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Freewire Berkeley final presentation

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  • The vision of for FreeWIre.
  • The team that can make it all happen.
  • This is why we entered the EV market. Lots of opportunity.
  • Our journey began with a technology that we found a problem for. But along the way, we realized there was a much bigger opportunity set.
  • What guided us through the journey was the business model canvas. These are several major pivots and discoveries that happened because of our process testing hypotheses.
  • Second major pivot.
  • Third major pivot.
  • Fourth major discovery.
  • Play the video.
  • Looking forward, where do we go from here?
  • CaaS is a much better model. Decision makers can much more easily justify the operational expense.
  • Here’s a potential model for CaaS that we’re actively testing now with customers.
  • Before we conclude, there’s just one more thing…
  • Transcript

    • 1. The Vision Smarter EV charging that’s there for you everywhere.
    • 2. 102 Interviews 6,600 Miles Flown 2 Patents Filed 2 Conferences Week 1 Week 10 Sameer Mehdiratta Product Mgmt, Supply Chain Expert Arcady Sosinov Visionary, CEO, Automotive Expert Sanat Kamal Bahl Electrical Eng, Product Marketing Luv Kothari Electrical Eng, Engineering Design
    • 3. A Growth Market 150 K EVs on the road today 1.8 M Projected for 2020 U.S. Sales of EVs & Plug-In Hybrids 7% of US Vehicle Sales in 2020 EV Charging Market Today $260M EV Charging By 2020 $2.3B Sources: Electric Drive Transportation Association (EDTA), John Gartner at Navigant
    • 4. The Journey So We Found a Problem Inconvenience of Plugging In In Love with a Technology Wireless Charging Scalability Usability Utilization The Destination
    • 5. The Beacon: Business Model Canvas Licensed from businessmodelgeneration.com under a Creative Commons Attribution-ShareAlike 3.0 Unported License LaunchPad Central o Key Partners Strategic Alliance: Electrical grid utilities (PG&E). Strategic Alliance / Coopetition: Software & Network (ChargePoint).  Strategic Alliance / Supplier: Robotics (Knightscope, Berkeley Robotics Lab)  Supplier: Workspace to build and test prototype.  Supplier: Second-life battery suppliers (Tesla, Nissan, BMW). Traffic Partner / Supplier: Electrical contractors (EPCs - Rosendin, Cupertino Electric). Key Activities Fast EV charging. Autonomous robotic movement.  Prototype demonstration. Gov't funding for cleantech/energy/EV projects. Value Propositions  USABILITY: Increase capacity of each charger.  USABILITY: Prevent charge rage amongst employees.  USABILITY: Increase utilization of the charging infrastructure.  SCALABILITY: Ease of installation to electrify a large area.  SCALABILITY: A cheaper way to electrify a large area. Customer Relationships  GET: Product demo to facilities managers.  KEEP: Service & maintenance contract.  KEEP: Analytics platform.  GROW: Demand response software. Customer Segments  Companies with large parking areas and a high percentage of employees who commute using EVs - Google, Cisco Local and state-level government agencies who have a large fleet of EVs. Key Resources  Physical: Second-life li- ion batteries.  Physical: Manufacturing subcontractor specializing in high-power electronics.  Human: Battery engineer. Channels  Direct Sales (charging equipment)  Value Added Resellers, such as electrical contractors (charging equipment) Cost Structure Variable: Service & maintenance of chargers. Variable: Product manufacturing (AC/DC converter, battery charger, batteries, boost converter, CHAdeMO controller, etc). Variable: Power electronics testing equipment (incubator, borrow, rent). Fixed: Product designer. Fixed: Robotics software engineer. Revenue Streams  Charging as a Service (CaaS): Provide an attendant and several Mobi units. Includes a guaranteed capacity per day, maintenance, and data analytics. Customers pay a monthly fee.  Lease Mobi: Customers provide their own attendant and pay monthly for the product, maintenance, and data analytics.  Buy Mobi: Customers buy a unit, and they have to sign up for a maintenance & data analytics contract. Testing hypotheses to find the right customer segments Customer Segments Companies with high % of EV adoption (Google) Companies with high % of EV adoption (Google)
    • 6. The Beacon: Business Model Canvas Licensed from businessmodelgeneration.com under a Creative Commons Attribution-ShareAlike 3.0 Unported License LaunchPad Central o Key Partners Strategic Alliance: Electrical grid utilities (PG&E). Strategic Alliance / Coopetition: Software & Network (ChargePoint).  Strategic Alliance / Supplier: Robotics (Knightscope, Berkeley Robotics Lab)  Supplier: Workspace to build and test prototype.  Supplier: Second-life battery suppliers (Tesla, Nissan, BMW). Traffic Partner / Supplier: Electrical contractors (EPCs - Rosendin, Cupertino Electric). Key Activities Fast EV charging. Autonomous robotic movement.  Prototype demonstration. Gov't funding for cleantech/energy/EV projects. Value Propositions  USABILITY: Increase capacity of each charger.  USABILITY: Prevent charge rage amongst employees.  USABILITY: Increase utilization of the charging infrastructure.  SCALABILITY: Ease of installation to electrify a large area.  SCALABILITY: A cheaper way to electrify a large area. Customer Relationships  GET: Product demo to facilities managers.  KEEP: Service & maintenance contract.  KEEP: Analytics platform.  GROW: Demand response software. Customer Segments  Companies with large parking areas and a high percentage of employees who commute using EVs - Google, Cisco Local and state-level government agencies who have a large fleet of EVs. Key Resources  Physical: Second-life li- ion batteries.  Physical: Manufacturing subcontractor specializing in high-power electronics.  Human: Battery engineer. Channels  Direct Sales (charging equipment)  Value Added Resellers, such as electrical contractors (charging equipment) Cost Structure Variable: Service & maintenance of chargers. Variable: Product manufacturing (AC/DC converter, battery charger, batteries, boost converter, CHAdeMO controller, etc). Variable: Power electronics testing equipment (incubator, borrow, rent). Fixed: Product designer. Fixed: Robotics software engineer. Revenue Streams  Charging as a Service (CaaS): Provide an attendant and several Mobi units. Includes a guaranteed capacity per day, maintenance, and data analytics. Customers pay a monthly fee.  Lease Mobi: Customers provide their own attendant and pay monthly for the product, maintenance, and data analytics.  Buy Mobi: Customers buy a unit, and they have to sign up for a maintenance & data analytics contract. Testing hypotheses to find the right value propositions Value Propositions Higher scalabilityHigher scalability Greater capacityGreater capacity Employee productivity Employee productivity
    • 7. The Beacon: Business Model Canvas Licensed from businessmodelgeneration.com under a Creative Commons Attribution-ShareAlike 3.0 Unported License LaunchPad Central o Key Partners Strategic Alliance: Electrical grid utilities (PG&E). Strategic Alliance / Coopetition: Software & Network (ChargePoint).  Strategic Alliance / Supplier: Robotics (Knightscope, Berkeley Robotics Lab)  Supplier: Workspace to build and test prototype.  Supplier: Second-life battery suppliers (Tesla, Nissan, BMW). Traffic Partner / Supplier: Electrical contractors (EPCs - Rosendin, Cupertino Electric). Key Activities Fast EV charging. Autonomous robotic movement.  Prototype demonstration. Gov't funding for cleantech/energy/EV projects. Value Propositions  USABILITY: Increase capacity of each charger.  USABILITY: Prevent charge rage amongst employees.  USABILITY: Increase utilization of the charging infrastructure.  SCALABILITY: Ease of installation to electrify a large area.  SCALABILITY: A cheaper way to electrify a large area. Customer Relationships  GET: Product demo to facilities managers.  KEEP: Service & maintenance contract.  KEEP: Analytics platform.  GROW: Demand response software. Customer Segments  Companies with large parking areas and a high percentage of employees who commute using EVs - Google, Cisco Local and state-level government agencies who have a large fleet of EVs. Key Resources  Physical: Second-life li- ion batteries.  Physical: Manufacturing subcontractor specializing in high-power electronics.  Human: Battery engineer. Channels  Direct Sales (charging equipment)  Value Added Resellers, such as electrical contractors (charging equipment) Cost Structure Variable: Service & maintenance of chargers. Variable: Product manufacturing (AC/DC converter, battery charger, batteries, boost converter, CHAdeMO controller, etc). Variable: Power electronics testing equipment (incubator, borrow, rent). Fixed: Product designer. Fixed: Robotics software engineer. Revenue Streams  Charging as a Service (CaaS): Provide an attendant and several Mobi units. Includes a guaranteed capacity per day, maintenance, and data analytics. Customers pay a monthly fee.  Lease Mobi: Customers provide their own attendant and pay monthly for the product, maintenance, and data analytics.  Buy Mobi: Customers buy a unit, and they have to sign up for a maintenance & data analytics contract. Testing hypotheses to find the right revenue streams Revenue Streams Charging as a Service (CaaS) Charging as a Service (CaaS) Leasing the MobiLeasing the Mobi
    • 8. The Beacon: Business Model Canvas Licensed from businessmodelgeneration.com under a Creative Commons Attribution-ShareAlike 3.0 Unported License LaunchPad Central o Key Partners Strategic Alliance: Electrical grid utilities (PG&E). Strategic Alliance / Coopetition: Software & Network (ChargePoint).  Strategic Alliance / Supplier: Robotics (Knightscope, Berkeley Robotics Lab)  Supplier: Workspace to build and test prototype.  Supplier: Second-life battery suppliers (Tesla, Nissan, BMW). Traffic Partner / Supplier: Electrical contractors (EPCs - Rosendin, Cupertino Electric). Key Activities Fast EV charging. Autonomous robotic movement.  Prototype demonstration. Gov't funding for cleantech/energy/EV projects. Value Propositions  USABILITY: Increase capacity of each charger.  USABILITY: Prevent charge rage amongst employees.  USABILITY: Increase utilization of the charging infrastructure.  SCALABILITY: Ease of installation to electrify a large area.  SCALABILITY: A cheaper way to electrify a large area. Customer Relationships  GET: Product demo to facilities managers.  KEEP: Service & maintenance contract.  KEEP: Analytics platform.  GROW: Demand response software. Customer Segments  Companies with large parking areas and a high percentage of employees who commute using EVs - Google, Cisco Local and state-level government agencies who have a large fleet of EVs. Key Resources  Physical: Second-life li- ion batteries.  Physical: Manufacturing subcontractor specializing in high-power electronics.  Human: Battery engineer. Channels  Direct Sales (charging equipment)  Value Added Resellers, such as electrical contractors (charging equipment) Cost Structure Variable: Service & maintenance of chargers. Variable: Product manufacturing (AC/DC converter, battery charger, batteries, boost converter, CHAdeMO controller, etc). Variable: Power electronics testing equipment (incubator, borrow, rent). Fixed: Product designer. Fixed: Robotics software engineer. Revenue Streams  Charging as a Service (CaaS): Provide an attendant and several Mobi units. Includes a guaranteed capacity per day, maintenance, and data analytics. Customers pay a monthly fee.  Lease Mobi: Customers provide their own attendant and pay monthly for the product, maintenance, and data analytics.  Buy Mobi: Customers buy a unit, and they have to sign up for a maintenance & data analytics contract. Testing hypotheses to find the right key partners Key Partners Robotics partner: Knightscope Robotics partner: Knightscope Charging network: ChargePoint Charging network: ChargePoint Second-life batteries: ATC New Tech Second-life batteries: ATC New Tech
    • 9. Looking Forward Prototype Smaller Battery & Off-the-shelf Components Mobi V1 Manually Operated by Attendant Mobi V2 Fully Autonomous (No Attendant) Mobi V2.5 Mobile EV Charger w/ Wireless Charging Coming Soon! 9 months – 1 year Years 1 - 2 Year 2+ A roadmap that divides our innovative idea into a series of mezzanine products, thus emphasizing: Iterative Product Development Continuous Customer Feedback Quick Reaction to Market Changes
    • 10. The Revenue Model Mobi Charger Service, Maintenance, & Data Analytics Lease Model + Monthly Service Fee Charging as a Service (Operational Expense)
    • 11. The Revenue Model Example only –prices and terms not yet finalized. Charging as a Service – CaaS (have the ability to service 24 cars per day) $6,950 per month w/ 2yr agreement $15 per charge What You Get FreeWire Attendant (3) Mobi Units Service & Maintenance Data & Usage Analytics No Infrastructure Cost Fast & Free Installation Convenient Charging Increased Employee Productivity Alternatively, Lease a Mobi (use your own attendant and be able to service 8 cars per day) $1,550 per month per Mobi, w/ 2yr agreement $10 per charge
    • 12. Before we conclude, we want to show you just one more thing…
    • 13. Thank You arcady@freewiretech.com luv@freewiretech.com sameer@freewiretech.com
    • 14. Appendix
    • 15. Comparing Solutions Traditional L2 Charging Station Traditional DC Charging Station Mobi Charger Capacity 2 cars per day 4 cars per day 8 cars per day Infrastructure Cost High Very High None Equipment Cost Medium Very High Medium Installation Time 3 – 6 months 6 months 2 weeks Difficulty of Installation High Very High Low Convenience of Use Medium Medium High Portable No No Yes Energy Cost Savings No No Yes Companies charging 10 EVs per day can save over $1,000 monthly on their PG&E bill because of Mobi’s inherent load-shaping capabilities.
    • 16. Product Design
    • 17. Favorable Regulation NYC 20% of all new parking spots shall be EV-ready Palo Alto All new homes shall be wired for EV charging Emeryville, CA Parking lots with >17 spaces shall have at least 3% served by a charging station Local  EV & Charging Infrastructure Incentives  CALSTART Employer EV Initiative  Zero Emissions Vehicle Mandates  Workplace Charging Challenge State Federal
    • 18. Market Size 20,000 charging stations across the US x $13,000 average cost $260 Million TAM 7,500 public stations 12,500 workplace stations $162.5 Million SAM *Does not include in-home chargers 600 Google charging stations replaced by 60 FreeWire chargebots x $50,000 selling price x 10 customers $30 Million Target
    • 19. EV Projections 1.8MEV’s sold in 2020 10% of Total Sales 5MEV’s on the road by 2020 Regulatory Changes Network Effects Aspirational Status
    • 20. Charging Infrastructure 180k EVs on the road today 20k public & workplace charging points (7700 charging stations) 9:1 Ratio That will grow to 12:1 by the end of 2014 Sources: PEVCollaborative, US DOE 61 employees drive EVs 16 charging stations 10% of workforce drive EVs 5:1 EV to charger ratio
    • 21. Current Paradigm EVEV EVEV Grid-tied stationary charging stations. What are the challenges that this model imposes?
    • 22. Utilization 7kWh avg energy needed per charging event 7kW avg charge rate Theoretical Capacity: 8 cars per day Actual Capacity: 2 cars per day Utilization: 25% Why? Reliance on human intervention Optimization between employee productivity and capital utilization Sources: EV Project, Google, ChargePoint, Evernote “The motivation behind Evernote’s robust workplace charging program is unique: to increase employee productivity. By gaining access to HOV lanes in their PEVs, some of our employees have cut their commute in half.” - Maeanna Glenn, Special Projects Manager
    • 23. Scalability Bore concrete Sources: Customer interviews, Harvey Electric, PEVCollaborative “Our first installation included 30 charging stations. We allocated the same funding for the second round, but could now only afford 17 stations. At this point, we don’t even want to think about a third round.” - Brian Glazebrook, Senior Global Sustainability Manager Run conduit undergroun d City inspection services Permits and licenses Installation is complex, time- consuming, and expensive. Scaling up takes months of planning. Key Challenges: Parking Structures Dense Urban Areas Multi-unit dwellings Leased and shared office buildings
    • 24. Energy Consumption Issues to consider: Demand Charges $10 - $30/kW peak rates versus $0 - $3 off-peak Energy Rates Difference between peak and off-peak can be 2X Outdated Infrastructure Companies will most likely need to upgrade their energy infrastructure once EV adoption increases Smart Grid Vehicles may not be able to request a charge when they need it due to overall system demand Sources: PG&E, UC Berkeley, Customer interviews Workplace Public
    • 25. Mobi Charger Building’s Step- Down Transformer 240V/80A Single Phase AC = 19kW AC to DC Conversion Power Electronics 30kWh Battery DC to DC Power Electronics Cabling & Connectors DC CHAdeMO Plug = 50kW Motorized Mobile Enclosure Mobi recharge time ~ 1.5 hours Avg Charge = 7 - 10kW Services 3 EVs before recharging ~ 45 minutes Capacity 10 EVs per day
    • 26. Mobi Charger Traditional Charging Station FreeWire Mobi Hardware $1.50 $7.5k/spot, 2 cars per day amortized over 10 years $3.20 $40k/unit, 10 cars per day amortized over 5 years Installation $2 $10k/spot, 2 cars per day amortized over 10 years $0.40 $5k total, 10 cars per day amortized over 5 years Electricity $2.30 Energy: 10kWh x $0.13 per kWh Demand: (10 stations requesting 6kW each x $13) / 2 / 20 days / 20 cars $1.12 Energy: 6 cars at night ($0.07) and 14 cars during the day ($0.13) Productivity Loss $16.25 15 min at $65/hour average wage None Total $22.05 (incl productivity) $5.80 (not incl productivity) $4.72 Cost per Charge (based on the ability to service 20 cars per day)
    • 27. Household Income of EV Owners 4 out of 5 make over $100k Compared to 1 out of 3 combustion vehicle owners 30% make over $200k Compared to 8% of combustion vehicle owners Source: The EV Project, sponsored by the US Department of Energy
    • 28. End of Appendix