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ANGARA Global Round_Jul4_Brief Overview (1).pdf
1. ANGARA pioneers Industry 4.0 Smart Scheduled Сleaning of
equipment for Oil & Gas, Chemical, PowerGen industries.
We are bringing a paradigm shift in equipment maintenance.
• Our unique patented technology is already successfully
commercialized with major Oil & Gas companies in Europe
• We help our Clients to significant increase their profitability;
improve Return on Investment in their Digitalization efforts
• Clients get easy & effective control over plants cleanliness
Opportunity for Smart Money Investors
to join $6.5M investment round in
ANGARA INDUSTRIES - UK
INCEPTED IN RUSSIA – GOING
GLOBAL VIA SAUDI ARABIA
• Relocate HQs and main base to Saudi Arabia & Bahrain
• Scale up growing sales in the main Oil & Gas global hub
• Establish interface to feed parameters for Clients’ digital platforms
2. 2
Angara investment opportunity overview
* Equipment that is subject to fouling buildup. For example, in Oil & Gas Upstream in certain areas ESPs are subject to Barium Sulfate deposits buildup on impellers. This causes ESPs to jam. Other example: valves in various areas of Oil & Gas
$6.5M equity round in Group holding Company is open (UK jurisdiction).
The round is to be closed by October 2019 or earlier.
The core group of Smart Money Investors from Saudi Arabia and Bahrain is already engaged.
Payback for Investors is planned in 2021-2022 in the form of dividends and/or a sale to a
strategic player.
Angara’s Clients enjoy having their heat exchangers and other equipment* clean most of the time.
Now our Clients can get cleaning job done anytime for most fouling, and between plant shutdowns.
They get higher profits as a result of significant efficiency boost.
Angara has already been successfully commercialized with largest corporations in Russia.
We are now relocating HQs & main base to Saudi Arabia & Bahrain to position Angara for global
growth, as well as to capitalize on already established relationships with Clients there.
Oil refining market size is valued over $6T @ 90+ mbbl/d throughput.
Hence potential value creation for Angara Clients is over $40B – in Oil Downstream alone.
Our breakthrough solution brings boost in revenues and significant efficiency improvements.
Additional opportunities are in Oil & Gas Upstream, as well as other industries,
like chemicals production, desalination plants, power generation, food processing, etc.
Angara’s key enabling component is AlfaPEROX cleaning technology. It consists of 3 main elements:
• Unique patented approach, including the proprietary process technology;
• Chemical composition that gets tailored to a specific Client and his equipment;
• Equipment to apply the chemical composition; the equipment contains software and algorithms
unique to AlfaPEROX, and it ensures the execution of the proprietary process technology.
Angara provides Clients data & parameters, so they develop Smart Schedule for equipment cleaning.
3. When you run
an industrial plant,
for example an oil refinery…
4. … your important equipment gets dirty with fouling, scale, deposits
4
5. 5
Fouling and scale buildup – kills efficiency
• The way business has
been done for years
• The industry is used to it
• Losses from lower
(than optimal) operational
efficiency have been
perceived as hardly
avoidable…
• The reality is now
different from this
established
perception
Fouling buildup is often a main factor of poor operational efficiency
Illustrative example
Relative heat transfer efficiency
6 12
0
Months
75%
50%
25%
Periodic maintenance during shutdowns
100%
average efficiency level
Lower
efficiency
Lower
profits
6. 6
Conventional cleaning methods are ineffective, inconvenient and
even ‘headachy’ it comes to treating oil & gas fouling*
Characteristics
Mechanical
methods**
Chemical
methods
01 No need to dismount and disassemble
02
Removes most types of fouling
including non-reactive fouling
03 Length of cleaning
04
Safe for equipment
no corrosive impact
05 Easy waste processing
06
Clean hard-to-reach areas
and non-demountable equipment
07 Green and environment-friendly
08 Time-tested
Product losses due to long
downtime
For limited types of fouling
* Focus on fouling, scale and deposits of non-reactive nature. They are especially often encountered in Oil & Gas refineries
** Including ultrasonic cleaning which also requires disassembly as a main operation. Thus it is also categorized as ‘mechanical’ method
Comparison of cleaning methods
7. The less equipment is clean, the more lost of economic value...
…and the bigger harm to our planet
IS THERE A SMARTER,
MORE PROFITABLE
AND GREENER WAY?
Source: H. Mueller-Steinhagen and A.P. Watkinson, "Fouling of Heat Exchanger--New Approaches
to Solve Old Problem", Heat Transfer Engineering’; Industry expert estimates; R. Steinhagen, H. Müller-Steinhagen, K. Maani
Problems and costs due to heat exchanger fouling in New Zealand Industries Heat Transfer Eng., 14 (1) (1993), pp. 19-30ж Angara estimates
global GDP
annual loss
due to fouling
$136B
contribution to global
C02 emissions due
to fouling buildup
2.5%
of the heat exchangers
have different
degrees of fouling
90%
7
8. 8
AlfaPEROX* is a smarter and more profitable way – thanks to its unique mix
of “Non-Disassembly – Effective on Most Fouling” cleaning. It is fast and safe.
Characteristics
Mechanical
methods**
AlfaPEROX technology
Chemical
methods
01 No need to dismount and disassemble
02
Removes most types of fouling
including non-reactive fouling
03 Length of cleaning
04
Safe for equipment
no corrosive impact
05 Easy waste processing
06
Clean hard-to-reach areas
and non-demountable equipment
07 Green and environment-friendly
08 Time-tested Already commercialized with major Oil & Gas
players
3-7 times faster
Best solution than any other ever
before
Product losses due to long
downtime
Safer than mechanical
method
For limited types of fouling
* AlfaPEROX is proprietary patented technology developed by Angara Industries
** Including ultrasonic cleaning which also requires disassembly as a main operation. Thus it is also categorized as ‘mechanical’ method
Comparison of cleaning methods
9. 2H2O2 2H2O + O2
9
AlfaPEROX is the key enabling technology of Angara Smart Cleaning.
How it works
* of >7 components that are fine-tuned to a particular fouling, equipment and process
Tailor-made composition*
to tightly control the process
Peroxide that gets decomposed
exactly in the right place and moment
Water
AlfaPEROX
key components
AlfaPEROX is protected
by international patents
10. 10
Angara brings paradigm shift. Smart Schedule Maintenance becomes a reality
Clients get – significant savings. Global CO2 emissions get decreased.
Service Providers (Angara’s Dealers) get – additional revenues.
Fouling buildup is often a main factor of low operational efficiency
Illustrative example
Relative heat
transfer efficiency
Average efficiency level
Months
75%
50%
25%
Relative heat
transfer efficiency
12
0
Plant Shutdown
Plant Shutdown
100%
Angara Smart Schedule
Maintenance
Significant savings
for Clients
Extra revenues
for Service
Providers
Months
75%
50%
25%
12
0
Plant Shutdown
Plant Shutdown
100%
Lower
efficiency
Lower
profits
Conventional
periodic
maintenance
during
shutdowns
New average
efficiency
level
11. 11
Smart Schedule Maintenance, in its turn, combined with
industrial IoT sensors make “Clean-Equipment-As-A-Service” a reality
‘Clean-Equipment-As-
A-Service’: longer term
relations with Clients
Payments only
if equipment works
at target level
Data protection
upon Client’s
standards
∆Т, P
∆Т, P
Long Term SLA*
Data driven
predictive cleaning
* SLA: Service Level Agreement
12. 12
Angara solution includes data & parameters input to Clients’ Asset* Management
Systems. With that Clients can generate Smart Schedules for optimal cleaning jobs
Analysis
Modeling
Implementation
Malfunction data
MRO data
Telemetry for 1+ years
01
02
03
Industrial expertise
Physics of the process
Temperature, pressure, and throughput
of material in cool loop
Temperature, pressure, and throughput
of material in hot loop
Ambient temperature and pressure
Main characteristics of materials
Production throughput
Temperature at outlet
(prediction)
Engineering model
of the process
Actual temperature — Predicted temperature =
ERROR
Deviation analysis —
abnormalities
Trends detection —
degradations
Calculation and prediction of Health
Index and heat transfer efficiency
for heat exchanger
air
Actual t◦
Predicted t◦
air
Actual data
Predicted data
Scope
2017-08-21
Prediction
present
Failure
Historical data
* Asset and / or Production Management Systems, Digital Twins and other existing plant management solutions to also optimize production
13. 13
Angara solution will be used in other industries and applications.
* Focus of Angara’s current business development
Angara technology connects physical with digital
within the Industry 4.0 context – to empower a
framework for Cognitive Cleaning which
integrates physical “Smart Chemicals” with the
digital analytics powered by IoT platform.
Recent technological advances triggered tectonic
disruptions in many markets, in customer behavior,
and gave rise to new ecosystems and trends.
Oil
Refining*
Cognitive Smart
Maintenance
Smart
AlfaPEROX
Sensor
Data Analytics
Individualized
Production
Adaptive
Business
Model
Delivery
Channels
Maintenanc
e as a
Service
Smart
Cleaning
Integrated
Ecosystem
Smart
Scheduling
Smart Recipe
preparation of individualized AlfaPEROX cleaning solution
based on equipment sensor data collection and analytics
Adaptive Business Model
cleaning equipment as a service with automated product
distribution within the delivery channels
Smart Cleaning
performing Smart Scheduling based on
technical and economical parameters of
equipment
We think it’ll be especially helpful for our Clients in boosting their ROI in their Digital Transformation projects
14. 14
Relocating main base to Saudi Arabia and Bahrain in Autumn 2019…
… to grow
globally
from Saudi
Arabia & Bahrain
Focus for Growth
Confirmed Interest
Active Projects
15. YASREF
Samref Yanbu
Yanbu
Jizan
Jeddah
Rabigh
Ras Tanura
Jubail
BAPCO
Mina Al Fahal
Duqm
Umm Al Nar Refinery
Aramco/Sinopec
Aramco Aramco
Aramco
Aramco
Aramco
Aramco
IPIC/ORPC
ORPC/Petroleum
Industries
ORPC
Takreer/ADNOC
Ruwais Ref
Sohar
Aramco/Total
ADNOC
15
Angara can create billions of dollars of value for this region
Country
Crude refining
capacity
kbbl/d
Potential
savings*
$ M
Angara revenue
estimates**
$ M
Saudi Arabia 3,180 1,590 72
UAE 885 443 20
Oman 533 267 12
Bahrain 260 130 6
Total 4,858 2,430 110
Example
Market Opportunity Estimate
$2.5B
Of annual benefit
for Oil & Gas
refineries alone
Saudi Arabia UAE Oman Bahrain
Aramco/Shell
Sasref Jubail
* Total possible AlfaPEROX related cost reduction/revenue maximization
** Assumptions: Market penetration 30%, Angara revenue 15% of savings
** Only for heat exchanges cleaning, other potential highly probably revenue is not included in the revenue estimate
Source: BP Statistical Review 2017 for refining volumes and Abu Dhabi Emirates Statistics Centre for oil production (2016 data), Thompson Eikon and company data for refining
capacities by company
16. Water desalination plants
(production >20 million m3/d, 72% of which thermal)
Valves (incl assembly of them) used to regulate the flow of
pipes in oil wells, gas wells, water injection and disposal wells
and other types of wells (big % of the refinery equipment cost)
Hot oil system in an offshore application
(ongoing research on feasibility)
Power plants
(ongoing research on feasibility and size of the market)
Electric Submersible Pumps
(lab tests successfully passed; pilot preparation)
Oil well collecting pipes cleaning
Column hot steaming procedure acceleration
16
Angara’s value for Clients goes well beyond heat exchangers in refineries
Applications of AlfaPEROX are being developed
for the GCC Region and global markets
Details on
the next slide
17. AlfaPEROX can become much faster
and safer method to maintain ESPs
Already successfully tested in laboratory
Pilot implementation preparations are in progress
17
Emerging applications example: Oil & Gas Upstream
Shorter downtime of wells: ESP* cleaning without ESP replacement
* ESP = Electric Submersible Pumps. ** SurgutNefteGas, a major Russian oil company
www.surgutneftegas.ru/en/
AlfaPEROX can clean
ESP impellers without
lifting of ESPs
Average number
of impellers
per ESP
360
Barium sulfate deposits
on impellers result
in ESP jamming
**
AlfaPEROX application area
18. 18
Partnership with Saudi Aramco will be bringing strategic benefits
for the Global growth – from Saudi Arabia
Potential of introducing Smart Schedule cleaning to the world via Saudi Aramco JVs
Saudi Aramco established 20 JVs and affiliates with global partners including:
Successful use-case with Saudi
Aramco will provide referral
support for global expansion
Japan
Showa
Shell
China
Fujian Refining &
Petrochemical Co Ltd
Egypt
SUMED – Arab
Petroleum Pipelines Co
Europe
TEAM
Terminal
USA
• Motiva Enterprises
• Saudi Petroleum International
Inc
• Saudi Refining Inc
Domestic
• Sadara Chemicals Co (The Dow Chemicals)
• Saudi Aramco Mobil Refinery Co
• Saudi Aramco Shell Refining Co
• Saudi Aramco Total Refining & Petrochemical Co
• Yanbu Aramco Sinopec Refining Co Ltd
Malaysia
Prefchem
S. Korea
S-Oil Corp
19. ANGARA high level development overview: 3 STAGES
19
Sales
Production
Team
Financing
STAGE 3
100% localization
2-2.5 years
STAGE 2
Scaling up operations
12-18 months
STAGE 1
First 2-3 pilots
First 6-9 months
2-3 paid (commercial) pilot
implementations in GCC
Technical support from the laboratory
and production in Moscow - initially
Small scale production localized
5 incl. CEO, CTO
relocated to GCC
key
professionals
$2.5M $10+M $15-20M
Full scale production as well as laboratory
is established in GCC
(Bahrain and Saudi Arabia)
Production expanded
Full R&D capabilities in GCC
25-30
people
Saudi Arabia
or GCC Head hired
50-70
people
Several international
offices
$60-75M $20-25M
in sales in gross margin
$10-15M Profitable
20. 22
Angara Leadership Team
Valery
Krivenko
Co-Founder & Chairman of the Board.
Managing Partner of FPI, VC firm focused on
businesses on science driven technologies.
Member of National Venture Council of Russia;
Officer at YPO Moscow Chapter.
Various roles at Bright Capital, ONEXIM Group,
SIBUR, McKinsey & Company, Roland Berger.
MBA from London Business School
and studies at UCLA in California
CHAIRMAN OF THE
BOARD
Peter
Petrov
Co-Founder, IR, Global Business Development;
Worked Executive Director at Morgan Stanley
for over 9 years; Head of Markets at Barclays
Russia; Advisor to the President of VBRR
(Subsidiary Bank of Rosneft).
MBA from The University of Chicago Graduate
School of Business (Booth); and JD from
Moscow State Academy of Law. Studies at Hong
Kong University of Science and Technology
School of Business (HKUST).
Alexander
Suvorov
Chief Technology Officer of Angara.
14 years experience including 4 years
as CTO at DÖCKE EXTRUSION.
B.S. from Gomel State Technical University.
CTO
Viktor
Semenikhin
Head of Research & Development of Angara.
Gained over 20 years of experience in heat
exchangers cleaning and industrial water
treatment.
PhD in Chemistry from Moscow State
University.
HEAD OF R&D
Eduard
Cherednik
Chief Digital Officer.
20+ years of international experience in Oil & Gas.
Digital Transformation Executive at IBM GBS,
Regional Manager at HIS; Vice President for Oil &
Gas, Europe at AECOM; Regional Manager, Fugro.
M.S. in International Business from the Academy of
Economic Science in Bucharest.
CDO
Ilya
Rodin
Co-Founder & CEO.
As Partner of FPI VC - managed innovation
focused and science intensive projects.
M.S. from Moscow Institute of Steel & Alloys;
Diploma in Engineering from TU Bergakademie
Freiberg;
MBA from Moscow School of Management
Skolkovo
СЕО,
BOARD DIRECTOR
DEPUTY CEO,
BOARD DIRECTOR
21. Angara
GCC
• New Headquarters
• Laboratory
• Production
Clients
• Cleaning service using
Angara components &
technology
• The concentrate
• Training, tech support, supervision
• License to use the technology
• Technology & product upgrades
Dealers
23
Investors join the ANGARA opportunity on the Group holding level
Angara Industries Ltd. owns all Angara Group assets, including Intellectual Property
Smart Money Partners
67%
100%
To be moved to the region
in 2-3 months
• Key team members
• Technology w. client
references
• Expertise & Know How
• Main focus and HQs
Sales
Ownership
Angara JV
Singapore
Angara Industries Ltd. (UK)
100%
Angara
Russia
$6.5M
investment
Parameters, data and help to Clients so they generate Smart Schedules for the best cleaning