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Jeannine SargentCEO Oerlikon Solar
Piper Jaffray Clean Technology and Renewables Conference February 20, 2008 New York, NY
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 2
Disclaimer
This presentation is based on information currently available to management. The forward-looking statements contained herein could be substantially impacted by risks and influences that are not foreseeable at present, so that actual results may vary materially from those anticipated, expected or projected.
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 3
Oerlikon locations
Oerlikon At a Glance
19,750 Employees worldwide – and growing- 2500 Global Support- 1500 Scientist and Engineers
35 Countries- 170 Global locations
>250 Million CHF R&D investment in 2007 - 6700 Living patents
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 4
Oerlikon group - leading platform for key business levers
Innovation + Cross Segment R&D
Close to core and beyondClose to core and beyond
Operational Excellence
Customer focus and competitivenessCustomer focus and competitiveness
Regional Presence Our Employees
Training and development
Training and development
1 2
3 4
Global competence with customer proximity
Global competence with customer proximity
Compliance ControlledProcesses
ContinuousImprovement
OperationalExcellence
Integrated Supply Chain& Lean Manufacturing
Safety &Certifications
Business Process Management
Quality Circles
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 5
Key Member of Oerlikon Group
Oerlikon Coating
Oerlikon Vacuum
Oerlikon Drive Systems
Oerlikon Components
Oerlikon Textile
Oerlikon Solar
Oerlikon Solar
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 6
Oerlikon Solar Footprint
North America
•Sales•Customer Support•Operations est. 2009
Asia
• Sales• Operations• Pilot Line• Technology Center• Customer Support • & Training
Europe
• Solar HQ• Operations• Pilot Line• Advanced R&D• Product Development • Customer Support & Training
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 7
Solutions for a Solar Powered World
Market Opportunity
Achieving grid parity
Oerlikon Solutions
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 8
Global Energy Demand
47.5%
23.2%
18.9%
7.8% 2.6%
Coal Gas Hydro Oil Other
Total Electricity Production Mix
Over 2/3rds of electricity generated today is from fossil
fuels todayRestRest
Russia
RussiaOther Europe
Other Europe
Middle East
Middle East
China
China
Japan
Japan
NW Europe
NW Europe
US and Canada
US and Canada
0
100
200
300
400
500
600
700
2003 2020
year
QB
TU*
Global Energy Demand
Source: Credit Suisse and McKinsle & Co.*Quadrillion British Thermal Units **for 2005
China and US/Canadahave the greatestgrowth in demand
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 9
Drivers for New Energy Sources
Increased Energy Demand
Rising Costs
Diminishing Fossil Fuel Resources
Environmental Concern and Regulations
National Security
Renewable Primary Energy Supply
0
50
100
150
200
250
2000A 2010E 2020E 2030E 2040E
year
exej
oule
CAGRTotal Market 78%
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 10
SunGeothermalWind Tides and Ocean CurrentsHydroelectric
120,000.0 TW12.0 TW3.0 TW2.0 TW
.5 TW
Renewable Energy Options
Solar has greatest potential to meet world’s growing electricity needs compared to other renewable energy sources
Source: Engineering and Science No. 2 2007
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 11
Solar Market Segments and Applications
Residential, Commercial, UtilityGrid Connected
Recreational, Automotive, Consumer, Novelty, etc
Consumer Power/ Indoor
Communications, Signals, Security, Water, Power, Outdoor Lighting
Remote Industrial/ Habitation
Sample ApplicationsSegment
Key PV industry drivers
•Grid connected systems are the engine of the industry, with highest year-on-year growth approaching 50% since 2000
•Large scale ground ground-based GW system need to be established
Grid-Connected Applications are >85% of the PV market
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 12
Solutions for a Solar Powered World
Market Opportunity
Achieving grid parity
Oerlikon Solutions
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 13
Achieving Grid Parity Lowering the Cost per Watt
$Wp
=Total Cost
Throughput x Power
Turnkey AdvancedManufacturing Lines
Micromorph High Efficiency
Tandem Solar Cells
OerlikonAdvantage
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 14
*~6kW/m2 per day solar irradiance assumedSource: Oerlikon analyst reports
0.0
0.1
0.2
0.3
2006 2011 2016 2021
Cost of PV electricity generation Spain (€/kWh)
Grid price increasing by 2-3.5% p.a.
PV generation cost downside
PV generation cost upside
Grid Parity for PV in California and Spain ~2011-2015
0.0
0.1
0.2
0.3
2006 2011 2016 2021
Cost of PV electricity generation California ($/kWh)
Grid price increasing by 2-.5% p.a.
PV generation cost downside
PV generation cost upside
Cost of PV electricity generation California ($/kWh)
Cost of PV elec. generation Spain ($/kWh)
Forecast for global Grid Parity is 2011 to 2014
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 15
Cost of Ownership Development to Grid Parity
Thin Film Si Roadmap
Currentsmallfabs
Equipmentcost
decrease
Materialcost
decrease
Othercost
decrease
Tacttime
decrease
Cellefficiencyincrease
Economiesof scale
2010largefabs
2007for 20 MWp fabs < 1.5 $/Wp (<1.12€*/Wp)
2010for GWp fabs < 0.7 $/Wp (<0.52€*/Wp)
0
20
40
60
80
100%
(Calculated with an exchange rate of €1.00 =$1.34)
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 16
Achieving Grid Parity
1.5
1.0
0.5
Cost of ownership
Grid Parity
2010200920082006 2007
$/Wp
201220112007 2008 2009 2010
2012
2.00
CapEx per Watt
3.00
4.00
Module efficiency
10%
9%
8%
7%
2010200920082006 2007
Amorph
MicromorphTandem
NextGenerationThin-Film
2011 2012
11%
13%
12%
Fab nominal capacity
1
0.3
0.12
0.08
0.04
GW/p
2006 2007 2008 2009 2010 2011
capa
city
2012
$/W
3.50
2.50
1.50
GigaCampus
(Calculated with an exchange rate of €1.00 =$1.34)
MicromorphTandem
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 17
Solutions for a Solar Powered World
Market Opportunity
Achieving grid parity
Oerlikon Solutions
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 18
2 Primary Production Technologies for Solar Cells
Substrate Cell IssuesTechnology
CrystallineSilicon
Thin Films
CostSilicon Supply
Large Scale Mfg.Efficiency
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 19
Thin Film Solar Cell Basics
Manufacturing Order
Thin Film Solar Cell Structure
Thin Film Solar Panels
GlassLamination
Back ContactPV Material
Front ContactGlass
Thin Films
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 20
Laser ScribersDefine Cells
Key process elements needed for scalable Thin Film PV Manufacturing
LPCVDDeposit Contacts
PECVDDeposit PV Material
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 21
Thin Film is Fastest Growing PV Technology
Installed Solar Cell Maufacturing Capacity
0
50
100
150
200
250
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
GW
p
Crystalline Silicon Thin Film
Source: Commerzbank and Oerlikon estimates
2006-2015 CAGRThin Film 74.8%C-Si 49.4%Total Market 54.0%
Thin Film Drivers
•Cost advantage: Thin Film reduces the amount of light absorbing material, leading to a reduction of CoO while technology increases efficiency
•Shorter energy payback period:Production of thin film modules is less energy intensive
•Temperature coefficient: The performance of modules remain more stable with increasing temperature
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 22
Our Mission
To be the leading supplier of product and fabsolutions for the PV manufacturing industry
- Equipment and Processes- Building and Infrastructure- Guaranteed Performance
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 23
Micromorph Process Technology– up to 50% more Efficiency
The principle of light trappingto deliver high performance
TCO Best Commercial TCO
Oerlikon TCO
a-Si/ µ-Si
a-Si:H
μc-Si:H
Amorph
MicromorphTandem
Visible Near IR
•Integral to Micromorph process-High transmission in visible and near IR light
spectrums
•The goal is to optimize the hazeto better the performance.
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 24
Oerlikon Technology
PECVDClean TCO Laser TCO AssemblyLaser Lasera-Si/ µ-Si
LSS 1200
TCO 1200
KAI 1200
Turnkey Advanced Manufacturing Lines
- Advanced process integration
- Systems and support
Advanced process solutions plus high performance cell technology
deliver lowest cost per watt
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 25
Oerlikon Turnkey Services
Uptime Improvement
Quarterly Preventative Maintenance
Equipment top condition
PM adapt to the production
Coordinated Maintenance
EquipmentMove-In
Delivering fastest time to money
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 26
Growing Solar Customer Base
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 27
Industry Announced GW Thin Film Fabs
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 28
Significant capacity ramp up following explosive demand
Q1 to Q3Highlights
Outlook
2007 HighlightsStrong sales and order momentum –important global customer wins
Introduction and first contracts signed for Micromorph technology
Development of internal and external supply chain
Formation of solar segment within Oerlikon and strengthening of management team
OutlookRamp-up of global operations and supply chain to match substantial demand growth
Continuous improvement/innovation of key components
Focused completion of offering along the value chain
0
200
400
600
800
1'000
1'200
2006 2007p 2008p 2009p
(in CHF M) Sales* targets
>1‘000
>600
>300
~90
Order Intake 2007 > CHF 600M
*Solar Sales 06-07 in Coating, 08- Solar will be reported as separate segment
Jeannine P. Sargent * Piper Jaffray Clean Tech * February 20, 2008 * aew 29
Solutions for a Solar Powered World
Thin Film is Solar’s fastest growing segment contributing to a $134B (€100B) total Solar Market opportunity by 2015
Oerlikon is on track to achieve grid parity by 2010
Proven thin film solutions for high volume solar module production
(Calculated with an exchange rate of €1.00 =$1.34)
Oerlikon Solar offers cost-effective,proven solutions for the mass production
of Thin Film Silicon Solar Modules.
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