MAKING GREEN HAPPEN Investor presentation 31.08.2018 - LocalEnergy Hydrogen Insight

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MAKING GREEN HAPPEN Investor presentation 31.08.2018 - LocalEnergy Hydrogen Insight
Local Energy                Hydrogen              Insight

                  MAKING GREEN HAPPEN

               Investor presentation 31.08.2018
MAKING GREEN HAPPEN Investor presentation 31.08.2018 - LocalEnergy Hydrogen Insight
Making Green Happen
MAKING GREEN HAPPEN Investor presentation 31.08.2018 - LocalEnergy Hydrogen Insight
Content

Vision and values
Company structure / Shareholders

Employees /Board / Network

Projects / Company activities

Investment information

Risk factors
MAKING GREEN HAPPEN Investor presentation 31.08.2018 - LocalEnergy Hydrogen Insight
Sustainable development goals
MAKING GREEN HAPPEN Investor presentation 31.08.2018 - LocalEnergy Hydrogen Insight
2030 Vision
Contributed to a significant reduction in fossil emissions
Well established corporation who deliver positive results and has a valuation of 100 Billion NOK.
Knowledge about technology, energy and climate change is the key asset
Dominant supplier of green Hydrogen in Norway and has a significant role in the global market.
Strong position as a supplier of local energy services.
Delivers value chain products and services within the maritime sector.
Most attractive company to work for, recruits the best candidates.
Most satisfied and healthiest employees.
Owned by the people of Norway and green investors around the world.
Significant increase in share value for early investors.
Attractive investment opportunity for funds and heavy investors.
MAKING GREEN HAPPEN Investor presentation 31.08.2018 - LocalEnergy Hydrogen Insight
Values

Green Mindset
Responsive
Entrepreneurship
Expertise
New Thinking
MAKING GREEN HAPPEN Investor presentation 31.08.2018 - LocalEnergy Hydrogen Insight
Greenstat’s green «frame»

              •   Zero emission
              •   Solely green projects
   Coal       •   Lang term                   CCS

              •   Technological independent
              •   Politically neutral
              •   Develop talents
              •   Live as we speak
Natural gas                                   Oil
              •   Earn money
MAKING GREEN HAPPEN Investor presentation 31.08.2018 - LocalEnergy Hydrogen Insight
Vision and values

Company structure / Shareholders
Employees /Board / Network

Projects / Company activities

Investment information

Risk factors
MAKING GREEN HAPPEN Investor presentation 31.08.2018 - LocalEnergy Hydrogen Insight
Company structure
Level 1:
Top company
                                                              GREENSTAT AS (2015) shall develop projects and
                                                              companies related to sustainable energy and
                                                              technology that accelerates the transition from fossil to
                                                              renewable energy usage. Greenstat will also make
                                                              strategic investments in other green companies.

Level 2:                                                                                                                                         GREENMAKERS
Area companies
                                                                                                                                                          AS
                    GREENSTAT HYDROGEN AS                   GREENSTAT ENERGY AS (2018)                   GREENSIGHT AS (2016)                    GREENMAKERS AS (2017)
                    (2017) develops projects and makes      EPC- Energy Performance Contracting.         Energy analysis, scenarios, knowledge   Project development and execution,
                    investments related to production,      Local energy production, energy              based decision support for the          specialized green expert teams.
                    distribution and consumption of green   efficiency and energy services.              transition to a green society.
                    hydrogen. Green hydrogen is defined
                    as hydrogen produced from
                    renewable energy sources.

Level 3:                                                    Hydrogen Viking
Project companies                                                        AS

                    GREENSTAT GLOMFJORD AS                  HYDROGEN VIKING AS (2017)
                    (2016)                                  Project company related to the
                    Hydrogen projects in Nordland           worlds first hydrogen yacht.
                    county.
MAKING GREEN HAPPEN Investor presentation 31.08.2018 - LocalEnergy Hydrogen Insight
Subsidiaries and ownership in other
companies
                                  Greenstat
Company                 Founded   ownership   Other owners
Greensight AS            2016      100 %

Greenstat Hydrogen AS    2017      100 %

Greenstat Energy AS      2018      100 %

Greenmakers AS           2017      67 %       SMAO AS 33 %

                                              NEL 28,5 %, Meløy Energi 28,5 %,
Glomfjord Hydrogen AS    2016     28,5 %      MNU 14,5 %

Hydrogen Viking AS       2017      33 %       Prototech 33%, Pegi 33 %
Shareholder information
 Pre emission, per 31.08.2018                      Post emission, October 2018
                                                    Low end                                  High end
 Number of shares: 9 965 065
 Pre money evaluation: 17,9 MNOK
                                                    New shares: 300 000                      New shares: 4 232 532
                                                    Total number of shares: 10 265 065       Total number of shares: 14 197 597
                                                    Post money evaluation: 18,5 MNOK         Post money evaluation: 22,6 MNOK

Shareholders               Shares     Ownership   Shareholders         Shares    Ownership   Shareholders        Shares     Ownership
Minor investors
Vision and values

Company structure / Shareholders

Employees /Board / Network
Projects / Company activities

Investment information

Risk factors
Key people

  Vegard Frihammer                    Hilde Holdhus              Tomas Fiksdal            Alexander Svanbring
Green Executive Officer/ founder   Acting manager of Greenstat   Chief Project Manager   Project Manager Greenstat Energy
                                       (sept 2018-may 2019)        Greenstat Energy
                                     Manager of Greensight
Board

   Bernt Skeie         Christine Tørklep   Bjørn Frode Skaar
                          Board member        Board member
  Executive Chairman
The Zero Emission Team

Fun fact:
Did you know that when placing the Greenstat
business cards together they form a zero?

Creative design by:
Jostein Sanders, ETN
Network
Greenstat sees great value in utilizing existing competence
clusters and groups. Some of the organisations where
Greenstat is an active member:

• NCE Maritime Cleantech – link
• Norsk Hydrogenforum - link
• Klimapartnere Hordaland - link
• Bergen chamber of commerce - link
• Design Arena Bergen - link
• Bergen.Works - link
• ByNature – link
• bGreen - link
Vision and values

Company structure / Shareholders

Employees /Board / Network

Projects / Company activities
Investment information

Risk factors
GREENSIGHT
Energy Transition Opportunities
                Greensight helps  to identify the actual* opportunities
                            FUEL CELL                       ONSHORE WIND

                SOLAR CELL                                                                     EL FERRY
                             FAST CHARGING                     INDUSTRY
                  BATTERY        CONTROL SYSTEMS
                                                                                HEAT PUMP
                                               HEAT STORAGE

    GEOTHERMAL                               HYDROGEN FERRY
                                   BIOGASS
                                             HYDRO POWER HYDROGEN FACTORY
                      MICRO GRID
                                                                                  SURPLUS HEAT
   HYDROGEN TRUCKS
                                                   RUN-OF-RIVER
                             FJORD HEATING
                                                        DATA CENTER
ELECTRIC CARS                           3D-PRINTING
                                                       ROBOTS
      SOLAR HEATING                                           *the actual opportunities could differ significantly
                                                              from place to place or project to project
Already well established
Green Energy Day 18.october 2018
www.energyday.no

GED 2017           Hydrogen Symposium Tyssedal
Hilde Holdhus
Manager of Greensight

Forecasting energy towards

2030
Materializing hydrogen opportunities
2016-2018              2019-2020            2020<

                       Establishing first    Profitable projects
 Pre-studies and
                     hydrogen production    within transport and
market positioning
                           facilities              industry
Green hydrogen value chain
                                                                                             Transport land

       Hydropower                  Greenstat will own and operate production
                                    factories, either alone, or with partners.

                                                                                                  Transport sea

                    Buying cheap                                                 Selling green
                    electricity                                                  hydrogen -
                                                                                 GreenH2             Industry
Solar and wind
energy

                                               Using commercially
                                               available technology

                                                                                                 Export

                                         Electrolysis      Hydrogen storage
The first hydrogen station on the West Coast opened in Åsane on the 26th of January 2018. The station is operated by UNO X
Hydrogen, but the project was made possible by Greenstat.
Hyundai Nexo – the break through?

The new Hyundai Nexo is now avaiable and can be ordered in Norway. The price starts   Greenstat tested the new car at the Hannover messe in April
at 585 900 which is lower than expected. More info                                    2018. From left: Jon Andre Løkke, NEL, Vegard Frihammer,
                                                                                      Greenstat, Kristian Vik, Norsk Hydrogen Forum, Tim Genge,
                                                                                      Innovation Norway
Tizir Tyssedal – 50 MW, 11 000 tons yearly
Mongstad – 66 MW, 14 500 tons yearly

~20-25 NOK per kg H2                                                                Grid power
(competitive to steam reformed hydrogen, inkl CCS)
                                                                                    0,20-0,30 NOK/KWh
                                                                                    + net tariff

                                                     Hydrogen production facility

                                               Max capacity 83 MW
                                               Normal load 80%, 66 MW
Glomfjord, 2-50 MW
Tomas Fiksdal
Chief Projects Officer - Hydrogen
tomas@greenstat.no

Providing

GREEN
HYDROGEN
GREENSTAT ENERGY
New local energy solutions require in-depth knowledge and
new business models
Case studies

HVL Main campus, Kronstad, Bergen, Hordaland   Oseana Culture center, Os, Hordaland
Alexander Svanbring
Project Manager Energy
alexander@greenstat.no

Understanding

LOCAL
ENERGY
GREENMAKERS
From knowledge to action
                Zero emission cars

               Zero emission trucks

           Solar panels on official buildings

               Locally produced biofuel
Making green projects happen
Hydrogen Viking -
A unique platform for demonstrating hydrogen for the maritime sector
                                                           Fishing, leisure, cruiseship etc.
                                                           Commercial market
                                                           2021 →

                                  Ferries/ Express boats
                                  Tender, competition
                                  2019-2021

    Hydrogen Viking
    Demonstration of technology
    2017-2019
Course series
- hydrogen and other areas
Lars Børve
Manager Greenmakers
lars@greenmakers.no

Finding

Green
Experts
Vision and values

Company structure / Shareholders

Employees /Board / Network

Projects / Company activities

Investment information
Risk factors
Greenstat emissions /share price development

                                                                                                                                   Fullmakt Nye
                                                  Rettet emisjon                                            Fullmakt
                                                                              Åpen Invesdor                                        aksjonærer /
                                 Etablering            mot       Åpen emisjon               Rettet emisjon ekisterende
                                                                                emisjon 2                                          Skattefordel
                                                   bidragsytere                                            aksjonærer
                                                                                                                                       2018
Årstall                                2015 2016_1           2016_2           2017_1           2017_2           2017_3                       2018
Status                      Gjennomført     Gjennomført      Gjennomført      Gjennomført      Gjennomført      Gjennomført      Gjennomført
Dato                             19.01.2015      09.06.2016       07.09.2016       20.03.2017       23.04.2017       30.11.2017        22.01.2018
Emisjonsbeløp                        30 000       2 310 001        5 725 068        1 302 941         140 639         4 091 964       1 509 258,6
Antall aksjer i emisjonen            30 000       1 925 001        3 816 712          789 661           85 236        2 479 978          838 477
Pris per aksje                            1              1,2              1,5             1,65             1,65             1,65             1,80
Framtidig aksjepris (mål)
Endring i %                 NA                             20 %           25 %           10 %               0%               0%               9%
Pålydende                                     1                1              1              1                1                1                1
Overkurs                                                     0,2            0,5           0,65             0,65             0,65              0,8
Totalt antall aksjer                   30 000         1 955 001      5 771 713      6 561 374        6 646 610        9 126 588        9 965 065
Aksjekapital                           30 000         1 955 001      5 771 713      6 561 374        6 646 610        9 126 588        9 965 065
Selskapsverdi                          30 000         2 346 001      8 657 570     10 826 267       10 966 907       15 058 870       17 937 117

Different approaches have been tested when it comes to raising capital and the company now have obtained
good knowledge on how to effectively raise funds.
Private placement information
• Target group
   • Existing shareholders
• Shares
   • Value of each share NOK 1.80
   • Number of shares 300 000– 4 232 532
   • Value of shares NOK 540 000– 7 618 557,60
• Max/min investment limit
   • Minimum investment 3000 shares equivalent to NOK 5400
   • Maximum investment 2 000 000 shares equivalent to NOK
     3,6 MNOK
• Private placement period
   • Start 31th of August 2018
   • End 1th of October 2018
Use of funds

⁃ Activities related to growth strategies for 100 %
  owned subsidiaries
  ⁃ Greenstat Hydrogen AS
  ⁃ Greenstat Energy AS
  ⁃ Greensight AS
⁃ Strategic investments
  ⁃ Empower New Energy
  ⁃ Other investment opportunities evaluated by the Greenstat board
⁃ Marketing activities / positioning / brand building
⁃ Strengthening the organization /securing talents
⁃ General corporate purposes
Documentation / Contact details

- Term Sheet
- Application Agreement
- General meeting protocol
- Board meeting protocol

All documents are available on Greenstat’s website:
http://www.greenstat.no/shareholders
Vision and values

Company structure / Shareholders

Employees /Board / Network

Projects / Company activities

Investment information

Risk factors
Risk factors
Investing in shares issued by Greenstat involves inherent risks. Prospective investors should consider, among other things, the risk factors set
out herein before making an investment decision. The risks described below are not the only ones facing the Company. Additional risks not
presently known to the Company or that the Company currently deems immaterial may also impair the Company’s business operations and
adversely affect the price of the shares. If any of the following risks actually occur, Greenstat’s business, financial position and operating results
could be materially and adversely affected.
A prospective investor should carefully consider the factors set forth below and should consult his or her own expert advisors as to the suitability
of an investment in the shares.
All information in this Presentation is presented as of the date hereof and is subject to change, completion or amendment without notice. All
forward-looking statements included in this document are based on information available to the Company on the date hereof, and the Company
assumes no obligation to update any such forward-looking statements. Forward-looking statements will, however, be updated if required by
applicable law or regulation. Investors are cautioned that any forward-looking statements are not guarantees of future performance and are
subject to risks and uncertainties, and the actual results may differ materially from those included within the forward-looking statements as a
result of various factors. Factors that could cause or contribute to such differences include, but are not limited to, those described below and
elsewhere in this presentation.
Please note that the risks described below are not exhaustive, and other risks not discussed herein may also adversely affect Greenstat, its
operations and future prospects.
The risk factors the Company is subject to are inter alia:
Market risks: General market risks, delayed market introduction of hydrogen vehicles and vessels, lack of industrial customers choosing green
hydrogen, lower degree of decentralized energy production than anticipated, lacking or reduced political will to establish early stage markets
within hydrogen and local energy.
Financial risks: Lack of trust in the financial market due to small size and short history. Capital-intensive production facilities (hydrogen),
increase in electricity prices, changes in exchange rates, liquidity risk, financial leverage and ability to service debt, credit risk, change in effective
tax rate, increase of interest rates, private ownership limits transparency and access to information.
Regulatory risks: Change of industry regulations for electrolysis (standing charge), taxes on hydrogen as a fuel, reduced incentives for
hydrogen vehicles FCEV’s (today same as for battery vehicles BEV). Change in prosumer tariff/regulations (ability to supply power back into the
grid).
Making Green Happen
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