Pitch Deck Teardown: Orange's $2.5M Seed deck

An affordable
⚡ electric vehicle charging
solution for multi-unit properties
SEED ROUND
Nicholas Johnson
6.27.22
www.orangecharger.com
Installing, scaling, and managing
⚡ electric vehicle charging
at multi-unit properties is complex
● EV charging is becoming required for
new construction and renovation in a
growing number of states.
● Existing EV charging solutions are
expensive and limit the number of
possible charging stations a property
can support without costly panel or
service upgrades.
Problem with Current EV
Charging Solutions.
EV Sales are Growing Faster than Properties
Can Install Current Charging Solution
Source: Bloomberg
By 2025, electric vehicles will cost as much as gasoline powered cars.
Creating a tipping point in sales to a wider market!
Electric vehicles will
account for 35% of
all vehicles
Orange Charger Inc Copyright 2022
276
million
vehicles
(US)
Solving Multi-Family EV Charging
US Market Opportunity
52.6 million
people live
in multi
family
housing
$8.4B US TAM
www.nahb.org
96.6
million
electric
vehicles
(2032)
Assumption:
Orange makes
$350 per
hardware sale
Recurring
revenue
$240 per
EV driver
per year
$100M ARR
÷ $590 Per Sale
170k Active EV
Drivers
52.6M x 32% EV
Adoption.
16.8M x $504
$8.4B Market Size
Orange Charger Inc Copyright 2022
Orange Charger Inc Copyright 2022
Orange, An Affordable Charging Solution That
Scales
1. EV driver uses mobile app
to pay for electricity.
2. Orange
collects
payments and
energy data
costs.
3. Orange reimburses
property owner for electricity
cost.
4. Orange uses proprietary
software to source clean energy.
OUTLET
120
Per Outlet +
Installation
$400
Electricity
Margin
¢/kWh
Property
Owner
EV
Driver
Orange Charger Inc Copyright 2022
Hardware & Software Solutions
Orange makes ~$240
per year from each
driver who uses it for
their primary charging.
Installation cost
ranges from
$600-$1600
Orange Outlet Technical Specifications
Outlet 520 Outlet 620
Standard Voltage 120V
Active Energy 1.92KWh
Continuous Current 16 Amps
Connectivity Cellular or Wifi all With
BLE Mesh
Miles Added Per Hour 5mph*
Standard Voltage 240V
Active Energy 3.84KWh
Continuous Current 16 Amps
Connectivity Cellular or Wifi all With
BLE Mesh
Miles Added Per Hour 15mph*
Orange understands each
user’s needs
● The average commute is 50 miles per day,
which takes Orange’s NEMA 6-20 Outlet 3.3
hours to recharge.
● Orange Outlet reduces the property’s
installation cost by 60% compared to other
level 2 solutions.
● By removing the cable we remove the main
point of failure, reducing the property’s ongoing
maintenance costs.
2hr 25m Remain · 16/16A · 15/15 mi/hr
Rosie
Orange Charger Inc Copyright 2022
Orange Saves Money for Properties
Compared to the Competition
Hardware Cost $350 $400 $2,000 $1,500 $2,000
Electrical Permits & Licenses $150 $150 $1,500 $1,500 $1,500
Setup Fees 0 0 $500 $450 0
Installation ~$800 ~$800 $2,000 $2,000 $4,500
Total Fixed Install Cost $1,100 $2,000 $6,200 $5,600 $6,200
Annual Service Fees $216 $72 $300 $240 $340
Commissions on Revenue 5% 5% 15% 20% 20%%
Total Yearly OPEX $216 150 $500 $400 $420
Meets CDFA Code to Sell $/kWh Yes No Yes No Yes
Tracks Utility Energy Cost Yes No No No No
Orange Creates ROI Where the
Competition Fails
Others talk about revenue,
hiding they often lose the
properties money.
Orange promotes profits.
Orange Charger Inc Copyright 2022
Example Orange Project Cost Analysis
Level 2
Networked
OCPP Service
Provider
Orange
Outlet
Number of EVSE Installed 10 10 20
CAPEX Installation $ (70,000) $ (70,000) $ (22,000)
Yearly OPEX $ (3,000) $ (2,400) $ (1,440)
10 Year Total Cost $ (100,000) $ (94,000) $ (36,400)
Total $ (73,000) $ (72,400) $ (23,440)
Cost of Electricity to Driver ($/kWh) 0.39 0.39 0.39
Revenue From Chargers $ 14,040 $ 14,040 $ 28,080
Total Cost of Electricity $ (7,200) $ (7,200) $ (14,400)
% Payed to Charging Provider $ (2,404) $ (2,106) $ (1,404)
Total Yr Profit to Property $ 5,436 $ 4,734 $ 12,276
10 Year Profit Factoring in EV Adoption $ (70,102) $ (67,963) $ 31,118
Years to Break Even 33 36 5
Orange Charger Inc Copyright 2022
Orange’s Business Model
Orange’s business model is a hybrid of hardware sales,
yearly SaaS fees, and a 5% of properties energy revenue.
Orange's Revenue
Unit Cost
Number
Units
Totals
Orange Outlets NEMA 620 (Cellular) $ 350 10 $ 3,500
Orange Care (5 Year Warranty) $ 75 10 $ 750
Yearly Network Revenue $ 240 10 $ 2,400
Yearly Revenue Energy Fee $ 157 10 $ 1,574
Total Yearly Revenue $ 8,224
Profit Margin On Sales 77%
CAC $ 3,000
LTV For 5 Years $ 10,211
LTV:CAC Ratio 3
Orange Charger Inc Copyright 2022
Orange’s Cash Flow for 10K Installations
Apartment Complexes Need Orange
B2B Sales
All new construction is required to
install EV charging for some
percentage of parking.
Orange is currently working with these
firms to provide charging solutions for
both new construction and retrofits.
Orange Charger Inc Copyright 2022
Orange’s Team
Nicholas Johnson
CEO
Tesla thermal electrical
engineer for Model 3
development. CTO and
co-founder of LYT.ai
Don MacNeil
Head of Sales
Previously sales at
Tesla, Juice Bar, and
Semaconnect.
The experience needed to build a national charging business.
Joseph Nagle
Head of Corporate
Strategy & Marketing
6 years corporate
strategy at EverCharge,
acquired by S&K.
Neil Joseph
Head of Operations
CEO & founder of Stack
Lighting, an IoT company
acquired by Phillips.
Tesla head of delivery for
Model S.
Volker Schönefeld
Fullstack Software
Engineer
Serial entrepreneur with
multiple highly successful
mobile games.
Orange Charger Inc Copyright 2022
Industry Vested Advisors
Martin Eberhard
Original CEO of Tesla,
developed original
Tesla Roadster. Has
created multiple
successful battery
companies.
Marc Tarpenning
Founded Tesla with
Martin; director of
software at Tesla.
Currently a cleantech
investor at Spero.vc.
Sven Thesen
Currently heading EV
charging policy &
advocacy for MFHs.
Nobel Prize recipient
for Climate research.
Mike Harrigan
Original VP of Sales at
Tesla. Has decades of
B2B sales experience
in the battery and
charging industries.
Orange Charger Inc Copyright 2022
Jonathan Crowder
Early stage investor in
the EV charging and
clean energy
segments.
Orange Charger Inc Copyright 2022
Raising $2M
Expand partnerships with
4 large multi family
property companies.
Increase supply chain
capabilities and
increase inventory to
reach 10k units sold.
Grow sales team, expand
engineering team, and hire
customer support.
Funds will go to scale the entire company to meet demand.
5k units deployed
representing an ARR of
$1.4M within 12 months.
Orange Charger Inc Copyright 2021
Nicholas Johnson
nicholas@orangecharger.com
+1 (415) 302-5909
Thank You
Orange Charger Inc Copyright 2021
Appendix
Images of some
of our Installs
Installed across 24 properties and counting Orange Charger Inc Copyright 2022
Orange Charger Inc Copyright 2022
Financial Projections
Financials
2022 2023 2024
Booking $ 1.20 $ 8.75 $ 17.50
COGS $ 0.63 $ 4.59 $ 9.19
Gross Margin $ 0.70 $ 3.50 $ 7.00
Expense $ 3.20 $ 10.40 $ 20.00
Net $ (2.00) $ (1.65) $ (2.50)
Headcount (FTE) 18 33 57
Cash at End of Period 2.2 4.8 8.2
GM% 58% 60% 60%
Units Deployed (k) 3 18 26
MMR Goals (k) 120 250 400
Orange Charger Inc Copyright 2022
Headcount (EOY) Projection
Department 2022 2023 2024
Eng 3 12 24
G&A 1 4 12
Mktg 1 2 4
Ops 1 3 12
Sales 2 20 42
Total 8 41 94
Sources
1. National multi-unit dwelling council
2. Consumer preferences for electric vehicle charging infrastructure
3. NTSHA 2017 Daily Drivers Survey
4. EV charging statistics
5. Electric vehicle charging infrastructure market worth $63.9 billion by 2025
6. The global EV charging infrastructure market is accounted at US$ 6.45 billion (2018)
7. Electric vehicles have lower fuel consumption than alternatives
8. New building codes support EV charging
9. EV charging blog - installations
10. PCE Incentives
11. PG&E Funding
12. New EV Charging Building Codes
1 de 23

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Pitch Deck Teardown: Orange's $2.5M Seed deck

  • 1. An affordable ⚡ electric vehicle charging solution for multi-unit properties SEED ROUND Nicholas Johnson 6.27.22 www.orangecharger.com
  • 2. Installing, scaling, and managing ⚡ electric vehicle charging at multi-unit properties is complex
  • 3. ● EV charging is becoming required for new construction and renovation in a growing number of states. ● Existing EV charging solutions are expensive and limit the number of possible charging stations a property can support without costly panel or service upgrades. Problem with Current EV Charging Solutions.
  • 4. EV Sales are Growing Faster than Properties Can Install Current Charging Solution Source: Bloomberg By 2025, electric vehicles will cost as much as gasoline powered cars. Creating a tipping point in sales to a wider market! Electric vehicles will account for 35% of all vehicles Orange Charger Inc Copyright 2022
  • 5. 276 million vehicles (US) Solving Multi-Family EV Charging US Market Opportunity 52.6 million people live in multi family housing $8.4B US TAM www.nahb.org 96.6 million electric vehicles (2032) Assumption: Orange makes $350 per hardware sale Recurring revenue $240 per EV driver per year $100M ARR ÷ $590 Per Sale 170k Active EV Drivers 52.6M x 32% EV Adoption. 16.8M x $504 $8.4B Market Size Orange Charger Inc Copyright 2022
  • 6. Orange Charger Inc Copyright 2022 Orange, An Affordable Charging Solution That Scales 1. EV driver uses mobile app to pay for electricity. 2. Orange collects payments and energy data costs. 3. Orange reimburses property owner for electricity cost. 4. Orange uses proprietary software to source clean energy.
  • 7. OUTLET 120 Per Outlet + Installation $400 Electricity Margin ¢/kWh Property Owner EV Driver Orange Charger Inc Copyright 2022 Hardware & Software Solutions Orange makes ~$240 per year from each driver who uses it for their primary charging. Installation cost ranges from $600-$1600
  • 8. Orange Outlet Technical Specifications Outlet 520 Outlet 620 Standard Voltage 120V Active Energy 1.92KWh Continuous Current 16 Amps Connectivity Cellular or Wifi all With BLE Mesh Miles Added Per Hour 5mph* Standard Voltage 240V Active Energy 3.84KWh Continuous Current 16 Amps Connectivity Cellular or Wifi all With BLE Mesh Miles Added Per Hour 15mph*
  • 9. Orange understands each user’s needs ● The average commute is 50 miles per day, which takes Orange’s NEMA 6-20 Outlet 3.3 hours to recharge. ● Orange Outlet reduces the property’s installation cost by 60% compared to other level 2 solutions. ● By removing the cable we remove the main point of failure, reducing the property’s ongoing maintenance costs. 2hr 25m Remain · 16/16A · 15/15 mi/hr Rosie
  • 10. Orange Charger Inc Copyright 2022 Orange Saves Money for Properties Compared to the Competition Hardware Cost $350 $400 $2,000 $1,500 $2,000 Electrical Permits & Licenses $150 $150 $1,500 $1,500 $1,500 Setup Fees 0 0 $500 $450 0 Installation ~$800 ~$800 $2,000 $2,000 $4,500 Total Fixed Install Cost $1,100 $2,000 $6,200 $5,600 $6,200 Annual Service Fees $216 $72 $300 $240 $340 Commissions on Revenue 5% 5% 15% 20% 20%% Total Yearly OPEX $216 150 $500 $400 $420 Meets CDFA Code to Sell $/kWh Yes No Yes No Yes Tracks Utility Energy Cost Yes No No No No
  • 11. Orange Creates ROI Where the Competition Fails Others talk about revenue, hiding they often lose the properties money. Orange promotes profits. Orange Charger Inc Copyright 2022 Example Orange Project Cost Analysis Level 2 Networked OCPP Service Provider Orange Outlet Number of EVSE Installed 10 10 20 CAPEX Installation $ (70,000) $ (70,000) $ (22,000) Yearly OPEX $ (3,000) $ (2,400) $ (1,440) 10 Year Total Cost $ (100,000) $ (94,000) $ (36,400) Total $ (73,000) $ (72,400) $ (23,440) Cost of Electricity to Driver ($/kWh) 0.39 0.39 0.39 Revenue From Chargers $ 14,040 $ 14,040 $ 28,080 Total Cost of Electricity $ (7,200) $ (7,200) $ (14,400) % Payed to Charging Provider $ (2,404) $ (2,106) $ (1,404) Total Yr Profit to Property $ 5,436 $ 4,734 $ 12,276 10 Year Profit Factoring in EV Adoption $ (70,102) $ (67,963) $ 31,118 Years to Break Even 33 36 5
  • 12. Orange Charger Inc Copyright 2022 Orange’s Business Model Orange’s business model is a hybrid of hardware sales, yearly SaaS fees, and a 5% of properties energy revenue. Orange's Revenue Unit Cost Number Units Totals Orange Outlets NEMA 620 (Cellular) $ 350 10 $ 3,500 Orange Care (5 Year Warranty) $ 75 10 $ 750 Yearly Network Revenue $ 240 10 $ 2,400 Yearly Revenue Energy Fee $ 157 10 $ 1,574 Total Yearly Revenue $ 8,224 Profit Margin On Sales 77% CAC $ 3,000 LTV For 5 Years $ 10,211 LTV:CAC Ratio 3
  • 13. Orange Charger Inc Copyright 2022 Orange’s Cash Flow for 10K Installations
  • 14. Apartment Complexes Need Orange B2B Sales All new construction is required to install EV charging for some percentage of parking. Orange is currently working with these firms to provide charging solutions for both new construction and retrofits. Orange Charger Inc Copyright 2022
  • 15. Orange’s Team Nicholas Johnson CEO Tesla thermal electrical engineer for Model 3 development. CTO and co-founder of LYT.ai Don MacNeil Head of Sales Previously sales at Tesla, Juice Bar, and Semaconnect. The experience needed to build a national charging business. Joseph Nagle Head of Corporate Strategy & Marketing 6 years corporate strategy at EverCharge, acquired by S&K. Neil Joseph Head of Operations CEO & founder of Stack Lighting, an IoT company acquired by Phillips. Tesla head of delivery for Model S. Volker Schönefeld Fullstack Software Engineer Serial entrepreneur with multiple highly successful mobile games. Orange Charger Inc Copyright 2022
  • 16. Industry Vested Advisors Martin Eberhard Original CEO of Tesla, developed original Tesla Roadster. Has created multiple successful battery companies. Marc Tarpenning Founded Tesla with Martin; director of software at Tesla. Currently a cleantech investor at Spero.vc. Sven Thesen Currently heading EV charging policy & advocacy for MFHs. Nobel Prize recipient for Climate research. Mike Harrigan Original VP of Sales at Tesla. Has decades of B2B sales experience in the battery and charging industries. Orange Charger Inc Copyright 2022 Jonathan Crowder Early stage investor in the EV charging and clean energy segments.
  • 17. Orange Charger Inc Copyright 2022 Raising $2M Expand partnerships with 4 large multi family property companies. Increase supply chain capabilities and increase inventory to reach 10k units sold. Grow sales team, expand engineering team, and hire customer support. Funds will go to scale the entire company to meet demand. 5k units deployed representing an ARR of $1.4M within 12 months.
  • 18. Orange Charger Inc Copyright 2021 Nicholas Johnson nicholas@orangecharger.com +1 (415) 302-5909 Thank You
  • 19. Orange Charger Inc Copyright 2021 Appendix
  • 20. Images of some of our Installs Installed across 24 properties and counting Orange Charger Inc Copyright 2022
  • 21. Orange Charger Inc Copyright 2022 Financial Projections Financials 2022 2023 2024 Booking $ 1.20 $ 8.75 $ 17.50 COGS $ 0.63 $ 4.59 $ 9.19 Gross Margin $ 0.70 $ 3.50 $ 7.00 Expense $ 3.20 $ 10.40 $ 20.00 Net $ (2.00) $ (1.65) $ (2.50) Headcount (FTE) 18 33 57 Cash at End of Period 2.2 4.8 8.2 GM% 58% 60% 60% Units Deployed (k) 3 18 26 MMR Goals (k) 120 250 400
  • 22. Orange Charger Inc Copyright 2022 Headcount (EOY) Projection Department 2022 2023 2024 Eng 3 12 24 G&A 1 4 12 Mktg 1 2 4 Ops 1 3 12 Sales 2 20 42 Total 8 41 94
  • 23. Sources 1. National multi-unit dwelling council 2. Consumer preferences for electric vehicle charging infrastructure 3. NTSHA 2017 Daily Drivers Survey 4. EV charging statistics 5. Electric vehicle charging infrastructure market worth $63.9 billion by 2025 6. The global EV charging infrastructure market is accounted at US$ 6.45 billion (2018) 7. Electric vehicles have lower fuel consumption than alternatives 8. New building codes support EV charging 9. EV charging blog - installations 10. PCE Incentives 11. PG&E Funding 12. New EV Charging Building Codes