RUK Floating Offshore Wind

FLOATING POWER PLANT A/S

Basic Company Facts

• Limited company existed since 2004

• Two offices in Denmark, one in Norway

• UK Subsidiary in Edinburgh

• Own 50% of 3 project SPVs

• All rights and IP are within FPP A/S

Funding source Raised

Private equity ~ 10,5 m€

Energy fund (debt) ~ 3 m€

Public co-funding ~ 2 m€

Ownership structure• +156 private shareholders

• Shares are not listed and no shares have privileges but have ISIN code

• Largest Shareholder owns consolidated ~ 18%

WE DEVELOP IN PARTNERSHIPS

Other confidential partners

- Integrate knowledge and experiences -Prepare value chain for ramp up

- Reduce capital expenditure

Global leader in power generation

Global leader in offshore service (70 projects in 50 countries)

Technology VC developer for the Oil and Gas market

Global leader in hydraulic pitch control systems, e.g. to Siemens Wind

World leading Uni within wind

Global specialist in hydrodymics

World leading Uni within wave power

Specialist with advanced control

Global Leading third party certification

INDUSTRY

KEY COMPONENTS

Semisubmersible Platform - Oil & gas technology- Built via panel line modules

5-8 MW Wind Turbine - Offshore turbine, optimized pitch control

Unique Patented WEC and PTOs- WECs interact with the stable structure - PTO systems placed indoors

Disconnectable Turret Mooring

- Flexible sub-sea cables based on oil & gas components - Power export via offshore wind standard components and systems

Wind wave synergies include:

- Platform face wave direction - Increased power production - Safe access zone

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P37 – HALF SCALE PROTOTYPE

FPP is the only company in the world that has supplied power to the grid from a combined floating wind and wave device - 4 offshore tests - two years of offshore data

Wave and Wind in One 12 years R&D 2 Years at sea

Ready to market

COMMERCIAL SYSTEM – THE P80

• 80 metres capture width

• Between 2 and 3.6 MW wave power, dependent on site

• 5 – 8 MW Wind turbine

• Minimum water depth 45 m

• 33 KV AC joint wind and wave export/array cable

INCREASED UP TIME AND SAFE ACCESS

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Because

1) The platform turns passively into the main wave direction

2) The wave technology absorbs 70% of the incoming waves

3) It is an extremely stable and floating structure

An offshore safe access harbor is created

This

1) Increases the O&M services window significantly

2) Reduces O&M cost

3) Increases production uptime

4) Is safe

SUPPLIER OF COMBINED WIND WAVE ENERGY PLATFORMS………

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• FPP intend to be a technology provider, delivering design and engineering services. FPP will supply the floating platform but outsource and mange the manufacturing development and operation to partners and suppliers.

……USING A LOCAL SUPPLY CHAIN

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• FPP, like most, floating wind technologies, offera greater opportunity for the local supply chain

• Further range of opportunities for componentsuppliers through the marine and O&G markets:

– Moorings

– Marine Systems

– Winches, Davits etc

– Data

– Sensors

MARKET

Primary Target Markets

Future Target Markets

FPP’S CURRENT PROJECTS

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• FPP are working with DP Energy to assess develop 3 sites in the UK and Ireland

• Sites developed by jointly owned project companies:

– Katanes Floating Energy Ltd, registered in Glasgow, Scotland

– Dyfed Floating Energy Ltd, registered in Port Talbot, Wales

– Ireland Floating Wind and Wave Ltd, registered in Buttevant, Ireland

• Projects developed in a staged manner:

– Initial Demonstrator

– Pilot Array

• Areas are also capable of large arrays (>200MW capacity) in the future as floating wind market and technology matures.

KATANES FLOATING ENERGY PARK

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• Project site is adjacent to Dounreay Tri

• Area around North Coast and Orkney Isles previously identified as suitable for both wind and wave development in the future

• Area provides ideal mixture of conditions for our initial project

– 9.8m/s average wind speed

– ~20kWh/m annual wave energy

– ~60-100m water depth

– Low tidal flow

– <10km from shore

• EIA Screening Opinion received recently

• Target deployment in 2020

Katanes Dounreay Tri

DYFED FLOATING ENERGY PARK

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• Site is adjacent to PDZ

• Area around Pembrokeshire identified as suitable for both wind and wave developments

• Area provides ideal mixture of conditions for our initial project

– 9.9m/s average wind speed

– ~20kWh/m annual wave energy

– ~65-110m water depth

– Low tidal flow

– ~23km from shore

• EIA Screening Opinion received recently

• Target deployment in 2021

IRELAND FLOATING ENERGY PARK

• Two sites being investigated off the South Coast of Ireland

• Sites balance wave energy with proximity to grid and infrastructure

• Area provides good mixture of conditions for our initial project

– 9.4m/s average wind speed

– ~12kWh/m annual wave energy

– ~50-75m water depth

– Low tidal flow

– 10-18km from shore

• EIA Screening report under preparation

• Target deployment in 2021/2

COMMON DENOMINATOR – ROUTE TO MARKET!

• Costs will reduce to be, at least, competitive with conventional fixed offshore wind, but support is needed to get there

• Two markets active to increase chances of a suitable support mechanism

• Other confidential opportunities under investigation including some not requiring specific support– Island markets

– Offshore site power generation

• Exploring other options until a clear (revenue) support system is in place– Corporate PPA’s

– Innovation PPA

– Grants