BridgeTech STT Corporate Presentation September 2008

Solar Thermal Technologies

Corporate Presentation
September 2008

© 2008 Solar Thermal Technologies (a BridgeTech Industries business )

mission statement

to offer leading edge technology to make the
cost of solar energy competitive with fossil-fuel
powered sources today

2

about Solar Thermal Technologies

• established January 2008
• extensive energy regeneration and systems integration
experience
• core engineering team has worked together for three
years
• rights to exclusive global license to energy regeneration
system
• owns pertinent technology IP and patents
• strategic partner with Lawrence Livermore Labs
• global footprint with centre of excellence currently based
in California, USA and London, England

3

the business opportunity
• With a 40% increase in clean energy markets from 2006 to 2007,
industry reports put clean energy and technology squarely into the
mainstream
• The four clean energy sectors-solar photovoltaics, wind, biofuels, and
fuel cells-saw an increase in revenue growth from $55 billion in 2006
to $77.3 billion in 2007. Solar, wind, and biofuels each had more than
$20 billion is revenues.
• Projected revenues from clean energy technologies will grow to
$254.5 billion by 2017
• Solar and wind have sustained a 40% growth since the beginning of
the decade
• Although solar energy is still two to three times more expensive than
traditional energy, as costs come down, solar will increase its market
share
• In 2007, almost 3,000 mega-watts of solar power were installed
worldwide

Source: Clean Energy Trends 2008, Clean Edge

4

solar thermal energy systems

• sunlight is concentrated as heat, unlike photovoltaic
systems that convert sunlight directly to electricity

• the heat may be
– stored (thermal battery)
– used directly
– converted to mechanical energy (heat engine)
– converted to electricity (heat engine + generator)

5

energy production waste

6

increased energy utilization

7

typical photovoltaic regenerative
power system

8

typical centralized CSP

9

typical distributed CSP

10

solar combined heat & power
(CHP) system

11

Lawrence Livermore solar thermal
technology
• Lawrence Livermore National Labs has already invested
$1.92M in Research & Development

• includes both terrestrial applications (GyroSolé™) and
aerospace (Solar Thermal Aircraft Patent)

• extensive laboratory testing of various sub-systems, including
innovative new heat engine, has provided strong validation

• inventor Dr. Charles L. Bennett holds seven* patents relevant
to advanced solar thermal technology

12

Gyrosolé™ system schematic

13

Gyrosolé™ laboratory demonstration

The Gyrosolé™ Heat Powered Engine & Thermal Energy Storage System at Lawrence Livermore. Commercial engine
will be MUCH simpler.
(DVD can be provided which shows engine in action.)

14

Gyrosolé™ system overview - I

1. Concentrating solar heat collection system—an efficient and
inexpensive collector that tracks the sun and concentrates its incident
energy as heat; it employs a proprietary alignment scheme and
receiver design for improved efficiency over existing technology.

2. Thermal energy storage system—an efficient and inexpensive
“thermal battery” that enables, in particular, collection of full
morning’s solar heating for production of electric power in the
afternoon during the period of peak power revenue and maximum
consumption. It also enables the recycling of “waste” heat from the
production of electricity, a unique feature that significantly enhances
system efficiency.
………

15

Gyrosolé™ system overview - II

3. Heat engine & generator—an innovative and potentially inexpensive
system for the generation of electric power, even at modest (~1 kW)
power levels, but applicable to much higher power levels as well (~500
kW). This heat engine, or “Harmonic Engine”, is a unique design that
promises significantly better performance-to-cost levels than current
Stirling engine technology.

4. Control system—a digital system that provides control of the various
components for optimal performance. Significantly, it includes a method of
energy arbitrage to deliver electric power to the electric grid primarily
during periods of peak revenue (for maximum economic benefit).

16

Livermore innovations

• highly scalable (~1 kW to ~500 kW)

• new heat engine and simple thermal Stirling Engine
storage are key enabling technologies
• employs several well-established
technologies brought together in unique
way for low-risk and low-cost

• offers distributed combined heat and
power solution for residential,
commercial, light-industrial consumers

• others…

17

intellectual property (IP)

The following inventions have patents issued:
• US7270295 quot;Solar Thermal Aircraftquot;
• 11/543659 (+PCT filing) quot;Residential Solar Thermal Power
Systemquot;
• 11/710391 quot;Self Pressurizing Stirling Enginequot;
• 11/731253 (+PCT filing) quot;Rankine-Brayton Engine Powered Solar
Thermal
Aircraftquot;
• 11/801987 (+PCT filing) quot;Harmonic Enginequot;
• 12/030065 quot;Solar Thermal Power Systemquot;

The following inventions are undergoing patent protection:
• quot;Year-round Solar Thermal Energy and Electric Power Plantquot;
• quot;Improved Ericsson Enginequot;

18

our competitive edge - I
Suitable for Independent Provides Yields Direct System Efficiency
Feature/
Individual of the Power Stored Mechanical of Solar Energy
System
Consumer Grid Heat Power Exploitation
GyroSole™
Energy Yes Yes Yes Yes 80% to 90%
System

Solel SEGS No No No No 15% to 20%

Solargenix
No No No No 15% to 20%
SEGS

PV Panels Yes Yes No No Typically 15%

Companies below do not yet have a commercially available product

Suitable for Independent Provides Yields Direct System Efficiency
Feature/
Individual of the Power Stored Mechanical of Solar Energy
System
Consumer Grid Heat Power Exploitation
Stirling
Yes Yes No No ~25%
Energy
Systems

Infinia Yes Yes No No ~25%

CoolEnergy Yes Yes Yes No ?

Brayton
Yes Yes No No ?
Energy

19

our competitive edge - II

energy cost comparison

Feature/ Cost of Electric Cost of Thermal System Efficiency of Solar
System Energy Energy Energy Exploitation

GyroSole™
Energy 6 ¢/kW eh 2 ¢/kW th 80% to 90%
System

Solel SEGS 12 ¢/kW eh N/A 15% to 20%

PV Panels 21 ¢/kW eh N/A Typically 15%

20

strategic partner

Lawrence Livermore National Labs (US)
• premier research and development institution for science and
technology
• pursues programs in advanced defense technologies, energy,
environment, biosciences, and basic science
• serves as a resource to the U.S. government and is a partner
with industry and academia
• developing programs designed to contribute to the scientific
and technological basis for secure, sustainable, and clean
energy resources for the U.S. and which reduce environmental
risk
• is engaged in more than 400 projects in the energy and
environmental area

21

market analysis
2008 2009 2010 2011 2012

Potential Customers

Consumer 5 6.3 7.8 9.8 12.2

Commercial/Light Industrial 20 25 31.3 39.1 48.8

Aerospace 1 1.3 1.6 2.0 2.4

Other 0.5 0.6 0.8 1.0 1.2

Total 26.5 33.1 41.4 51.8 64.7

Total market revenues in billions of US dollars

Consumer
Commercial/Light Industrial
Aerospace
Other

Source: New Energy Finance, 2008

22

business model

• a “phased approach” is envisioned for the evolution of the power
systems

• Initial work will focus on rapid development of a terrestrial
solar power system that has dramatic market potential
– consumer
– commercial/light industrial

• this system will then be used to leverage the development of the
aerospace power system integral to the success of Unmanned
Air Vehicles (UAVs) such as the AerNavis Navis-NS ship.

23

financials – 5 year forecast
FY 2009 FY 2010 FY 2011 FY 2012 FY 2013

Sales

Consumer $0 $0 $10,000,000 $25,000,000 $95,000,000

Commercial/Light Industrial $0 $0 $40,000,000 $120,000,000 $360,000,000

Aerospace $0 $0 $0 $5,000,000 $20,000,000

Total Sales $0 $0 $50,000,000 $150,000,000 $475,000,000

Cost of Goods Sold $0 $0 $25,000,000 $75,000,000 $230,000,000

Gross Margin $0 $0 $25,000,000 $75,000,000 $245,000,000

Gross Margin % 0.00% 0.00% 50.00% 50.00% 51.58%

Total Operating Expenses $3,091,800 $4,155,000 $5,494,000 $8,532,000 $12,219,000

EBITDA ($3,091,800) ($4,155,000) $19,506,000 $66,468,000 $232,781,000

Net Profit ($3,091,800) ($4,155,000) $19,506,000 $66,468,000 $232,781,000

Net Profit/Sales 0.00% 0.00% 39.01% 44.31% 49.01%

24

financials – projected sales/profits
FY2009 FY2010 FY2011 FY2012 FY2013

Revenues 0 0 50 150 475
EBITDA -3.09 -4.16 19.51 66.47 232.78

$500,000,000

$400,000,000

$300,000,000

Sales
$200,000,000 Gross Margin
Net Profit
$100,000,000

$0

($100,000,000)
FY 2009 FY 2010 FY 2011 FY 2012 FY 2013

25

financials – projected yearly profit

$250,000,000

$200,000,000

$150,000,000

$100,000,000

$50,000,000

$0

($50,000,000)
FY 2009 FY 2010 FY 2011 FY 2012 FY 2013

26

questions and answers

27

BridgeTech STT Corporate Presentation September 2008

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