CORPORATE PRESENTATION
EnergyVest, Eilat-Eilot, November 2016
SOLAROUND LTD. PROPRIETARY & CONFIDENTIAL
SolAround - Tomorrow's Bifacial PV Cell Technology
From the International Space
Station (ISS, 1974 - 2000)
To Protecting the environment
(2009-2016)
SOLAROUND LTD. PROPRIETARY & CONFIDENTIAL
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MARKET & INDUSTRY CHALLENGE
 Global PV Market - $100B (TAM >$10B)
 25% CAGR, $138B by 2020
 Market Pressures:
o
o
Ongoing reduction of Cost of Energy (LCOE)
Storage, Grid Balance, Geographic Expansion
 Industry Status:
o
o
o
o
o
o
PV high-power (bifacial) systems shall dominate
Standard p-Si modules are still 80% of market.
n-PERT / p-PERC - found expensive, limited
Turn back to p-Si, and to bifacial cells, however:
Technology barriers towards high-eff. low-cost p-Si cells
SolAround broke these barriers !
SOLAROUND LTD. PROPRIETARY & CONFIDENTIAL
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THE SOLAROUND CELL AND BREAKTHROUGH
Conventional p-type mono-facial cell
Ag-finger
SolAround PERT p-type bifacial cell
Ag-finger
SiNx ARC
Phosphorus doped emitter
Phosphorus doped emitter
p-type Cz-Si
p-type Cz-Si
Al-BSF
Al-contact
Boron-BSF
AgAl-pad
Aluminum BSF (Back Surface Field)
• Opaque back side, no bifaciality
• Limits increase of front efficiency
SiNx ARC
Ag-finger
SiNx ARC
Boron BSF
 Improved front efficiency (superior BSF, higher B
solubility)
 Improved optical properties
 Open back side, allows bifaciality
 However boron acts as a “lifetime killer”
SolAround’s technology and multi-step process
enables
‘Controllable Boron Doping’, retaining Bulk Lifetime and Effficiency
SOLAROUND LTD. PROPRIETARY & CONFIDENTIAL
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BIFACIAL SYSTEMS (ROOFTOP & GROUND MOUNTED INSTALLATIONS)
SOLAROUND LTD. PROPRIETARY & CONFIDENTIAL
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OTHER TYPICAL APPLICATIONS OF BIFACIAL MODULES
BIPV
Sound Barriers / Fences
Car Ports
Green Houses
SOLAROUND LTD. PROPRIETARY & CONFIDENTIAL
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SOLAROUND
BIFACIALBifacial
SOLUTION
Tomorrow’sP-PERT
Mainstream
PV Cell Technology
High
efficiency
front side
+
+20% to +40%
energy from
rear-side
=
23% to 28%
total system
efficiency
TODAY !
&
15% to 20%
energy cost
(LCOE) reduction
>21%
Front-side
efficiency
>19%
Rear-side
efficiency
Substantial
reflected &
scattered
energy
Ground reflection (Albedo)
VALUE PROPOSITION
SolAround offers p-Si cell
producers (80% of market):
 A fast, simple line retrofit, with
 A low CAPEX investment
 Front efficiency of 21% vs. 18.5%
 Bifacial efficiency of 23% to 28%
 15% to 20% LCOE reduction
 Efficiency growth potential
 The best
alternative
technology
SolAround Advantages Over
New niche solutions:
 Efficiency growth potential (>24%)
 Stability, longer lifetime
 Higher BF (0.9 vs. 0.65-0.7)
 Lower cell COO
 Lower retrofit CAPEX
 15% lower (Bifacial) LCOE
SOLAROUND LTD. PROPRIETARY & CONFIDENTIAL
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MANAGEMENT TEAM
Science & Technology
Senior Management
Avishai Drori – CEO
• 35 years management experience
across tech sectors, including Optid,
Scientific Wizard and Inpris
• Ms.C in Applied Physics – Hebrew
University
Dr.Yossi Kofman - Co-Founder
• Succesful serial entrepreneur and
experienced C-level executive, including
Modem-Art ($145m exit) and Siklu.
• D.Sc. in Electrical Engineering - Technion
Prof. Naftali Eisenberg: - CTO
• 30+ years solar and optics research – chief scientist of solar
energy pioneer Luz, installed 300MWp solar thermal systems
• Head of JCT Center for PV Solar and non-conventional optics
• Ph.D in Physics - Cl. Bernar University (Lyon, France)
Dr. Lev Kreinin - Chief Scientist
• 40+ years Bifacial R&D – co-invented 1st. Bifacial cells
• Associate Professor at Jerusalem College of Technology
• Ph.D in Energy Conversion – Scientific Research Insitute
(Moscow)
Yigal Eisenberg – Chief Researcher
• 7+ years experience in PV measurements and lab
infrastructures
• Researcher in JCT‘s PV Solar lab
• Ph.D candidate in Physics – Ben Gurion University
SOLAROUND LTD. PROPRIETARY & CONFIDENTIAL
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R&D CENTER
At the Photovoltaic Laboratory, Jerusalem College of Technology (JCT)
SOLAROUND LTD. PROPRIETARY & CONFIDENTIAL
TRACK RECORD IN CELL DEVELOPMENT AND PRODUCTION
bSolar’s 30MWP/Yr Production Line, Heilbronn, Germany
 30 MWp/yr industrial production line
 Purchased in April 2011
 9.2 MWp of high-efficiency, mono facial cells
produced and sold during 2011-12
 The line has been retrofitted to produce bSolar’s
bifacial cells
 The line was closed on Jan-2013
SOLAROUND LTD. PROPRIETARY & CONFIDENTIAL
TRACK RECORD IN MODULE DEVELOPMENT AND MARKETING
Bifacial modules based on bSolar’s cells, Intersolar 2012, Germany
Aleo Solar (Bosch)
SI Module and Clickcon
(car port application)
SOLAROUND LTD. PROPRIETARY & CONFIDENTIAL
Solar-Fabrik
BUSINESS MODEL
Licensing
o Process licensing to PV manufacturers
o Key markets - Asia, India, US and Europe
o Revenue Model
• Cell technology access & support ($1.5m per 100MWp)
• Maintenance support
• Process improvement fees
o Initial Potential Clients
• 2017 – Europe - 30MWp pilot line
• 2018 – Additional clients (100-400MWp)
• Similar new technologies were recently licensed
A money machine, that
helps the environment !
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STATUS & STRATEGIC PARTNERSHIP
 Roadmap
o Cell process feasibility, sampling for clients
Q1/2017
o Cell optimized process, ready for manufacturing thru licensing
Q2/2018
 Partners / Strategic clients
o PV R&D Centers
o Solar-Era-Net Consortium members (Europe)
o Pilot candidates in France, Germany, India and in Asia
 Funding
o Previous investments
o Seeking a private equity investment of -
$1.45m by Terra Venture Partners (with OCS)
$2-3m for its R&D pilot plan & market penetration
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Why should you invest in SolAround , and
Why we should win EnergyVest:
 The solar revolution is irreversible
 We are a GAME CHANGER there.
 Broke an industry technology barrier
 We reduce LCOE to unprecedented levels,
extending PV Geography and helping the environment
 We work ‘fablessly’ with ~5% of the R&D budget required in industry
 Fully industrial process and samples from day one
 High revenues and profit margins, at low risk , are expected
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THANK YOU
Headquarters:
Lev Academic Center,
21 Havaad Haleumi St.,
Jerusalem 9372115 Israel
Avishai Drori, CEO
[email protected]
Mobile: +972 54 5900053
Prof. Naftali Eisenberg, CTO
[email protected]
Mobile: +972 54 7343468
SOLAROUND LTD. PROPRIETARY & CONFIDENTIAL