Dr Daniel Buhagiar Founding Partner My name is Daniel and I am a co-founder of FLASC Imagine having to live your life without a bank account or a wallet, so whenever you earn you some money you have spend it all immediately, since you have no have no way of storing it for later Can you imagine how wasteful this would be?

Supply-Demand Mismatch Renewable energy systems are facing this very challenge Because most of the time, their supply and our demand do not match So all the clean energy produced when we can’t use it, has to be wasted.

Current Solution Big Batteries The energy sector, including Tesla, Equinor and General Electric are actively looking for solutions. But most propose huge li-ion battery banks, such as this one, which might be OK for onshore systems…but for offshore renewables, far out at sea, well we have a better solution

CHEAPER SAFER CLEANER Using a combination of compressed air and pressurised water we came up with an energy storage system that can beat batteries at their own game.   Our system, FLASC, is cheaper, safer and cleaner So at full-scale, our technology can interface with offshore wind turbines to add megawatt-hours of storage. It also works great with oil & gas infrastructure.

Floating Offshore Wind Market Trends 2018 some pilot installations €20bn 2030 Floating Offshore Wind 2030 €30bn Stationary Energy Storage 2018 €0.5bn The market for energy storage is growing fast, most of it concentrated in regions with a high percentage of renewables, including large-scale offshore systems.  

Patent Europe United States China Japan We’re well aware of this and have taken steps to protect the FLASC IP, by extending our patent throughout Europe, the US, China and Japan.

€400k - €1.2million Potential Customers License Fee (KPMG) Oil & Gas Companies Offshore Wind Developers Grid Operators License Fee (KPMG) €400k - €1.2million per device So how do we make money? We intend to license our patented technology to manufacturers of offshore systems.   Potential customers include some large industry players, with whom we’ve already started collaborating.

Q1 2019 +3 years R&D International Patents 3rd Party Statement of Feasibility These are really exciting times for us, not only did we complete a full year of testing on our prototype …but we recently obtained a statement of technical feasibility from the largest classification body in the world. 1st Proof-of-Concept Prototype

€500,000 Seed Funding …what next? I used to work in the battery industry, and I quit my job to co-found FLASC with my PhD professor. Together with our team, we’ve already raised over €300,000 in non-equity funding.   We are now looking for a €500,000 seed investment, to continue growing our company, and establish strategic partners for a large-scale demonstrator. Thank you.

Back-Up Slides

Key Technical Advantages Offshore Wind + FLASC [6MW + 8MWhr] Key Technical Advantages Integrated Pneumatic Chambers Hydro-Pneumatic Accumulator Umbilical Connection Pressure response independent of water depth. Ideal for offshore wind installations (30-250m). Reduces sea-bottom infrastructure by 40% Sensitive equipment located above sea-surface. Sub-components can be partially discharged and isolated for maintenance. Throughout its life-cycle and beyond end-of-life, no part of FLASC constitutes hazardous, flammable or dangerous materials.

Economic Value | Mitigating “Self-Cannibalisation” Show price gap Low Wind Production €0.055/kWhr High Wind Production €0.015/kWhr Price Delta: €0.04/kWhr (70% drop)

Potential for 25% cost reduction Economic Feasibility | Preliminary IRRs Potential for 25% cost reduction FLASC CAPEX €690/kWhr IRR versus CAPEX for different increments in the value of Wind Turbine 6MW / Capacity Factor 50% Storage: 8.1MWhr / Power rating 2 MW Making Wind Energy Schedulable: IRR vs CAPEX at different increments in the value of wind Wind Turbine: 6MW / Capacity Factor: 50% | Storage System: 8.1MWhr / Power rating: 2MW | OPEX: €16.9/MWhr/year

Case Study | Reducing Carbon Footprint of LNG Conventional FLNG Wind-Powered FLNG Wind-Powered FLNG + FLASC FLASC considers that the seawater intake temperature changes Case 0 and FLASC consider fixed speed GT (400kgCO2/MWhr) Baseline variable speed GT (500kgCO2/MWhr)