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DEPLOYING NORTH AMERICA’S LARGEST 2ND LIFE BATTERY STORAGE PROJECT
- 1. B2U STORAGE SOLUTIONS Company Overview March 28, 2022
- 2. 2 © 2021 B2U Storage Solutions Inc. All Rights Reserved | Confidential and Proprietary B2UStorageSolutions,Inc.(B2U)develops energystoragesystems (ESS) usingproprietarytechnologytorepurposeEVbatteries,achievingasuperior levelizedcostofstorage. • B2U’s patented EV Pack Storage (EPS) System deploys 2nd life batteries from EVs, reusing the entire EV battery pack without battery reconfiguration • Delivers a superior CapEx and Levelized Cost of Storage (LCOS) advantage • EPS System is configurable and can be deployed with any EV battery as demonstrated at Lancaster. • Commercial operations began May 2020, selling into CAISO wholesale market as a merchant resource Through our patented EV Pack Storage (EPS) solution, B2U develops and operates battery energy storage systems (ESS) that utilize EV batteries for large scale storage applications. Our storage projects are interconnected near load, selling electricity and grid services. B2U’s energy storage project in Lancaster, CA 1B2U: Battery 2nd Use
- 3. 3 © 2021 B2U Storage Solutions Inc. All Rights Reserved | Confidential and Proprietary B2U’spatentedandULcertifiedEVPackStorage(EPS)Systemenablestheuse ofEVbatterypackswithoutreconfigurationinlargescaleenergystorage. HVAC environmental controls Battery racks Second life battery packs Power and control wiring DC combiner B2U’s EPS deployment at Lancaster has achieved UL9540 certification Battery Pack Controller (BPC) • Manages and monitors Battery Packs • Interfaces with system SCADA and CAISO market operations • Interfaces with Power electronics • Hub for intelligent controls of cabinet thermal management and hazard detection • Coordinates pack balancing • Easily configurable by battery type
- 4. 4 © 2021 B2U Storage Solutions Inc. All Rights Reserved | Confidential and Proprietary B2U’sEPSsystemiseasilyconfigurablefordifferentbatteries;theLancaster projectutilizesbatteriesfrommultipleautoOEMs.
- 5. 5 © 2021 B2U Storage Solutions Inc. All Rights Reserved | Confidential and Proprietary B2U’sLancasterprojectwillhave17MWhoperationalinQ2,expandingto 28MWhbytheendof2022.
- 6. 6 © 2021 B2U Storage Solutions Inc. All Rights Reserved | Confidential and Proprietary B2U’sproprietaryEPSisseamlesslyintegratedwiththepowerelectronicsand SCADAcontrolsoftheoverallESS. Communication Power Solar PV Array Inverter Battery Storage Cabinets DC-DC Converter Battery Pack Controller SCADA Cloud-based EPS Controls Power Management & Market Operations System 1 B2U Energy Storage System (ESS) Power Grid B2U EV Pack Storage (EPS) System Intelligent Controls Smart Combiner Internet B2U has developed a proprietary system to manage ESS market operations with automated bid submission which dynamically adjust based on system and market conditions.
- 7. 7 © 2021 B2U Storage Solutions Inc. All Rights Reserved | Confidential and Proprietary B2Uisaleaderinlifecycle management,deploying2ndlifebatteriesinlarge scalestorageprojectsachievingUL9540certification,supportingcost-effective recyclingatendoflife. Source: https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201720180AB2832 Battery/EV Manufacturer Battery Use Battery Reuse Battery Collection Recycling Raw materials extracted, processes, and go into cell/pack manufacturing Batteries are used in small and heavy-duty transportation Batteries are retired from EV’s and collected by various entities. Batteries are tested, graded and repurposed; used in second-life applications e.g. energy storage EV Battery Value Chain Raw Material Reintroduction Battery/EV Manufacturer Battery Use Battery Collection Recycling Recycled Material Direct Recycle Pathway “Reuse then Recycle (RTR)” promotes extending the useful life of EV batteries after their initial use on wheels while providing a solution to end-of-life management. • Direct Recycling represents a net-cost LCM pathway • Reuse before recycling is a pathway for lifecycle management at a net-value CA’s AB2832 legislative report cites B2U as a prime example of battery Reuse / Repurposing.
- 8. 8 © 2021 B2U Storage Solutions Inc. All Rights Reserved | Confidential and Proprietary Reuseandrepurposingarevalue-addedsegmentswithanimportantroleto playinEVbatterylifecycle managementthatwillcontinuetoevolve toachieve closedloopsystemgoalscosteffectively.
- 9. 9 © 2021 B2U Storage Solutions Inc. All Rights Reserved | Confidential and Proprietary Logistics Repurposing Reuse Value Reycling Logistics Recovered Materials Net Value ($25) ($20) ($15) ($10) ($5) $0 $5 $10 $15 $20 $25 Initial Costs Value End-of-Life Costs Material Recovery Net Logistics Processing Recovered Materials Net Value ($25) ($20) ($15) ($10) ($5) $0 $5 $10 $15 $20 $25 Costs Revenue Net WhatvaluedoesReuseneedtocreatetomakesenseonariskadjustedbasis overdirectrecycling? Whatsegmentsbyusecase,batterychemistry,etc. supportreusebeforerecycling? Direct Recycling case indicates a net-cost. RTR case provides a net-value opportunity for LCM Key Notes: • Comparing an illustrative RTR case to direct to recycling, the net benefit of RTR versus DR is ~$22/kWh. • RTR case is modeled on a risk-adjusted basis considering cost of capital Net Cost Only Recycling ($kWh) Reuse then Recycling ($kWh) ($11) (-) (+) Net Benefit
- 10. 10 © 2021 B2U Storage Solutions Inc. All Rights Reserved | Confidential and Proprietary RTRrepresentsanattractivepathwayforEVBlifecycle management,providing economicvaluetostakeholders,ensuringcosteffectiveendofliferecycling. Key Takeaways: • OEM Cost Reduction/Economic Benefit: Reuse then Recycle provides a pathway for lifecycle management to be completed while creating economic value versus as a net- cost. • Battery Logistics and Management: Establishing strategies for second-life require more universal systems for managing battery logistics at end of life. These systems ensure full lifecycle utilization of EVB’s, with accountability for end-of-life management of recycling. • Energy Resilience & Economic Potential: Deploying EVB’s in second life applications such as stationary storage allow for increased penetration of renewable energy to power grids and local communities. Developers and stakeholders can achieve strong economic returns due to low LCOS with effective technologies for Reuse. • Environmental & Regulatory: RTR pathways can provide direct lifecycle GHG emissions reductions by extending the EVB lifetime, as well as potential emissions reductions from use in energy storage applications.
- 11. 11 © 2021 B2U Storage Solutions Inc. All Rights Reserved | Confidential and Proprietary UtilizationofEVbatteriesforstationarystorageapplicationsisprojectedto representaglobaladdressablemarketofover$12billionby2030. Source: IDTechEx “A new opportunity for the power sector is emerging: stationary storage powered by used EV batteries, which could exceed 200 gigawatt-hours by 2030” - McKinsey 2019 report - 20,000 40,000 60,000 80,000 100,000 120,000 140,000 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 MWh Global 2nd Life Battery Market International Used EV Battery Market, BEV Passenger Car Only (MWh) U.S. Used EV Battery Market Size 10% 12% 15% 18% 21% 24% 0% 20% 40% 60% 80% 100% 2021 2023 2025 2027 2029 EV Battery Destinations After Initial Use Refurbished/Repaired for Mobility 2nd Life Stationary Storage Exported/Unaccounted Direct to Recycle Stationary storage will be increasingly prevalent, expanding in market share over other ‘destination’ segments after batteries complete their initial use • Direct to recycling is an expense where other options are revenue opportunities • Refurbishing for reuse on wheels is attractive but declining due to manufacturing trends • Exports and system leakage will be reduced by EPR regulations
- 12. 12 © 2021 B2U Storage Solutions Inc. All Rights Reserved | Confidential and Proprietary B2Uleadershiphasextensiveexperienceinpowersystems engineeringand development,aswellasEVbatteriesandcontrols. Michael Stern, COO • Co-founded Solar Electric Solutions • CEO of Utility Power Group, and VP of Utility Projects for Kyocera Solar • BS UCLA (Materials Engineering) Freeman Hall, President • Co-founded Solar Electric Systems • Led strategy and acquisitions at Turner Renewable Energy; sold to First Solar • Ecos Technologies (cloud-based enterprise software) • Andersen Consulting Strategic Services • BA Duke, MBA Kellogg Northwestern Andrew Wang, Development • 25 years in energy technology, utility operations, development • Director of Development, SolarReserve 2010 - 2019 • BS UC Berkeley (Mechanical Engineering), MS Stanford (Environmental Engineering), MBA Anderson UCLA B2U Advisers Tim Belden EnergyGPS; modeled battery revenue for B2U at Lancaster & other volatile CAISO nodes Dr. Gary Dorris Ascend Analytics; modeled battery revenue for B2U at Lancaster CAISO nodes Hans Eric Melin Circular Energy Storage; expert on EV and 2nd life battery industry Susan Schneider CAISO VP, PG&E Greg Landreth, Power Market Operations • Frontier Energy • Wero LLC • BSC Duke, MS/MPA University of Texas, Austin Edward Becker, Controls Engineering • Frasca International, head of embedded systems engineering • BS Purdue University (Electrical Engineering), Brad Smith, Adviser on Batteries and Battery Sourcing • Developed, led, and operated Nissan’s Leaf battery lifecycle and 2nd life battery operations between 2012 – 2019 • Director, NRG eVgo 2010 – 2012, Development & Operations, Shell Hydrogen LLC 2001-2012 • BS South Dakota School of Mines & Tech, MBA Houston
- 13. 13 © 2021 B2U Storage Solutions Inc. All Rights Reserved | Confidential and Proprietary Withsignificantcompetitive advantages B2Uisuniquelypositionedforsuccess inacompellingmarketopportunity. • Significant market opportunity ($12B by 2030) • Market leader with sustainable competitive advantages • Patent-pending EPS system featuring proprietary battery pack controller software • Proven EPS solution with demonstrated system performance at B2U projects • Sustainable cost advantages by pairing EPS with 2nd life batteries and a proven track record of performance • Development expertise and IPP experience • Integrated with business processes of auto OEMs and with EV battery logistics channels as market leader in 2nd use applications • Business model well suited to challenges of implementing EV battery lifecycle management at scale • Experienced management team with track record of success
- 14. For more information, visit b2uco.com Freeman Hall, President fhall@b2uco.com