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good morning ladies and gentleman i welcome all of you who have travelled from different parts also to them and
also people were come from far off they're getting an older functionary okay you will get introduced to her
let's get started there's a lot to cover
i want to take you through the last year and was six months even very very transparently
honestly what has worked well what has not worked well and what you're doing what it
it would be an honest dialogue as it has a thing for us to use and i
presented to you and i'm sure you're not shy of asking questions you ask questions
let's get started by talking about what have you cheat last year
with what i do that since there are fewer new shareholders and uh people from shadow particularly
i want to also introduce into slaves what we do as a company it's a the cat
i'm never tired of saying this because we're so proud of what we do okay
we address three different markets which is becoming more and more to market
from left to right for you this market is about electricity market
electricity generation really it was meant solar electricity transmission and distribution
so you put storage with generation of electricity
particularly particularly renewable energy sometimes even guessed
and you put storage for still blazing electricity when it is being transmitted and distribute it
that's where most thought that our focus has been promised to you as intel stock commotion angle
in between there's a lot off market if i can
put it here so called commercial and industrial market
this is the same still it's system scene technology but this time we
don't put it in the l. p. c. d. s. l. network
we put it behind the media on the premises off
a commercial customer whatever hospital okay industrial customers
okay so it is also call in the industry behind the need to what technology is
the see someone will we think we will most these two with one big difference
here on the utility market this is the project is it's it's
one year to give lot six months to one year to implement a project
maybe in capital requirement
there is this one tends to be what our business you standardise the product ah and you put it
on the premises off a commercial customer and industrial 'cause that's something that holds
that's the difference technology is the same one of the major off and that's the end is very different
so those are the two more 'cause there we have been mostly doing work box
but late in twenty fourteen when i joined with the approval of the bowl
i say that humility if i use the word i it would be good i was think statement
i always believed that the biggest requirement when i do still it would be interested
we have discussed this in last lead you the company was in
such a difficult situation twenty fourteen and so small no references
in good now when descending batteries five cops it nice big balance sheet
so we said okay what could be doing jostle so we started to
build internally the systems for battery packs for elective classes face
forklift trucks
those are the customers we started to build the system we made false investment in these twenty fifteen
and you will see through the presentation today is significant result is visible in the segment so these are
the three markets i should say to markets with different investment requirement and the product market transport
the market we address
and how do we address that market what we do as a company
i say with humility because i have lost in the war and yourself give me three years
i see that from the beginning you meet reuse plan i think the company
to profitability i think we're on track within six months on that
okay when i joined the company twenty fourteen we used to buy cells
from far east korea japan china below that the back for
coffee in c. f. l. s. t. v. tray copy machine we used to build batteries and we do what i'm also it's
small small batteries systems what business small what good business that's holding it
and we had spent into until twenty four been seven years seventy us
in building lithium tight knit oxide ready especially high quality and so
low energy density what the law live good number of cycles awful so
we had only build this as yet not sorta single commercials project
one two june twenty forty friendly and two twenty fifteen not a single project
so this this this was about ten billion per body business systems integration
zero after seven years of investment zero but yes in the actual facts
so look at it i said why haven't we sold most of the market was not requiring lithium
tight knit at that time they require another type of so which is high energy density
which means it's lower tax dollars euros per kilowatt
hour that's all the interesting lodges was lower
so we had a program i didn't start the program was already
there the year long over and the organisation but never finished
so they started their graphite and then see high energy density cell and the launch
the graphite tendencies cell in q. one include twenty fifteen to the sense
so program was the focus about six months to get back to the factory start producing it
then how do you make money no matter what you do in building cells by the
u. r. l. g. in korea sense in in korea or panasonic in japan
it is a little working business high volume low mileage as if you made fifteen percent gross margin you are in good business
typically the models in between ten and fifteen percent depending on what
there's no way in europe and in switzerland they did it they ship so it's a nice
expenses okay you can have a ten percent goes like the business and be in business
not possible so needed to do something different and the different was i recommended to the board caught the
what kind of funding from the shareholders the page or does the bill a complete energy storage system
that means this value this sounds go into mechanical housing with control electronics gone what you and on
top of the software but remote assistance all my adding water electronics you improve the marching
okay that is the primary driver why we meant and it to a position to twenty fifteen
we need to uh but the license for maybe a stack of my family's here probabilistic for stationary storage
we have acquired find out on the bill b. m. s. for transport business
that wasn't twenty fifteen someone up and developing just what to use that
then said okay now let's build a system integration expertise
which the company had my buildings system far are mostly it's
what was small one system now needed big software
so build it in inside of notation well system integration and we tested that in the market
the postal which i think we got it was not planned pasta which of the the what was the new tended european union
tended to bill world's largest electric very badly for larger selected for
a wee bit farther business i and we want this
all the batteries are being delivered this year this very will be an
operation on solid all next year so three here start development
to get there we are fully certified we had worse specification
for maybe an application like to elected mating application
we need to do is lost solid investment and three years before we see that that's the nature of the business
then we went on to say what else we can do it was
for you have not seen expect significant announcements i will not be
able to disclose today that we have bought framework contract the light source
code i'll an with allows automotive integrated in india and a
and the biggest letting you know it's the it's okay if i take very conservative view
these framework contracts if they become a full control supply contract
will the generally more than hundred and fifty megawatt hours all shipments every year
at a conservative number that should translate to forty five million us dollars then everything the
but it has taken two years off your investment in patients who starts and visits
by the time you get those revenues will be three it's at least
that's the nature of business you're in there and we said okay where else the procurement is happening possible long gestation
also the vacation the fire propagation certification because one year what effect if any one will be
that's that's the nature we cannot change it that's the low interest course it
is important and it takes a long time to get this action
so there was a business happening in the utility market what we need
to do in utility market you need to provide a global solution
not just sell not just more due not just that the madness isn't
software bought also integrate the battery power conversion equipment inward us
okay and can work d. c. from battery to easy easy from
the grade to d. c. that's our conversion system briefly speaking
so we'll give law that expertise as it with the contractor and saw some very significant success may
twenty fifteen we deliver the largest micro great in europe in as well as what you
what did we do we also spent too fast
in second quarter or actually it's a guess second quarter of last year twenty sixty
we want the largest energy storage contract in the world in canada
it has six different sides we're about to finish the pesticides
then in third quarter last year last project twenty megawatt undercover cause in chicago in the us
so we we don't want stated that all strategy works we just
did not spend your money okay we have brought real success
it is taking time to get the project finance implemented i accept that but these
are real projects and when it gets worse that's competition you can think
in commercial in industrial business as i mentioned before it is important business so we took
trying to see how do we create a standard product and be created a
that particular picture you see it full only product it has got
battery inward was ready to connect with agreed with energy madness isn't software
and the reason you want to projects in canada in this this this is standard forty foot container
could be twenty foot container and you can sometimes have inward as
outside if you knew what battery inside and very flexible
configuration is fully paradise and we'll be dealing fast all this
this year into those that's it this that early seventies
so we have a product now for commercial and industrial justice
that's what we do as a company we what we talk about the some
good news some not so good news what happened last last meeting once
so so i think it would be sixteen what review chief specifically sixteen what we cheat is it fifty
six percent growth in revenues and if you recall we achieve sixty percent go to previous yeah
okay that is that is absolutely good news or twenty
fourteen that's more than two point five x. increase
so that's one great positive and the big news is
this one frankly that amount of ordering vaguely ha
close to eighty five no actually it's ninety five as these the
backlight for like end of twenty sixty eighty five megawatt hours
so we not only one of the business deli worried but we also
one more business to secure slightly seventeen eighteen and we got
so already intake was very significant we started construction all three projects in us canada
to sex in canada and one us and one project i just started angel
so it has been a heavy lifting winning the business to leaving the business and
making sure that we find the capital the last one is the disappointment which i'll talk it's
a lot of people look at the headline number and i respect that you got already
does here okay if we don't use it figure people read it like this
but when you look at one if you take out one time investments
like for like all of losses are reduced by fifty percent or
in the trees but that's a figure you would really not be it'll balance sheet
okay but when you look to the details and see what was investment
and what was actually cashflow what's is that or no but you
see it with the person on the line improvement which is visible only
the analysis is not visible are really the financial state it's
okay during this period we spent last year less money to spend
looking cat acts as a less if you like uh
and obviously share price somewhat improved but remains a sore point and
a disappointment for me as for the show prices that's right
during the same period thanks to their house and you will hear a lot about gold important is today well start now
yeah s. chan is a company whose you is in the room
or jack well okay well so it's clean electricity management group
did you get it correctly i used to call or something different okay they have been very
kind to invest in our projects it's a company controlled by the one by one partner
they provided twenty three million us dollars invested in our project eight
million in terms of equity in the project in the us
a hundred percent of the country and fifty million construction loan for
the canadian projects basing wanted to we talked about that
so that has been significant go if you like achievements off last year
real quickly good take you through the numbers because it is a requirement all the
number so seven months old nevertheless is important for you to reflect and see
the numbers and then i'll come back to you to take you through this of the presentation you there
so let's let's is thought to be a income statements uh as it used
to be with the fifty six distance from some of the twenty million
versus the uh the thousand fifty of uh
then you mentioned before to it that we have been able to uh to should uh in two thousand and sixteen
and we have to add to this list of projects um v.
so could like you see businesses look closely the portable business
storage business and the distribution business which can't roughly for
ten million in this twenty eight million number
in terms of personal costs so we do you don't showing substantially increasing person cause
that's the reasons for this the first one is uh as you remember
we made an acquisition in belgium in july two thousand and fifteen
so we have the full you impact of this position
we also decided to to incorporate new legal entity in the us uh
which is actually a as we speak still our largest markets
so we hired a non people uh in the us a highly talented people
no no that explains will so uh the difference uh in terms of person cost and we also
staffed at the end of two thousand and fifteen on the the
first part of two thousand sixteen uh our engineering department
to regain cope with the constant increasing number of
requests for quotes that we were receiving
and getting prepared for delivering the eighty five megawatt hours of project that and
you mentioned that we had in uh you know project might might
from any bigger perspective as in you mentioned uh everything being
you cool uh we managed to reduce the last one
fifty percent would be certainly not a satisfactory situation we mow please with the numbers that we showing to you
but be sure but uh we're working on and we have been working hard in first controlling our cost
the company has been very diligent in the weight was just manager would lose money
uh we have the united a certain number of
positions especially who puts a support functions position
in the latter part of two thousand and sixteen on the early part of two thousand and seventeen
um and and and and and that just a illustrates the fact uh as not being state yet but
this business ease ease uses the business you can now
be seen as a boutique business not the woods
additional business you know where you grew your expenses as rumour that unfortunately
you have to stall is uh the and stuff uh you teams
but before you could we start recognising that the which is what what we did
uh we'll mention later uh who projections that we've done in terms of profitability or showing that's
the company must be delivered between nineteen hundred million
of revenue to really become a profitable
what we can say use that we would be you position the little piece that wouldn't read when you
with a very minimal recruit increase of about person cost and
more in in in general about operating expenses and so we're currently staffed well equipped
to deliver the ninety two hundred million revenue that we're targeting to uh read become profitable
i'm a bit of i mean technically canteen comments to uh most of you will remember
that uh we started a fire apportion fire at the factory in germany last april
uh the equipment that was damaged by the final school formation power that's the last
step in the in the production line is the equipment would charge and discharge is the uh the
the the the the the sensed by this equipment had to to be a return off
in terms of uh financial cost uh it's it's it
two from spending that uh we've done in two thousand and sixteen the
first one is that we have been assisted by some financial institutions
uh in order for us to rise capsule uh which we managed to do last summer we should remember when
treason shakeup to what eleven million in august of two thousand and sixteen and and we also have the
the price the interest cost of the convertible loan uh that the company
uh huh as and the which me to to uh on the status of june of this year and
which and you will we mentioned a a more into the detail in uh in in this presentation
so that that that's what i can share with you from from the piano perspective uh but again
i mean nobody can be proud of those numbers but i want to show you that uh
first of all we have spent the money very i mean carefully and diligently
and we have built a structure that would allow us to deliver
the eighty two two hundred million revenue that uh we are targeting for two thousand and eight
from a banshee perspective uh the woods you on some of the lines uh uh the uh
the the the the the corresponding impact uh that just presented to you in the piano
so none current assets you you you can of course i mean read the be the right
of impact of this machinery uh in a in germany that we've not replaced yet
we're still planning to replace its uh as soon as the significance would uh comes
in and and you will operate on that later on in his presentation
on the current as it's on so you could see the immediate impact of the user
the revenue that we have built a in the fourth quarter of this year
so we had twenty one million of trade we see people balances
which were partially offset by advances receive from customers that are shown on the trident people
um in terms of convertible so that's the moon was mentioning uh uh your uh the ace
a slash usually that so cool to see notes that expired on thirtieth june this year
which of course was still outstanding you know balance sheets uh at the end of two thousand and sixteen
uh we have a still small outstanding loan with the u. b. s. uh
which is to to buy a cushion mobile more uh and then finally
uh we have a point uh its significance the people lawns
uh which is made of a moment to you uh
use uh plus more to instantly people to wanna
bunch and what was the idea stick close as i mentioned advances to customers and of course this
the size of the slide is is directly reflecting the lack of of from
that the company has been suffering now fall for the past six months
twenty i think that's that's what i can i can stay on a thank you on the phone it's just it's thank you
oh okay so no the time for talk about the lows oh okay
let me set the context for you
in twenty four fifteen then i first and present it to you we talked about or
grand house call it what shape which need a little bit of rebuilding and innovation
um and when i started the rebuilding innovation i thought it would
be that difficult frankly it has been very difficult okay
and the construction started in fifteen i went to sixteen and still going on
we had a little bit of it was the last few months because
all the delay in funding i'll take it all that much but
we are absolutely committed we have solid foundation to do this morning or which we need a crotch
we are i believe both three quarters of the way there if not more
where did we come from is not to blame the past but picture is worth a thousand words
or more look at this picture it's your company my journey very useful last what three years
okay it's your company
and it was a massive tasks to take a company of this
history and try to rebuild it's a new business or affect my vantage point is twenty fourteen
you can see what we did in fifteen and sixteen and i absolutely save
it full condition open for any verification but anybody initial in this room
that the had the business we have the business informing was there the u. w. or forty three on we'll see
okay at this point in time says the funding has been secured i will
take you through that only very recently as in few days back
okay i need a little bit of time to to evaluate going to end up in twenty seventy
i will not be able to leave tell you today the funding has arrived in
last three days i'll take it directly to but look at this picture and
then you look at this picture
the show performance over the same period more or less until about early part of the c. okay we have done
is so much in terms of taking the car back up and you see in the share price here
okay there are many reasons why that okay that is if there is
one reason the infidels among other reasons it is one of the
isn't sure does not reflect the investments in the performance of the
company you sit down with institutional investors in london new york
the f. z. rick and tell them this the only looking at history then yes analysis
and the the look at the market cap which hasn't changed it has improved okay when i
joined it was eighty five million ninety million we have one twenty five million market cap
but we miss them so much of investment taken all the money particularly the lotion or doesn't differentially
okay so it does it reflect the share price it doesn't
okay and that has been a disappointment more concretely
what phil has not worked in late twenty sixteen and
only part of this here um i actually imagined
i was convinced that if i build the business the capital will fall
almost simultaneously i i'm the first one to admit i was wrong
i build the business faster than my lady pays the capital
we targeted raced about thirty million iniquity ended up with eleven million in early july last year
so yeah i don't want to going to the whole list of things but very happy to discuss with you
what are the major feedbacks we got from institutional investors yeah happy bearings came into
that's great news balances a lot respectable in situation you know what i tell in the u. k.
that said their investments i stick it has me that is small more like
a wedding there join the water to see how the portion performance
okay the feedback was about this long history of los you've just seen that curve
okay long history of last low market cap share performances not
reflecting on the work you have done in investments
okay lonely critically ill equipped stock is probably the correct way to do that
it is the strangest company i have ever where seventy some percent off the
company's held in these four names here okay they usually don't trade
small float you just need by future stitching the price anyway at any given time
just pull out five hundred transform yourself pocket and change the price that we like
okay the float is so small
okay and then you go to institutional investors they don't see that there's a white immature sure performances improve
last three years you spend fifty million okay and sure as a market cafes increased by twenty million thirty five
okay that's the challenge we face and one bit which management can do better is a lot of people
rightly so including the fair criticism from the national as we have supported
the company your business model is confused you do too many things
that's a fact that's a fact all i want to say is the dot offering excuse we had a choice
good icon in twenty fifty and get rid off all the
legacy business which represented eight million out of eighteen yet
great clothes that okay if i can be not meaning to go by history
is important sometimes to learn from history all mistakes and others mistakes okay
here is now somebody just decided brilliantly i'm going to get rid of all this business
which are still a good business these business that's still their legacy does still the largest badly in the word
okay but yeah this brilliant idea we get rid of holidays and we rebuild the new
business one two three four five six seven eight keep saying how many is interesting
but i could not possibly responsibly recommend to the board let me just get rid of the legacy business
which represented eight out of eighteen and ten out of twenty eight billion nasty soul you go to
the market and rightfully so people could benefit confused is and what what do you do exactly
you may batteries for coffee machine yes and you make the largest actually in the work yes how's that city
i think that's a fair criticism those appeared we could not do this
okay now we have reached a critical size to make decisions based businesses we key
which businesses be let go in another house very can prosper and i'll take it with that a restructuring lap
okay i think i don't what else could do this rather important so i if
i'm the first one to take the responsibility i fail to raise them capital
foreman situation invest just as it was envisaged in parallel in
anticipation of the iniquity we were negotiating a very large
financing facility mostly for projects out of seventy five million that facility about fifteen from
my memory was for the working capital restless for projects to accelerate the project
okay but you can even come this didn't happen yet successful uh due diligence
the technical the due diligence the commotion due diligence though financially
do digits was successful outcome was three things on
their diligence you don't have enough equally you we don't see we don't break even in twenty eighty
so when you know they could be your more advanced and a bit of break even come back to us
so that these two did not happen as a result
taking action military loss from the past years and not having the fresh a good
image of plan we released in may time frame to be absolutely legally correct
n. l. may i reported aboard through analysis done by peter to see
that the i mean uh some kind of what is called technical
insolvency it's that balance sheet based insolvency those of you are from
other regimes such as germany they're insolvency is tested on cash
ability to pay bills for next ninety days or something more or less in the us okay here and
i just was a little ages of allergy tests and we had negatively pretty compared to the debt
as a result of accumulated losses the convertible load all of the above okay so this technical
insolvency was released in me like end up there to be precise the started work language
so if you know what they're they're what's happening with the question why did the post one video this is easily possible age i can't be
more frank than this okay we need a time and a fixed it what we needed time to fix it before we call the major
so that's really what anton
in between taken alone every loan which is partially taken one being used to be paid
this rule of life i did take a loan from a up ace and jade okay
miss a lot lot me and adams company that was due on friday june
this yet so we needed to find a solution to either beep they all do
in in between i take very much mister lobby and adamant that she
do you agree with golden part that thank you very much it did your dad and the golden property
the echo solution has been reached we're golden park that has perches board fifty three person not alone
and the remaining has been agreed by the three parties h. g. h. one
about that and of course she to postpone it until summer next year
so we were able to resolve that so those are the two reasons we're working
in order to come back to you in age and then you have cleared
all short term problems which are technical but illegally got it
so obviously during this period when you're busy doing all of this okay the business has been more or
less frozen in the first half of frozen don't take it negatively frozen means we could not
no the business as fast as i could have we cannot deliver the project as fast as he could it doesn't mean you're dead
one from it i'll show you what all you which is just like this difficult last six months
with that
i claim that and i'll give you have written sotheby's
have a solid solid solid basis for the crowd
in the second half obviously a an indy into twenty eighteen and you want i'll take you through that as slowly as i can
so this technical insolvency goes by court obligation under stress last seal
it stands walk or of obligation okay those we scored
a number is this what we needed to treat that only widget read that is what he could eat about sheet
okay how do we achieve that i think we achieved not only to
create but also get fresh capital thanks to one by one
what about that and bruno and one and his team here
what about that as a significant significant investment in the company
previously and on top of it you can see the total investment by gordon part but as it stands today is
twenty seven point five million last two weeks okay we're now when it be maybe probably was a subscription
twelve million departure demanded a convertible nor the cash should be a dollar bank this friday or monday
so this is as late as as this and this investor for the tone million
two by about thirty three percent of the convertible from is jade group
that's it's very significant support may i take a moment to actually paying
gordon parker if i may please join me in thanking gordon part
equally we continue to be on the road for the support we have from
and one girl or well before the time anyway endpoint is responsible because
you could get it i don't want so this part effect okay at one
has been a supporter of the company since and one twenty twelve
can't can't remember okay we'll let's get that okay and finest complemented this offered
oh or adding additional fresh money as well
as converting their convertible knowledge to improve
the could be position so once again thank you very much at all
but that would that you're not at this time i'm determined this is
the law that we are going to or from the business that
so the next one double funding not finished sorry to say that i
will be requesting through the resolutions today additional sears from you
to conduct either that i tissue on it last private placement late
september early october in about two months time roughly speaking
okay that's that people need to raise that kind of money in order
to continue growing the business all due to the proper devoted
this is actually very said is not it would take business there is no choice of standstill
let's do this then we will do this then people do this no market is going like
this okay what is good like this either you cool with the market i'll get out
there's no in between choice let's do one thing at a time doesn't work in this business
so clearly we need the capital we need i need your support for that and uh people justify hopefully
with valid claims why that is that i investment is a good money for good cause not a
good many fall back was this is not twenty fourteen australia's before with all due respect
that you take the money and you have no business today but i'm talking about
taking your money to deliver business i hope that's that that's a big difference
so the first thing we will do is probably the projects which are ongoing
okay eighty in the us in canada in germany though big
projects which is typically what and few other contract
all together that's about thirty megawatt hours off construction and believe me we need to complete
we need to bill now battery packs for these large
transport contracts which are at this stage framework agreement
not to conform supply contract so that no misleading information given to what we have framework contract
should they become supply contract over the course of roughly six months we're talking about
i can lay it can only transformation of the company never to look back
even if it is the conservative hundred fifty megawatt hours forty or forty
five million dollar type of torn or what we've never look back
we need to be in the aisle three to five players in this industry on get out
there's no boutique okay and you absolutely committed to start working day and night now in the remaining five
months and the uh to catch up with what we could not too into false seven something
this is not me speaking this to respect those reporting falls magazine online version at least
okay you will see a statement by to at least in orange county
and i'll take you through that you please follow my as a few words here
this is the market has been around three hundred million for energy storage this is outside
of transport which is going to be more than ten times to four billion
all the slip enough ideas all this over a period of five years
okay if you get today's pray twenty sixty as a number four hundred million market
what is the total but we get twenty million what's our market share
the other company which is not all five percent market share in energy storage outside of transport
we had a company which is not all not all five percent market share or white
i think some clap would be nice i can i can i hold ah ha
i'd also like okay
alright i maybe it's difficult to believe because of all the problems we have been through but
that's a fact this i'm not i'm not speaking does not management doing some cell speech
these are facts we're operating in this market despite the difficulties are control for funding which
i'm sure really transparently video okay the fact is we continue to win business
we're we haven't order which we need to deliver this within this year with the dutch utility
building a hybrid story system with live you an hour batteries
will be beautiful solution should be in operation by for school the next day
flywheel and looking battery system
i'm not sure it's first in the word or not but it's ugly very
exciting one there are specific application where you can combine the two storage
technology so that's a good one we recently an onslaught when was that you
had last week last year where we have announced that we're building
electric because charges which battery storage in full public domain
people charge different brands of cars on the highway
between toronto and want to bore some place in in the middle of nowhere in canada okay but storage
the cost will get charged by the battery battery will trickle charge from the great
we are the storage provided in that situation is the false public infrastructure project in the word
in the lower this didn't happen yesterday you were part to use this to get very out today
and containing it even charges elected because charges this time if well actually
this insulation it'll be in heathrow airport or charging electric taxes
we'll provide around and your battery pack you know the full system provided like
the canadian project okay we're just providing our battery packs good enough
this is a huge market as elected because because obviously need charges
and charge just cannot always be just taking the power from the great and put in
the car more the casket charge more storage you need otherwise alter the great
well we haven't been in business
we haven't been in business in all markets in commercial and industrial
i mentioned very briefly we'll just take your word for
two orders one conform delivery of one megawatt hours and second will be probably use should be in q. one
of twenty eighteen this is a standard forty four to look what she can do everything in sight
battery word are ready to connect and this is what commercial cost was behind the beach
we continue to have trust of almost six which is an important
customer and build an important customer of look for sure
i mean to each of us were business already spoke about that i would
like to particularly emphasise the relationship you know was it scored electric
this is the joint development agreement which envisages douche deli
about five hundred electric buses what three years
okay in europe okay what's the beauty of this relationship scored electric is
you would order they look much in terms of heritage history
okay they build drive train our train for all kind
of elected buses trolleys trains costs what have you
all battery pack and be together create a global solution part electric vehicles
which could be sold independently by score though as a
package on independently by the crochet as a package
maybe sell be able to get right to it then they still they'll take or battery pack
both companies are independent and go to market in sales a side of it so we signed up for it
but is it pretty tested solution it's issue which software development to create a common software
for it to make it such very exciting partnership results will be tomorrow
but we're talking about score the electric car largest integrated video
it's not a small thing seventh largest in the world
that that is significant potential on this and no in fact to stefan looses leading that if
you have questions stuff and we'll be able to give you more details about that
we continue to win business just by the difficulty
in order to try to conclude this bit clarity so what have we learned
if you asked me the question which is a better what and what didn't up on the failure of raising part
okay from in situations and what i what to do about it that's what i watch it
first and foremost i play in last two years maybe that absolutely chance one second
it's no longer already several small battery packs in evil about
which is a big city in switzerland but a lot
of people don't know that it is okay i found there today to build projects all over the world
okay we have transformed the company twenty seventeen will be impacted but if you
can forty minute pocket decide okay what is it we're gonna do
one paid that confuse business model too many markets right i can't control history nobody can
not even jesus christ times times gone i can't change ten years of last making
okay but we can change the business model make it sharper okay and the plan is i'll take it to a little
bit more detail to create basically three divisions if you go
to commercial business units one focus on stationary storage
one focus on the chance for business and all the i. p. no hole what
you'll manufacturing will stay in the parent company all will buy the project say
make no mistake about it but more focus on different markets
okay as it is on top that we may have to let some businesses goal without having those discussions as we speak
what else you're doing we absolutely want to lower front up so fast roller for me
as you have seen thanks to whether parker and brought we got the fresh money
we have to do it right issue stroke allows private placement in october timeframe
and then as publicly announced i'm ready to share this would you be able to just do a second listing of the company
in north america the bias being canada final decision has not been made by the board devices
canada because we seem to be somewhat respectable nodding get a larger stationery stores project
probably charges infrastructure commercial industrial customer so we have a significant amount of
momentum custom until we get invited for almost every big beating
so it looks like we have the right moment on in that good aim
is to do the second listing white containing the listing here in switzerland
so have no where confusion about that that second listing we aim to generate significant amounts of capital target
being not less than seventy five us and then or for the company for years to come
this incremental funding on so typo just only shareholders i think i
have almost run all the goodwill from mister lobby adam
gordon parker everybody has invested a different stage in this company but the capitol media
such that it needs to we need to go too much deeper pockets
the without the shareholders company would be here but not to go where you want to be hundred million to to flip two
billion type of turnover company didn't please hearted but eighty two hundred billion is next to if you had to get
wanted to fifty by your twenty twenty uh twenty twenty one okay so having that
there's actually a goat will require capital we aim to raise not
less than seventy five million us otherwise or not that okay
and we need to build the business had justification to us that kind of capital lot of hard work is to be
done with of course are like six months we aim to do with this listing in q. two off twenty
s. things progress okay be these entities you see here
stationary storage business unit and each transfer business unit
nothing stops us to open the capital the other strategic shareholders
into that and for that have capital efficiency more capital needed for the business
we we continue to work in getting a structure partnership our project finance nonstationary storage
a lot of what has been done we should announce some success in
the coming months having significant markup project finance capital by the company
last not the least that business has to continuously improve it all aspects particularly margin and all efficient
you're using the capital i want to make two three things one at first and foremost
we have the support of politician or a good partner and the
board to make an acquisition in energy management system software
this will be made public today for the first time you said at the high level what we want
to do i'm i'm going to share this with you very publicly today that the aim to
acquire a company's asset to start a company via buying the software from this company in united states
it is in the space of energy magnet systems offer that completes all full vertical for
on the colour business plan that annotation billy add three and a half percent ross much
but project pa stationary business i'm not talking about the global or should i feared hapless in pa station it's
it's very very significant acquisition and uh we have the support was share more details we knew what
i'm ready to standing committee today subjected the funding coming will complete this transaction within this yeah
okay that's a significant part of it
and we do that we have a factory in germany more and more expect this from the factory
in germany we'll focus transform business what in house production ourselves in germany l. to you
pa stationary storage business more and more people buy from like so oh gee as opposed to building it
because the final the bill also for stationary that request to watch on capital expenses insult factory
this factor you had with all this blessing has been a gas
they use the word i'd use it it starts cash
and has mean about six to eight million for every one last or whatever since twenty twelve
okay i i don't want to put more complex in manufacturing of cells
we'll focus transport business an l. g. of production and additional batteries
the graph a stationary stories will buy from the market
i believe make significant sense to double the capacity in germany ought
to another man manufacturing in china india or someplace else
but these little replant to put more complex and double it without having since
so they'll be that capital efficiency and last at the least importantly
i'll start with myself this is written in court because i don't
want to ride everybody's salary or okay my senior management
starting with myself as agreed to not take oneness in cash convert
that into shares of the company on will be cheaper topic
we're not just talking powerpoint you're talking about was still commitment skin in the game and i'm happy just happy
i am pleased okay that i lead did like big cutting
fifty percent my composition converting dishes and deliver topic
so i i really would but was that commitment not asking others to do without being a nice
hopefully that will give you some assurance that this management is c. s. is not
about all point is about was that commitment in addition to the professional
with that i'm almost at the end of the presentation last to slice i will leave a lot of details of
restructuring but some details that important so that you don't read in the press you foresee it for me
we talked about three divisions out the company okay first and foremost in
so it's a led let crochet uh say the model company
will retain i. p. sellout indian production which is in germany attendees
in switzerland and germany production is in germany what your design
we are going to more due all modern manufacturing easing you've gotten all my jokes aside when you
come in few months time you'll see come late more you life actually working every day
okay that is stored here in evil avenue this for okay so that morgan many factual continue here
what we would do is actually we'll start of or something something
for the units which are commercial stationary business you need an transport
okay we'll take a long term supply contract on these units
and if you have capacity i don't rule out right people they contacted us to manufacture so it's hard
on what use water abort
okay so there would be an efficiency gained here and efficiency gain here
okay b. we'll bring that yeah that's energy madness at some software acquisition
in this business unit and make it more or less stand alone
in terms of ability to deliver projects mean and delivered project
similarly for transfer business we'll keep the systems integration the charts
for b. m. s. into this coming in it
so that there is real intellectual property knowledge engineering and work it as a
standalone organisation which sourcing the basic technology from the products of light division
that's the principle of this organisation and what's the purpose
of that first and foremost make it capital light
secondly you optimise the operating expenses tortillas allow the value
up these businesses without having a mixed right yeah
it's not going to be done in day one there are a lot of common things here okay but still of my question to you is why
four score the next year generally twenties eighteen this'll be operational also
okay that's what we want to do and then please take these the sensitivity we have
not decided what to do with the legacy business and talk about portable and distribution
do we keep it as almost length company within look or she being on the show
or does indeed do we sell it to a strategic uh on the less
most synergy with that business that is still being discussed by the board no final decision has been made
but that's broadly the plant what have a lower problem fail capital raised on the also what
we're lower is one thing we need to sharpen or message tell businesses european and also
not stopping the business we're not anymore right so sharper organisation more
capital efficient more or opaque slight if you like that word
that's pretty much what it is all like to conclude i'm
on two minutes later okay like to conclude the presentation
by giving you the best outlook i can give you today it is not a white any tough questions it is to tell you the truth
i cannot give you the precise numbers for twenty seventeen today as you know the funny i just arrived
i need to look at the funding go back to our suppliers and see what
we can do in the remaining five miles to give you from outlook
i will give a formal outlook getting into into those in what we love september tenth of september
so let me a little bit more time to do that but what i can already committed is the following
if the forming isn't place if the funding isn't ways we have a very robust order book
to deliver significant growth in twenty eighteen and be very very close to the debris
keep them to work and off twenty eighty two words and off twenty eighty
beagle daddy work the transfer contracts i've already mentioned to you i don't need to read all of it
you will hear what six months some significant contract going
from framework partnership to supply contract concrete supply contract
most of that impact would be from twenty nineteen so we're clear maybe q. for twenty eighty
but not only that but people conform to supply contracts
we and this age that we will absolutely continue all success lately
increasing project finance non recourse project finance i'm talking about all balance sheet
so that no need for comparing capital in like what should to be putting project it'll beep or directly in the project
we we absolutely certain that so that the announcement that happened shortly
including finally disclosing q. does mystery european utility because it's
a large utility they have a lot of process
what i expect almost anybody shortly it is a thirty three meg or call project in germany
the exclusivity agreement with them we have to meet one conditions president before it can
be made me okay well like the project is on very much on
last not the least i already mentioned the new organisation i talked
about will be operational and gently from january twenty eight that's
that's pretty much what i had to share with you i'm looking forward to your questions

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Leclanché SA - 2017 AGM, Yverdon-les-Bains, Switzerland. CEO Presentation.
Anil Srivastava, CEO, Leclanché
26 July 2017 · 10:06 a.m.

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