Two Nordic N1000 1 MW Wind Turbines
Union City, Indiana
Company Presentation
Utility scale
Community focus
Page 1
1
Our Vision
Reliable, affordable, utility-scale wind turbines
by harnessing the power of unique
load shedding, weight saving
two bladed turbine
technology...
…in order to generate the
gy
lowest cost of clean energy
Page 2
Company Value Proposition
Experienced Team
o
Industry relevant experience with strong leadership track records
Differentiated Wind Turbine Technology Platform
o
o
Only 2 bladed MW class design with proven operating history
Proprietary load shedding technology enables lighter
lighter, less expensive
expensive, more
reliable designs
Leader in Attractive Community Wind Market
o
o
Manufacturing of the company’s N1000 turbines underway
19 N1000 turbines sold, plus strong pipeline for 2010-2011
Strong Operational and Financial Footing
o
o
o
$23M Order-book plus $16M awarded
D
Developing
l i reliable
li bl long
l
t
term
supply
l chain
h i arrangements
t
$16M US DoE loan guarantee commitment pending this financing
Disruptive Long Term Roadmap
o
Page 3
Plan to develop revolutionary 2.5+
2 5+ MW N2000 design for utility market
N1000 – Union City, Indiana
Construction and Installation
Return to simple… lighter, affordable, reliable and ease of installation
Product Value Proposition:





Blades fewer and lighter
Nacelle lighter
Tower lighter
F
Foundation
d ti smaller
ll
Shipping costs lower
Provides Communityy Wind Customers with:




Lower equipment cost
Lower installation cost
Lower operating cost
Higher reliability
10 - 25%
Lower
Upfront
Costs
+
10 - 25%
Lower
Annual
Costs
=
Larger IPP Project Economics in Community Scale Projects
Page 4
10 - 15%
Lower
Cost of
Energy
Management Team
Highly experienced with demonstrated performance in energy sector
Thomas Carbone, CEO
Former CEO of Vestas Americas and President of Wartsila North America. 26 years
of OEM power generation equipment sales,
sales engineering,
engineering manufacturing and service.
service
Drove market penetration with new product introductions; gained new customers by
creating focused quality and commitment; increased annual revenues 400% to in
excess of US$ 1 billion from US and Canadian wind turbine contracts.
Prakash Ramachandran, CFO
20+ years in various senior financial roles in the U.S. and Hong Kong. Former CFO
of Novariant, a venture funded US$60 million GPS company in Silicon Valley. Former
CFO of a $300 million business group in Hong Kong. Sloan fellow from Stanford.
Jeffrey Brown, COO
Former top operations executive at GE Energy,
Energy including full responsibility for the
Frame 9H program. 30 years experience managing manufacturing and engineering
operations. Six sigma black belt.
Dr. Charles Gamble, CTO
15+ years experience in the wind energy industry, including five years at Garrad
H
Hassan
& Partners.
P t
Pi
Pioneered
d early
l wind
i d turbine
t bi design
d i workk att WEG.
WEG
Dennis Schultz, Dir. of Quality
20 years experience in quality management in wind power and other industries.
Amanda Maghari, Dir. of HR
20 years of leading human resource administration and development for
globally acting engineering and manufacturing companies.
Page 5
Non-Executive Directors and Investors
Professionals with renewable energy sector leadership
Patricia Bellinger
Former CEO of BP’s Leadership Development & Diversity Group
Chairman
Jim Kim
Partner - Khosla Ventures , former Senior Partner at CMEA Capital and
GE Energy Financial Services.
Dr. James Lyons
Former Director of Research GE Energy; former CTO of GE Wind;
currently CTO of Novus Energy Partners
Dr. Hansjörg Müller
Former COO of Nordex Wind Energy
Tony Amor
Senior Partner – Pulsar Energy Capital
Dr. James Walker
Co-Founder of Nordic; 20+ years experience in the wind industry; 2009
President of American Wind Energy Association; Vice Chairman & former
CEO of enXco (EDFEN)
Page 6
Idaho Manufacturing Facility
Local support, skilled labor force, excellent logistics
 Nordic has leased 43,000 sq. ft. from Peterson Inc. (a large steel
producer)
 Capacity to exceed 150MW per annum by 2010
 Good site infrastructure with multiple cranes and internal rail system
Source: Nordic
Page 7
Idaho Manufacturing Facility
Local support, skilled labor force, excellent logistics
 Skilled, lower cost, available labor pool
 Excellent
E
ll t llogistics
i ti – interstates
i t t t and
d railil
 Proximity to universities/colleges and good
quality of life
 Good site infrastructure with multiple cranes and
internal rail system
Source: Nordic
Page 8
Turbine Technology
Three blades or two blades – there is more to it
The Danish Topology
Rigid
Complex
Massive
Page 9
The Nordic Design
Flexible
Simpler
Lighter
Differentiated Technology
Proprietary Load Shedding Technology Makes This Possible
 Patented method for eliminating
h
harmonic
i lloads
d
 Teeter avoids passing most
bending loads to the gearbox
•
Control and design of the
teeter restraint system vital
•
Use of smart blades, analysis,
controls, feedback is key
 B
Based
d on acquired
i dS
Swedish
di h
technology that took over $75M of
R&D to develop
 Game-changing technology has a
strong
t
future
f t
on multi-MW
lti MW wind
i d
turbines and offshore installations
View of nacelle internals with proprietary
dampened teeter-hub mechanism
B passing
By
i ffewer problematic
bl
ti forces
f
into
i t the
th drive-train
d i t i & structural
t
t
l
components, Nordic’s teeter enables lighter, more reliable turbine designs
Page 10
Differentiated Technology
Two Blades plus Dampened Teeter – Lower loads, less weight, less cost
Variable Pitch
Pitch,
Rigidly Mounted Hub,
Separate Shaft &
Bearings,
Bed Frame
Fixed Pitch-Stall
Pitch Stall Regulated
Regulated,
Dampened Teeter Hub,
Integrated Gearbox
And Main Bearing,
Integral G/B-Generator
F
Frame
Structure
St
t
Variable Speed,
Heavy Tower
Fixed Speed,
Anti-Vibration
Mount System,
Softer Tower
Lighter weight, affordable, reliable & simple – Meets all requirements of IEC IIIb
Page 11
Differentiated Technology
Lower load + longer life + higher reliability = lower Cost of Energy
Turbulence
All loads down on
Gearbox shaft
C li lloads
Cyclic
d d
down on
Main frame
Yaw Bearing
Tower top
Blades
Tower Shadow
Page 12
12
1 MW Turbine Specifications
the Community Wind Turbine
N1000
E l ti
Evolution
Wind Regime:
IEC Class IIIb - Moderate
Market Applications:
Community Wind
Distributed Energy
gy
Rating:
1,000 kW
Rotor:
59 m
Tip Speed and Ratio:
Sound:
70 m/s @ ~ 5x
104.5 dB
Mechanical:
Gear – Shaft –Generator
Fixed Pitch, Stall Regulated
Constant Speed
Passive Teeter, Active Yaw
Electrical:
Induction Generator
1500 -1800 RPM
p
Slip
~ 10% LCoE Advantage
Page 13
Operations & Maintenance
Choices - tailored service options to suit O&M strategies
Project
j
Developers
p
& Owners
Parts & Labor Warranty
Perf. Guarantees
Maintenance/Service
Full Care
Parts Only Warranty
Perf. Guarantees
Maintenance/Service
Basic Care
Maintenance/Service
Self Serve
Selectable
Service Options
Pay as you go
Page 24
Local
O&
O&M
Contractor
Support
Total Care
Turbine
Supplier
Service
Operations
p
National
O&M
Contractor
Support
Support
From
Other
Sites
Operations & Maintenance
High reliability & low maintenance – long service life
Page 25
8 12
8-12
years
130 000
130,000
hours
4 Nordic N1000
turbines have
been running
reliably in
Sweden
Trouble-free
operation
97.7%
availability
0
(zero)
Historic
performance
Drive
train
failures