Sulfurcell Solartechnik GmbH

EXCELLENCE IN CIS-TYPE THIN-FILM PV
AND SOLAR CONSTRUCTION
SOLAR CONSTRUCTION
SUSTAINABILITY
TECHNOLOGY
Company presentation | September 2010 | German Solar Day 2010
Sulfurcell’s history: Passion for CIS since 1991
1991
2003
Research
HMI lab
2008
Pilot Production
CIS technology
Sulfurcell’s products
in application
Mass Production
Sulfurcell’s 35 MW facility
1991 to 2001 Hahn-Meitner-Institut Berlin takes lead in thin-film technology based on
Copper-Indium-Sulfide (CIS) (European research project “Sulfurcell” 1998 – 2001)
2000
Nikolaus Meyer & partners start planning and funding Sulfurcell
a pilot production for CIS-type PV-modules (founding: July 2002)
2003 (April)
2005 (Dec.)
2005 to 2008
2008 (July)
2010 (April)
First financing round of Sulfurcell
Market entry
Pilot production
35 MW expansion started
Ramp-up started (completion 4Q10)
Company presentation | September 2010 | German Solar Day 2010
SULFURCELL
More than 200 years of combined
CIS experience in staff of 50 highly
qualified engineers
Page 2
Blue-chip investors back Sulfurcell’s growth
Shareholders
Private Equity investors, a.o.:
−
−
−
−
−
−
−
−
−
Intel Capital (Santa Clara)
Climate Change Capital (London)
BEU (Vattenfall, GdF Suez) (Berlin, Paris)
Demeter Capital (Paris)
Zouk (London)
AIG (Zürich)
Bankinvest (Kopenhagen)
Ventegis Capital (Berlin)
Masdar (New York)
Helmholtz Center Berlin
(former Hahn-Meitner-Institut)
Management
Last financing round
2008: € 85m of equity
Company‘s presentation | September 2010 | Confidential
Board Members (from left)
− Kalman Kaufman (Chairman)
Former corporate vice-president of Applied Materials
− Gerhard Stryi-Hipp
Fraunhofer Institute for Solar Energy Systems
− Raoul Arvengas
GdF Suez
− Heiko von Dewitz (Observer),
Intel Capital
− Alex Betts,
Climate Change Capital
− Stefan Beyer,
Ventegis Capital
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PV market development to 2020: Market analysts
expect CIS to emerge as leading technology
Global Annual PV Installations (MW)
Thin-film PV Installations - Technology Split
Source: GBI Research 2010
Source: GBI Research 2010
60.000
c-Si
50.000
13%
25%
Thin-Film
CIGS
37%
40%
27%
40.000
43%
30.000
CdTe
36%
20.000
35%
60%
10.000
32%
a-Si
27%
25%
2015
2020
0
2005
Company presentation | September 2010 | German Solar Day 2010
2010
Page 4
Independent market experts project massive cost
reduction and excellent competitiveness for CIGSe
Trends
− German manufacturers of crystalline Silicon
(c-Si) type modules will suffer from
decreasing competiveness against both
Chinese manufacturers and thin-film
producers
− As soon as thin-film producers achieve
multi-100 MW scale and efficiency beyond
10%, they will be able to compete against
Chinese poly-Si manufacturers even when
they don’t produce in Asia.
− CdTe (First Solar) will keep cost advantage
due to manufacturing scale. But: Growing
environmental concerns against CdTe
hinder application in the high-margin
residential segment.
Company presentation | September 2010 | German Solar Day 2010
Cost Projection Roland Berger (2010)
2010
2013
1,50 €/W
1,23 €/W
0,86 €/W
0,70 €/W
0,80 €/W
0,53 €/W
c-Si (CHIN) c-Si (GER)
0,78 €/W
0,64 €/W
a-Si/µ-Si
0,44 €/W
CdTe
0,52 €/W
CIGSe
− Roland Berger’s cost projection for thin-film
Silicon (a-Si/µ-Si) depends on efficiency
increase to more than 10 %. Applied
Materials as a major player did not reach
this target and gave up.
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Gen2 technology: First 86 W modules (10.6% eff)
after 4 month of process development
Current project status
Champion module and cell efficiency
− Process development has resulted in 86 W
champion module (absorber material:
Copper-Indium-Gallium-Diselenide)
− Small area solar cells show efficiencies of
13.4% enabling more than 90 W per module
Next step: Adaption of process steps
following CIS deposition
− Efforts on hardware focus on preparing
machine for continuous operation
− In the process of product qualification
Date of manufacture (2010)
Company presentation | September 2010 | German Solar Day 2010
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Sulfurcell Highlights
Strong Growth
Potential
– Long-term growth story of PV industry intact
– Building integrated PV (BIPV) as key beneficiary of market segment convergence
– Excellent growth perspective of CIS-type modules
Unique
products
– Outstanding expertise in BIPV segment
– Specialised modules and system solutions for solar construction and BIPV
Successful
Commercial
Proof
– 100,000 modules produced and sold since 2005
– Off-take agreements over 100 MW with German and 16 MW with Asian customers
– Run-rate of 10,000 modules per month and ramp up to full capacity in progress
Proprietary
CIGS(e)
Technology
– Proprietary CIGS- and CIGSe-based technology (Gen1/Gen2)
– Switch from current Gen1 to higher-efficiency Gen2-technology in progress.
– Recent milestones achieved: Modules with 11% total area efficiency
– Exclusive collaboration with Europe’s largest research institute for thin-film PV
Convincing
Cost Roadmap
– Existing Gen2 efficiency roadmap towards >14% module efficiency by 2015
– COGS of ~0.65 €/W by 2014 (200 MW facility) and ~0.48 €/W on 1 GW scale
Scarcity Value
– Leading player within narrow CIS universe
– Advanced development stage in terms of technology and market traction
Solar Roof Tile
Appealing Roof-top
Solutions
Low Weight Flat
Roof System
Solar Cladding
Company‘s presentation | September 2010 | Confidential
Page 7
Building integrated photovoltaics (BIPV)
as key beneficiary of market segment convergence
Feed-in tarifs for BIPV in 2010 in €/kWh
Source: Solarserver Aug 2010
Effects pushing BIPV
− PV is perfectly suited for
decentralized power generation
(no noise, no scale need)
− PV very close to competitiveness
with retail electricity prices being
paid by houseowners already in
Europe and soon in North America
− Several global PV programs provide
incentives to apply PV in buildings
− Unlimited potential for BIPV in
space, e.g. Europe:
3,700 km² / 465 GW (EPIA09)
0,65
Ground mounted
BIPV
0,58
0,48
0,45
0,48
0,39
0,38
0,32
Belgium
France
Germany
Italy
0,34 0,36
South Korea
Market segmentation forecast for major EU markets 2009
Source: EPIA 2009
22%
Building
applied or
integrated
PV
41%
47%
84%
4%
58%
25%
55%
5%
11%
28%
Germany
Italy
BAPV
Company presentation | September 2010 | German Solar Day 2010
BIPV
20%
France
Spain
Ground mounted
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Solar architecture
Private house in France applying Sulfurcell’s RI modules
Company presentation | September 2010 | German Solar Day 2010
Conventional PV installations
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BIPV requires adapted modules and systems
Customer demands in BIPV
Modules and systems:
− Easy and cost-effective installation
− No on-roof maintenance,
reliability over 25 years
− Safety (fire protection)
− Architectural attractiveness
− No impact on environment in case of fire
In case of small residential roofs
− High power per m² ⇒ High efficiency
Company presentation | September 2010 | German Solar Day 2010
Page 10
Sulfurcell‘s system solution for residential buildings
Roof integration modules with
the well established Swiss framing
system SOLRIF
− Replace roof tile, rain tightness comparable
to conventional roof-tile
− Offered as 3 kW kit including all mounting
materials (pieces 1-13 on picture),
inverter, cabling (system size: 40 m²)
− Save costs of conventional roof covers
(approx. 25 €/m² @ 30 Ct/Wp)
− CSTB’s Pass Innovation expected
in fall 2010
Company‘s presentation | September 2010 | Confidential
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Sulfurcell serves the market with a broad spectrum
of different module types for solar construction
SULFURCELL’S PRODUCT PORTFOLIO
Framed module:
The powerful allrounder
Laminate module:
Cost-optimised quality module
Roof-integrated module:
Solar roof tile
− Resilient: Excellent load capacity
− Robust: 5 mm front panel
− One of the most attractive modules
on the market
− Extra output due to
excellent self-cleaning
− Module with twin benefit: Roof tile
replacing passive roofing material
and energy generator
Company presentation | September 2010 | German Solar Day 2010
Page 12
Sulfurcell solutions for solar construction
Solutions specialized on building needs and designed for aesthetic excellence
Roof integration
PV facades
Solutions for industrial roofs
− Modules replacing roof tile
− PV applied as cladding element
− Cost-efficient solution making
benefit of both module material and
PF function
− Architectural grade-up for buildings
− Load optimized solutions being
applicable on large factory roofs
Company presentation | September 2010 | German Solar Day 2010
− Superior performance at elevated
temperatures and low insolation
angles
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System solutions for industrial roofs
− Optimised system solution for soft roofs
(no roof penetration necessary)
− Minimised system weight and wind load
− High power density due to low angle
installation (approx. 55 kW per 1000 m²
with Sulfurcell modules)
− High energy output due to superior
performance of Sulfurcell modules under
heat and low angle insolation
Wind shield
Foil
Isolation material
Company presentation | September 2010 | German Solar Day 2010
Page 14
Sulfurcell Fassade System
Company‘s presentation | September 2010 | Confidential
Page 15
Sulfurcell’s PV facades grade up office buildings
and reduce energy need by 10 – 30 %
− Construction: Frameless glass module glued
on metallic cladding elements
− Function: Covering isolation, leading rain,
generating power
− Architectural benefit: Upgrade for simple
cladding systems
Application of PV facade
cassettes in Sulfurcell’s
headquarter in Berlin
Accepted by Berlin authorities for
application in heights above 8 m
Company presentation | September 2010 | German Solar Day 2010
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Cost & Efficiency perspective
Cost of Sales (frameless modules)
− Superior efficiency will bring Sulfurcell
to cost leadership in the PV industry
< 0.50 €/W on 1 GW-scale
− Efficiency advantage against First Solar
will bridge scale-related drawback in early
development phase
− Sulfurcell’s Berlin plant expanded
to 200 MW:
– Cost of sale: < 0.70 €/W
Company presentation | September 2010 | German Solar Day 2010
Module Efficiency
Page 17
Sulfurcell’s road map
Berlin plant
2008
2011/12
Stage of completion: I
Base mode (35 MW)
Stage of completion: II
Full capacity mode (200 MW)
200 MW
US plant
200 MW
French plant
Current investors
(a.o. Intel, CCC, Vattenfall, GdF Suez)
Company presentation | September 2010 | German Solar Day 2010
International
roll-out
Asian plant
Introduction
of mass
production
Start
200 MW
Large private equity or
strategic investors / IPO
Page 18
Thank You
Q&A
Boris von Bormann
SULFURCELL Solartechnik
Santa Monica, CA 90405
USA
www.sulfurcell.com
vonbormann@sulfurcell.de
Phone: +1 (310) 982-7633
Company presentation | September 2010 | German Solar Day 2010
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