Industrial solutionsfor a low carbon economy 3
Energy production is increasingly DISTRIBUTED and less CENTRALIZED
The Cop21 defines a NEW DIRECTION
Historical solutions are becoming IRRELEVANT
A fast changingenergy world
These new challenges
are calling
for new answers
Industrial solutionsfor a low carbon economy
ENERTIME, the waste heat recovery specialist
4
HEAT SOURCES
1 Source : COP212 Source : EIA
ELECTRICTY
21% of world greenhouse
gases emissions1
51% of primary energy
consumption2
3 MW
500 kW300° C
80° C
ENERTIMES CONVERTS HEAT INTO ELECTRICAL POWER
Industrial solutionsfor a low carbon economy
A teamof renewable energy and industry experts
Gilles DAVIDCEOCo Founder
CentraleSupelecALSTOM, CEGELEC, AREVA
Fabien MICHELCTOCo Founder
CentraleSupelecAREVA
Pierre DU BARETCommercial Director
HECPECHINEY, RENAULT TRUCKS
40 employeesincluding 25 engineers
Scientific Committeeincluding members from
5
Christophe RONCORONIFinance
CentraleSupelec, MBA HECSHELL, CMA-CGM, VEOLIA
3 offices in France and 2 Offices abroad (Shanghai
and Vancouver)
A management with 94 years of international
experience and 84 years in the energy industry
A plan to open soon a subsidiary in China
Industrial solutionsfor a low carbon economy 6
2012
2008
1st international deal (India)
1st contract (France)
1st pilot plant ORCHID© is built
ORCHID© proprietary turbine development.
ORC becomes key technology and focus
ENERTIME foundation
2016
2 new sales (China)
3 new contracts : France + Ukraine1
≈ 40 projects identified
Amundi et Siparex VC fund investment
1 French contract should be signed during 2016 and Ukrainian deal won under EBRD tender
The company grows with ORC Waste Heat Recovery market
5 years from idea
to first pilot plant
1 year from pilot to first sale
+ 1 year for first export
contract
Speeding up a world scalecommercial deployment
2015
ENTREPRISE INNOVANTE
IPO in Paris (Alternext of Euronext)
We convert waste heat into power
SRC and ORC are the ONLY RELEVANT TECHs FOR HEAT TO POWER CONVERSION1
ORC, a proven technology based onRankine cycle (as in water-steam cycle)
1 Source : Waste Heat to Power Market Assessment, ICF international, March 2015 8
WATER used as working fluid in steam
turbines (Steam Rankine Cycle)
Is replaced by an ORGANIC FLUID
from carbon chenistry(Organic Rankine Cycle)
Organic Rankine Cycle
Steam Rankine Cycle
Low
temperature++ --
Samll ++ --
Operation /
Maintenance++
Qualified
staff
required
Performance = =
Risks+/-
Re. fluid+
+ : important advantage, = : neutral, -- : disadvantageSource : Company
We convert waste heat into power
Competitive technology For two major markets
Source : Société
9
…Distributed renewable energy(biomass or geothermal)
…Waste Heat Recovery(for power or Combined Heat and Power)
ENERTIME designs and builds turbinesand the associated ORC power modules :
Output up to5 MWe
1MWe≈ 1,5 M€investt.
1MWe givesPower to≈ 1000 people
We convert waste heat into power
A complete range of solutionsfor Industries
TAILOR MADEWe design and
manufacture our turbines
LOW ENVIRONMENTAL FOOTPRINT
Mostly non flammable working fluids
Source : Société
10
Enertime designs and installs turnkey ORC solutions
HEAT TO POWER CONVERSION From 90°C
POWER TO HEAT RATIO-> 16,5% ( 200°C)
for electrical generation
3 MODULE RANGES 100 kW to > 5 MW
(Rainbow®, ORCHID®, special)
LONG LIFETIME≈30 years
We convert waste heat into power
VALENTHIN
ORCHID+
A strong and focused R&Don 2 key directions
11
Intellectual Property
5 patents applications since 2014
ORC Optimization
Innovations & synergies
LEANSHIPS
ANR SeleCO2
12 R&Dprograms
We convert waste heat into power 12
R&DRecent development
New ESCO business model: Orcasil funding and the on-site
project existing of the FMGCExcellence in fluid dynamics: Master thesis with the ENSAM
Dynfluid laboratory in Paris and partnership with PolitecnicoMilano
Design of heat exchangers: Starting with the Carphymcheau
project in Geodenergies
We convert waste heat into power
FONGEOSEC GEOTHERMAL DEMONSTRATION
Combined Heat and Power from geothermal ORC plant
Rating : 5,5 MWe and > 25 MW thermal
This project spearheads deep geothermal development in France
Energy independence usinggeothermal power with ORC technology
131 Fonroche Géothermie : Enertime, Flodim, Enesol Géothermie, Well Staff Développement, Foragelec, Armines, l’Ensegid, le BRGM et le Latep – Commissioning planned for 2019
1
We convert waste heat into power
Distributed energy on demand usingbiomass and ORC
14
New concept for eco-districts Heat – Cold and Power
1 Source : Enertime
Port Marianne biomass CHP plant (Montpellier)
Acceleratingmarket deployment
REFERENCESWaste Heat Recovery
FMGC CHÂTEAUBRIANT (44)GROUPE FARINIA
Pilot plant ORCHID© 1000
Award winning in 6th Call for innovation in « Energy Efficiency for Industries » ADEME-TOTAL
Rating : 1 MWePower production from a process heat source at 200°C1
In operation since Oct.2012
Source : company
Provides power to the site from its own waste and reduces offtake from grid by up to 30%
1 thermal power up to 6 MWth, cost of power generated: 70 € / MWh 16
Acceleratingmarket deployment
SERM MONTPELLIER (34)PORT-MARIANNE ECO-DISTRICT
REFERENCESBiomass Tri-generation
(A first of a Kind in France)
ORCHID© COGEN
Electrical output: 0,6 MWeHeat / Cold output 4,8 / 3,1 MW1
90°C water / or 8°C water w. absorption chillers
Commissioning March 2015
Source : Société
CHP efficiency > 80% of biomass PCI,Much higher efficiency than conventional large water steam CHP units
1 enough for 5 200 flats and and 300 000 m² of offices , shops and various municipal buildings.
17
Acceleratingmarket deployment 18
Five large projectsUnder execution
BAOTOU STEEL (China)top 20 of chineses steel mills
One ORCHID© turbine1 MWe
SHANGHAI BAOSTEEL (China)Leader on the Chinese market
One ORCHID© module3,2 MWe
0
Suez Environnement (France)Caen Waste to Energy Plant
one ORCHID© module2 MWe
KAMYANETS PODILSKYI (Ukraine)First Project in Eastern Europe
One ORCHID© COGEN module1,6 MWe
Order book at 9,1 M€ for deliveries in 2016 and 2017
SYCTOM (France)Great Paris waste management
One ORCHID© COGEN module1 MWe
A structuredCompany
A comprehensive offer respondingto customer specific needs.
20
TURNKEY ENERGY
SOLUTION
ORC POWER
MODULE
ORC TURBINE
High value addedcomponents
Integration Know-how
Comprehensive services
A structuredCompany
Relying on 3 internal key competenciesAnd partner factories
Clément GantiezSenior project manager
Laurent SanchezSenior project manager
& Manager Lyon office
Kudzo OtiniPLC and automation and electrical
9 engineers & 1 technician
& 1 trainee
Gilles DavidCEO
Fabien MichelGM & CTO
Pierre du BaretSales and Marketing
Christophe RoncoroniFinance
5 engineers + 3 employees
Ahmed BerkaneManager
3 engineers
5 technicians
2 trainees
21
Management, commercial & support
Mechanical eng. & service
Operations
ORC and turbine design
Specification and sourcing
of components
Machining forge & foundry
Turbine assembly
Module assembly
Tasks subcontracted under Enertime supervisionTasks performed by ENERTIME
A structuredCompany 22
Shareholders and Governance
1 448 607 issued shares+ 241 555 new shares to be issued if options are exercized
SHAREHOLDING Post IPO
Other investors including employees
Management
BOARD OF DIRECTORS
* Independant Directors
Gilles DAVID - Président
Ahmed BERKANE
SIPAREX - Andréas GALL
Emmanuel HAU*
Jean-Marc PERRAUD *
Isabelle LANGE *
24,47%
31,37%18,68%
4,21%
8,95%
12,32%
Public
A fast growingmarket
Waste heat recovery,The new ORC fast growing market segment
ACCUMULATED INSTALLED ORC CAPACITY ( MWe)
INDUSTRIAL WASTE HEAT RECOVERY WITH ORCs ( MWe)
2010 20152005
0
≈20
>100
Source : ORC manufacturer data base (january 2016) 24
2010/2015
+ 500%
2010/2015
+ 80%
2015/in fabrication
+ 20%
A fast growingmarket
A competitive environmentbut only five world-class players1
25
0,5
Rating(MWe)
Temperature (°C)
1,0 3,0 5,0 20,0
100
200
300
Waste heat recovery (industry) and biomass
Waste heat recovery(Oil & Gas ) and geothermal
A lean player ready to conquer a largely untapped market
1 Source : ENERTIME
A fast growingmarket
References in 4 of the main ORC marketsin France
Industrial Waste heat recovery1
Geothermal by 2023 2
Diesel power plants in islands3
140 MW
80 MW
60MW
Natural gas compressor stations4
Incinerators5
Biomass6
60 MW
30 MW
30 MW
6 : CRE + Ministère de l’Ecologie, du Développement Durable et de l’Energie7 : Company estimate based on a pricce of 1,5 M€ per MW
26
1 : ADEME
2 : Ministère de l’Ecologie, du Développement Durable et de l’Energie
3 : Ongoing talks with EDF, EDT (Tahiti), EDM (Mayotte) and ENERCAL (N. Calédonie) - Market estimate by Ministère de l’Ecologie, du Développement Durable et de l’Energie
4 : H-REII survey
5 : Company data
Overall French market potential 400 MWe equal to a market of 600 M€7
A fast growingmarket
A company gearing upfor global sales deployment
27
14 LANGUAGES fluently spoken by the
company staff
8 COUNTRIES COVEREDby agents, partnerships or
offices
NEW OFFICE open in China
>50% of TURNOVERfrom
overseas contracts
A fast growingmarket
Sales efforts are alreadygiving results
28
≈40 projetsFor a total T/O
potential of
100 M€Over the next two
years
9,1 M€1
5 contracts
ORDER BOOK JUNE 2016
IDENTIFIED PROJECTS
AMBITION
Establish a clear and sustainable
world TOP 5 position
Top Related