CONFIDENTIAL — FOR QUALIFIED INVESTORS ONLY — JUNE 2026
JUNE 2026
CONFIDENTIAL INVESTMENT MEMORANDUM
Powering the future. One nano-coating at a time.
HYVEN Energy Malaysia is raising USD 120 million to establish a
1 GWh annual capacity advanced solid-state nano-coating factory in Malaysia.
Of the total, USD 100 million funds the energy storage line and USD 20 million is reserved for HYVEN Mobility Malaysia.
Production target: 2027
Managed by Porsche Consulting
TOTAL RAISE
USD 120M
30% equity to external investors
POST-MONEY VALUATION
USD 300M
Implied
BASE CASE PAYBACK (90% WATERFALL)
~2.3 YEARS
External investors until break-even
BASE CASE EBITDA MARGIN
66.3%
At steady-state 1 GWh
Why This Matters
Key Investment Highlights
Well-structured investment with strong downside protection via 90% cash flow waterfall + substantial multi-product and mobility upside.
CORE
Ultra-low cost energy storage
Material cost of only USD 23.7/kWh. Solid-state chemistry — safe, no lithium, no rare earths. Operating range −40°C to +120°C with up to 500,000 cycles.
Validated by TÜV Rheinland & SGS Germany
Multi-functional platform
Sequential print processes on the same lines deliver: energy storage + solar active skin + integrated cooling/heating + electrochromic light & shadowing — all in a single thin, flexible sandwich.
One production line. Five high-value functions.
Capital-efficient scaling
Additional capacity at USD 40 million per GWh. Significantly lower capex and operational complexity than conventional battery manufacturing. Any additional GW/GWh capacity can be ordered later.
~4.3× MOIC (base, w/ waterfall)
EXECUTION DE-RISKED
Porsche Consulting
Full factory planning, construction, equipment commissioning and ramp management for the initial 1 GWh line.
Mietech — Local Strategic Partner
Comprehensive support: factory setup, licensing, government relations, and ongoing consulting across Malaysia. 10% equity promote for execution success.
RECOMMENDATION
“A well-structured platform investment with strong downside protection through the 90% cash flow waterfall until break-even, and meaningful upside through multi-product capability, capital-efficient expansion at USD 40M per GWh, and the mobility call option.”
— Investment Memorandum, June 2026
THE PLATFORM
Printable solid-state nano-coating technology
All core functions are produced as an integrated sandwich feature set through sequential print processes on the same production lines. The Malaysia factory is designed with built-in flexibility for multi-product output and future capacity expansion.
Integrated thermal management capabilities. Enables high-value applications in buildings, vehicles and electronics where temperature control is critical.
Light & Shadowing
Electrochromic and dynamic lighting solutions. Dynamic tinting, signage and architectural integration possibilities.
Thin + flexible form factor ready
NO LITHIUM
NO RARE EARTHS
THIN & FLEXIBLE
NON-FLAMMABLE
Independently validated by TÜV Rheinland and SGS Germany
Embedded surfaces light for safety, melt ice, generate power for EV chargers — dramatically cutting highway operating costs.
Portable Solar Tents for Disaster Relief
Flexible tents with solar-battery-luminous coatings deliver off-grid power, climate control, and lighting when it matters most.
Aerospace Solar Wings
Coated wings capture and store solar energy, cool systems during flight, and extend mission endurance dramatically.
Agricultural Greenhouse Films
Transparent films power irrigation pumps, dynamically control temperature, and optimize year-round crop growth.
Wearable Energy Gear
Clothing and backpacks charge devices, actively heat or cool the user, and self-illuminate for safety and visibility.
Underwater Energy Harvesters
Buoyant ocean structures convert wave motion into usable power, store it, and light marine navigation aids.
Data Center Cooling Panels
Rack linings provide fanless cooling, store excess heat energy, and can slash data center energy usage by up to 50%.
Urban Furniture with Power
Smart benches and bus stops generate and store solar energy, charge phones, heat seats, and self-illuminate at night.
These multifunctional innovations are all produced on the same sequential-print production lines — unlocking multiple high-margin verticals from a single capital investment.
CAPITAL ALLOCATION
Use of Proceeds & Expansion Economics
100M
Factory Planning, Construction & Commissioning
1 GWh energy storage production line. The entire setup process is planned and managed by Porsche Consulting. Includes equipment, commissioning and initial ramp to 0.5 GWh in 2027.
20M
HYVEN Mobility Malaysia Reserve
Reserved for the setup of HYVEN Mobility Malaysia — the next vertical in the HYVEN portfolio (SpaceClaw-powered SpaceCab platform for Malaysian smart cities and sustainable mobility).
EXPANSION ECONOMICS
Additional capacity at USD 40 million per GWh.
Any additional GW/GWh capacity can be ordered later. This remains significantly more capital-efficient than traditional battery manufacturing and enables rapid, accretive scaling with built-in flexibility for multi-product output.
10-year tax holiday in Malaysia • Existing German operations de-risk scale-up
EXECUTION CREDIBILITY
World-class partners. Local execution strength.
Porsche Consulting
Factory Setup Lead
Porsche Consulting will lead all factory planning and setup activities — from site selection and construction through equipment procurement, installation, commissioning and production ramp. This dramatically reduces execution risk for a first-of-kind Malaysian facility.
Global leader in automotive & advanced manufacturing consulting
Mietech (Mr. Ahrens)
Local Strategic Partner • 10% Equity Promote
Mietech provides comprehensive local support for factory setup, regulatory licensing, government relations, and overall project consulting in Malaysia. This dual-layer structure (global excellence + deep local knowledge) significantly reduces project risk and accelerates timelines.
Success-based promote: 10% equity for de-risking and delivery
The structure is fair and aligned for all parties. Mietech’s 10% promote is entirely success-based for the substantial de-risking and execution support provided.
BATTERY BUSINESS ONLY
Financial Projections — Steady State
Projections below are based purely on the energy storage / battery business at 1 GWh annual output. Additional revenue from solar, thermal, lighting/shadowing functions and capacity expansions are not included in the model — representing significant upside.
Metric
Conservative (USD 75/kWh)
Base Case (USD 100/kWh)
Upside (USD 125/kWh)
Annual Revenue (1 GWh)
USD 75M
USD 100M
USD 125M
Variable Material Costs
USD 23.7M
USD 23.7M
USD 23.7M
Fixed Opex + Warranty (5% rev)
~USD 8.75M
~USD 10.0M
~USD 11.25M
EBITDA
USD 42.5M
USD 66.3M
USD 90.0M
EBITDA Margin
56.7%
66.3%
72.0%
Investor Cash Flow (30% pro-rata)
USD 12.75M / yr
USD 19.9M / yr
USD 27.0M / yr
Investor Payback (with 90% waterfall)
~3.5 years
~2.3 years
~1.7 years
10-Year MOIC (with waterfall)
~2.8×
~4.3×
~5.8×
Est. Investor IRR
40–55%
75–95%+
>100%
Key assumptions: Variable material cost USD 23.7/kWh • Fixed Malaysia opex USD 5M/yr • Warranty & risk provision 5% of revenue • 10-year tax holiday • 2027 = 0.5 GWh ramp-up year | 2028+ = 1 GWh steady-state.
INVESTOR PROTECTION: 90% CASH FLOW WATERFALL
90% of distributable cash flow goes to the External Investors (the 30% cash-paying group) until they have fully recovered their invested capital (break-even).
After the external investors reach break-even on their USD 120M, distributions switch to standard pro-rata (30% to external investors).
This structure delivers accelerated payback and strong downside protection for the cash investors while still aligning all parties long-term.
The “Investor Cash Flow (30%)” line in the table shows the pro-rata amount; the actual cash received by external investors during the waterfall period is 90% of distributable cash flow.
Example (base case): ~USD 59.7M/year (90% of 66.3M EBITDA) to external investors until the full USD 120M is recovered → modelled payback ~2.0 years (memo states ~2.3 years, incorporating ramp year and precise distributable cash assumptions).
The 90% cash flow waterfall to external investors until break-even delivers significantly faster payback and higher MOIC (~4.3x) than standard pro-rata. Battery-only model; multi-product and expansion upside not included.
STRATEGIC UPSIDE
Call option into HYVEN Mobility Malaysia
Every investor purchasing at least 10% of the shares in the current HYVEN Energy Malaysia round receives a call option to invest the same equity percentage in the upcoming HYVEN Mobility Malaysia project on equivalent (or better) terms.
Personal right. Non-transferable without consent.
HYVEN MOBILITY — SPACECAB POWERED BY SPACECLAW
The intelligent backbone for Malaysia’s Smart Cities & Sustainable Mobility
NATIONAL ALIGNMENT
13th Malaysia Plan • Low Carbon Mobility Blueprint • Visit Malaysia 2026 • Smart Nation 2040
UNIQUE TECHNOLOGY
Narrow 1.4 m omnidirectional hydrofoil-ready chassis + persistent multi-agent AI swarm (SpaceClaw) with on-device evolution and fleet mesh learning.
INVESTOR BENEFITS
— Right of First Refusal on fleet & infrastructure projects
— Opportunity for direct equity in operating companies
— Priority roadmap access & influence on pilots
Malaysia’s unique mix of dense cities, heritage zones, coastlines and islands is perfectly matched to SpaceCab’s capabilities. Energy investors receive a clear pathway into mobility at the same ownership level.
Porsche Consulting leading setup + Mietech providing comprehensive local support for factory setup, licensing, and government relations.
Technology scale-up
Operating German factory + independent third-party validation (TÜV Rheinland and SGS Germany).
Market adoption
Broad platform capability with competitive cost (USD 23.7/kWh) and safety advantages over conventional battery chemistries.
Additional revenue streams
Not required for base returns. Battery-only model already delivers attractive standalone economics.
VALUATION & FAIRNESS
The battery business alone supports a standalone NPV of approximately USD 270–280 million at an 18% WACC.
Combined with the multi-product sandwich platform capability, capital-efficient expansion at USD 40 million per GWh, existing German operations, and strong execution support from Porsche Consulting and Mietech, the USD 300 million post-money valuation is well-supported and fair for all parties.
CONCLUSION
This is a well-structured platform investment with strong downside protection through the 90% cash flow waterfall to external investors until break-even, and meaningful upside through multi-product capability, capital-efficient expansion (USD 40M/GWh), and the mobility call option.
WE RECOMMEND PROCEEDING WITH DUE DILIGENCE
SECURE INVESTOR PORTAL
Data Room & Tools
Unlocked for authenticated investors
CONFIDENTIAL DOCUMENTS
HYVEN Energy Malaysia — Full Investment Memorandum (PDF)
5 pages • June 2026
COMING SOON
Term Sheet & Subscription Documents
Draft for qualified investors
COMING SOON
Detailed Financial Model (Excel)
Base + sensitivity scenarios
COMING SOON
Full data room materials will be available shortly for authenticated investors.
INVESTOR RETURNS CALCULATOR
Base Case Steady-State Model (with 90% waterfall to external investors until 120M break-even)
Selling Price (USD per kWh)
100
Adjust to model conservative / base / upscale cases
Calculator uses ramp-adjusted model (2027 = 0.5 GWh). See note below for comparison to memorandum headline figures.
EBITDA
66.3M
PREFERENTIAL CF (90% WATERFALL)
59.7M /yr
PAYBACK (90% WATERFALL + ramp)
2.5yrs
Projected Margin: 66.3%
10-yr cash MOIC (modelled): 2.3×
Est. IRR range: 75–95%+
Model = ramp-adjusted operating cash flows only. Memo table shows headline figures (~2.3 yrs / ~4.3×) which embed specific distributable CF + terminal/exit assumptions at yr 10.
EXPANSION SIMULATOR
1.0
Incremental capex required
40.0M USD
Incremental annual EBITDA potential (base)
66.3M USD
Expansion cost is USD 40M per additional GWh (current pricing). Platform flexibility allows rapid deployment of additional revenue functions (solar, thermal, light/shadowing) on the same lines.
Ready to build Malaysia’s advanced energy platform?
We welcome qualified investors to engage in due diligence. Contact us to receive the full data room package and schedule a presentation with the team.