Merrill Lynch 42 Volt System
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Energy Conversion Devices, Inc. ECD CORE COMPETENCE • A technology and manufacturing company specializing in amorphous and
disordered materials – “Ovonics” • Developed the field with over 40 years of research and development
ECD MATERIALS ARE THE ENABLING TECHNOLOGY • FOR NEW LINES OF BUSINESS: • ENERGY GENERATION
- Uni-Solar® Photovoltaic Products - Ovonic Fuel Cells
• ENERGY STORAGE
- Ovonic NiMH Batteries - Ovonic Hydrogen Storage Systems
• INFORMATION SYSTEMS- Optical Memory – Rewritable CD and DVD Products - Electronic Memory – Ovonic Unified Memory
ECD’s Leadership in Technology
Patents/Intellectual Property - 362 issued U.S. patents and 752 foreign counterparts - Originated and holds the basic patents for: • Nickel Metal-Hydride (NiMH) Batteries • Hydrogen Storage in Hydride Materials • Thin-film Amorphous Silicon Photovoltaic (Solar) Cells • Information Products
Know-how and Expertise
Energy Conversion Devices, Inc. ECD CORE COMPETENCE • A technology and manufacturing company specializing in amorphous and
disordered materials – “Ovonics” • Developed the field with over 40 years of research and development
ECD MATERIALS ARE THE ENABLING TECHNOLOGY • FOR NEW LINES OF BUSINESS: • ENERGY GENERATION
- Uni-Solar® Photovoltaic Products - Ovonic Fuel Cells
• ENERGY STORAGE
- Ovonic NiMH Batteries - Ovonic Hydrogen Storage Systems
• INFORMATION SYSTEMS- Optical Memory – Rewritable CD and DVD Products - Electronic Memory – Ovonic Unified Memory
Energy Generation ECONOMIC STATUS ¾ LOWER COST OPTION THAN CONVENTIONAL FUEL IN REMOTE AREAS NOT CONNECTED TO THE GRID. ¾ COST COMPETITVE TO CONVENTIONAL FUEL IN AREAS WHERE THE PEAK LOAD RATE IS HIGHER OR WHERE THERE ARE INCENTIVES FOR RENEWABLE ENERGY. ¾ WILL BE COST COMPETITIVE WITH CONVENTIONAL FUEL IN HIGH VOLUME PRODUCTION (>100 MW PER YEAR) USING IMPROVED TECHNOLOGY.
Energy Generation Competitive Advantages of ECD/United Solar’s PV Low material cost achieved by using thin-film amorphous silicon Record high stabilized energy conversion efficiency achieved by using the multijunction approach Low manufacturing cost achieved by using the roll-to-roll production process Flexible, lightweight and rugged products Superior performance at high temperatures Proprietary technology protected by 165 U.S. patents and 350 foreign patents
Energy Generation
Uni-Solar 5 MW Annual Capacity Machine
Bekaert ECD Solar Systems 25 MW Plant
Energy Storage - Batteries Ovonic Nickel Metal-Hydride Batteries are Everywhere! • over 1 billion sold in 2001 and the market is growing by 30% annually • 28 licensees – Basic patent position: 69 U.S. and 298 foreign
Energy Storage - Batteries
Advantages of NiMH Battery Technology • High Power – 1000 W/kg (HEV) • High Energy Density – 80 Wh/kg (EV) • Excellent Cycle Life – Life of vehicle – >50,000 PNGV 100 Wh Cycles • Rugged and Safe – Abuse tolerant • Environmentally Safe – No cadmium, lead or mercury • Low Lifecycle Cost
Ovonic Family of Batteries 10Ah to 110Ah
Energy Storage - Batteries Manufacturing and Sales Joint Venture
Originally formed in 1994 to develop production manufacturing process
4-wheel automotive applications only
July 2001 – ChevronTexaco Ovonic Battery Systems LLC Formed
50-50 joint venture – ChevronTexaco investing more than $150 million
Expansion of manufacturing facilities underway (Michigan & Ohio)
Development of 36-42 volt Monoblock Battery System
Develop NiMH battery for non-automotive applications (UPS, telecommunications, distributed power)
Energy Storage - Batteries
NiMH Production EV/HEVs
Energy Storage - Batteries
Starter, Lighting & Ignition (SLI) & Integrated Starter Generator (ISG) ¾ Automotive electrical systems will transition from 12/14 Volt to 36/42 Volt. ¾ Higher voltage automotive systems enable higher power electric features and reduce wiring cost and weight. ¾ Ovonic NiMH Batteries are ideal for ISG & 42V SLI based on their excellent power, energy & life.
Energy Storage - Batteries Technology Growth Worldwide Battery Market (by $ Volume)
2000
2010
$27 Billion
$45 Billion
NiMH 4% Lead Acid 80%
Other 1%
Lead Acid 54% NiMH 29%
Lithium 8% NiCd 7% Other 1%
NiCd 5%
Lithium 11%
Energy Storage - Batteries Segment Growth – Worldwide Battery Market SLI
Consumer
2010 Other
SLI (42 v)
Emergency Power
HEV Power Tools Signaling
EV/HEV/SLI (42v)
EV
Motive
Electronics
Toys Telecommunications Medical
$45 Billion
$13 Billion
Energy Storage - Hydrogen Ovonic NiMH Battery
Hydrogen stored and contained as a solid, transferred between hydride electrodes providing electrical energy as an output.
Ovonic Hydrogen Storage System
Hydrogen stored as a solid can be released to provide fuel for an I.C.E. or as a pure feed stock for fuel cells.
Hydrogen Storage
Hydrogen StateHydrogen SolidState OvonicSolid Ovonic System StorageSystem Storage
Power Output (We )
Ovonic solid hydrogen storage offer practical hydrogen storage solutions for portable fuel cell applications: Potential Metal Hydride/Fuel Cell Portable Applications • Cellular phones • Laptop computers • CD players • Portable televisions • Radios • Video cameras • Portable instruments • Hand-held power tools Proprietary Technology
30
300
25
250
20
200
15
150
10
100
5
50
0
0 0
1
2
3
4
Ovonic Solid Hydrogen Storage Systems can be designed in a large variety of capacities and configurations
5
6
7
8
9
10
11
12
13
Time (Hours)
1K Wh 500 Wh 100 Wh
Energy Delivered (Wh e )
Portable Ovonic Solid Hydrogen Storage System
Hydrogen Storage Advantages of Ovonic Metal Hydrides SPECIAL FEATURES: Up to 7 wt.% at about 300°C desorption – equivalent to 780 standard liters of H2 per kg hydride Excellent heat storage device – 0.8 kWh thermal energy per kg of Mg alloys Safe and compact Low-cost, long cycle life – greater than the life of the car Fast refueling capability – comparable to today’s liquid fuels Pure hydrogen fuel stream – no poisons or diluents Tailorable pressure operation – no need for compressors or expanders Packaging flexibility Ideal for fuel cell, ICE vehicles and for hydrogen transportation
Hydrogen Storage
Grams of hydrogen stored per liter volume
120
100
100-110
80 71 60
40
20
23
0
Ovonic Metal Hydrides
Liquid Hydrogen (-253°C)
Compressed Hydrogen (5000 psi)
Projected North American Market for Hybrid & Fuel Cell Vehicles 2000
2002
2004
2008
2012
ICE, HEV, EV Commercialization Phase (Introduction) Vehicles
Total # of Vehicles Infrastructure
Honda Toyota Ford Chrysler GM 250,000
Phase 2 Growth
Phase 3 Additional Options
Additional OEM HEV Entries Buses Ford Other EV 500,000–2,000,000
ICE Using Hydrogen as fuel 40,000 – 60,000 5,000,000–20,000,000
Existing gasoline, diesel, natural gas, electricity
Fuel Cell HEV
Vehicle Objectives
Sites Total # of Vehicles Infrastructure Objective Hydrogen Source No. of Stations
Phase 1 Technical Feasibility Demonstration
Phase 2 Controlled Fleet Demonstrations
Test FC vehicle performance and feasibility
Phase 3
Commercial Readiness Demonstrations
Commercialization Phase
Demonstrate commercial viability of FC Fleet vehicles
20 – 50
Demonstrate use of FC vehicles under real-world conditions 3 sites (different climates) 400 – 600
Investment to establish manufacturing plants and sales/service operations
Demonstrate H2 fueling station; Analyze fuel options Primarily trucked in liquid 3–5
Onsite generation from multiple feedstocks Renewable & fossil fuels 5 – 15
Sufficient stations to service consumers
1(CaFCP)
2-3 states (networked sites) 4,000 – 8,000
Most cost effective sources 20 – 50
Investment for about 30 of all stations H2 capable
Sources: U.S. Department of Energy; Automotive News; CA FCP; 2001 Battery Industry Report
Future Direction: Family of Ovonic Hydrides ¾ ¾ ¾
Achieve Greater Spectrum of Storage Sites Increase Reversible Capacity Use Commercial Low Cost, Low Purity Hydrogen (.99995 → .999)
A joint venture partnership between
Temperature (°C)
400
300
200
100
U
and
0
1
2
3
4
5
6
7
Hydrogen reversible capacity (wt%) U 6 months ago
Now
Near Term
Longer Term
8
May, 2002
ECD’s Hidden Assets • Patents & Know-how Joint Ventures (JV) and Subsidiaries {% owned by ECD} Photovoltaics • United Solar/Bekaert ECD Solar (alliance with Bekaert N.V.) {≈ 50%} • Sovlux – Russian JV with Kvant and Russian Ministry of Atomic Energy (MINATOM) {50%}
Value of ECD’s Ownership in Venture Based on Partners Contribution (millions)
Carrying Value of ECD’s Interest on Financial Statements (millions)
$72
≈$20
$15
$-0-
$70
$-0-
$128
≈$(72)
$150 $4 $12
$-0$-0$-0-
$104
$-0-
$7 $25
$-0$-0-
$587
($52)
Fuel Cells • ChevronTexaco Ovonic Fuel Cell Co., LLC–JV {50%} Battery • Ovonic Battery – balance owned by Honda, Sanyo and Sanoh {91%} • ChevronTexaco Ovonic Battery Systems LLC – JV {50%} • Sovlux Battery – Russian JV with MINATOM {50%} • China JV with Rare Earth High-Tech {19%}
Hydrogen Storage • ChevronTexaco Ovonic Hydrogen Systems LLC – JV {50%}
Information • Ovonic Media LLC – JV with General Electric {49%} • Ovonyx, Inc. – JV with Tyler Lowery, Intel and Others {41.7%}
Total
Why Energy Conversion Devices? Recognized basic dominating patents/enabling technologies in the basic industries of the 21st Century (Energy and Information) Powerful strategic alliances Proven, experienced management team Off-balance sheet values Increased global awareness of need for alternate energy solutions Production processes proven Products and materials moving into commercialization phase to serve rapidly expanding markets
SAFE HARBOR
This presentation may contain forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on assumptions which ECD, as of the date of this presentation, believes to be reasonable and appropriate. ECD cautions, however, that the actual facts and conditions that may exist in the future could vary materially from the assumed facts and conditions upon which such forward-looking statements are based.
disordered materials – “Ovonics” • Developed the field with over 40 years of research and development
ECD MATERIALS ARE THE ENABLING TECHNOLOGY • FOR NEW LINES OF BUSINESS: • ENERGY GENERATION
- Uni-Solar® Photovoltaic Products - Ovonic Fuel Cells
• ENERGY STORAGE
- Ovonic NiMH Batteries - Ovonic Hydrogen Storage Systems
• INFORMATION SYSTEMS- Optical Memory – Rewritable CD and DVD Products - Electronic Memory – Ovonic Unified Memory
ECD’s Leadership in Technology
Patents/Intellectual Property - 362 issued U.S. patents and 752 foreign counterparts - Originated and holds the basic patents for: • Nickel Metal-Hydride (NiMH) Batteries • Hydrogen Storage in Hydride Materials • Thin-film Amorphous Silicon Photovoltaic (Solar) Cells • Information Products
Know-how and Expertise
Energy Conversion Devices, Inc. ECD CORE COMPETENCE • A technology and manufacturing company specializing in amorphous and
disordered materials – “Ovonics” • Developed the field with over 40 years of research and development
ECD MATERIALS ARE THE ENABLING TECHNOLOGY • FOR NEW LINES OF BUSINESS: • ENERGY GENERATION
- Uni-Solar® Photovoltaic Products - Ovonic Fuel Cells
• ENERGY STORAGE
- Ovonic NiMH Batteries - Ovonic Hydrogen Storage Systems
• INFORMATION SYSTEMS- Optical Memory – Rewritable CD and DVD Products - Electronic Memory – Ovonic Unified Memory
Energy Generation ECONOMIC STATUS ¾ LOWER COST OPTION THAN CONVENTIONAL FUEL IN REMOTE AREAS NOT CONNECTED TO THE GRID. ¾ COST COMPETITVE TO CONVENTIONAL FUEL IN AREAS WHERE THE PEAK LOAD RATE IS HIGHER OR WHERE THERE ARE INCENTIVES FOR RENEWABLE ENERGY. ¾ WILL BE COST COMPETITIVE WITH CONVENTIONAL FUEL IN HIGH VOLUME PRODUCTION (>100 MW PER YEAR) USING IMPROVED TECHNOLOGY.
Energy Generation Competitive Advantages of ECD/United Solar’s PV Low material cost achieved by using thin-film amorphous silicon Record high stabilized energy conversion efficiency achieved by using the multijunction approach Low manufacturing cost achieved by using the roll-to-roll production process Flexible, lightweight and rugged products Superior performance at high temperatures Proprietary technology protected by 165 U.S. patents and 350 foreign patents
Energy Generation
Uni-Solar 5 MW Annual Capacity Machine
Bekaert ECD Solar Systems 25 MW Plant
Energy Storage - Batteries Ovonic Nickel Metal-Hydride Batteries are Everywhere! • over 1 billion sold in 2001 and the market is growing by 30% annually • 28 licensees – Basic patent position: 69 U.S. and 298 foreign
Energy Storage - Batteries
Advantages of NiMH Battery Technology • High Power – 1000 W/kg (HEV) • High Energy Density – 80 Wh/kg (EV) • Excellent Cycle Life – Life of vehicle – >50,000 PNGV 100 Wh Cycles • Rugged and Safe – Abuse tolerant • Environmentally Safe – No cadmium, lead or mercury • Low Lifecycle Cost
Ovonic Family of Batteries 10Ah to 110Ah
Energy Storage - Batteries Manufacturing and Sales Joint Venture
Originally formed in 1994 to develop production manufacturing process
4-wheel automotive applications only
July 2001 – ChevronTexaco Ovonic Battery Systems LLC Formed
50-50 joint venture – ChevronTexaco investing more than $150 million
Expansion of manufacturing facilities underway (Michigan & Ohio)
Development of 36-42 volt Monoblock Battery System
Develop NiMH battery for non-automotive applications (UPS, telecommunications, distributed power)
Energy Storage - Batteries
NiMH Production EV/HEVs
Energy Storage - Batteries
Starter, Lighting & Ignition (SLI) & Integrated Starter Generator (ISG) ¾ Automotive electrical systems will transition from 12/14 Volt to 36/42 Volt. ¾ Higher voltage automotive systems enable higher power electric features and reduce wiring cost and weight. ¾ Ovonic NiMH Batteries are ideal for ISG & 42V SLI based on their excellent power, energy & life.
Energy Storage - Batteries Technology Growth Worldwide Battery Market (by $ Volume)
2000
2010
$27 Billion
$45 Billion
NiMH 4% Lead Acid 80%
Other 1%
Lead Acid 54% NiMH 29%
Lithium 8% NiCd 7% Other 1%
NiCd 5%
Lithium 11%
Energy Storage - Batteries Segment Growth – Worldwide Battery Market SLI
Consumer
2010 Other
SLI (42 v)
Emergency Power
HEV Power Tools Signaling
EV/HEV/SLI (42v)
EV
Motive
Electronics
Toys Telecommunications Medical
$45 Billion
$13 Billion
Energy Storage - Hydrogen Ovonic NiMH Battery
Hydrogen stored and contained as a solid, transferred between hydride electrodes providing electrical energy as an output.
Ovonic Hydrogen Storage System
Hydrogen stored as a solid can be released to provide fuel for an I.C.E. or as a pure feed stock for fuel cells.
Hydrogen Storage
Hydrogen StateHydrogen SolidState OvonicSolid Ovonic System StorageSystem Storage
Power Output (We )
Ovonic solid hydrogen storage offer practical hydrogen storage solutions for portable fuel cell applications: Potential Metal Hydride/Fuel Cell Portable Applications • Cellular phones • Laptop computers • CD players • Portable televisions • Radios • Video cameras • Portable instruments • Hand-held power tools Proprietary Technology
30
300
25
250
20
200
15
150
10
100
5
50
0
0 0
1
2
3
4
Ovonic Solid Hydrogen Storage Systems can be designed in a large variety of capacities and configurations
5
6
7
8
9
10
11
12
13
Time (Hours)
1K Wh 500 Wh 100 Wh
Energy Delivered (Wh e )
Portable Ovonic Solid Hydrogen Storage System
Hydrogen Storage Advantages of Ovonic Metal Hydrides SPECIAL FEATURES: Up to 7 wt.% at about 300°C desorption – equivalent to 780 standard liters of H2 per kg hydride Excellent heat storage device – 0.8 kWh thermal energy per kg of Mg alloys Safe and compact Low-cost, long cycle life – greater than the life of the car Fast refueling capability – comparable to today’s liquid fuels Pure hydrogen fuel stream – no poisons or diluents Tailorable pressure operation – no need for compressors or expanders Packaging flexibility Ideal for fuel cell, ICE vehicles and for hydrogen transportation
Hydrogen Storage
Grams of hydrogen stored per liter volume
120
100
100-110
80 71 60
40
20
23
0
Ovonic Metal Hydrides
Liquid Hydrogen (-253°C)
Compressed Hydrogen (5000 psi)
Projected North American Market for Hybrid & Fuel Cell Vehicles 2000
2002
2004
2008
2012
ICE, HEV, EV Commercialization Phase (Introduction) Vehicles
Total # of Vehicles Infrastructure
Honda Toyota Ford Chrysler GM 250,000
Phase 2 Growth
Phase 3 Additional Options
Additional OEM HEV Entries Buses Ford Other EV 500,000–2,000,000
ICE Using Hydrogen as fuel 40,000 – 60,000 5,000,000–20,000,000
Existing gasoline, diesel, natural gas, electricity
Fuel Cell HEV
Vehicle Objectives
Sites Total # of Vehicles Infrastructure Objective Hydrogen Source No. of Stations
Phase 1 Technical Feasibility Demonstration
Phase 2 Controlled Fleet Demonstrations
Test FC vehicle performance and feasibility
Phase 3
Commercial Readiness Demonstrations
Commercialization Phase
Demonstrate commercial viability of FC Fleet vehicles
20 – 50
Demonstrate use of FC vehicles under real-world conditions 3 sites (different climates) 400 – 600
Investment to establish manufacturing plants and sales/service operations
Demonstrate H2 fueling station; Analyze fuel options Primarily trucked in liquid 3–5
Onsite generation from multiple feedstocks Renewable & fossil fuels 5 – 15
Sufficient stations to service consumers
1(CaFCP)
2-3 states (networked sites) 4,000 – 8,000
Most cost effective sources 20 – 50
Investment for about 30 of all stations H2 capable
Sources: U.S. Department of Energy; Automotive News; CA FCP; 2001 Battery Industry Report
Future Direction: Family of Ovonic Hydrides ¾ ¾ ¾
Achieve Greater Spectrum of Storage Sites Increase Reversible Capacity Use Commercial Low Cost, Low Purity Hydrogen (.99995 → .999)
A joint venture partnership between
Temperature (°C)
400
300
200
100
U
and
0
1
2
3
4
5
6
7
Hydrogen reversible capacity (wt%) U 6 months ago
Now
Near Term
Longer Term
8
May, 2002
ECD’s Hidden Assets • Patents & Know-how Joint Ventures (JV) and Subsidiaries {% owned by ECD} Photovoltaics • United Solar/Bekaert ECD Solar (alliance with Bekaert N.V.) {≈ 50%} • Sovlux – Russian JV with Kvant and Russian Ministry of Atomic Energy (MINATOM) {50%}
Value of ECD’s Ownership in Venture Based on Partners Contribution (millions)
Carrying Value of ECD’s Interest on Financial Statements (millions)
$72
≈$20
$15
$-0-
$70
$-0-
$128
≈$(72)
$150 $4 $12
$-0$-0$-0-
$104
$-0-
$7 $25
$-0$-0-
$587
($52)
Fuel Cells • ChevronTexaco Ovonic Fuel Cell Co., LLC–JV {50%} Battery • Ovonic Battery – balance owned by Honda, Sanyo and Sanoh {91%} • ChevronTexaco Ovonic Battery Systems LLC – JV {50%} • Sovlux Battery – Russian JV with MINATOM {50%} • China JV with Rare Earth High-Tech {19%}
Hydrogen Storage • ChevronTexaco Ovonic Hydrogen Systems LLC – JV {50%}
Information • Ovonic Media LLC – JV with General Electric {49%} • Ovonyx, Inc. – JV with Tyler Lowery, Intel and Others {41.7%}
Total
Why Energy Conversion Devices? Recognized basic dominating patents/enabling technologies in the basic industries of the 21st Century (Energy and Information) Powerful strategic alliances Proven, experienced management team Off-balance sheet values Increased global awareness of need for alternate energy solutions Production processes proven Products and materials moving into commercialization phase to serve rapidly expanding markets
SAFE HARBOR
This presentation may contain forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on assumptions which ECD, as of the date of this presentation, believes to be reasonable and appropriate. ECD cautions, however, that the actual facts and conditions that may exist in the future could vary materially from the assumed facts and conditions upon which such forward-looking statements are based.
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