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PowerPHASE [Shared]

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Ali Alatas

on 4 December 2015

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Transcript of PowerPHASE [Shared]

Who We Are
Founder & CEO

The World Needs More Power
Founder, President & CEO, after 15 years in advanced aircraft engine engineering at GE and Pratt & Whitney, was the co-founder, VP Engineering, and later, the CEO of Power Systems Manufacturing (“PSM”), a leading gas turbine after-market parts manufacturer. Under Bob’s technical and business leadership PSM became the world’s leading alternate source supplier of advanced components for the state-of-the-art F-class fleet of GE industrial gas turbines, and grew sales to more than $100 Million and employment to over 300. Bob stayed on as CEO of PSM after it was sold to Alstom in 2007 for over $242 million, and the company now builds 100% of the hot gas path replacement parts for the global fleet of General Electric 7EA, 7FA, 501F, and 6B turbines, among others. Bob’s depth of knowledge in turbine technology is further evidenced by the more than 25 gas turbine related patents he has authored, of the more than 100 credited to PSM. Bob earned a B.S. in Mechanical Engineering from Cleveland State University.
The World Needs More Cost Effective, Fuel Efficient Power for Electricity & Oil/Gas Pipelines, but existing solutions are costly, or damaging to the environment.

Pollutes too much; legislation leading to slowdown and shutdown

Fear of fallout makes it politically unfeasible

Growing but expensive; reduced incentives leading to slowdown

Natural Gas:
The best solution; reliable, cost effective, fast responding, clean
Turbophase Delivers More Power & Better Fuel Efficiency from Clean Burning, Cost Effective Natural Gas
The World Needs More Power
– Each “blue box” is 1 unit. The average sale consists of 5 units that add 25 MW to the power plant at a cost 60% below the cost of building a new plant.

12 Customer Orders = $100+M Order Volume for 2016 Gross Margins are Expand Over Time
How we make money:
Average Order
1 Order
5 Units
$10M Order
2016 Order Projections
12 Orders
63 Units
$101M Orders
Gross Margins
What We've Done
The Market
$54B/Year Market
$740B Annual Investment in Electric Power
$429B Annual Investment New & Existing Power Plants
$54B Annual Investment in Natural Gas-Fired Power Plants
Global Reach
Turbophase Beats the Competition
Levelized Cost of Energy (LCOE):
Objective value comparison for electric power generation methods
Key LCOE drivers:
Cost to build (lower is better)
Cost to operate (lower is better)
Run hours (more is better)
Turbophase @
Past Fundraising
Current Fundraising & Use of Proceeds
Raising $20M in Equity to Accelerate Commercialization with Strategic Concessions & Terms
“Get Metal in the Ground”
Initial gross margins caused by institutionalized risk aversion in the power industry. The “wait & see” mentality.
Current capital project will overcome risk aversion via discounted pricing and performance guarantees.
Full of Proceeds Chart
A Powerful Opportunity
The $800 Million Math
2017 Projected 44% Gross Margins & 34% Net
40 Units = 10 Sales = $81.2M Revenue = $27.6M EBITDA (Approximately 50% below 2017 Sales, EBITDA Projections)
PSM (Team’s last company in same industry)
Sold for 30x EBITDA
Same Valuation applied to Powerphase = $828M Exit
Invest $20M for 20% of the Company (NO PREMIUM to Last Round)
20M Investment Worth $200M+ 10x in less than 5 years = > 41%IRR
Exit Strategy
Likely exit will be to GE, Siemens, or Mitsubishi.
General Electric:
Initial contact with President of GE Power Generation Services, an $11B division of GE Power & Water
M&A team dispatched to Powerphase headquarters
Ongoing discussions.

Primary contact through Powerphase board member, Bob McGrath (former head of procurement at FPL)
Strong connection with the President of Siemens Power & Gas, as well as other levels.
Ongoing discussions.

MOU for 36-unit installation on 3 Mitsubishi power plants in Egypt.
Ongoing efforts through Mitsubishi in Japan.
Further relationship via former PSM VP Commercial Operations, who is now at a high-level with Mitsubishi in Orlando.
Ongoing discussions.
1001 N. US Hwy 1 Jupiter, FL 33477
Peter Perri, EVP, Powerphase
Who We Are
VP Sales
Peter started his career with Merrill Lynch where we was a top producer and Series 7 licensed. After Merrill Lynch, Peter was a pioneer in digital media and eCommerce, owning 2 companies that lead him to expertise in strategy, marketing, finance, and customer acquisition. Peter holds a BA in Economics from Davidson College.
Steve has more than 17 years experience in advanced engineering and turbine experience beginning as a flight test engineer for Pratt & Whitney, and then advancing to General Manager, Alstom Thermal Service Middle East Operations.
Steve holds a BS in Mechanical Engineering from Tulane University.
Jim has 20 years of finance and accounting experience with various companies including PSM where he was CFO for 8 years from startup through rapid growth. Jim guided the company through 2 acquisitions: Calpine ($86M) and Alstom ($242M). Jim began his career with Ernst & Young, where he obtained his CPA license. Jim holds a BA in accounting from Cleveland State University.
Who We Are
Who We Are
Bob McGrath was executive vice president of engineering, construction andcorporate services for FPL (NextEra Energy; NYSE: NEE). He was responsible for overseeing corporate-wide power plant engineering, construction activities and corporate services. Prior to that he was chief financial officer for FPL Energy and ESI Energy, the predecessor of NextEra Energy Resources. In his capacity as CFO, he was instrumental in restructuring the core business and setting a new strategic direction for the company. Before becoming associated with NextEra Energy, Bob served in various roles including vice president/treasurer of Pantry Pride, Inc./Revlon, Inc. Bob graduated Towson University (Summa Cum Laude) with a B. S. / Accounting & Passed the CPA exam in 1978.
Pete Sobieski has more than twenty-three years of experience in the operation and maintenance of industrial gas turbines in both combined cycle and simple cycle configurations. He began as a General Electric field engineer and became Vice President of Calpine’s Turbine Maintenance Group, where he was responsible for a fleet of almost 200 machines. Pete is currently the Chief Operating Officer of TRS Global, a gas turbine parts repair facility that was acquired by private equity in 2014. Pete graduated from Michigan Technological University with a BSME degree.
Patent Counsel, was previously the General Counsel of Power Systems Manufacturing. At PSM, he was among other matters responsible for contracts and intellectual property protection and litigation. He was formerly an analytical engineer at Pratt & Whitney Aircraft, and he has worked in the U.S. Patent & Trademark Office in Washington, D.C. He holds a Bachelor of Science in mechanical engineering from the University of Illinois, a Masters of Business Administration from the University of Florida, and a Juris Doctor degree from the Florida State University College of Law. Mr. Hayes is a member of the Florida Bar and is registered to practice before the United States Patent and Trademark Office.
Pilot Projects

Research & Initial IP
5 Patent Filings
Concept Announcement

Product Design & Construction
1st Order with Factory
Physical Unit Showcased at Trade Event

Commercial Demonstration
Commercial Installation at Power Plant near Chicago
+ 20% Output Demonstrated on GE 6B Gas Turbines
Facility Serves as Product Showcase
Customer Evaluation Begins

International Expansion
Commercial Installation at Saudi Electricity Company
+ 20% Output Demonstrated on GE 7FA Gas Turbines
5% Fuel Efficiency Demonstrated
Rapid Pipeline Acceleration (200+ Opportunities Engaged)

Full Commercialization
Commercial Installation at Saudi Electricity Company
+ 20% Output Demonstrated on GE 7FA Gas Turbines
5% Fuel Efficiency Demonstrated
Rapid Pipeline Acceleration (200+ Opportunities Engaged)
Full transcript