Romeo Power is still a fairly new company having only been founded in 2016. Battery Engineering Passenger EVs Commercial EVs Specialty EVs HP EVs End Products Downstream Is Our Core Competency Upstream Midstream Vehicle Expertise Raw Inputs & Cell Expertise Cell Science Design and Engineering Romeo performs extensive independent evaluation of cells and closely collaborates with industry leading cell manufacturers at early development stages of next generation cell technology Cell selection process based on energy density, quality and safety standards Modular / E - Plate Technology & Electro - Mechanical Engineering Designed for durability and crashworthiness; fulfills requirements for volume production such as manufacturability and serviceability Modules are designed to meet the highest safety standards and have undergone extensive testing and broad - based customer validation Thermal Engineering Designed for consistent temperature distribution within and among all battery cells guaranteeing lifetime maximum battery performance Battery Management System (BMS) Creates a singular platform enabling all customers to benefit from field testing of electronic and software for prototypes through scaled deployment Established safety measures system , including isolation monitoring, high voltage interlock, manual service disconnect, hardware and software protections BMI - AI 1 Maximize total fleet battery health by leveraging machine learning to help reduce total cost of ownership Learn aging factors from field behavior based on feedback from battery population health optimization Provide individual decisions that benefit net total asset and increased profitability of fleet managers, and total cost of ownership Core Focus on Battery and Module Packs Mass Production, 15 Competitive Advantage How Romeo will seek to win the largest market share 1. Romeo first batteries will reach end of life between 2025 and 2027 . Larger Packs 1 MWh packs deliver the best BEV solution for long - haul 4. RMG stockholders will also be able to obtain copies of the proxy statement/prospectus and definitive proxy statement (when av ail able) and other documents filed with the SEC by RMG through the SECs website at www.sec.gov. This non - GAAP financial measure should not be considered in isolation from, or as an alternative to, financial measures determin ed in accordance with GAAP. 4 Values shown assuming $10 per RMG share for illustrative purposes; does not include impact of 7.6 and 4.6 million public and sponsor out - of - the - money warrants % / mm of shares, 45 $ 0 $ 200 $ 400 $ 600 0.0 x 3.0 x 6.0 x 9.0 x Jun-10 Dec-11 May-13 Nov-14 Apr-16 Oct-17 Mar-19 Sep-20 Tesla Share Price EV / Revenue Share Price EV / Revenue Median EV / Revenue 6.5 x 1.7 x 3Y Forward Revenue Multiple Current 6.5 x Median 3 1.7 x Years After De - SPAC T+3 T+4 T+5 Mgmt Projections 2023E 2024E 2025E Revenue $ 765 $ 1,156 $ 1,650 EBITDA $ 91 $ 196 $ 338 % Margin 12 % 17 % 20 % EV / Revenue 1.3 x 0.9 x 0.6 x EV / EBITDA 10.9 x 5.0 x 2.9 x Romeo Pro Forma Valuation Opportunistic entry point relative to future transportation and energy technology peers Market reference points Sources: Company materials, Capital IQ and Bloomberg as of September 30, 2020 1 Nikola Investor Presentation dated March 3, 2020. JVs Sales Field of Use JV Allows Romeo to Efficiently Accelerate Penetration of Broader CV Market with a World - class Partner F ulsome Partnership incl. Investor Day Presentation. It is not intended to form the basis of any investment decision or any other decisions with respect of th e Business Combination. Demonstrated strengths in strategic partnerships . In addition, this non - GAAP financial measure is subject to inherent limitations as they reflect the exercise of judgment by management about which expense and inc ome are excluded or included in determining this non - GAAP financial measure. Any and all trademarks and trade names referred to in this presentation are the property of their respective owners. By providing your email address below, you are providing consent to Romeo Power to send you the requested Investor Email Alert updates. Romeo Power merges with SPAC. You must click the activation link in order to complete your subscription. Romeo Power - Events & Presentations Events & Presentations Romeo Stockholders: Click HERE for the Latest Information About the Tender Offer for the Nikola Transaction Upcoming Events Featured Presentation Archived Events & Presentations (Source: Investor Presentation) Romeo is an attractive bet for electric vehicle OEMs as it offers flexibility, production scalability, enhanced safety features, and an established recycling. Email Address * Investor Alert Options * News: Events & Presentations: Quarterly Reports: Annual Reports: SEC . The challenge that Romeo faces is one of supply and demand. Romeo Power will raise $384 million in the deal, which includes a $150 million PIPE investment from investors such as The Heritage Group and Republic . Prospectuses and Registrations Filter. It's led by president and CEO Lionel E. Selwood, Jr. Selwood only recently took on the CEO role but has been serving. Such statements are based on the beliefs of, as well as assumptions made by and information currently available to, RMGs management. Romeo Power is has a solution that targets three of the common obstacles to EV battery adoption. The SPAC has big plans in the commercial EV battery technology market and a long list of potential customers . 2 Truck OEM Companies include Volvo, Paccar, Traton and Navistar . 3 Important Notice (Contd) Use of Projections This presentation contains financial forecasts. 2021 Romeo Power, Inc. All Rights Reserved. Configurable Current Collector Serves multiple voltage motors Enables fast upgrade to b attery electric v ehicle (BEV) 2. You can sign up for additional alert options at any time. Through its suite of advanced hardware, combined with its innovative battery management system, Romeo Power delivers the safety, performance and reliability its customers need to succeed. In order to compensate for these limitations, management presents a non - GAAP financial measure in connection with GAAP results. 2024E Rev. 3 Since IPO + Additional Upside: Romeo valuation does not include BWA JV revenue opportunity Years After IPO T+3 T+4 T+5 Wall Street Estimates 2013E 2014E 2015E Revenue $ 1,846 $ 2,153 $ 2,717 EBITDA $ 196 $ 286 $ 436 % Margin 11 % 13 % 16 % EV / Revenue 0.8 x 0.7 x 0.6 x EV / EBITDA 7.9 x 5.4 x 3.6 x Years After De - SPAC T+3 T+4 T+5 Mgmt Projections 2023E 2024E 2025E Revenue $ 1,414 $ 3,226 $ 5,640 EBITDA ($ 66) $ 213 $ 666 % Margin NM 7 % 12 % EV / Revenue 2.4 x 1.0 x 0.6 x EV / EBITDA NM 15.6 x 5.0 x Attractive valuation 3Y Forward Revenue Multiple Current 5.4 x At Deal 2.4 x $ 0 $ 40 $ 80 $ 120 0.0 x 5.0 x 10.0 x 15.0 x Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Nikola Share Price EV / Revenue Share Price EV / Revenue EV / Revenue At Deal Median EV / Revenue 5.4 x 9.7 x 2.4 x, 46 25.7x 5.4x 2.5x 7.7x 6.5x 4.8x '22E '23E '24E '22E '23E '24E Valuation Benchmarking Enterprise Value / Revenue Enterprise Value / Revenue 11.1x 2.4x 1.0x 2.5x 0.8x 0.7x 3.2x 1.1x 0.5x 0.6x 0.3x 0.2x 5.6x 2.2x 1.3x NM NM 237.2x '22E '23E '24E '12E '13E '14E '22E '23E '24E '22E '23E '24E '22E '23E '24E '22E '23E '24E Hyliion at Deal Lordstown at Deal Tesla at IPO Nikola at Deal Romeo Power Sources: Company materials, Capital IQ as of September 30, 2020 1 Truck Component Companies assumes median of Cummins , Allison, Meritor and Dana. Romeo will contribute initial capital for the facility in return for a 30% share of net profits Romeo Partnership with Heritage Brings 500 Vehicle Conversion Opportunity and Significant Profit Share Facility, 24 Experienced Leadership T eam Lionel Selwood, Jr Chief Executive Officer AK Srouji, PhD Chief Technology Officer Criswell Choi Chief Operations Officer Michael Patterson Founder and Chief Sales Officer Lauren Webb Chief Financial Officer, Romeo Power Overview Validated Technology & Products Section 1, 26 Engineering Overview Strong team with relevant combined experience across key engineering disciplines Romeo Engineering Overview Select Professional Experience Representative Product Launch Experience of Romeo Engineering Team Apache Helicopter SpaceX Dragon Rocket Tesla Roadster Tesla Model S Tesla Model X Faraday Future FF91 Fiat 500e Porsche Cayenne Hybrid 60+ battery - specific engineers Deep knowledge experts team across all core engineering disciplines including electrical, thermal, chemical, mechanical, electrochemistry Team members experienced with multiple prolific vehicle launches Combining automotive, space, and aviation tech to create the most advanced battery systems for electric vehicles 7 GWh - capable, fully functional manufacturing and R&D center located in Los Angeles, California, 27 Technology Overview Romeos batteries use a modular design and best - in - class components Cell procurement is a carefully guided process with rigorous testing and validation processes to ensure only the best cells are selected Romeos packs and modules are cell - agnostic, allowing the company to use only the best for each application, and adapt and change as new cells come to market Cell Science Flexible and customizable design acts as a building block which allows for custom packs without needing months / years of additional R&D for each prototype Modules are designed to meet the highest safety standards and have undergone extensive testing and broad - based customer validation, both at the individual pack and module level Module Technology Mechanical pack design addresses key requirements from durability and crashworthiness to manufacturability, serviceability, and recyclability Flexible design allows the company to reach significant scale and a broad range of customer needs without incurring significant additional costs and overhead Pack Technology Battery management system serves as complete solution for monitoring and control Romeos BMS are built on a highly configurable platform, allowing it to support a wide variety of architectures, and driving lower cost and a faster time to market when compared to peers BMS Developed by Romeo In - House 1 2 3 4 Exhaustive Testing In - House, 28 Cell Science & Technology Cell Supplier Selection Broad Spectrum of C ells and Chemistry for Multiple Applications 1 A highly selective process allows Romeo to use only the top - tier quality cells Multi - tiered Cell Validation Stage 1 Stage 2 Stage 3 Beginning of Life Electrical Characterization Welding Evaluation Reproducibility Evaluation Single Cell Safety Test Cycling / Calendar Aging Open Circuit Voltage Degradation Fast C harging Critical gating step for long - term commitments Over 200 Cells Tested from 10 Suppliers 10 Cells Qualified 6 Cells Qualified Only 4 Cells Ultimately Qualified Romeos extensive cell selection process allows the company to rigorously test hundreds of cells and choose only the best for each application, based on energy density, quality and safety standards Evaluation of long term behavior for specific application Identify parameters for battery management system Collect data to strengthen battery pack warranty Characterize and verify quality of supplier manufacturing processes Verify mature cell can pass Romeos stringent safety metrics Verify supplier claims, and evaluate state of chemistry Validate mechanical properties 0 200 400 600 800 1000 0 40 80 120 160 200 240 280 320 360 Energy Density (Wh/l) Specific Energy (Wh/kg) Moderate requirements Longest range, and longest life Fastest Charge High power low density, 29 Module Technology Flexible and efficient building block for configurable, scalable energy storage 2 Hermes Module Configurable and Scalable (x8 voltage variants) Integrated B attery M anagement Board High Performance, Integrated and Structural C ooling - plate Lightweight I solation Material Key Attributes Market - leading automotive building block with active high cooling performance 20 - 30% more energy density than same - size competitor packs 1 High stability and superior thermal management (<4 C Temp delta) Patented cold - plate technology allows for quick integration into Class 1 to Class 8 electric motors Electrical isolation protection achieved without compromising energy density or thermal performance Liquid active cooling within slimmest volume factor (7% of volume) No fire propagation during single or multiple cell failures 2hr baseline charge time for optimal life (20min, fast charge to 80%) Highest manufacturing rate at <100 ms per Cell 1 Management estimate, 30 Pack Technology Customers are willing to pay a premium for integrated products from their battery solution provider 3 Hermes Module Delivery Truck Step - Van Freight Bus / Shuttle Fire Truck Refuse Truck Passenger Truck High Performance EV Using 4 major cells, with 8 voltage variants and 6 different packs, Romeo is able to create 192 products utilizing the same module, manufacturing line, process and test sequence, allowing for high customizability and product expansion with ease 1 Representative only, non - exhaustive list of potential end markets or offerings. you are providing consent to Romeo Power to send you the requested Investor Email Alert updates. These projections are for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. Neither RMG nor Romeo undertakes any obligation to update its forward - looking statements to reflect events or circumstances after the date hereof. Additional risks and uncertainties are identified and discussed in RMGs reports filed with the SEC. At Romeo Power, we promise to treat your data with respect and will not share your information with any third party. BWA Minority Equity Stake, 23 Strategic Partnership with Heritage for Responsible Environmental Controls Heritage is a leader in the environmental, waste management and recycling services industry with an extensive history of managing / recycling all battery types for thousands of customers Focus on sustainability and reuse applications Deep expertise in materials and environmental solutions The Heritage Group and affiliates also owns 31.6% of Heritage Crystal Clean ( NASDAQ:HCCI ) Investment in Romeo The Heritage Group was an early investor in Romeo and has been actively supporting the growth of the business Fleet Conversion Contract Romeo will work with leading BEV OEMs to convert 500 diesel trucks owned by Heritage and its affiliates to BEV 125 trucks per year 2021 - 2025 Total estimated product sales of $ 54mm Projected ROI of 50% and IRR of 26% Strategic Partnership with Revenue Share Together Romeo and Heritage are developing a battery reuse and recycling facility with capacity to process Romeos lithium ion batteries at the end of life. Entrepreneurial spirit with experience in corporate development, institutional relations and industry-led initiatives. Power Reminds Stockholders to Tender Shares for Nikola Transaction Before September 26, 2022 Deadline, Nikola Investor Presentation Q3 FY23. At Romeo Power, we promise to treat your data with respect and will not share your information with any third party. No Offer or Solicitation This presentation shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Business Combination. Participants in the Solicitation RMG and its directors and officers may be deemed participants in the solicitation of proxies of RMG stockholders in connectio n w ith the Business Combination. Battery Pack Family Modular solution serves multiple markets 3. 425: Top Shareholder Questions & Answers, S-4: Registration of Stockholders UPDATED, Romeo Stockholders Tender Reminder: Process & Instructions for How 2 Truck Component Companies assumes median of Cummins , Allison, Meritor and Dana (T+3) (T+4) Tesla Today Nikola Today 2021E EV OEM 10.9x 5.1x '23E '24E 114.3x 17.1x NM NM NM 9.6x 7.4x Truck Component Median 2 Truck OEM Median 1 Hyliion at Deal Lordstown at Deal Tesla at IPO Nikola at Deal Canoo at Deal QuantumScape at Deal NM 15.6x 7.9x 5.4x 5.1x 1.8x 3.2x 1.6x NM 9.8x NM NM '23E '24E '13E '14E '23E '24E '23E '24E '23E '24E '23E '24E, 48 17% 29% 13% 13% 10% NM NM 7% NM 18% 16% 12% 10% 3% 14% 13% Represents 2022E Margins 228% 147% 108% 87% 85% NA NA NA 68% NM 220% 61% 54% 35% 27% 7% Operational Benchmarking Revenue 2022E - 2024E CAGR 2024E EBITDA Margin Sources: Company materials, Capital IQ as of September 30, 2020 1 Figures represent CAGRs and margins based on company projections as publicly disclosed in investor presentations 2 Based off consensus research estimates at IPO, Capital IQ as of March 3, 2011 3 Truck Component Companies assumes median of Cummins , Allison, Meritor and Dana 4 Truck OEM Companies include Volvo, Paccar, Traton and Navistar . INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS, ANY AMENDMENTS THERETO AND ANY OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION AB OUT RMG, ROMEO AND THE BUSINESS COMBINATION. Joe Caminiti or Ashley Gruenberg Through its suite of advanced hardware, combined with its innovative battery management system, Romeo Power delivers the safety, performance and reliability its customers need to succeed. TENDER REMINDER FAQ for Romeo According to Romeo Power, its solution will deliver a battery with a 25% energy density advantage. Download PDF . You must click the activation link in order to complete your subscription. 2 Based upon Wall Street consensus research estimates at IPO and Capital IQ as of March 3, 2011. China) BWA Equity Investment in Romeo BWA invested $ 50mm in Romeos capital raise in 2019 for a 20% equity stake and representation on Romeos Board Provides significant third - party validation of Romeos technological leadership and massive market opportunity Joint Venture In conjunction with equity investment, BWA and Romeo formed a joint venture to pursue opportunities globally in light vehicles and in HD/MD CVs outside of North America. 10 Romeo Power at a Glance Powered By World Leading Technology Romeo Power Modular and Scalable Product Design Approach Enables Customer Centric Solutions Founded in 2016 By former leaders from Tesla, SpaceX, Amazon , Apple, and Samsung ~100 Dedicated employees 60+ Battery - Specific Engineers 7 GWh Capable / 113,000 sq. Romeo Power is an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications. Romeo Power for an online investor presentation and live Q&A discussionregarding their proposed merger Date: Tuesday, December 15th Time: 1:00 p.m. (Eastern Time) * Management will be taking questions from the audience * Share this: LinkedIn Twitter Print Email ByKristi Marvin Search Cart Archives Inclusion of the prospective financial information in this presentation should not be regarded as a r epr esentation by any person that the results contained in the prospective financial information will be achieved, Industry and Market Data In this presentation, we rely on and refer to information and statistics regarding market participants in the sectors in whic h R omeo competes and other industry data. Additional Information In connection with the Business Combination, RMG intends to file a registration statement on Form S - 4 (the Registration Stateme nt), which will include a preliminary proxy statement to be distributed to holders of RMGs common stock in connection with RMGs solicitation of proxies for the vote by RMGs stockholders with respect to the Business Combin ati on and other matters as described in the Registration Statement, as well as the prospectus relating to the offer of the securities to be issued to Romeos stockholders in connection with the completion of the Business Combinatio n. After the Registration Statement has been filed and declared effective, RMG will mail a definitive proxy statement, when available, to its stockholders. 312-445-2870 You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Download PDF . and Romeo Power Joint Merger Press Release, 7-30-22 8K: 6/15/22. 2025E Rev. In an earlier investor presentation, the company delivered a forecast of $140 million of revenue in 2021. You can sign up for additional alert options at any time. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by se curity holders or otherwise, will be included in the proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the Business Combination when they become available. Print Page | E-mail Page | 6/3/22. Recent Business Highlights Achieved year end commitment to have approximately 1 gigawatt hour of installed capacity at . Stockholders, Romeo Stockholders Tender Reminder: Process & Instructions for How ft. State - of - the - art manufacturing facility located in Los Angeles, California Strategic Investor and JV partner PATENTED TECHNOLOGY & LONG - TERM ENERGY INNOVATION ROAD MAP Protected future as market leader in battery design and manufacturability and cutting - edge battery management system BUILT BY MARKET LEADING EXPERTISE Assembled elite team of more than 60 battery - specific engineers and manufacturing experts dedicated to advancing the global frontier of electric vehicle energy technology LEADING EDGE TECHNOLOGY AT COMPETITIVE TOTAL COST OF OWNERSHIP Modular design drives scalability while allowing ability to efficiently configure and customize to individual customer needs; flexible and efficient manufacturing process BATTERY MANAGEMENT INTELLIGENCE Battery Management System (BMS) with proprietary algorithms optimizes safety, industry leading performance and longevity Romeo Partnership with BorgWarner Significantly De - Risks Production Execution $765mm $1.2Bn $1.6Bn 2023E Rev.
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