Highlights
• First Italian Li-Ion Technology Developer and Provider established in 2010
• Focus on High-Power Li-Ion Technology: Lithops cells are fully recharged in less than 5 min
• Provider of tailor made solutions for its customers
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Team
• Carlo Novarese (managing director): Lithops founder, he has 7 yearsof experience in creating, funding and managing newCo. He workedas researcher at Politecnico di Torino and MIE University.
• Daniela Fontana (R&D manager): before joining Lithops, she servedas R&D manager at Rockwood Pigments and brings almost 8 yearsof experience in wet chemistry and CFD.
• Dr. Kazunori Ozawa (cell design and development): more than 40years of experience in the battery field, founder of ENAX and projectteam leader for 1991 Sony first commercial lithium-ion cell release
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Team
• Angioletta Boero (sales and business development): more than 30years in the automotive, she served as SVP in automotivecompanies, responsible of development and P&L of lightcommercial vehicles and managing director of international JVs.
• Giulio Pagella (finance): 20 years of experience in accounting andfinance, name partner of an accounting firm in Torino (StudioPagella – Basilio – Bonelli), board member of several SMEscompanies
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Where we are
• Set up of a pilot facility from active material up to pouch cell assembling and testing (ca 200 kWh/y – scale-up to 600 kWh/y by Q1 2016)
• Run exstensive testing on electrodes and resulting cells (5 years)
• Granted several EU founded R&D projects
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Standard cell configuration
Standard Cell Specifications
Cell dimensions with tabs [mm] 296 x 164 x 3Energy Density [Wh/kg] 80Power Density [W/kg] + 4500Nominal Tension [V] 3.3Capacity at 1 C [Ah] 6Operative temperature [°C] -10 / +55Maximum discharge current (continuos) 30 CMaximum charge current (continous) 20 CCycle Life (60% DOD, 80% capacity remaining, 1C)
+ 3.000 cycles
Cathode LFP based
Lithops cell is charged in 3 min
Best in class
Global Lithium Ion Batteries (LIB) market
• LIB market is dominated by producers in the Far East, (Japan, China and South Korea)
• Just 1% of the total LIB production is based in Europe
• Main LIB players are Samsung, Panasonic, LG, Sony, Lishen, ATL….
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China, 21.00%
South Korea, 38.00%
Japan, 33.00%
Others, 8%
Market share by revenues (up) and localization (down)Source: The rechargeable battery market and main trends 2013-2015 – C. Pillot, Avicienne Energy
LIB Market forecast
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• LIB market is expected to strongly grow in the 2013-2025 period (10% CAGR, 35 B$ total value in 2025(1) )
• Driven by two sectors, ESS and Mobility. ain markets
Stationary (ESS)
Stationary applications for grid stabilization and energy storage
Mobility
Applications for the xEVtransportation market
(1) Source: The rechargeable battery market and main trends 2013-2015 – C. Pillot, Avicienne Energy
LIB Main markets drivers
• LIB main market is dominated by high volumes, standardizationand cost (less than 400 $/kWh)
• Cost vs Energy is the main driver, technology is mature
• Main players: Asian Producers
• New Players: Tesla, Alevo, …..
• Entry barrier: stellar CAPEX investments required to be enter the market
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Lithops target: speciality market
• A specialty market is also growing, with an expected CAGR of 16% for the 2013-2020 period (4.5 B$(1) at 2020, 20% market share in Europe)
• Performances oriented, price is higher
• Target markets: special ESS applications, premium automotive, aerospace, military, motorsport, ... -> Specialty/tailored applications
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(1) Source: The rechargeable battery market and main trends 2013-2015 – C. Pillot, Avicienne Energy
2020 LIB Market / Lithops target
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• Lithops targets 10% of the 2020 Specialty Market in Europe (0.95 B$)
• Main competitors: SAFT, A123, Toshiba, Hitachi
LIB Main Market Specialty Market (EU)
Specialty Market (non EU)
18 B$
4.5 B$
• Lithops involved in ongoing projects to
design customized high power LIB systems with:
• premium OEMs for xEV
• aerospace suppliers
• military suppliers
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Customers acquisition
Shareholders
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A 60 %
B 40%
• Lithops is controlled by Soimar, an Italian EPC (engineering, procurement, construction) company
A Soimar
B Private shareholders
• First equity round: € 5M
• Italian and EU grants: € 3M
Strategy
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– Phase I • Installation of commercial cell assembly plant with 24 MWh per
year capacity to supply high power cells for specialty
• Overall investment € 13M (CAPEX + OPEX)
• Expected yearly net revenues € 12M at +12% EBITDA
– Phase II – 2018• Plant expansion to reach 150 MWh per year capacity by 2020 (10%
of specialty EU market)
• Overall investment € 60M
• Financed through an IPO
KIP – phase I
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2016 2017 2018 2019 2020
TOTAL REVENUESK EURO 150.00 7,654.40 12,165.12 12,068.35 11,085.47
MWh 0.40 12.87 21.78 23.76 23.76
EBITDAK EURO -1,381.47 274.24 1,372.88 1,648.17 1,612.36
% ON SALES - 3.6% 11.3% 13.7% 14.5%
NET RESULTK EURO -1,878.97 -1,033.01 -116.48 143.30 58.15
CAPEXTANGIBLE ASSETS 6,500.00 2,250.00 400.00 300.00 300.00
INTANGIBLE ASSETS 100.00 60.00 20.00 20.00 20.00
TOTAL K EURO 6,600.00 2,310.00 420.00 320.00 320.00
SOURCES OF FINANCEEQUITY 10,000.00 500.00 0.00 0.00 0.00
DEBT 0.00 2,500.00 -500.00 -500.00 -500.00
CASH 31/12K EURO 477.16 369.62 1,045.45 2,810.34 4,659.78
HEADCOUNT 2016 2017 2018 2019 2020TOTAL 14 37 57 57 57
Milestones
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2015
•Product qualification
•Production line design
•Customers acquisition
2016•Fundraising successufully completed
•Production line set-up
2017•Production start
•Rump-up
2018•Plant expansion
Lithium Power Unleashed
All information, data, ideas, layouts, drawings, schemes and their
combination thereof are proprietary and privileged information of
LITHOPS S.r.l. Reproduction, use and circulation are not allowed
without written consent of LITHOPS S.r.l.
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