 2017

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EV Charging station business

Our charging station network will cover the whole country for more than 1000 stations within two years. Fully operated via mobile application and

• nline system

High standard charging station and available for any EV car

EA Anywhere Electric for Any Cars

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https://www.eaanywhere.com

Three phase AC charging pile series products, mainly provide fast charging service to those EVs equipped with 3 phase

• nboard charger, besides single phase AC charging.

Compare to DC charging station, which has the advantages

• f less investment, smaller land occupation, charging fast and

good quality. Be compatible to the communication protocol of latest version of EU standard.

Now available at Siam Paragon, and many more is coming

Energy Absolute PCL THANK YOU

Our Vision

A leader in alternative energy business, by using the modern technology and environmentally friendly for the best benefit of consumers, shareholders, partners and fairness to employees.