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Company IntroductionCompany Introduction

2015. 01. 26

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1. Company Introduction

Mission

History

Category of Business

Major Investors /

Shareholders

Shareholders

Manufacturing Facility

2. Market Analysis

Global PV Market

Thermal Cooling Issues

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3. Technology & Product Production Facility Market Entry Type Upgraded Thermal Cooling

Backsheet Technical Data Backsheet Summary Technical Objectives Foundation Technology Application Case for PV module

4. Achievement & Analysis

Test result of TUV certification center

Suzhou Test Bed Mumbai, India Test Bed Is 10% Significant? More Test-beds are Coming

5. Business Collaboration Model

6. Deals in Pipeline

ContentsContents

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1. Company 1. Company IntroductionIntroduction

We grow to become a

global energy platform

providing lights & electricity

to all the nations

MissionMission

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HistoryHistory

1. Company 1. Company IntroductionIntroduction

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Category of Category of BusinessBusiness

1. Company 1. Company IntroductionIntroduction

Distribution

Production

Service

• PV Back sheet: Thermal Cooling, Floated , ASM, Transparent Thermal Barrier • Industrial Special Type: Ultra-Thin Film, Automotive, Building, Secondary Battery

• Solar Module• Thermal Cooling Paint • Thermal Barrier Glass for Solar Module• Thermal Cooling Solar Module Frame• Battery

• Solar & Renewable Energy Financing Services for PV Plant

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Major Investors / Major Investors / ShareholdersShareholders

1. Company 1. Company IntroductionIntroduction

※ 기술 개발 자문1.GS 칼텍스 수석연구원 L 박사 4. VASTEEM Y 대표이사2.영남대학교 P 교수 5. 영남대학교 TUV 센터 B 연구원3.삼성코닝정밀유리 J 선임

CEO, Kim Gaius MinhyukCTOSimon Fraser University, deferred in business - Heat sink development with Samsung Electronics - PV thermal cooling back sheet development - Thermal sheet(super low cost to Samsung LED TV

COO, Choi James Young-GunCMO / COOSimon Fraser University in applied Economics- City Bank corporate banking ARM - Standard Chartered transactor banking department

Director, Kwak hyoung-GunHead of production departmentIncheon tech high school - Director in Gayaland corp - Director in Insan Digicam Corp - Director in Solueta

Director, Kwak yoon YoungHead of business support management BS in administration, Dong Kuk University - Head corporate strategy, KEC corp - Director, Seshin Elec. corp

Advisor, Kwon * *PV plants EPC MBA , Korea University- Field application on HP thermal back sheet - Experience in 24MW PV plants- Sales director in German CONERGY KOREA

Advisor, Lee * *PV plants Engineering BS in Chemical Science, Korea University- System control department, Samsung Engineering- Director, German CONERGY KOREA - Field application & System engineering

Director, Jeon Sang-HoonHead of Quality ManagementBS in applied chemical, Korea University- QM Director in Finetec Corp,. - Director in Hanwha

R&D Manager, Jun WooSuk

Manager in Hp R&D departmentMS in applied chemical Engineering Yeung-nam University- Development in CIGS thin film solar cell- Manager in SNE Research : PV tech & market

Director, Lee Jae-WhanHead of R&D departmentPhD in materials science, Seoul National University - Tech researcher in LG Chemical / Sekisui

-Development of color filter sensitizer(jang young sil award, 2000) - Head of research center in SSCP

Director of sales, Joseph Youm.Head of Sales department BS in Electronic Engineering, Kwangwoon University - Vice president in Blue&Green Technology - Sales director in FerroTec Green Energy

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ShareholdersShareholders

1. Company 1. Company IntroductionIntroduction

JAFCO Investment Asia

CEO : Mr Kim, Min Hyuk

SoftBank Pan-Asia Fund

40.9% share

holdings

Founder

24.9% share ($2.1

million)

Subsidiary of Nomura

Holdings Japan

Invested in 2012 Aug.

Largest VC in Asia

25.3% share ($3.0 million)

Subsidiary of SoftBank

Group

Invested in 2014 Feb.

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Manufacturing Manufacturing FacilityFacility

World class & only one thermal cooling back sheet manufacturing

facility

1. Company 1. Company IntroductionIntroduction

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Global PV MarketGlobal PV Market

2. Market Analysis2. Market Analysis

** 2014: 50GWⅩ6 mil. m2=300 mil. m2Ⅹ(5~8 $/m2)= 1.50 ~ 2.4 bil. $** 2015: 62GWⅩ6 mil. m2=372 mil. m2Ⅹ(5~8 $/m2)= 1.86 ~ 3.0 bil. $ (1GW = approx. 6 mil. m2)

CAGR 20~25% market

Expansion

(GW)

Source: New Energy Finance

18

24

31

40

50

62

76

92

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Global PV MarketGlobal PV Market

2. Market Analysis2. Market Analysis

• Plummeted Module & System Price

• Spurred Market Growth by reaching

Grid-Parity

• Rapidly Growing High Insolation markets

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Thermal Cooling Thermal Cooling IssuesIssues

2. Market Analysis2. Market Analysis

ModuleP-Si PV PlantIngot/Wafer

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Thermal Cooling Thermal Cooling IssuesIssues

2. Market Analysis2. Market Analysis

Function of Back sheet

1. Prevention of Vapor

Permeability

2. Insulation

3. Protection(Physical /

Chemical)

4. Thermal Cooling(Only

ENERMONT)

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Thermal Cooling Thermal Cooling IssuesIssues

2. Market Analysis2. Market Analysis

[How latent heat affects PV modules]

Irradiation energy

(Module temperature)

A output change after turning on a 150Watt halogen lamp

40% Loss

2 mins-Located at an inflection point 30 mins- Reached row parallel

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Thermal Cooling Thermal Cooling IssuesIssues

2. Market Analysis2. Market Analysis

[Modules are connected in DC ===> Partial problem damages all]

Thermal Condensation

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Thermal Cooling Thermal Cooling IssuesIssues

2. Market Analysis2. Market Analysis

1. Latent heat of modules decreases output and reliability

2. Lowered Average Output: Cells and modules are

connected in

DC, which means partial Hot Spot influences all the cells

and

modules connected

3. Thermal deterioration causes material degradation

(Cell, EVA, Back sheet)

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Production Facility(Market Entry Production Facility(Market Entry Type)Type)▷ Approx. 150 Employees

▷ 10GW/year Production capacity(Lebring in Austria)

3. Technology & 3. Technology & ProductProduct

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Market Entry Market Entry TypeType

Junction Junction boxbox

InsulationInsulation

4 Edge-4 Edge-InsulationInsulation

PA

PET

Al

PA Thermal Thermal Cooling Cooling

BacksheetBacksheet

Manufactured by ISOVOLTAIC

Manufactured by ENERMONT

3. Technology & 3. Technology & ProductProduct

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Upgraded Thermal Cooling BacksheetUpgraded Thermal Cooling Backsheet - Being Developed by ENERMONT’s own technology- Being Developed by ENERMONT’s own technology

GlassEVA

Solar cell

EVA

BacksheeBacksheett

PE

Hard Coating

Al

PET

Fluorine

3. Technology & 3. Technology & ProductProduct

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Technical Data(Technical Data(Market Entry Market Entry Type)Type)

Additional Properties

Required properties according to IEC 61730-1

Types: A: Lamination Type B: Coating Type C: Extrusion Type

※ Upgraded Thermal Cooling Backsheet: Data gathering

3. Technology & 3. Technology & ProductProduct

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Backsheet SummaryBacksheet Summary

※ Market Entry Type Structure: consignment production

3. Technology & 3. Technology & ProductProduct

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Technical Technical ObjectivesObjectives

3. Technology & 3. Technology & ProductProduct

InsulationInsulation

BalanceBalance

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Foundation Foundation TechnologyTechnology

3. Technology & 3. Technology & ProductProduct

PA

PET

Al

PA

Different heat shrinkage & Thermal expansion co-efficient

Bowing & Twisting

Flattening

1. Metal – Polymer layer Synchronization

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Foundation Foundation TechnologyTechnology

3. Technology & 3. Technology & ProductProduct

Junction boxJunction boxInsulationInsulation

4 Edge-Insulation4 Edge-Insulation

2. Insulation (Government Project)

PA

PET

Al

PA

<Front

>

<Side>

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Foundation Foundation TechnologyTechnology

3. Technology & 3. Technology & ProductProduct

3. Multi-Layer Lamination

4. Air-gap removal processing technology

5. Ultra slim coating

6. Highly reliable & Thermally conductive

adhesive

(on-going government project)

7. Metal surface treatment chemical

(in cooperation with K.Aluminum)

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Application Case for PV Application Case for PV modulemodule

3. Technology & 3. Technology & ProductProduct

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Application Case for PV Application Case for PV modulemodule

3. Technology & 3. Technology & ProductProduct

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Test result of TUV certification Test result of TUV certification centercenter

4. Achievement & 4. Achievement & AnalysisAnalysis

The experiment explains the function of thermal radiation back

sheet Phase 1: Absorption of the heat generated from cells Phase 2: Quicker temperature drop in ambient temperature assuming the flow of the atmosphere exists Phase 3: With no more light(heat) both values get closer

Phase1

(Conduction)

Phase2 (Conduction

+ convention

+ radiation )

Phase3 (Conduction +

convention + radiation )

A

value

A value

Data referenceCH001 (Red) : HOTPLAYER radiant heat backsheet (HP1)CH005 : Atmosphere temperatureCH007 (Green) : Regular back sheet(R1)

Data referenceCH001(Red): ENERMONT back sheet (HP1)CH005: Atmosphere temperatureCH007(Green): Regular back sheet

Data numberAbsolute time

Channel

Cursor A

Cursor B Cursor C

Cursor A Cursor

B

Phase 1 Phase 2 Phase 3

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Suzhou Test BedSuzhou Test Bed

4. Achievement & 4. Achievement & AnalysisAnalysis

(Reference: H Company Suzhou Test Bed)

Increases by 9.2% on average annually compared with regular back sheet applied modules

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4. Achievement & 4. Achievement & AnalysisAnalysis

Mumbai, India Test BedMumbai, India Test Bed (Reference: India Test Bed)

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Is 10% Significant?Is 10% Significant?

4. Achievement & 4. Achievement & AnalysisAnalysis

“Negligible”

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More Test-beds are Coming !More Test-beds are Coming !

4. Achievement & 4. Achievement & AnalysisAnalysis

San Jose. CA USASan Jose. CA USA

Jakarta. IndonesiaJakarta. Indonesia

Planning. Saudi ArabiaPlanning. Saudi Arabia

Planning. South AfricaPlanning. South Africa

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ENERMONT

YingliBack sheet

supply

Module supply

HAEMAROO

Back sheet manufacturing PV project development Supporting PV finance

module manufacturing

Module Certification Module Distribution

5. Business Collaboration Model5. Business Collaboration Model

Project development

Module supply

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Business in Business in Process(2015)Process(2015)

6. Deals in Pipeline 6. Deals in Pipeline

Region Company Capacity(MW) Business Schedule

Chungcheongbuk-do K 0.36 2015. 1Q

Gyeonggi-do G 0.24 2015. 1Q

Chungcheongnam-do S More than 4 2015. 1Q

Gyeonggi-do G More than 3 2015. 2Q

Gyeonggi-do S More than 2 2015. 3Q

Chungcheongnam-do A 10 2015. 3Q

Jeju C More than 2 2015. 3Q

Jeollanam-do S, J, M, I More than 25 2015. 1~3Q

Etc School 5 2015. 4Q/ BOT

Africa, Mexico, China A, G, U Over 50 2015. 3~4Q

Total 　More than 51

(Excluding overseas projects of over 50MW)

In 2015 + @

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Thank you!Thank you!