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Pitch Deck ATEC Series A.pdf

  1. clean cooking decarbonised at scale
  2. IMPORTANT NOTICE This Deck is confidential and contains proprietary information and intellectual property of ATEC Australia-International Pty. Ltd (the “Company”). Neither this Deck nor any of the information contained herein may be reproduced or disclosed under any circumstances without the express written permission of the Company.
  3. Decarbonising cooking will benefit 4 billion people and reduce 2% of global emissions
  4. Cooking with wood affects half the world’s population 800 million households currently cook with wood (biomass). Combined with large-scale industrial agriculture deforestation and increasing incomes, these households are primed to transition to modern cooking. Solving clean cooking with decarbonising technologies will unlock significant Annual Recurring Revenue (ARR) in carbon markets to drive adoption 3.5 million deaths annually – or 1 in 18 fatalities – from smoke inhalation (mainly women) $15/mth Cost of buying biomass once local sources are removed 11m ha/year deforestation driven by industrial agriculture meaning cooking with wood is no longer sustainable. US$ 1.4 trillion Healthcare costs for treatment of smoke inhalation conditions US$ 800 billion increased household productivity US$ 2.2 trillion net economic gain of decarbonising cooking
  5. Decarbonising cooking is a $16bn ARR carbon market Decarbonising cooking will result in 2% global emissions reduction, more than decarbonising the global airline industry. The high quality carbon credits generated from this presents a $16bn Annual Recurring Revenue (ARR), but the pipeline of projects is highly constrained due to lack of scalability. IoT Asset RealTime carbon credits Net Zero Partners Digital verification McKinsey (2021) expect a 15x demand increase for voluntary credits by 2030 with net zero commitments becoming stronger - then 100x by 2050 Future of carbon credits will be instant digital generation off the device that can then be transferred in real-time to net zero partners globally. “Tech-driven approaches to measurement, reporting and verification of climate impact claims is poised to transform the market for carbon credits.” Brandon Middaugh, Director, Microsoft Climate Innovation Fund.
  6. ATEC’s patented Product+Carbon technology is uniquely placed to decarbonise cooking at scale.
  7. is a proven global leader in cookstove and carbon markets with patented IoT technology that seamlessly connects product with international carbon markets. Track Record ➢ Established 2016, ATEC is a multi-award winning enterprise ➢ Over 6,000 units sold Cambodia & Bangladesh, over 4,000 active customers ➢ 5x YoY unit sales growth last 12 months Jul’21-Jun’22 ➢ Global leader in pay-as-you-go cooking since 2019 ➢ $3.6m equity funding to date - investors include Engie, Schneider Electric & Elea ➢ 1st carbon credit deal signed with Engie in 2021 ➢ $34.6m in carbon credit deals at term sheet or proposal phase from Jan’22 onwards ➢ First company globally to register IoT carbon credits under GS methodology in 2022 ATEC Product GPS Locations ATEC has proven market penetration and growth 2 x Patented Products
  8. ATEC’s flagship product, eCook, is a high-efficiency electromagnetic induction stove with embedded IoT technology. ATEC forecasts that electric cooking will become the standard in cooking by 2030 - following $1.2tn being invested per year in electrification and decarbonisation. eCook is the best-in-class performance and revenue potential Patented PAYGO meaning customers can pay off the stove for as little as $5/mth Highest safety of any cooking solution for daily use, zero particulate emissions. Automatically calculates Carbon Credits straight to ATEC’s AWS server. Paygo + mobile money means customers can easily order online with reduced risk to upgrade Packaged with induction-ready pots, delivered via eCommerce distribution partners in 48hrs 50% cheaper to run than competition such as LPG or buying wood. All eCook stoves are manufactured with a GSM SIM card pre-installed. This makes them ready to use anywhere in the world. GSM connectivity allows ATEC to capture GPS & customer usage data in order to: Connect with international debt finance to fund paygo, stove switches off automatically if no payment Automatically generates Gold Standard carbon credits for sale on international markets View unit health and be notified of tamper warnings Monitor electricity consumption and advise customers of expenditure and savings will become a global market leader for decarbonising cooking
  9. is a two-part solution for farming households with highest carbon credit ROI of any stove type ATECBIO systems convert animal manure as well as human, kitchen and green waste into biogas for cooking & organic fertilizer for use in farming. Biogas is a nice product but will continue to have a strong market given it’s outputs for households and the highest output of carbon credits of any cooking device. Can be installed in areas with flooding or high-groundwater Up to 7 tons of carbon abated per unit per year =105 tons over 15 years. Integrated with ATEC PAYGO for installment payments Durable design has a service lifetime of 25 years Easy ‘ikea’ installation process allowing user install as scale Net income increases by up to US$ 521 / year • 20 tons of high-quality fertilizer per year for free, replacing harmful chemical fertilizers that degrade soil quality • Up to 1,800L of free biogas per day for cooking which also reduces emissions and health issues ATECBIO units turn farm waste into…
  10. ATEC’s Impact Flywheel is unique strategic core of how we deliver product+carbon as a compounding revenue and impact package over time. Households access paygo debt to finance the purchase of cookstoves while simultaneously generate carbon credits. Stove and carbon credit annual recurring revenue (ARR) grows over time - financing scale while cost/unit simultaneously drops. IMPACT FLYWHEEL Our ability to deliver an ARR package of product+carbon at scale is ATEC’s defensible position that will disrupt existing stove and carbon credit markets.
  11. ATEC combines global expertise with local knowledge to distribute its product+carbon credit solution to households across the world. Ben Jeffreys CEO Rebecca Penglase People and Performance Wilm Rompf Lead Product Development Engineer Nikolai Schwarz Country Director - Cambodia Shuvasish Bhowmick Country Director - Bangladesh Phillip Barrow CFO Strategic leader with over 12 years experience in managing teams across social enterprise and corporate sectors. Previous roles include National Development Manager at SSE, Product Development Manager at Oxfam and Regional Sales Executive at Westfield Ltd. Ben also has a Bachelor of Business with first class honors from Queensland University of Technology. During her time in the corporate and social enterprise sectors Rebecca has developed an exceptional skill set for project and people management, consulting & HR. Previous roles include Strategic HR Advisor & Mentor as well as Program and Portfolio Manager at Accenture.  Wilm is driving the innovation and constant improvement of our products and processes at ATEC. With a background in industrial engineering, Wilm has over 10 years of international experience in technical process engineering across manufacturing and public service industries. His expertise in managing technical teams and developing data driven environments will ensure ATEC products are world leading. Nikolai brings over 15 years of business development experience to ATEC*'s team. As Head of Social Business with Friends International, Nikolai specialized in building passionate, independent Cambodian teams. Nikolai holds a Masters Degree in Management from ESCP. Shuvo brings over 13 years experience from the gas sector in Bangladesh, previously as Head of Business Development at Unigas Ltd. Shuvo has a bachelor degree in Science and Engineering, an MBA in Marketing and an Advanced Certified Business Administration from IBA. Finance leader with over 30 years of experience holding leadership positions across corporate finance functions. Previous roles include Audit at EY, CFO of Retail at Lend Lease, Finance Manager at Leighton Contractors, Financial Controller at The GPT Group, and Corporate Controller at BGIS. Phillip has a Master of Applied Finance from Macquarie Graduate School of Management. Chung is a EMBA and double MSc qualified COO who passionately applies his experiences in operations, sales and marketing, branding and business development to ATEC with 15+ years of international cross-functional experiences across diverse industries. Chung Pin Teo COO Board of Directors Quentin Vaquette | Founding Partner, Wavemaker Impact(ATEC Chair) Matteo Chiampo | Technical Director – Second Muse Mike McCreadie | Senior Managing Director, FTI Consulting Loic de Fontaubert | Investment Director, Engie Rassembleurs d'Energies Henri de Reboul | Cofounder & CEO, Phitrust Christian Nielsen | Executive Director, Live and Learn International Eleanor Loudon | CEO, Engineers Without Borders Australia Stéphanie Abels | Director, elea Foundation ATEC Team
  12. Production • Bio: 2,000 units/mth • eCook: 10,000 units/mth Wholesale • Product package • Stoves provisioned to ATEC IoT services Distribution • Logistics partners in each market • 48hr delivery Digital eCom • ATEC’s custom ecommerce setup • Digital marketing customer acquisition • Centralised call centre User Finance • ATEC paygo $5-$30/mth via mobile money • No payment, device switches off Service & Carbon Data • 5 touch-point program: 90 days • 3 year warranty • Usage Data collected for carbon credits Business model - Product to customer ATEC has a proven track record in sales and distribution. ATEC brings the technology, finance and carbon opportunities to the value chain, then works with in-country distribution and digital marketing to connect product to customer.
  13. ATEC partnerships have enabled growth across multiple geographic and sector markets Debt & Equity Investors Partners Carbon Credits Product & Distribution
  14. $6.5m Series A will expand ATEC as a global leader in cookstove and carbon markets.
  15. $6.5m Series A will expand market reach and further develop ATEC’s product+carbon technology stack to aggressively capture both stove and carbon markets. Product and carbon market expansion via distributor partners across Asia & Africa. MOUs signed in each market. 40% 40% 20% Phase-2 product dev - enabling automated data & payment flow between household product and carbon/capital markets Digital carbon credit and paygo partnerships development to drive scale Nepal Rwanda Kenya Zambia Series A Focus Areas Usage U s a g e D a t a D a t a V e r i f i e d C r e d i t Carbon Credit Buyer ATEC Server Stove Phase-2 automated integration of product+carbon Verify
  16. Driving active customers, ARR & profitability, moving ATEC through further Series raises, break-even by 2025 and >$100m annual revenue by 2030. Full model here. Series A will setup ATEC for forecast $15m Series B in 2024 ARR will be driven by compounding active customer growth in paygo and carbon revenue streams As we further position ourselves as a trusted provider in both emerging households and international markets, ATEC will develop further ecosystem additions that seamlessly connect these two markets together to drive profitability, decarbonisation and social impact. Annual operating revenue ($ in million) 30% Carbon Credit ARR by 2030 6.5 15
  17. ATEC - triple-bottom-line opportunity this decade ATEC’s unique approach brings together emerging market households with international capital markets - bringing monetizable environmental, economic and social value. $120m total revenue by 2030 30m tons of verified carbon credits 39,000 lives saved through reduced smoke inhalation ATEC has a clear fundraising roadmap and exit strategy for investors by 2032. This goal will be achieved by maintaining a strong growth trajectory and reaching an annual recurring revenue of $100m+. Each stove will produce 2-7 tons/year for up to 15 years since date of installation as ARR. Through achieving carbon and stove market opportunities, an investment in ATEC will also achieve some of the highest social impact in the world - giving current and future generations of women the health, time and opportunity to improve their lives.
  18. Clean cooking decarbonised at scale Ben Jeffreys, CEO +61418347822