NEP SOLAR AG

Antoine Millioud – Chairman of the Board Viara Nedeva – Member of the Board (rep. New Energies Invest)

Technoparkstrasse 1 – 8005 Zürich – Switzerland

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Steam generation for milk processing plant St. Moritz area, Switzerland

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70 -120°C

Tem

per

atu

re • Industrial Process Heat

• Solar Cooling • Seawater Desalination • Distributed Power

100 -300°C NEP Solar

PolyTrough

• DHW, Space heating • Solar Cooling (single stage) • Low Temp. Process Heat VacuumTube,

CPC Collectors

• Domestic Hot Water • Space Heating

40 - 60°C Flat Plate Collectors

Utility scale power generation

300 - 450°C

Large Troughs and Fresnel

Few players, low familiarity and level of adoption

<10kW 0.1 – 10 MW 20 – 500 MW 10-100kW

NEP Solar Application Segment – Medium Temperature, Medium Size

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Solar Thermal is the key renewable solution for

Process Heat

Solar Cooling reduces peak power

consumption

Power Generation

Industry

Buildings

Transport

Solar Thermal

Geothermal

Energy-efficiency

Solar Process Heat (Annual industrial heat market in Europe of 150Bln Euro)

Energy-efficiency

Biomass CHP

Wind, PV, Biomass

Wave and Tidal

Solar Cooling

Solar Thermal Power Plants (CSP)

Electric Vehicles

Biofuels

Fuel Cell

Public Transport

20% of annual global fossil fuel consumption is for industrial process heat

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NEP Solar at a glance • Technology development commenced 2005

• Founded in Australia 2008. Moved HQ and commercial unit to Zurich in 2011

• Market development:

• 2009: first revenues (Australia) and Intersolar award (Europe)

• 2010-11: five commercial installations in FR, ES, CH, and AUS

• 2012: confirmed five commercial installations in FR, CH, and AUS; technology de-risked

Solar cooling client site, Australia R&D Partners

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Viable market without subsidies in high DNI (solar radiation) geographies

Process heat costs conventional (oil) vs solar (example Amman, Jordan)

€/kWh

Year

1

2

1

2

Marginal cost heating oil derived process heat Price solar process heat 5 year amortisation Price solar process heat 15 year amortisation

Reduce total system costs significantly – initiative ongoing

Contracting services: sell heat not equipment – cooperate ESCOs and energy savings funds

-

0.02

0.04

0.06

0.08

0.10

0.12

0.14

0.16

2011 2013 2015 2017 2019 2021 2023 2025

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Designed to respond to key success factors experienced in the emerging market

Outlook: multiple medium sized projects delivered to cost-focused industrial clients all over the world

hence

• Centralised production & quality assurance

• Low shipping volume

• Very easy installation

• Low maintenance costs

NEP Solar Approach

• Light, self-carrying, stackable and precise reflector panels

• Central panel manufacture and QA, drive unit pre-assembled

• Quick and easy installation without specialized tooling

230m2 in 20ft container

Installed in 1 week

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Product family and cost evolution

PolyTrough 1800 • Saignelégier 2011/2012 • Fribourg 2011/12

PolyTrough 1200B • Bever 2011 • Cetiex Seville 2011

PolyTrough 1200 • PSA Almería 2010 • GPT Newcastle 2010/11 • Sotraex Avignon 2010/11

Cost saving 5%

Cost saving 20%

Further cost saving of 40% through design optimisation, better sourcing and volume

2013

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Key objectives and use of funds 2012-2014

• Win and realize large-scale sales contracts:

Strengthen sales & marketing team

Establish after sales service

• Accelerate market uptake through promoting contracting approach: sale of heat vs sale of equipment

• Break even in 2014

• Complete on-going strategic initiatives:

Design and supply chain optimization resulting in 40% cost reduction

Collector certification

Technology: direct steam generation project, evacuated absorber

MEUR 2.5 Capital Requirement

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Financials

2008 - 2010 2011 2012 2013 2014 2015 2016 2017

m2 sold 500 800 3'000 order based

Revenue (k CHF)

600 400 2‘300 actual billing based

Gross Margin

23%

Operating Expenses

220% 44%

Operating Margin

EBIT (kCHF) -2'120 -1‘270 -580

CHF 1’300k of the forecasted CHF 2’300k revenues for 2012 are already booked

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Backup

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• The market for solar process heat in Europe is driven by government subsidies and rising fuel costs.

• The National Action Plans of the member states define targets for installed solar thermal capacity per capita in 2020, whereby a proportion of this capacity will be in mid-size mid-temperature installations.

• Subsidies targeting mid-size installations are in place in France , Germany and Austria and being introduced in Italy and Spain.

Solar Thermal Installations in EU

All Solar Thermal Solar Process Heat ( about 4% of industrial demand)

Current capacity 2010 (GW)

2020 target capacity (GW)

Potential Capacity (GW)

Potential collector area (Mio m2)

Potential revenues

France 1.1 15.0 16 24 CHF 11 B

Italy 1.9 25.5 10 15 CHF 7 B

Spain 1.5 10.5 6 9 CHF 4 B

Portugal 0.5 2.8 1.3 2 CHF 1 B

Sources: 2011 analysis published by ESTIF and 2008 analysis published by IEA task force 33

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Sales Process with System Integrators

NEP Solar

Integrator / Local Partner

End Client

• Supports local partner during sales • Supplies equipment • Supervises installation and commissioning

• Sources project and has end client contact • Engineers integration solution • In charge of implementation

• Procures solar process heat or solar cooling • Readies site and supports local engineering

contractor during execution

3rd Party Logistics

Partially outsourced manufacturing

In-house product development &

procurement

• NEP Solar supplies complete NEP Solar branded solar collector fields as a subcontractor to general contractors

• NEP Solar’s in-house system engineering capabilities support the client during project development

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Clients & Partners

Energy Systems Integrators

ESCOs Engineering Consultants

Multinational Industrial Clients

• End-client access

• Provide turn-key heating and cooling solutions

• May have own equipment like steam boilers

• End-client access

• Build, own and operate process heat or cooling equipment

• Longer investment pay-back period

• similar energy savings funds

• Typically each industry has 2-3 main design consultants

• Preferential access to end-client

• Provide leads to new opportunities

• Interest in lowering production costs

• Typically approach NEP directly or via a scientific advisor

• Often with multiple international locations

• M+W Zander • Acciona • MEI

• Dalkia / Veolia • IWB • ewz

• Tecsol • Arup • BMG

• Novartis • Nestlé • Emmi

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Thermal output depends on direct solar radiation (DNI)

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Committed Projects for 2012

Projekt Fläche/Leistung Anwendung Innovation F&E Partner

Switzerland 1

600m2 / 300kW th 130°C

Prozesswärme für Käserei

Neuer PolyTrough1800 Kollektor

Leistungsmessungen durch SPF Rapperswil

Switzerland 2 580m2 / 280kW th 150°C

Prozesswärme für Kaffeerahmproduktion

Montage auf geneigter Fläche, verlängertes Kollektormodell

Leistungsmessungen durch SPF Rapperswil

Switzerland 3 120m2 / 60kW th Direktverdampfung und Einspeisung Mitteldrucknetz KVA

Direktdampferzeugung im Kollektorfeld

KTI Projekt mit SPF Rapperswil, DLR, IWB

South France 120m2 / 60kW th Schlammtrocknung Erstes Projekt in Frankreich, neuer Anwendungsbereich

Sotraex, Bertin Technologies

Gold Coast, Australia

200m2 / 100 kW th Warmwasser, Solare Kühlung

In 2. Etappe Umrüstung auf kombinierten PV- und thermischen Receiver

Australian National University, CSIRO

NE Coast, Australia

280m2 / 150kW th Stromerzeugung + Schwimmbadheizung

Hochtemperatur-Receiver, ORC, Direktverdampfung

Australian Solar Institute

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2010/11 - 230kW Solar Cooling, Shopping Center Newcastle, Australia

Project Data

Aperture: 345m2

Peak Thermal Power: 200kW Outlet Temperature: 180°C HTF: Water Application/End Use: Air conditioning Schedule Order Received: 31 August 2009 Ex Works: Staged till July 2010 Assembly Completed: 15 October 2010 Commissioning : April 2011 Hand-over to client: October 2011 Technical PolyTrough 1200

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2011 - Process Steam for Diary Plant, Swiss Alps

Project Data

Aperture: 115m2

Peak Thermal Power: 70kW Outlet Temperature: 140-180°C HTF: Thermal oil Application/End Use: Process Steam Schedule Order Received: November 2010 Ex Works: February 2011 Installed: June 2011 Commissioning : Oct. 2011 Technical PolyTrough 1200 PTC2.0 New non-counterweight design New tracking control system Harsh environment (1700 m altitude)

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Thank you for the attention!