MAKING GREEN HAPPEN Investor presentation 31.08.2018 - LocalEnergy Hydrogen Insight
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Local Energy Hydrogen Insight
MAKING GREEN HAPPEN
Investor presentation 31.08.2018
Making Green Happen
Content Vision and values Company structure / Shareholders Employees /Board / Network Projects / Company activities Investment information Risk factors
Sustainable development goals
2030 Vision Contributed to a significant reduction in fossil emissions Well established corporation who deliver positive results and has a valuation of 100 Billion NOK. Knowledge about technology, energy and climate change is the key asset Dominant supplier of green Hydrogen in Norway and has a significant role in the global market. Strong position as a supplier of local energy services. Delivers value chain products and services within the maritime sector. Most attractive company to work for, recruits the best candidates. Most satisfied and healthiest employees. Owned by the people of Norway and green investors around the world. Significant increase in share value for early investors. Attractive investment opportunity for funds and heavy investors.
Values Green Mindset Responsive Entrepreneurship Expertise New Thinking
Greenstat’s green «frame»
• Zero emission
• Solely green projects
Coal • Lang term CCS
• Technological independent
• Politically neutral
• Develop talents
• Live as we speak
Natural gas Oil
• Earn money
Vision and values Company structure / Shareholders Employees /Board / Network Projects / Company activities Investment information Risk factors
Company structure
Level 1:
Top company
GREENSTAT AS (2015) shall develop projects and
companies related to sustainable energy and
technology that accelerates the transition from fossil to
renewable energy usage. Greenstat will also make
strategic investments in other green companies.
Level 2: GREENMAKERS
Area companies
AS
GREENSTAT HYDROGEN AS GREENSTAT ENERGY AS (2018) GREENSIGHT AS (2016) GREENMAKERS AS (2017)
(2017) develops projects and makes EPC- Energy Performance Contracting. Energy analysis, scenarios, knowledge Project development and execution,
investments related to production, Local energy production, energy based decision support for the specialized green expert teams.
distribution and consumption of green efficiency and energy services. transition to a green society.
hydrogen. Green hydrogen is defined
as hydrogen produced from
renewable energy sources.
Level 3: Hydrogen Viking
Project companies AS
GREENSTAT GLOMFJORD AS HYDROGEN VIKING AS (2017)
(2016) Project company related to the
Hydrogen projects in Nordland worlds first hydrogen yacht.
county.
Subsidiaries and ownership in other
companies
Greenstat
Company Founded ownership Other owners
Greensight AS 2016 100 %
Greenstat Hydrogen AS 2017 100 %
Greenstat Energy AS 2018 100 %
Greenmakers AS 2017 67 % SMAO AS 33 %
NEL 28,5 %, Meløy Energi 28,5 %,
Glomfjord Hydrogen AS 2016 28,5 % MNU 14,5 %
Hydrogen Viking AS 2017 33 % Prototech 33%, Pegi 33 %Shareholder information
Pre emission, per 31.08.2018 Post emission, October 2018
Low end High end
Number of shares: 9 965 065
Pre money evaluation: 17,9 MNOK
New shares: 300 000 New shares: 4 232 532
Total number of shares: 10 265 065 Total number of shares: 14 197 597
Post money evaluation: 18,5 MNOK Post money evaluation: 22,6 MNOK
Shareholders Shares Ownership Shareholders Shares Ownership Shareholders Shares Ownership
Minor investorsVision and values Company structure / Shareholders Employees /Board / Network Projects / Company activities Investment information Risk factors
Key people
Vegard Frihammer Hilde Holdhus Tomas Fiksdal Alexander Svanbring
Green Executive Officer/ founder Acting manager of Greenstat Chief Project Manager Project Manager Greenstat Energy
(sept 2018-may 2019) Greenstat Energy
Manager of GreensightBoard
Bernt Skeie Christine Tørklep Bjørn Frode Skaar
Board member Board member
Executive ChairmanThe Zero Emission Team Fun fact: Did you know that when placing the Greenstat business cards together they form a zero? Creative design by: Jostein Sanders, ETN
Network Greenstat sees great value in utilizing existing competence clusters and groups. Some of the organisations where Greenstat is an active member: • NCE Maritime Cleantech – link • Norsk Hydrogenforum - link • Klimapartnere Hordaland - link • Bergen chamber of commerce - link • Design Arena Bergen - link • Bergen.Works - link • ByNature – link • bGreen - link
Vision and values Company structure / Shareholders Employees /Board / Network Projects / Company activities Investment information Risk factors
GREENSIGHT
Energy Transition Opportunities
Greensight helps to identify the actual* opportunities
FUEL CELL ONSHORE WIND
SOLAR CELL EL FERRY
FAST CHARGING INDUSTRY
BATTERY CONTROL SYSTEMS
HEAT PUMP
HEAT STORAGE
GEOTHERMAL HYDROGEN FERRY
BIOGASS
HYDRO POWER HYDROGEN FACTORY
MICRO GRID
SURPLUS HEAT
HYDROGEN TRUCKS
RUN-OF-RIVER
FJORD HEATING
DATA CENTER
ELECTRIC CARS 3D-PRINTING
ROBOTS
SOLAR HEATING *the actual opportunities could differ significantly
from place to place or project to projectAlready well established
Green Energy Day 18.october 2018 www.energyday.no GED 2017 Hydrogen Symposium Tyssedal
Hilde Holdhus Manager of Greensight Forecasting energy towards 2030
Materializing hydrogen opportunities
2016-2018 2019-2020 2020<
Establishing first Profitable projects
Pre-studies and
hydrogen production within transport and
market positioning
facilities industryGreen hydrogen value chain
Transport land
Hydropower Greenstat will own and operate production
factories, either alone, or with partners.
Transport sea
Buying cheap Selling green
electricity hydrogen -
GreenH2 Industry
Solar and wind
energy
Using commercially
available technology
Export
Electrolysis Hydrogen storageThe first hydrogen station on the West Coast opened in Åsane on the 26th of January 2018. The station is operated by UNO X Hydrogen, but the project was made possible by Greenstat.
Hyundai Nexo – the break through?
The new Hyundai Nexo is now avaiable and can be ordered in Norway. The price starts Greenstat tested the new car at the Hannover messe in April
at 585 900 which is lower than expected. More info 2018. From left: Jon Andre Løkke, NEL, Vegard Frihammer,
Greenstat, Kristian Vik, Norsk Hydrogen Forum, Tim Genge,
Innovation NorwayTizir Tyssedal – 50 MW, 11 000 tons yearly
Mongstad – 66 MW, 14 500 tons yearly
~20-25 NOK per kg H2 Grid power
(competitive to steam reformed hydrogen, inkl CCS)
0,20-0,30 NOK/KWh
+ net tariff
Hydrogen production facility
Max capacity 83 MW
Normal load 80%, 66 MWGlomfjord, 2-50 MW
Tomas Fiksdal Chief Projects Officer - Hydrogen tomas@greenstat.no Providing GREEN HYDROGEN
GREENSTAT ENERGY
New local energy solutions require in-depth knowledge and new business models
Case studies HVL Main campus, Kronstad, Bergen, Hordaland Oseana Culture center, Os, Hordaland
Alexander Svanbring Project Manager Energy alexander@greenstat.no Understanding LOCAL ENERGY
GREENMAKERS
From knowledge to action
Zero emission cars
Zero emission trucks
Solar panels on official buildings
Locally produced biofuelMaking green projects happen
Hydrogen Viking -
A unique platform for demonstrating hydrogen for the maritime sector
Fishing, leisure, cruiseship etc.
Commercial market
2021 →
Ferries/ Express boats
Tender, competition
2019-2021
Hydrogen Viking
Demonstration of technology
2017-2019Course series - hydrogen and other areas
Lars Børve Manager Greenmakers lars@greenmakers.no Finding Green Experts
Vision and values Company structure / Shareholders Employees /Board / Network Projects / Company activities Investment information Risk factors
Greenstat emissions /share price development
Fullmakt Nye
Rettet emisjon Fullmakt
Åpen Invesdor aksjonærer /
Etablering mot Åpen emisjon Rettet emisjon ekisterende
emisjon 2 Skattefordel
bidragsytere aksjonærer
2018
Årstall 2015 2016_1 2016_2 2017_1 2017_2 2017_3 2018
Status Gjennomført Gjennomført Gjennomført Gjennomført Gjennomført Gjennomført Gjennomført
Dato 19.01.2015 09.06.2016 07.09.2016 20.03.2017 23.04.2017 30.11.2017 22.01.2018
Emisjonsbeløp 30 000 2 310 001 5 725 068 1 302 941 140 639 4 091 964 1 509 258,6
Antall aksjer i emisjonen 30 000 1 925 001 3 816 712 789 661 85 236 2 479 978 838 477
Pris per aksje 1 1,2 1,5 1,65 1,65 1,65 1,80
Framtidig aksjepris (mål)
Endring i % NA 20 % 25 % 10 % 0% 0% 9%
Pålydende 1 1 1 1 1 1 1
Overkurs 0,2 0,5 0,65 0,65 0,65 0,8
Totalt antall aksjer 30 000 1 955 001 5 771 713 6 561 374 6 646 610 9 126 588 9 965 065
Aksjekapital 30 000 1 955 001 5 771 713 6 561 374 6 646 610 9 126 588 9 965 065
Selskapsverdi 30 000 2 346 001 8 657 570 10 826 267 10 966 907 15 058 870 17 937 117
Different approaches have been tested when it comes to raising capital and the company now have obtained
good knowledge on how to effectively raise funds.Private placement information
• Target group
• Existing shareholders
• Shares
• Value of each share NOK 1.80
• Number of shares 300 000– 4 232 532
• Value of shares NOK 540 000– 7 618 557,60
• Max/min investment limit
• Minimum investment 3000 shares equivalent to NOK 5400
• Maximum investment 2 000 000 shares equivalent to NOK
3,6 MNOK
• Private placement period
• Start 31th of August 2018
• End 1th of October 2018Use of funds ⁃ Activities related to growth strategies for 100 % owned subsidiaries ⁃ Greenstat Hydrogen AS ⁃ Greenstat Energy AS ⁃ Greensight AS ⁃ Strategic investments ⁃ Empower New Energy ⁃ Other investment opportunities evaluated by the Greenstat board ⁃ Marketing activities / positioning / brand building ⁃ Strengthening the organization /securing talents ⁃ General corporate purposes
Documentation / Contact details - Term Sheet - Application Agreement - General meeting protocol - Board meeting protocol All documents are available on Greenstat’s website: http://www.greenstat.no/shareholders
Vision and values Company structure / Shareholders Employees /Board / Network Projects / Company activities Investment information Risk factors
Risk factors Investing in shares issued by Greenstat involves inherent risks. Prospective investors should consider, among other things, the risk factors set out herein before making an investment decision. The risks described below are not the only ones facing the Company. Additional risks not presently known to the Company or that the Company currently deems immaterial may also impair the Company’s business operations and adversely affect the price of the shares. If any of the following risks actually occur, Greenstat’s business, financial position and operating results could be materially and adversely affected. A prospective investor should carefully consider the factors set forth below and should consult his or her own expert advisors as to the suitability of an investment in the shares. All information in this Presentation is presented as of the date hereof and is subject to change, completion or amendment without notice. All forward-looking statements included in this document are based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forward-looking statements. Forward-looking statements will, however, be updated if required by applicable law or regulation. Investors are cautioned that any forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, and the actual results may differ materially from those included within the forward-looking statements as a result of various factors. Factors that could cause or contribute to such differences include, but are not limited to, those described below and elsewhere in this presentation. Please note that the risks described below are not exhaustive, and other risks not discussed herein may also adversely affect Greenstat, its operations and future prospects. The risk factors the Company is subject to are inter alia: Market risks: General market risks, delayed market introduction of hydrogen vehicles and vessels, lack of industrial customers choosing green hydrogen, lower degree of decentralized energy production than anticipated, lacking or reduced political will to establish early stage markets within hydrogen and local energy. Financial risks: Lack of trust in the financial market due to small size and short history. Capital-intensive production facilities (hydrogen), increase in electricity prices, changes in exchange rates, liquidity risk, financial leverage and ability to service debt, credit risk, change in effective tax rate, increase of interest rates, private ownership limits transparency and access to information. Regulatory risks: Change of industry regulations for electrolysis (standing charge), taxes on hydrogen as a fuel, reduced incentives for hydrogen vehicles FCEV’s (today same as for battery vehicles BEV). Change in prosumer tariff/regulations (ability to supply power back into the grid).
Making Green Happen
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