Meyer Burger Technology AG · OTC:MYBUF
Meyer Burger Technology — Investor Presentation (April 2024)
17 slides from Meyer Burger Technology's investor presentation, April 2024
Slide 1: Meyer Burger Company Presentation April 2024
Meyer Burger Company Presentation April 2024
Slide 2: Disclaimer
Disclaimer NOT FOR PUBLICATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), CANADA, JAPAN OR AUSTRALIA OR ANY OTHER JURISDICTION IN OR INTO WHICH THE SAME WOULD BE UNLAWFUL This document and
Slide 3: Business review and key 2023 figures
Business review and key 2023 figures Net sales EBITDA [CHF mn] [CHF mn] Market distortions created by oversupply of Asian-made 2022 2023 147 solar PV products and trade restrictions imposed by the 135 -35 U.S. resulting in high losses in Europe -73 Operative 125 128 Group is now implementing its pla
Slide 4: Development of production KPI shows Meyer Burger is a high-quality mass producer
Development of production KPI shows that Meyer Burger has established itself as a high-quality mass producer Meyer Burger White module production yield Freiberg, Germany [%] • Production yields have continued to improve 100 98% over time 90 A+B grade yield • Meyer Burger accomplishes the industry-ty
Slide 5: Strong longevity of Meyer Burger products is proven by external research institutes
Strong longevity of Meyer Burger products is proven by external research institutes • A major challenge for the performance of solar modules is the so-called PID effect ("potential induced degradation") which can lead to massive product failure in the field • Swiss EPFL has recently presented a comp
Slide 6: U.S. opportunity remains highly attractive
U.S. opportunity remains highly attractive 2.0 GW Module Facility in Goodyear (AZ) U.S. Solar PV Deployment Forecast, by SEIA(1) Q2 10k Installed Capacity (GW) 500 47 2024 Employees (3) Solar Modules per 43 Start of Day (3) Production (2) 38 Mid-term 33 2.0 GW Cell Facility in Colorado Springs (CO)(
Slide 7: Potential transition to a partnership business model currently being explored
Potential transition to a partnership business model currently being explored Acceleration of Meyer Burger’s cutting-edge technology on an exclusive basis to industrial partners in different regions of the world Partnership business model Meyer Burger would retain Continued funding of including lice
Slide 8: Financing plan to close the funding gap
Financing plan to close the funding gap Financing mix: • Following the successful completion of a capital increase with gross proceeds of CHF 207 million, the remainder of the funding gap will be financed from additional financing options: export financing loan, loan from the U.S. Department of Ener
Slide 9: Funding plan
Funding plan Export Credit Financing Successful capital c. USD 95m DoE Loan increase of gross CHF 207mn c. USD 200-250m 45X Up to USD 300m April 2024 Q2 2024 H2 2024 Goodyear start of production in Q2 2024 Colorado potential start of production by Q4 2024 (1) Possible delay subject to timing of addi
Slide 10: Meyer Burger investment case
Meyer Burger investment case 1. Meyer Burger serves 2. Meyer Burger is 3. Highly profitable U.S. the structural growth among the western business opportunity market of solar suppliers of high with strong policy technology HJT cells and support with potential modules strategic upsides Source: Company
Slide 11: 1. Massive growth opportunity in the U.S.
1. Massive growth opportunity in the U.S. U.S. solar PV development before and after Products & services U.S. segmentation (2) U.S. solar PV deployment forecast, by SEIA (1) the Inflation Reduction Act (1) Industry Revenue in 2023 Broken Down by Key To Be Installed Capacity Annual U.S. Solar Install
Slide 12: 2. Global #1 HJT player
2. Global #1 HJT player Advantages of Meyer Burger’s Heterojunction Technology Patented cell & module Outstanding cell & Sustainable and socially Customised in-house technology and equipment module efficiency roadmap fair production conditions equipment engineering Meyer Burger’s R&D Capabilities
Slide 13: 2. Why is HJT the right technology path?
2. Why is HJT the right technology path? Framework What is HJT (Heterojunction)? Why HJT? Efficient and Reliable Process flow with only 6 process steps and Technology with Strong 1 maximum process temperatures of 250°C Upgrade Potential for high production yield The top three cost driving materials
Slide 14: 2. Robust in-house R&D function
2. Robust in-house R&D function Hohenstein- Neuchâtel Thun Hauterive Ernstthal Cell development and Technology and product development SmartWire Connection Technology Focus on transferring the technologies equipment production centre for leading power measurement development center from laboratory s
Slide 15: 3. Shift to local sourcing works in Meyer Burger's favour
3. Shift to local sourcing works in Meyer Burger’s favour Meyer Burger is planning to enter large U.S. market with Robust U.S. subsidy regime limited players Current administration has made the U.S. an attractive investment 1 region for non-Chinese renewables players (1) Player Technology Cells Modu
Slide 16: 3. Overview of U.S. business (Meyer Burger Americas)
3. Overview of U.S. business (Meyer Burger Americas) 2.0 GW Module Facility in Goodyear (AZ) 2.0 GW Cell Facility in Colorado Springs (CO) ~Year Q2 2024 10k 350 1.4m 500 Solar modules End 2024 Start of HJT Solar half Employees (2) per Day (2) Potential start Employees (2) cells per day (2) productio
Slide 17: With the right energy, anything is possible.
With the right energy, anything is possible.
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