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Smart Solutions for Clean Energy

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A presentation by Steve Anderson at TBLI CONFERENCE EUROPE 2008.
21
© 2008 Surfect Technologies, Inc. Smart Solu*ons for Clean Energy™ Investor Presenta,on November 2008
Transcript
Page 1: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™

InvestorPresenta,onNovember2008

Page 2: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™

2

SafeHarborDisclaimer

Theinforma:oninthispresenta:onmayinclude"forward‐lookingstatements"withinthemeaningofthePrivateSecuri:esLi:ga:onReformActof1995thatinvolverisksand uncertain:es, par:cularly statements an:cipa:ng future growth in revenues.Words such as “an:cipates,” “es:mates,” “expects,” “projects,” “intends,” “plans,”“believes” and words and terms of similar substance used in connec:on with anydiscussion of future opera:ng or financial performance iden:fy forward‐lookingstatements. There can be no assurances that forward‐looking statements will beachieved, and actual results could differ materially from those suggested by theforward‐lookingstatements.Importantfactorsthatcouldcauseactualresultstodiffermaterially include: the comple:on and filing of the applicable documents with theSecuri:esandExchangeCommissionandtheCompany'sfulfillmentoftheobliga:onsunder the applicable indentures. Therefore, any forward‐looking statements in thispresenta:onshouldbeconsideredinlightofvariousimportantfactors,includingtherisks and uncertain:es listed above, as well as others. The Company makes nocommitment to reviseorupdate any forward‐looking statements inorder to reflecteventsorcircumstancesaWerthedateanysuchstatementismade.

Page 3: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™

3

InvestmentHighlights

•  Demandforsolarpowerincreasing

–  PVproduc:oncostdropping–  Fossilfuelsmorevola:le

•  Surfectuniquelyposi:onedincapitalconstrainedmarket

–  drama:callyreducessolarcosts&increasesefficiency

•  FirstprogrammablePVwaferpla:ngtechnology

•  Modularapproachidealcustomersolu:on

•  Accelera:ngmovetowards“gridparity”

•  High‐marginandscalableoutsourcingandlicensingmodel

•  Solidporcolioofintellectualproperty

Surfect:workingattheheartofsolarpower

Page 4: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™SolarIndustryTrends

•  Solarpower8yeargrowth~40%peryear

•  Industrypricingpressure&difficultfundingenvironment–  Costperkilowag‐hourofphotovoltaicsystemshasbeendropping,while

electricitygeneratedfromfossilfuelsisbecomingmoreexpensive

–  Supplychaindynamicswillforcemanufacturerstoadoptapplica:onspecifictechnologytoenhance/preservemargins

•  NewreportbyCleanEdge&Co‐opAmericastatessolarpowertoreachcostparitywithconven:onalpowerby2015–  Solarpower'scontribu:oncouldgrowto10%ofthena:on'spowerneedsby

2025

4

“…to reach the 10% goal, solar photovoltaic companies will need to streamlineinstalla*ons andmake solar power a "plug‐and‐play" technology, that is, itmust besimple and straighEorward to buy the components of the system, connect themtogether,andconnectthesystemtothepowergrid.”–CleanEdge,Inc.&Co‐opAmericaFounda9on

Page 5: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™

5

•  Modulecostshavedeclinedfrom~$100/Wto~$4/W‐duringthis:meworldwideinstalla:onshaveincreasedtoover3GW/yrin2007&~10GWofcumula:veinstalledcapacity

AnnualPVProduc,on

Page 6: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™SolarPanelComponents

Optics

Interconnect

Semiconductor

Cell

Heat Sink

Diodes

Interconnect

Module/Panel

Rectifier

Batteries

Charge Control

Array/ System

Inverter

Monitor/Meter Shielding

Highefficiencymetalinterconnectreducesproduc:oncostsandimproves

integra:onaswellasperformance

Page 7: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™KeyMarketDrivers

•  Solardemandexpandingrapidlyasalterna:vetooilandgas

•  Waferpla:ngtechnologiesmovingtoaddresssolarapplica:ons

•  Challenge‐togetmorepowerfromthewafers

•  Requirement‐50%costreduc:onandvolumeincrease

•  Pla:nglinesneedtobemoreflexible&lesscapitalintensive

•  Manyapplica:on‐specificpackageformats&newpla:ngchemistries

•  Shortageofequipmentsuppliersacrosstheindustry

7

Page 8: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™Introduc,ontoSurfectTechnologies

•  Surfect’sadvancedinterconnectandpackagingsolu:onsforsolarcellapplica:ons:–  Improvesolarcellmanufacturingspeedandyields–  Significantlylowercostofmetalliza:on–  Processtechnologyco‐developedanddeliveredwithtools

•  Surfect’sSmartSolu:ons™helpproducersofsolarcellsandmodulesreducethecostperdeliveredwagofsolarcellsandimprovetheefficiencyofwaferlevelprocessing

•  Surfect’suniquepla:ngprocessisbasedonaproprietaryDirectEnergyPla:ng™technology,whichusesultrasonicenergytocreatethemetalinterconnectonthesiliconwafers

•  Thecompany’s“plug‐and‐play”pla:ngandintegratedpackagingsolu:onsarecomputer‐driven,simpletooperateandcanaccommodatemul:plechemistries

8

Proprietarysingle‐cellelectropla,ngtool&process

Page 9: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™DirectEnergyPla,ng™

9

•  Superiorprocess•  Lowercost•  Higherthroughput•  Moreuniformdeposi,on

ProprietaryprocessusingadvancedultrasonicsandDSPtechnologytodeposit

Low‐costmetal“interconnect”onsolarcells

DEPvs.Compe,ngprocesses

Result:Improvedsolarreliability,cost,performance

Page 10: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™Providing“ElectricGlue”

10

Surfect’shighperformance,low‐costinterconnectincreasessolarcellefficiency,helpingbringmoreelectricityfromcelltopaneltogrid

Outcome:Improvedpowermanagementintegra,ngelectronicsclosertosolarcellbringsindustry

closertogridparity

Page 11: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™ScalableProcess&Tool

11

IntelligentFramewithVer:callyStackedDEP™Pla:ngEngines

Page 12: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™

12

AKeyRoleintheSolarSupplyChain

•  Over30yearsexperienceinpackagingandminiaturiza:ontechnology•  Applyingsemiconductorpackagingprocessestoop:mizesiliconuse&efficiency•  Highefficiencymetalsolu:onsandintegra:ontechnology•  Usingthesetoolstodrivemoduleandsystemdesign

SilicaSource Ingot Wafers Cells Panels/

Systems

SilicaSource Ingot Wafers Cells

Panels/Systems

IndustryToday:

SupplyChainConsolida:on:

Panels/Systems

Page 13: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™Compe,,veEnvironment

• Substan:alwaste• Environmentallyunfriendlymaterials

Waste

Acquisi,onCost

SpaceRequirements

StaffTraining/Safety

• Fullyenclosedsystem• Lessbreakage• Greenmaterials/lesswaste

• Highacquisi,oncost• Largeupfrontcapitalrequirement

• Modulardesign• Purchaseon“as‐needed”basis• Farlowermaterialcosts

• Smallerindividualunits• Efficientspaceu:liza:on

• Computerdriven• Simpleandsafertooperate• Real‐:meprocessfeedback

• Extensivetraining• Highsafetyconcerns

• Largeunits• Requiresamplefloorspace• Requiresairhandlingforfumes

Opera,ngFactors• Higherthroughput/uniformity• Lowmaintenanceandpersonnelrequirements

• Manualprocess/:meintensive• Higherlaborcost/technicalpersonnelrequired

*AMAT/Baccinni;BTU/DEK;NexxSystems;Semitool;Technic13

Page 14: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™EnablingFasterMoveto“GridParity”

Wereduceproduc:oncostsandimproveefficiency&performancewith

highefficiencymetaltechnology

•  Targetforgridparityiselectricitycostof$0.10‐0.15perkWh•  U.S.avg.costofretailelectricity

•  ThistranslatesintoturnkeyPVsystemcostof$3.60‐4.00perwa`•  Currently$6.00‐8.00perwa`

•  Requiresmodulepricesof$2.00‐3.00perwa`•  Currently$3.50‐5.00perwa`*

Over50%reduc,onincostandover30%increaseinoutput

14

StandardCellMetalliza:on–SilverPaste

ImprovedplatedMetalliza:onSource:PV‐Tech(Solland)

ImprovedGridMetalliza:onSource:Day4Energy

BacksideplatedMetalliza:onSource:PV‐Tech(Sunpower)

Page 15: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™ReducingPVCost

AdvancedMetalliza,on:

ReduceResistanceandRecombina:on

ModuleStandardPackaging:SolarICTM

IntegratedPackaging

HeatSink/TEC:Reducetemperature

AdvancedSolarICSmartModule

UNDERDEVELOPMENT

Surfectiswellposi*onedinacapitalconstrainedmarketgivenourabilitytodrama*callyreducesolarcost.

15

Page 16: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™BarrierstoEntry

•  IntellectualProperty–  ThreepatentsissuedtoSurfectintheU.S.andanothereightpendingglobally

coveringSurfect’selectrochemicalprocess,electrodeposi:onapparatus,pla:ngapparatusandmethod,compositemagne:cpar:clesandfoils,amongothers•  2005:Sub‐micron&NanoSizePar:cleEncapsula:onbyElectrochemicalProcess

andApparatus•  2005:Electrodeposi:onApparatusandMethodusingMagne:cAssistanceand

RotaryCathodeforFerrousandMagne:cPar:cles•  2004:MetalHydrideCompositeMaterials

–  Newpatentspendingandunderdevelopment

•  Clearlydefinedupgradeplacormforbothhardware,processandsoWware

16

Page 17: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™SalesStrategy

17

•  EstablishstrategicpartnershipsintheUS,EuropeandAsiawithwell‐established,mul:‐na:onaldistributorsandchemicalmanufacturers–  SignedEuropeandistributorforbothsolarandsemiconductorwithofficesin

Germany,ItalyandUK

–  SignedAsiansalesrepresenta:ve,basedinKoreawith20yeartrackrecordinsolarandsemiconductorsales

–  Koreansolardevelopmentcenter

•  Expanddirectsales&marke:ngteamtofocusonend‐usercustomers

•  Pursuelicensing&royaltyarrangements

Page 18: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™Timeline&Near‐termGoals

•  PartnerwithAsianmanufacturerformassproduc:onofDirectEnergyPla:ngtechnology

•  SignJVagreementwith1mul:‐na:onalmanufacturer&distributor

•  AddnewVP/directorofProductManagement&Sales/Marke:ng

•  Signnewend‐usercustomeragreementswith2‐3solarcompanies

Sept Oct Nov Dec Jan Feb Mar Apr May June

DesignandCAD

Build

ShipandQualify

Automa,onIntegra,on

Produc,onBuild

2008

2009

July August

18

Page 19: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™RevenueModel

19

2Customerspermonth

6Customerspermonth

10Customerspermonth

Revenue

GrossMargin

EBITDAMargin

$10Mil.p/yr

28‐30%

‐‐

$30Mil.p/yr

50‐52%

25‐26%

$50Mil.p/yr

50‐52%

27‐28%

  CommonSharesOutstanding 121.9M

  TotalOp:onsOutstanding(Avg.StrikePrice$0.16) 55.2M

  TotalWarrantsOutstanding(Avg.StrikePrice:$0.08) 116.5M

_________________________________________________________________________

  TotalPoten:alSharesOutstanding 293.6M

Goaltomaintaingrossmarginof50+%toself‐fundexpansion

Page 20: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™SeniorManagement

•  SteveAnderson,ChiefExecu,veOfficerStevejoinedSurfectin2004andbecameCEO,President,andadirectorofSurfectHoldingsinSeptember2006.A28yearpackagingindustryveteran,hismarke:ngandtechnicaldevelopmentac:vi:eshavefocusedonelectronicsmanufacturingandbringinginnova:veinterconnecttechnologytothesemiconductorindustry.HewasformerlyCEOofSiliconBandwidthandSVPofCorporateMarke:ngandBusinessDevelopmentatAmkorTechnology,Inc.andalsospentseveralyearsatTexasInstruments.StevehasaBSEEdegreeinengineeringfromtheUniversityofNorthDakota.

•  RichardTung,VPOpera,onsMr.Tunghasheldgeneralmanagementandopera:onsmanagementposi:onsintheUnitedStatesandAsiaPacificregionforover25years.PriortojoiningSurfect,hewastheDirectorofManufacturingEngineeringforCypressSemiconductor.Previously,Mr.TungwaswithAmkorTechnologyforovertenyears.Heheldavarietyofengineeringandmanagementposi:ons,eventuallygainingthe:tleofVicePresidentofQualityEngineering.Mr.Tunghasalsoheldsenioropera:onsposi:onswithNa:onalSemiconductorandTexasInstruments.HeholdsaMasterofScienceinChemistryfromtheUniversityofMalayaandaMasterofBusinessAdministra:onfromtheUniversityofPhoenix.DavidPham,SolarProductManager

•  DavidPham,SolarProductManagerMr.Phamhasextensiveexperienceinthesolarandalterna:veenergysectors.PriortojoiningSurfect,hewasChiefConsultantattheNextLevelGroupwherehisresponsibili:esincludedsales,marke:ng,andrenewableenergyconsul:ngforsmalltolargebusinesses.Previously,Mr.PhamworkedforSolvisionIncorporatedastheGlobalApplica:onsEngineeringManager.Mr.Phamhasalsoheldposi:onswithHitachiSemiconductor,AdvancedMicroDevices,andMotorola.Hehaswrigenninebooks,presenta:ons,andpapersandhasaBachelorofSciencefromUniversityofCaliforniainelectricalandcomputerengineering.

•  TerryGafron,ProductManager,SoiwareMr.Gafronhasextensiveexperienceinelectricalengineeringandautoma:onprogramming.Previously,hewasemployedatMicronTechnology,Inc.from2001un:l2008,mostrecentlyholdingtheposi:onofCharacteriza:on/Instrumenta:onEngineer.HealsostartedandrananRFtestequipmentdevelopmentcompanywherehefocusedonprovidingleadingRFtesttechnologytocustomersworkingwithlocalinvestors.Mr.Gafronhasco‐authoredanumberoftechnicalar:clesonsemiconductortechnologyandsharesaporcolioofthreepatents,oneofwhichhasbeengrantedandtheothersinvariousstatesofapproval.Mr.GafronholdsaB.S.E.E.andM.S.E.E.fromBoiseStateUniversityinIdaho.

Page 21: Smart Solutions for Clean Energy

©2008SurfectTechnologies,Inc.

SmartSolu*onsforCleanEnergy™SurfectTechnologies

Wemakesolarlessexpensive,moreefficient,andmoreeffec9ve.


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