Low Cost, Aqueous Electrolyte

Sodium Ion Energy Storage

Jay Whitacre (CTO), Scott Pearson (CEO), Ted Wiley (VP B. Dev.)
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FULL TALK AVAILABLE ONLINE AT:

WWW.AQUIONENERGY.COM
SUPPORTED BY
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COMPANY OVERVIEW
Spun-out of Carnegie Mellon University incubation in January 2010
Experienced and innovative management team with a bias toward execution
Board brings deep access to relevant industries and government agencies
Funded by Venture Firm KPCB and the DoE
Organization
Novel class of sodium ion batteries with compelling benefits for a wide range
of energy storage applications
Aquion to produce batteries and assemble them into scalable systems
Solutions
Overview
Low cost, highly efficient, thousands of 100% depth of discharge cycles
Broad operating temperature window
Environmentally benign and recyclable
Hermetically sealed and maintenance free
Value
Proposition

Primary Market: grid scale energy storage
Off-grid wind and solar support
Lead Acid abuse cases

Target
Markets
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A DRAMATICALLY BETTER BATTERY FOR ENERGY APPS
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Metric Performance
Target Fully Scaled Production Price ($/kWh)
(useable, 4 to 6 hour rate)
<$300/kWh
Cycle Life (>60% DoD) >>5000
Discharge Abuse Tolerance
high
Energy Efficiency >85%
Operational Temperature Range (C)
-10 to 60 C
Maintenance None
Safety Excellent
Environmental Impact None
AQUION POSITIONED TO OFFER A TRULY ENABLING SOLUTION
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TECHNOLOGY: UNIQUE AND LOW COST
Significant materials innovations have co-evolved with large-scale manufacturing technology:
1) Anode: Low-cost, high-performance carbon
2) Cathode: Alkali intercalation MnO
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system compatible with aqueous sodium ion

based
electrolyte

3) Low cost, water-stable, corrosion free current collector and packaging materials

RESULT: easily Scalable, extremely long Cycle Life (many thousands),
high Round Trip Efficiency (>85%), completely Environmentally Benign
and very Low Cost
MANUFACTURING PROCESS AND FLOW
Battery Assembly
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Electrode Production
AUTOMATED ELECTRODE PRODUCTION, SEMI-AUTOMATED ASSEMBLY
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TECHNOLOGY: DURABLE MANUFACTURED BATTERIES
Voltage vs. Capacity
Chemistry locked down and scaling; In-house
large format industrial production demonstrated
> 30 Wh prototype batteries in production
Industry-proven polypropylene casing and
sealing technologies
Multiple 3
rd
party verification tests completed
by industry experts
Battery 0
Energy Density of Electrode
Stack
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TECHNOLOGY: MODULAR PRODUCT FORM FACTOR
Individual units strung together into 8
battery, 15 V modules
Modules can be stacked and connected in
series/parallel as needed
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TECHNOLOGY: CYCLE LIFE
5000 rapid cycles on Indicative Test Cell
Large Format Cycle Profile: +/- 1.5 Amps
Chemistry stable over broad voltage range
Symmetric charge/discharge profile
>5000 Cycles shown at high rates, (100% DoD)
>800 cycles over 15 months; ~ 6 hour rate
Near perfect coulombic efficiency
> 1 year constant cycling
6 hour rate, 100% DoD
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TECHNOLOGY: HIGH VOLTAGE STRINGS
>100 V strings in use currently, >1000 V
planned for fall
High tolerance to cell-to-cell mismatch
Minimal or no BMS required

String 10 Batteries
String of 60 Batteries
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TECHNOLOGY: HIGH TEMPERATURE ABUSE TESTING
60C for 850 hours with continuous 100% DoD cycling at 6 hour rate
Open Circuit Stand at 75% DoD for 40 hours
No self discharge observed
No loss in capacity/function as a result of stand
Test cycle
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TECHNOLOGY: KEMA TESTING
Fully sensored Aquion Energy 1 Wh units in
environmental test chamber
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1 Wh units tested; wind typified power
vs. time duty cycle imparted on battery
Charge/discharge rates range from 1C
discharge to 1.5 C charge
Battery easily supports signal
APPLICATION ANALYSIS: WIND SUPPORT/MICRO CYCLE
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APPLICATION ANALYSIS: PEAK SHAVING
8 hour charge, 16 hour discharge
Constant current conditions used
Energy taken/given very consistent
through many cycles


BATTERIES AND PACKS
Modular battery building blocks that scale to any pack size
Basic unit is a 2V battery connecting in series and parallel to any desired voltage and current
Two main classes of battery packs :

TIMING
Late 2011 and 2012:
Low volume production in place in Pittsburgh, PA.
Demonstration battery packs available for customer evaluation
2013 - 2014:
High volume production facility up in United States initially 500 MWh per year capacity.
Full commercial sales underway
2015 and beyond:
Additional high volume production in place
PRODUCTS
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Low Voltage
(12 48V)
High Voltage
(500 1000V)
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SUMMARY
Game-Changing Technology with Low Technical
Risk
Stable product and demonstrated performance
Technology protected with appropriate balance of
patents and trade secrets
Low cost, scalable manufacturing process
demonstrated
Compelling Value Propositions in Target
Applications
Superior performance at low Capex / Opex points
Near Term Revenues
Initial shipments in 2011/2012, ramping in 2013
High Customer Interest
Key Customers and Partners engaged
Capable and Proven Team
Company, Management, Board, Investors

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