Powervault: Powering the Smart Home

Contents What is Powervault? History of Powervault Features Cheshire East project The future of Powervault

What is Powervault?

What is Powervault? A fully-integrated domestic electricity storage device. Giving homeowners a brand new opportunity to store their own self-generated renewable electricity, or cheap electricity from the grid. Enabling efficiencies that provide value and economic benefit to both homeowners and grid operators.

Lead Acid AGM, Lead Acid Tubular Gel, or Lithium-ion batteries. Battery capacities range from 2 to 6kWh usable capacity of energy storage. Connected on the AC side of the house, so the installation is straightforward, and Powervault is universally compatible with all solar PV panels.

History of Powervault

The history of Powervault 2012 2014 2015 2013 2016 Powervault incorporated SVDP incubation £50k seed investment Patent submitted Prototyping Grant funding wins £150k seed round Product developed First sales and partners established £900k investment Sales expansion Outsourced manufacturing Lithium-ion product launch More intelligent, functional and efficient product launched Crowdcube campaign raising £1.5 million Further sales expansion

Features

Cheshire East Project

Project Participants Peaks and Plains

The Objective “To determine the potential benefits of home electricity storage of solar PV generated electricity for social housing tenants in fuel poverty”

Study Design Battery Cohort (22) 17 Bungalows in Macclesfield (Peaks and Plains) with elderly/vulnerable residents meeting Fuel Poverty criteria 5 Semi-detached houses in Knutsford (Longridge; Great Places) with low income residents meeting Fuel Poverty criteria Control Group - No Battery (4) 4 Bungalows in Macclesfield with residents not in Fuel Poverty All properties in study have pre-installed solar arrays (3KW) Utility usage patterns monitored via regular logging of meter readings, tracking of utility bills and via data collected by Powervault Study to run Oct 2016 – March 2017, and has been extended to Sept 2017

The Battery NOMINAL CAPACITY 6.6kWh USEABLE CAPACITY 3kWh

How it works The battery enables “time shifting” of use of locally generated power The battery detects when power generation exceeds demand and diverts excess power to charge the battery When the battery detects import from the grid it switches the battery to discharge to meet the demand Lower grid demand equals lower bills No impact on FiT payments Best result should be achieved through resident awareness of battery status

Battery Installation and Monitoring

Installations

One Resident’s View “I have a pre-payment meter. Before the battery was installed I was using almost a pound a day on electricity. It’s been in for three days now and I’m still on the same pound. I can use the money I’m saving to pay for the gas.”

The future of Powervault

Current Projects Securing and commencing a paid-for trial with UK Power Networks, worth £270k. Trialing smart grid control product with four utilities including Tonik Energy and UK Power Networks. Launching ‘slimline’ product. Secured commercial deals with Nissan and Renault to allow us to buy second life and new batteries. Securing £640k of grant funding including second “flagship” trial of second life batteries (£380k) in conjunction with Solar Century and Marks & Spencer Energy.

Over the next year we will have the technology to create a 15% IRR for our customers The key features that will deliver this market beating ROI include: Recycled and lower cost batteries – reduce upfront cost by 30% Frequency Response control – increase revenue by up to £380pa A larger (3 kW) inverter, enabling the Frequency Response income stream that underpins the availability of third party finance for the mass roll out to homes Relationships with electricity suppliers to access new smart tariffs Powervault has built up considerable knowhow in its product and control system design which results from more than two years of field operation. It also has patents pending on “plug and play” features which can further simplify installation and reduce costs. TIMING FEATURES Now Solar PV arbitrage Time of use arbitrage Smart tariff control Emergency plug socket By 2018 Revenue from grid services Low cost / recycled batteries Larger inverter SmartStor optimization algorithm Future External case Smart appliance control Cost reductions

We are building on early adopter sales with a clear plan to go to mass market Powervault’s customer base will continue to evolve as electricity market developments enable new opportunities. 2014/15 2015/16 2016/17 2017/18 2018/19 2020 Commercial stages: Stage 1 - Sales to early adopters with solar PV systems Stage 2 - Volume roll out to all homes to benefit from ‘smart’ tariffs Stage 3 - Roll out to solar PV homes supported by asset finance Stage 4 - International expansion Cumulative units sold 144 538 2,576 9,303 33,575 Market penetration UK Solar1 0.0% 0.1% 0.2% 0.8% 2.7% Market penetration UK Total1 <0.1% Note (1): Based on homes with “solar PV”. Market penetration remains < 0.2% if smart meter and easily addressable international markets are taken into account

Thank You Tom Ross Business Development Associate M: 07773 556847 E: tom.ross@powervault.co.uk    Powervault Limited 29 Shand Street, London, SE1 2ES www.powervault.co.uk