1. Resource from Waste
PV-Silicon recovery from wafer sawing process
Plus MAT team
Höheweg 55, 3054 Schüpfen (BE), Switzerland
Plus MAT
sustaining values
www.plusmat.ch
info@plusmat.ch

2. Provider of system (equipment & process technology) to recover
from
Core team of record-proven experience in PV and related industry
Plus MAT AG Höheweg 55, CH-3054 Schüpfen, Switzerland
Resource (PV-grade Silicon) Waste (wafer sawing slurry)
Plus MAT AG

3. Sand Silicon Ingot Wafers
Solar
cells
Solar
modules
PV
system
Current
Silicon
− most precious material in PV
− ∼∼∼∼20% of total module cost
Problem:
40% - 50% of Si is lost
during wafer wire-
sawing process
Plus MAT offers system to recover the lost Si back to production
- Cost effective (<10$/kg instead of 20$/kg Si market price)
- Independent equipment unit from present production line
Plus MAT AG Höheweg 55, CH-3054 Schüpfen, Switzerland
Silicon (Si) – precious value in PV

4. Si recovery process at Plus MAT
Slurry composition after sawing
Patented Si recovery process:
surface treatment + micro-bubble floatation
Ready-to-be-used
Si feedstock
USP of plus MAT’s technology:
Cost-effective solution for long-
lasting market demand.
Plus MAT AG Höheweg 55, CH-3054 Schüpfen, Switzerland

5. IP protection strategies:
- Patents
- Continuous innovation to be technology leader
- Collaboration with local governmental organisations
Plus MAT AG Höheweg 55, CH-3054 Schüpfen, Switzerland
Product distribution model

6. Significant profit for customers
Significant cost
saving potential in a
PV production line
Plus MAT AG Höheweg 55, CH-3054 Schüpfen, Switzerland

7. - Si technology will stay as dominant
technology for strongly growing PV market
- Market volume and value of Si recovery will
increase by 20-30% per year (>20B$ in 2016)
Market demand of Si in PV industry
grows strongly from 2014
Market of Si and its recovery
Plus MAT AG Höheweg 55, CH-3054 Schüpfen, Switzerland

8. - Bottom-up approach
- The only theoretical limit is global
market volume
- Market share will grow exponential
after technology & market maturity
- Global sales with focus on Europe,
China and America
Market expectation of Plus MAT
Plus MAT AG Höheweg 55, CH-3054 Schüpfen, Switzerland
Year 1
(2014)
Year 2
(2015)
Year 3
(2016)
Year 4
(2017)
No. of sold equipment 1 2 5 13
Sales (kCHF) 1’000 2’000 5’000 13’000

9. Technology development
- Team complete
- Process development ready
- Small-scale prototype ready
- Sub-contractors for equipment
construction identified
Market development
- Team complete
- First positive feedback received
- LOI for first customer signed
- Support from local Swiss
organizations close to customers
Next steps:
- Kick-off industrial upscaling and equipment
assembly
- Commissioning of a 25MW PV Si recovery
system to first customer in 2014.
- Establish more market visibility in Europe,
China and US
Present commercialization status
Plus MAT AG Höheweg 55, CH-3054 Schüpfen, Switzerland

10. Equipment producers in PV value chain
Supporting organizations from Swiss confederation
Research partners
Financially supporting organisations
Product and market development partners
Plus MAT AG Höheweg 55, CH-3054 Schüpfen, Switzerland

11. SWOT analyses
Plus MAT AG Höheweg 55, CH-3054 Schüpfen, Switzerland

12. Landscape of competitors
Plus MAT AG Höheweg 55, CH-3054 Schüpfen, Switzerland
− Italian company, formerly a subsidiary of SiC-processing GmbH,
specialized in recycling of diamond wire sawing coolant.
− R&D on Si recovery from diamond wire sawing waste, based on
chemical washing. A newly kick-off EU project SiKELOR to reduce
impurities in recovered Si by electromagnetic field.
− Prof. C.W. Lan @ National Taiwan University
− Close relation with Sino-American Silicon Products Inc.
− R&D on Si recovery from slurry sawing waste, based on
electromagnetic separation and high temperature treatment.
Process advantages from Plus MAT:
- World-leading technical results on purity and yield of recovered Silicon (source from publication,
conference and private communications)
- Universal for both slurry and diamond wire sawing technologies
- Cost-effective: Process at room temperature and ambient pressure without energy-intensive
steps

13. Year 1 Year 2 Year 3 Year 4 Comment
Sales (kCHF) 1’000 2’000 5’000 13’000 - recovery unit price of 1’000kCHF
- customers’ payback time is 1 year
No. of sold equipment 1 2 5 13
Recovery volume (MW) 25 50 125 325 recovery system unit volume of 25MW
Gross margin without salary 21.5% 30% 37% 42%
Wages and social cost (kCHF) 300 700 1’500 3’000 100kCHF as average personnel cost
Personnel (FTE at the end of the year) 3 7 15 30
Expenses 715 1’400 3’150 7’500
Materials & Production (kCHF) 500 1’000 2’500 6’500
Invest. in WC & fixed assets (kCHF) 215 400 650 1’000
Highest cumulated FCF on a monthly
basis (kCHF) -500 -700 -900 -1’500
payment model:
- 40%/50%/10% on account receivable
- 60 days on account payable
Net profit (kCHF) -15 -100 350 2’500
Net profit margin -1.5% -5% 7% 20%
− Seed fund to date has been by founders, STI foundation, CTI-project, and Bern Economic
Development Agency in the amount of 790kCHF.
− Application of project from Swiss Federal Office of Energy to co-finance the Y1 upscaling
expenses.
− Break-even is expected from year 3 of operation.
− Series A fundraising to cover negative cash flow.
Financial plan
Plus MAT AG Höheweg 55, CH-3054 Schüpfen, Switzerland

14. Phase 1 (year 1) Phase 2 (year 2-4)
Fund raising target (CHF) 500’000 1’000’000
Pre-money evaluation 2’500’000 4’000’000
Post-money evaluation 3’000’000 5’000’000
% of stakes for investors 16.67% 20%
... as well as to seek experience in
international business:
- Plus MAT produces equipment in Switzerland and sells to global customers.
strategic planning:
- Balance of continuous innovation in technology and market development is the
base for the sustainability of Plus MAT.
Series A fundraising target
Plus MAT AG Höheweg 55, CH-3054 Schüpfen, Switzerland

15. Year 1 Year 2 Year 3 Year 4
Sales (kCHF) 1’000 2’000 5’000 13’000
Net profit (kCHF) -15 -100 350 2’500
Net profit margin -1.5% -5% 7% 20%
Exit plan
Plus MAT AG Höheweg 55, CH-3054 Schüpfen, Switzerland
Exit strategy:
Scenario 1:
− Trade sale or technology alone exclusively to a partner or a customer with large
profit potential (e.g., a saw producer, a slurry recovery company, or a wafering
company).
− Possible from Year 1.
Scenario 2:
− Non-exclusive offering of the technology and IP to all the relevant players (sawing
equipment producers, slurry recycle companies, wafering companies).
− Possible from Year 2-3.
Scenario 3:
− Public offering.
− Not earlier than Year 5.

16. Sustaining Values by Recovering from
Plus MAT
Resource Waste