Merger with Fast Radius

July 19, 2021

[music].

Hello, everyone and thank you for participating in today's conference call to discuss the business combination between ECP environmental growth opportunities Corp, and fast radius.

Joining us today from ECP environmental growth opportunities Corp of dog, Kimmelman, Chairman and Tyler reader CEO from fast radius, we have Lou Raffi co founder and CEO, and Pat and Mccusker co founder and C. L O and interim CFO.

The awful joined by Alex Thompson Director with Gateway group for todays presentation, both ECP environmental growth opportunities Corp, and fast radius have made available and slide presentation, which can be found on their respective websites.

The presentation was also filed by ECP environmental growth opportunities Corp, with the U S Securities and Exchange Commission and can be found on the website at Www Dot S E C Dot Gov.

Today's call has been prerecorded and will not include a Q&A session. Before we go further I will turn the call over to Mr. Thompson. So he can read the safe Harbor statement within the meaning of the private Securities Litigation Reform Act of the 1995. The provides important cautions regarding forward looking statements.

We would first like to remind everyone that this call will contain certain forward looking statements, including but not limited to statements regarding ECP environmental growth opportunity corp's and fast radius of the expectations or predictions of future financial and business performance and condition competitive and India.

<unk> outlook, and the timing and completion of the business combination.

Inherently subject to risks uncertainties and assumptions and they are not guarantees of performance.

We encourage you to read the press release issued today, the accompanying presentation and ECP environmental growth opportunity Corp, 's filings with the SEC for a discussion of the risks that can affect the business combination.

The C P environmental growth opportunity corp's, and fast radiuses respective businesses and the outlook of the combined company. After the completion of the proposed business combination.

ECP environmental growth opportunities Corp, and fast radius of under no obligation and expressly disclaim any obligation to update alter otherwise the revise any forward looking statements whether as a result of new information future events or otherwise except as required by law.

This conference call is for informational purposes, only and will not constitute an offer to buy any securities or solicitation of any vote and any jurisdiction and pursuant to the proposed business combination or otherwise nor will there be any sale of securities and any jurisdiction and which the offer solicitation or sale would be unlawful prior to the <unk>.

Registration or qualification under the securities laws of any such jurisdiction.

I'd like to remind everyone that this call will be available for telephone replay starting later today.

A webcast will also be available via the link provided in today's press release as well as on fast Radiuses and ECP environmental growth opportunity Corp's website now.

Now I'd like to turn the call over to the chairman of ECP environmental growth opportunities Corp, Doug Kimmelman Doug.

Thank you Alex and good morning, everyone. My name is Doug Chemo, Len and I and the chairman of the ECP environmental growth opportunities Corp. R E and M. D for short I am pleased to be with you all to discuss our business combination with fast radius, which was announced earlier today.

The radius is the first of its kind of cloud manufacturing and digital supply chain company that exists to advance the manufacturing industry with an integrated digital and physical platform that simplifies the way the parts of our designed made and moved around the world.

The combined company will have an estimated post transaction equity value of $1.4 billion with $445 million and cash proceeds to the company before getting into the details of the strategic rationale of this transaction I'd like to provide an overview of who we are at ECP and why partnering with fast radius with the <unk>.

<unk> choice for us.

<unk> at the back part of by ECP, which was founded in 2005 and as an investor across the energy transition electrification and decarbonization infrastructure assets, including power generation renewables and storage solutions, environmental infrastructure and efficiency and reliability.

The assets at the firm I and others on the El N V team have managed about $22 billion of capital over the past 16 years across for private equity funds to credit vehicles of renewable funds and co investing vehicles, we are primarily a control of investor having executed nearly 6.

The transactions in the sectors.

Our team has deep experience of the public markets have been taken to companies private Calpine and energy solutions and we've taken 5 of our private portfolio companies public. Additionally, 2 of our directors have been public company Ceos, we are active and the capital markets as we raise around $2 billion per year of debt capital to <unk>.

Support our portfolio of companies in addition to our equity activities.

Our decision to form our first stack was done after much consideration. It was really based on 3 different ideas..1 we continue to see incredible opportunities and the areas, we have been investing and for the past 20 years electrification and sustainability.

We know that a lot of the companies. We look at don't have the type of capital they need most growth equity and.

Third we knew that with our firm's track record over the past 2 decades, especially and investments on sustainability, we could utilize our strong relationships reputation and rigorous diligence practices to invest behind the target company that is ready to tap the public markets and well positioned for rapid growth.

From this we then commenced of rigorous diligence process of evaluating many high quality businesses.

Throughout our evaluation process, we remain steadfast and our commitment to finding the business on par with our <unk> franchise, 1 that we have extremely high conviction for and 1 which possesses a leadership team with the talent and discipline to succeed.

After a long diligence process, we were fully confident and our decision to partner with fast radius. We.

We believe that the company provides a look into the future with manufacturing and the cloud and I, certainly believe that it scores well on sustainability and energy efficiency measures.

It's led by and entrepreneurial disciplined and experienced management team that we admire and.

We have full confidence needless to say, we're excited to work together to drive long term growth and value with that I'll now turn it over to Tyler the current and CEO of <unk> N V to tell us more about the opportunity Tyler.

Thanks, Doug I am excited to be with you all today and I will begin by providing more context around our decision to partner with fast radius.

Our team at ECP has been at the forefront of investing and electrification and sustainability.

Many disruptive businesses across the energy transition and North America.

As Doug said.

And it would be evaluated many different companies and after extensive due diligence fast radius for the obvious standout as such we are thrilled that in conjunction with eon and be partnering with fast radius. ECP is also investing and the pipe transaction.

Fast ratings provides us an incredible opportunity and the areas, we have been investing and for over 15 years electrification and and sustainability fast radius as 1 stop shop designed to their software enabled cloud manufacturing platform not only positions them and a large $350 billion plus the draft total addressable market for and it also has tremendous.

Sustainability benefits, specifically, it will reduce excess material waste that needs to be disposed of the optimized part design and modern manufacturing techniques and will reduce energy consumption through predict production efficiency from local on demand micro factories, as well as bringing manufacturing back to the U S, which has a less carbon intensive.

Profiled and Asia, finally, and will reduce transportation emissions through its local on demand and micro factory model. Overall, we think the past failure represents the future of sustainable manufacturing and we believe that the fast radius of the perfect thematic fit with our investment thesis.

Importantly, the is also an established and proven business, we set out to find the business for the commercially proven model the knee.

The capital to scale of its platform for significant growth and the past radius is exactly that fast radius has been very successful with high quality customers and a rapidly growing market with.

With the strong foundation fast radius already has great transact traction with many customers with whom there is a tremendous opportunity to grow organically and theres a strong pipeline for future customers and its assets. This is a company that solves problems for customers and ultimately our planet.

As we hear from Lou shortly.

They have many examples of successfully solving real world time sensitive problems for their customers and the strategic committed capital, including our forward purchase commitment from Goldman Sachs asset management, and additional pipe capital from UBS talents here and other institutional investors is just further validation of what fast radius is building and how excited of their customers.

<unk> and strategic partners are about where the company is headed for the significant capital being raised from this transaction vast range, we'll be able to rapidly scale up is already commercially proven platform and fully funded business plan to address the very large $350 billion plus addressable market across a wide variety of applications.

I want to come back to fast radius is fantastic leadership team before passing it over to Lou.

Doug and our entire team at ECP couldnt be more impressed with the vision passion and leadership of the fast radius team over the past several months, we have completed a deep private equity style of diligence on this opportunity and they have answered all of our hard questions and we fully believe this team is ready for the challenges ahead. They have assembled a highly qualified and <unk>.

Capable team of talent across the business and we're excited about the company's bright future with that I'll turn it over to Lee Rasey cofounder and CEO of fast radius Lou.

Thanks, Tyler and Hello, everyone and we were actually 1 of the for co founders and the CEO of fast radius.

Doug and Tyler did a great job.

Providing an overview of our combination and partnership with <unk> and then the work.

Credibly excited to be partnering together and and excited about.

What lies ahead to begin and I'll take a few minutes to discuss who we are it faster and guess, what we do and why we do it.

Faster and he is our purpose is to make new things possible to advance the state of the world, We believe and the importance of manufacturing as an industry not just for the things that it makes cars cellphones satellite.

And it makes possible manufacturer and can make the world more connected and more healthy more sustainable.

And as manufacturers, we feed and we power of the world with the things that we make.

And that's as important work and now and the digital age.

New tools to design, making products and ways that could that we could not have imagined even a decade ago.

By way of background for manufacturing and might be and Ams for generation manufacturer and grew up in Detroit and the family of manufacturing professionals. My grandfather started and the machine shop, and my dad still running today and making the precision parts for the auto industry.

And I was the Kid I worked there and I would do my homework and the drafting table every day after school and my Dad's office. This work inspired me.

Seeing the beauty and the importance of of being able to imagine something designed it and bring it to the world the help people.

The passion for manufacturing engineering and design has only grown over the years and our mechanical engineer by trade and the work that Chrysler and the joint venture with BMW launching of factory in Brazil for a couple of years and.

And I went on the graduate school of M. I T, where I studied and engineering and business and.

1 of the leaders for manufacturing silo.

After MIP I was the partner Mckinsey and was there for almost 12 years I helped to lead the global manufacturing practice.

What is now the digital manufacturing and the industry for point of service offerings at the firm.

And the part of that work and lot of global effort looking at the future of manufacturing and looking at where it is going and what it means for our companies and countries will compete in the century.

And that's through my work and Mackenzie that Matt.

And a couple of my co founders and we formed the thesis for what is now fast radius.

Our other 3 co founders and creep out mccusker, Who's our chief operating officer, and interim CFO. He's on the call and will be discussing our financials a little bit later.

Let me have chief scientist go King who was recognized around the world as a thought leader and digital manufacturing and design and he was also the founding CTO of the National Lab, and Chicago for digital design and manufacturing.

And we have John <unk>, our Chief manufacturing Officer, who.

And helped to build for the digital manufacturing practice all of that Mckinsey.

Of shared belief and the importance of manufacturing is in the industry.

Importance of improving and how we can design make and move things for the world is what drives the steadfast radius.

And that's our purpose to make these things possible to advance the state of the world.

With that is the heart of our company I will take the next few minutes to provide and executive summary of what we do and the customers we serve.

We built this company to bring manufacturing and supply chain into the digital age and are designing making and moving things from the physical world. We're a software company, but also make industrial grade parts.

And we use our software platform to cut across the manufacturing ecosystem from early stage.

Discovery through design, and then and to making and fulfilling products.

And then we make parts and our own micro factories as well as and the factories of our global network of trusted suppliers and I'll.

And I'll give you. Some example, shortly and if I could sum it up and a few phrases I'd say.

We believe that we are building a platform of software and factories that will empower people to design and make these things and new ways.

We see the future and which fast radius and cloud manufacturing will be as profound and the physical world of cloud computing has been and the digital world.

What we're setting out to do is build the first $100 billion cloud manufacturing and digital supply chain.

<unk>.

Really the first of its kind and the industry.

Yeah about 350 billion dollar addressable market today and.

And the market as being of reset by industry for point of all.

Okay.

At present, and we'd have a great track record with over 2000 customers and $11 million per.

Parts produced.

But we're focused on problem solving and.

And just getting started.

The biggest problem that we've identified as the manufacturing infrastructure and outdated.

Think about manufacturing today, it's Richard wasteful and leads to a very slow and inefficient product development processes and think of the recent trade are getting stock and the Suez Canal of this past spring and <unk>.

Terrible and painful to see that tower of supply chain work today.

We also have the centralized mega factories that make park and far corners of the world.

And those factories will only talk to you if you need 10 million parts and those parts of halfway around the world and when they finally arrived at the run destinations and they were put on shelves and sit there for long periods of time, leading to the trillions of dollars of waste of inventory.

For the infrastructure that is broken and the industry today, the universal global problem.

Fixing it.

The solution, we've built as our cloud manufacturing platform.

The term of pump manufacturing analogous to cloud computing, both employ internet connected facilities, where users access shared physical resources, you software to orchestrate those resources and build the applications not having to invest and <unk>.

Complex costly infrastructure themselves.

The cloud computing use of data centers.

And quite manufacturing Leverages factories.

And fast radius, we offer design manufacturing and performance services and the Internet.

Our platform is similar to cloud computing, but for the physical world, our infrastructure and crude the software operating system, and physical factories, and and application and services layer.

We have the.

The number of applications today are powered by <unk>.

The cloud platform.

And many more to come.

Isn't elastic benefit with the cloud platform and.

The on demand experiences what we've come to expect that so many aspects of our lives, whether it's shopping financial services and media.

But that experience hasn't come in and manufacturing at scale yet.

And he's not the kind of scale of its necessary.

That's what we're building.

We want to make it as easy for engineers to design and manufacture parts of it is true for you to order delivery.

Consumer of your home.

Here's a recent example of medical device company was looking to scale up.

The device to support and the pandemic response and their existing supplier in Asia for them, they could not make the parts and if they could and couldn't ship them for the U S.

Fortunately the company, who previously worked with faster and you are.

Cloud platform evaluated the devices.

Part of and we were able to manufacture.

And then.

Using 1 of the additive manufacturing technology, and and 1 of our micro factories.

We were able to manufacture of 2000 parts and the industrial grade medical certified level and a matter of weeks out of the month copper worse.

Our cloud manufacturing platform allows us to solve problems for our customers.

And help them drive impact.

And the world.

And their customers.

That's what we're driving at best for you.

Further what's exciting about our cloud and manufacturing platform as it has relevance across every major vertical and the market. We served over 2000 customers across the industrial Tech consumer aerospace automotive and medical you name it.

We have customers and those verticals that are embracing the benefits of the cloud.

And I'm not just serving the fortune 500, but we're also serving the early stage startups that are looking for flexible modern ways for brick products and the supply chains of the world.

Our diverse and broad customers.

And as of the market we're entering.

And is incredibly compelling and filled with opportunity.

Before I provide a few more examples of how we're working with customers and I'd like to dive deeper into how the cloud manufacturing platform works the.

Tech stack has 4 components.

The first is the infrastructure of our factories and our network of suppliers that can make a product.

The second layer is the.

Digital thread and learning engine digital thread because that is the DNA of how every part is made.

We can gather data at each step of the customer journey and every step of the factory.

Or suffer captures that data.

So we can analyze it overtime.

It gets smarter the more parts of that we make.

This also helps ensure that part remake can be made.

By any 1 of our micro factories consistently and repeatedly overtime and industrial grade level.

On top of the learning engine and the digital thread of our operating system.

This is the software and the orchestration and the end customer experience as well as our internal.

The flow and operations.

And then on top of that is the fourth player our application and services layer.

The application and services, we're providing.

Cover the and then the experience of our customers journey from discovery of new technologies, and figuring out the right way to design something to make it and ultimately fulfill it.

Across that journey, while there are many people and our customers that need to be involved design engineers and quality professional supply chain professionals and.

And we want the information.

And to flow across all of those people.

When they need it.

Through the journey.

Our platform creates a digital space and that information can be shared and where people can collaborate.

From the team that first true up part of discoveries of new technologies that might help them and the production team.

Purchasing representative everyone can be engaged and the process and.

Modern digital driven way.

The customer representatives and each of those steps.

Shifts and evolves, but they still need to be connected and engaged that sort of digital platform like ours and the.

The possible.

Today, we have 3 services running on the platform and our roadmap of many more of that at various stages of development.

And that are a part of the patent strategy of pursuing.

And 3 services or applications on the.

Platform today are.

Australia is on demand and.

And application, which allows our customers to upload their designs and received and sites.

And then its and <unk>.

The orders for parts to be and 8 of.

Which can be done and a matter of days.

Next is our.

Our additive launch out of this allows us to help companies.

The launch products and the market that are uniquely enabled by additive manufacturing.

Third is the virtual warehouse at all.

And which allows for the customers to store certified production parts and the cloud and.

And then as they need those parts of it can order them and we can produce them.

Just in time.

Overall, each of these apps and <unk>.

Services types of cross sell the end to end lifecycle for our customers.

Now I'll go through each of the 3 of them and providing a quick case study for each.

For the first case study and I'd like to discuss the on demand out of.

The motorcycle manufacturer of Curtis I became and on demand customer when they either of the machine the part quickly.

They were and early stage development and that could help Curtis scale and produce 1 part and are certified.

Factory.

Proved our value and now we're making over 225 different products.

The electric motorcycles across 8 different manufacturing technology.

The on demand and that makes manufacturer and easy and accessible for Curtis as they upload the part black of material and technology and in order of the number of parts they need and.

Simple checkout process and it can scale not just from prototypes of what scale into production volumes.

Our second case study is for our additive launch out of this app is for a customer that wants to embrace of additive manufacturing and launch of new product and market and scale of the example here is of apter the tier 1 automotive supplier and we're working with forward to bring the low volume variant of the truck market. They needed the testing different options for the complex electrical connector, it'll creating and what's going to be costly for them the true up.

And with injection molding. So after the decided to work with us the validated that we could reliably and repeatedly produce the connector and now it's stored in the cloud and they can order when they want it. It's a great example of us commercially scaling of product and the thousands of these parts of were able to validate the repeatability of our infrastructure and also the reliability since each part and must meet.

And the automotive quality standards, what sort.

Really interesting areas and how companies like active.

Have scaled with us a flywheel that is growing with so many of our customers and.

For example.

We have here.

Started with 1 of our customers with with 1 part 1 OEM platform.

And it scaled over the following 12 months.

216 different engineers and 26 different part.

With the <unk> revenue growth.

That we have seen the.

The flywheel that we've experienced with so many of our customers that realize we can provide through the cloud manufacturing platform easier better ways of Dizzy.

And I knew making and scaling parts.

Overall, we have many customers benefitting from our streamlined cloud platform and our software is getting smarter every part that we make.

Sure of the third day study I would like to discuss the virtual warehouse app and virtual warehouses, the idea of store and part of digitally instead of physically our case study here relates to Airbus Airbus came to US a couple of years ago, and said look we're tired of storing tools or waiting for months and we need to get a new tool made of repair and aircrafts.

Great of virtual warehouse, the Guy who certified parts that are used to repair the plane. It used to take the many weeks and now we can get them the parts they need and just a matter of days.

The creative tool for Airbus, we used out of their manufacturing and and machining and other methods.

And the bill package with us, which simply means that the stores are certified parts virtually and has gone through the process to certify each part we make for them for not just starting the CAD file, but we are storing all of the information about how to make the part and the data from when the parts are actually made because of all part of the build package and.

The customer has it been packaged and store and that digitally and the cloud when they need it and they can.

Call on it and.

And to work and this is the huge growth opportunity for us and for the industry everything that we make and certified including the parts of the like for <unk>.

And you're on the day of the App and go on the ritual warehouse basically of growing our library of product.

So we're of acquired manufacturing take us as we mentioned the inefficiency and growth supply chain of today is significant the infrastructure, we're creating here at fast radius of 1 that's flexible sustainable and acceptable instead of centralized mega factories, we of local micro factories that can produce just the time also to continue to make our parts of our software is getting smarter.

<unk> be able to make recommendations and provide insights into the designing ordering and fulfilling experience.

Sites, we gained from our software as a large part of how we differentiate ourselves.

And I've mentioned and our micro factory the few times and we think of micro factors, you think of them like a factory and a box for.

<unk>.

Very inside of the chairman of the size of the basketball court and are designed to be copy and paste and the locations around the world. Our factories have been recognized by the World Economic Forum and.

1 of the most advanced factories and the world implementing industry for point of what scale of lighthouse and they call. It alongside of the likes of J&J Bosch, Siemens and other big Industrial heavyweight.

Micro factory network expands around the world. We believe the ship parts of the digitally at the speed of light producing things, where the need it dramatically, reducing waste and improving access and you see locally for what the needs locally at the new supply chain and paradigm and combines the virtual warehouse freedom stores things physically restore them in the cloud and it.

And also changes logistics and transportation, that's why EPS is a partner.

And it's the reason theyre, adding to their.

1 of your investments and fast radius and participating in our pipe now with the $10 million commitment.

See our vision of the new mode of transportation and the fourth modality and logistics.

Our pilot micro factory was made and we've only of the EPS North American hub of.

And the factories to the palm of printing technology and it was designed so that we can produce part late in the evening and put the parts on the EPS.

Planar track to get them, where they are needed for high velocity for summer.

Overall, we're not suggesting the cloud manufacturing is going to replace all traditionally sourced and delivered parts and it is going to materially change them and we're excited to be of part of that change for.

And for passing off the Pat I want to tie.

And all of us back of hardware and the call today.

I wanted to.

Expand on our excitement and the rationale for partnering with the NMB.

Importantly, this transaction provides us 445 million and cash kind of growth and partnering with Doug Tyler and the entire year in and.

And the team.

Further strengthen our efforts to unlock value across the industrial landscape and of.

It puts the clear path to scale and drive.

Shareholder returns.

We're confident that with our board and management team.

We have <unk>.

And the necessary.

The steps to position and fast radius for the future.

And we look forward to getting to work and achieving our goals.

Other as 1 company.

Now over to Pat.

Talk to you of our financials.

Thanks, Lew and Pat Mccusker, co founder and COO and interim CFO at fast radius to jump right and we have grown at nearly a 100% compound annual growth rate and the past for years and expect to continue our healthy growth trajectory going forward projecting approximately $25 million in revenue and 2021 and over $100 million and <unk>.

And 2022, we have high conviction and these projections based on our existing backlog strong customer pipeline and the sales and marketing motion that is proven and working.

The net proceeds raised from this transaction will be deployed and high return investments across customer acquisition software development and micro factory expansion. We expect these investments to yield attractive growth and EBITDA in the coming years and are targeting revenue of over $600 million and EBITDA of $135 million and 2025.

This growth will be driven by our existing customer expansion and of sales and marketing engine that is proven and working we have 3 primary customer acquisition channels each of which has shown to yield a customer lifetime value to customer acquisition cost ratio, our <unk> to CAC ratio of 5 to 8 X or more of these primary average acquisition channels our digi.

Marketing inside sales and business development.

On digital marketing, we have both a modern digital marketing tech stack, which allows us to surgically target late funnel high value prospects and a measurable scalable way or.

Our inside sales channel is similarly, scalable with a technology based platform, which allows us to train manage and coach our inside sales professionals to improve their prospecting and yield.

And finally, we have many customers who ended up themselves represent an addressable market measured in the hundreds of millions of dollars or more for these customers. We are investing and a higher touch business development motion, often dedicating a meaningful portion of and engineer and sales professionals time to onboard and and expand these customers within our cloud manufacturing platform.

And each of these channels, we have demonstrated an ability to acquire new customers and a cost efficient scalable way and these investments are creating real enterprise value as we compare the customer acquisition cost to what we're seeing across the average customer revenue production gross margins customer retention rates and account expansion.

In addition to this attractive customer acquisition model, we see a strong return profile on the investments, we're making and our micro factories and new micro factory requires about 3 and $5 million and capex on average across equipment and infrastructure at steady state the fields of $4 million EBIT contribution, which works out to approximately an 18 month payback period and and 85% for.

5 year IRR contribution.

And when we combine these 2 unit economic engines of customer acquisition and micro factory investments complemented by the software platform, where scaling we believe our plan will yield attractive returns with breakeven EBITDA in 2023, and strong free cash flows and 2025 and beyond.

And that's all for our financials and then I'll pass it back the Tyler for final remarks about the transaction Tyler.

Thanks, Pat the.

The combined company and will have an estimated post transaction enterprise value of $995 million with an estimated equity value of $1.4 billion from the contribution of up to $445 million and cash proceeds from the transaction.

Proceeds will consist of up to $345 million of cash held in <unk> Trust account and an additional 100 million fully committed private investment led by a strong group of strategic and and institutional investors, including Goldman Sachs asset management, EPS and <unk>. The net proceeds raised from the transaction will be used to support faster.

Radius is continued growth across customer acquisition and software development and micro factory expansion.

The <unk> growth strategy is expected to generate revenue and EBITDA of $635 million and $135 million, respectively and 2025.

Current fast radius management employees and existing shareholders overall, 100% of their existing equity holdings and the equity of the combined fast radius the.

The business combination has been unanimous nationally for approved by the board of directors of both fast radius and <unk>. The business combination of expected to close in Q4, 2021 subject for regulatory and stockholder approvals and other customary closing conditions. Upon the closing of the transaction <unk> will be re.

Named fast radius, Inc. And is expected to remain listed on the NASDAQ.

In summary of the NMB and fast radius teams are incredibly excited about this combination we believe fast radius of the right team and model to disrupt the manufacturing industry and we look forward to working through this process together and emerging as a publicly traded fast radius positioned for significant growth and value creation. We appreciate your time and attention today.

Thank you for joining us.

This concludes today's conference call. Thank you for participating you may now disconnect.

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And <unk>.

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During the fourth.

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Hello, everyone and thank you for participating in today's conference call to discuss the business combination between E. C. P environmental growth opportunities Corp, and fast radius.

Joining us today from ECP environmental growth opportunities Corp of dog Kimono, Chairman and Tyler reader CEO for.

From fast radius, we have Lou Rafi co founder and CEO and patented Custer co founder and C O O and interim CFO we.

We are also joined by Alex Thomson Director with the Gateway group for todays presentation, both ECP environmental growth opportunities Corp, and fast way to guests have made available a slide presentation, which can be found on their respective websites. The.

The presentation was also filed by ECP environmental growth opportunities Corp, with the U S Securities and Exchange Commission and can be found on its website at www Dot S E C Dot Gov.

Today's call has been prerecorded and will not include a Q&A session. Before we go further I will turn the call over to Mr. Thompson.

So he can read the safe Harbor statement within the meaning of the private Securities Litigation Reform Act of the 1995. The provides important cautions regarding forward looking statements.

Free outlook, and the timing and completion of the business combination.

Inherently subject to risks uncertainties and assumptions and they are not guarantees of performance.

And environmental growth opportunity of course, and fast radiuses respective businesses and the outlook of the combined company. After the completion of the proposed business combination.

D C P environmental growth opportunities Corp, and fast radius are under no obligation and expressly disclaim any obligation to update alter otherwise the revise any forward looking statements whether as a result of new information future events or otherwise except as required by law.

Registration or qualification under the securities laws of any such jurisdiction.

I'd like to remind everyone that this call will be available for telephone replay starting later today.

A webcast will also be available via the link provided in today's press release as well as on past Radiuses and ECP environmental growth opportunity Corp's web sites.

All of that in turn the call over to the chairman of the ECP environmental growth opportunities Corp, Doug Kimmelman Doug.

Thank you Alex and good morning, everyone. My name is Doug Chemo Len and I am the chairman of ECP environmental growth opportunities Corp, or <unk> for short I am pleased to be with you all to discuss our business combination with fast radius, which was announced earlier today.

And that's radius is the first of its kind of cloud manufacturing and digital supply chain company that exists to advance the manufacturing industry with an integrated digital and physical platform that simplifies the way. The parts are designed made and moved around the world.

The combined company will have an estimated post transaction and equity value of $1.4 billion with $445 million and cash proceeds to the company before getting into the details of the strategic rationale of this transaction I'd like to provide an overview of who we are at ECP and why partnering with fast radius was the <unk>.

Of this choice for us.

And Andy at the Spak borrowed by ECP, which was founded in 2005 and as an investor across the energy transition electrification and decarbonization infrastructure assets, including power generation renewables and storage solutions, environmental infrastructure and efficiency and reliability.

The assets at the firm I and others on the El N V team have managed about $22 billion of capital over the past 16 years across for private equity funds to credit vehicles are renewable funds and co investing vehicles were primarily of control investor having executed nearly 6.

Transactions and the sectors.

Support our portfolio of companies in addition to our equity activities.

Our decision to form our first the stack was done after much consideration. It was really based on 3 different ideas..1 we continue to see incredible opportunities and the areas, we have been investing and for the past 20 years electrification and sustainability.

We know that a lot of the companies will look at don't have the type of capital they need most growth equity.

And third we knew that with our firm's track record over the past 2 decades, especially and investments on the sustainability, we could utilize our strong relationships reputation and rigorous diligence practices to invest behind the target company that is ready to tap the public markets and well positioned for rapid growth.

From this we then commenced a rigorous diligence process of evaluating many high quality businesses.

We're out of our evaluation process, we remain steadfast and our commitment to finding the business on par with our <unk> franchise, 1 that we have extremely high conviction for and 1 which possesses a leadership team with the talent and discipline to succeed.

After a long diligence process, we were fully confident and our decision to partner with fast radius. We believe that the company provides a look into the future with manufacturing and the cloud and I certainly believe that it scores well on sustainability and energy efficiency measures.

Led by and entrepreneurial disciplined and experienced management team that we admire and which we have full confidence needless to say, we're excited to work together to drive long term growth and value with that I'll now turn it over to Tyler the current CEO of E. N N V to tell us more about the opportunity.

Miller.

Thanks, Doug I am excited to be with you all today and I will begin by providing more context around our decision to partner with fast radius.

Our team at ECP has been at the forefront of investing and electrification and sustainability and putting many disruptive businesses across the energy transition and North America as.

And as Doug said.

Yeah, and it would be evaluated many different companies and after extensive due diligence fast radius was the obvious standout as such we are thrilled that in conjunction with eon and be partnering with fast radius. ECP is also investing and the pipe transaction faster.

<unk> provides us an incredible opportunity and the areas, we have been investing and for over 15 years electrification and and sustainability fast radius as 1 stop shop designed to their software enabled cloud manufacturing platform not only positions and a large 350 billion plus the debt total addressable market and it also has tremendous.

Sustainability benefits, specifically, it will reduce excess material waste the needs to be disposed of the optimized part design and modern manufacturing techniques and will reduce energy consumption through predict production efficiency from local on demand micro factories, as well as bringing manufacturing back to the U S, which has a less carbon intensive.

Profiled and Asia, finally, and will reduce transportation emissions through its local on demand and micro factory model overall, we think that pathway as it represents the future of sustainable manufacturing and we believe that the fast radius the perfect thematic fit with our investment thesis.

Importantly, this is also and established and proven business, we set out to find the business for the commercially proven model the needed capital the scale of its platform for significant growth and fast radius is exactly that fast radius has been very successful with high quality customers and a rapidly growing market.

With the strong foundation fast radius already has great transact traction with many customers with whom there is tremendous opportunity to grow organically and theres, a strong pipeline for future customers and its assets. This is a company that solves problems for customers and ultimately our planet.

As we hear from Lou shortly.

They have many examples of successfully solving real world time sensitive problems for their customers and the strategic committed capital, including our forward purchase commitment from Goldman Sachs asset management, and additional pipe capital from UBS talent here and other institutional investors is just further validation of what fast radius is building and how excited of their customers.

I want to come back to the fast radius is fantastic leadership team before passing it over to Lou.

Assemble the highest highly qualified and capable team of talent across the business and we're excited about the companys bright future with that I'll turn it over to <unk> co founder and CEO of fast radius low.

Thanks, Tyler and Hello, everyone and we were asking for 1 of the for co founders and the CEO of fast radius.

Doug and Tyler did a great job.

Providing an overview of our combination and partnership with E and and the we're incredibly.

And we excited to be partnering together and and excited about what lies ahead to begin and I'll take a few minutes to discuss who we are at fast radius, what we do and why we do it.

At faster and he is our purpose is to make new things possible to advance the state of the world.

We believe and the importance of manufacturing as an industry not just for the things that it makes cars cellphones satellite the things that makes possible.

The factor and can make the world more connected and more healthy more sustainable.

And as manufacturers, we speed and and we power of the world with the things that we make.

This is important work and now and the digital age you have new tools to design and make new products and ways that could that we could not have imagined even a decade ago.

By way of background for manufacturing is in my DNA and third generation manufacturer and grew up in Detroit and the fan.

And manufacturing professionals and my grandfather started and the machine shop, and that's still running today and making precision parts for the auto industry.

And as a Kid I worked there and I would do my homework and drastic and table every day after school and my Dad's office. This work inspired me seeing the beauty and the importance of of being able to imagine something designed it and bring it to the world the help people.

And my passion for manufacturing engineering, and design has only grown over the years and our mechanical engineer by trade and the work the Chrysler and the joint venture with BMW launching of factor in Brazil for a couple of years.

And I went on the graduate school without my T, where I studied and engineering and business and 1 of the.

And we just for manufacturing flow.

After M. I T. I was the partner Mckinsey and was there for almost 12 years I hope to leave the global manufacturing practice and what is.

Is now the digital manufacturing and industry for point of service offerings of the firm.

Part of that work that a lot of global effort and the future of manufacturing.

Looking at where it is going and what it means for our companies and countries will compete in the century, it's through my work and Mackenzie that I met and a couple of my co founders and we formed the thesis for what is now fast radius.

Our other true co founders and crude Pat Mccusker, Who's our chief operating officer, and interim CFO and he's on the call and will be discussing our financials a little bit later.

For me, how chief scientist still King who is recognized around the world is the thought leader and digital manufacturing and design and he was also the founding CTO of the National Labs, and Chicago for digital design and manufacturing.

And we have John <unk>, our Chief manufacturing Officer, who.

Helped to build the digital manufacturing practice all of that Mckinsey.

Of shared belief and the importance of manufacturing and as an industry.

And the importance of improving how we can design make and move things for the world is what drives the steadfast radius.

And that's our purpose and make these things possible to advance the state of the world.

With that is the heart of our company I'll take the next few minutes to provide and executive summary of what we do and the customers we serve.

We built this company to bring manufacturing and supply chain into the digital age or designing making and moving things for the physical world. We're a software company, but also make industrial grade parts.

We use our software platform that cut across the manufacturing ecosystem from early stage discovery through design, and then and to making and fulfilling products.

And then we make parts and our own micro factory as well as and the factories of our global network of trusted suppliers and I'll give you. Some example, shortly and if I could from an up and a few phrases.

So we believe that we are building a platform of software and factories that will empower people to design and make these things and new ways.

We see of future and which fast radius and cloud manufacturing will be as profound and the physical world of cloud computing has been and the digital world.

What we're setting out to do is build the first $100 billion cloud manufacturing and digital supply chain company.

Really the first of its kind and the industry.

Yeah about $350 billion addressable market today.

And the market as being of reset by industry for point of all.

Okay.

At present, and we have a great track record with over 2000 customers and $11 million parts produced.

But we're focused on problem solving and.

And we are just getting started.

The biggest problem that we've identified as the manufacturing infrastructure is outdated.

Think about manufacturer and today, it's Richard wasteful and leads to a very slow and inefficient product development processes and think of the recent freighter getting stock and the Suez Canal of this past spring and <unk>.

Terrible and painful to see that's how supply chains work today.

We also have the centralized mega factories that make park and far corners of the world.

And those factories will only talk to you and 10 million of parts that and those parts of halfway around the world and when they finally arrived at the end destination, they're put on shelves and sit there for long periods of time, leading to the trillions of dollars of wasted inventory.

And so the infrastructure that is broken and the industry today, the universal global problem.

Fixing it.

The solution, we've built as our cloud manufacturing platform.

The term of pump manufacturer and analogous to cloud computing, most employee internet connected facilities, where users access shared physical resources, you software to orchestrate those resources and build the applications without having to invest and <unk>.

Complex costly infrastructure themselves.

All of cloud computing and use of data centers.

And quite manufacturing Leverages factories.

And fast radius, we offer design manufacturing and procurement services and the Internet.

And our platform is similar to the cloud computing, but for the physical world, our infrastructure and crude the software operating system, and physical factories, and and application and services layer.

We have a number of applications today are powered by the.

And the cloud platform.

And many more to come.

Theres, an elastic benefit with the cloud platform and.

And demand experiences what we've come to expect that so many aspects of our lives, whether it's sharp and financial services and media.

But that experience hasnt come in and manufacturing at scale yet.

And he's not the kind of scale of its necessary.

That's what we're building.

We want to make it as easy for engineers to design and manufacture parts of it is true for you to order delivery.

Consumer of your home.

Here's the recent example of medical device company and was looking to scale up.

Uh huh device to support and the pandemic response and their existing supplier and Asia pull then they could not make the parts and even if they could and couldn't ship them for the U S.

Fortunately This company had previously worked with the Australia.

Our cloud platform of evaluated the devices.

And we were able to manufacture.

Yeah.

Using 1 of the additive manufacturing technologies, and and 1 of our micro factories.

We were able to the manufacture of 2000 parts and the industrial grade medical certified level and the matter of weeks out of the month kind of a worst.

Our cloud and manufacturing platform allows us to solve problems for our customers.

And.

Help them drive impact.

And the world for there.

Other customers.

And that's what we're driving at best for you.

Further what's exciting about our cloud and manufacturing platform as it has relevance across every major vertical and the market is served over 2000 customers across industrial and packaged humor aerospace automotive and medical you name it.

And have customers and those verticals that are embracing the benefits of the cloud.

And I'm not just serving the fortune 500, but we're also serving the early stage startups that are looking for flexible modern ways, great products and the supply chains of the world.

Our diverse and broad customers size of the market we're entering.

And is incredibly compelling and filled with opportunity.

Before I provide a few more examples of how we're working with customers that I'd like to dive deeper into how the cloud manufacturing platform works.

And the Tech stack has 4 components.

The first is the infrastructure of our factories and the network of suppliers that can make a product.

The second layer is.

Digital thread and learning engine digital thread because that is the DNA of how every part is made.

And gathered data at each step of the customer journey every step and the factories.

Or suffer captures that data.

So we can analyze it overtime.

Smarter the more parts of that we make.

This also helps ensure that part remake can be made.

By any 1 of our micro factories.

Distantly and repeatedly overtime and industrial grade levels.

On top of the learning engine and the digital thread of our operating system.

This is the software and the orchestrates the them and the and customer experience as well as our internal work flow and operations.

And then on top of that is the fourth player.

The application and services layer.

The application and services, we're providing.

Cover the and then the experience of our customers journey from discovery of new technologies, and figuring out the right way to design something to make it and ultimately fulfill it.

Across that journey are there are many people are customers that need to be involved the fine engineers quality professionals and supply chain professionals and.

And we want the information.

And to flow.

Across all of those people.

When they need it through.

True the journey.

Our platform creates a digital space and that information can be shared and where people can collaborate.

From the team that first true up part discoveries of new technologies that might help them because of the production team.

Purchasing representative everyone can be engaged and the process kind of.

Modern digital driven way.

The customer representative and each of those steps.

Shifting of balls, but they still need to be connected and engaged that's where the digital platform like ours and.

And make possible.

Today, we have 3 services running on the platform and our roadmap of them anymore.

Stages of development.

And that are a part of the patent strategy of pursuing.

Our 3 services of applications on the platform today are fast radius on demand and.

The application, which allows our customers to upload their designs receipt and sites.

And then it's an and.

Placed their orders for parts of the the name of.

Which can be done and a matter of days.

Next is our.

Our additive launch out of this allows us to help companies.

Launch products and the market that are uniquely enabled by additive manufacturing.

Third is the virtual warehouse at all of.

Which allows for the customers to store certified production parts and the cloud and then as they need those parts of they can order them and he can produce then.

Just in time.

For all each of these apps and.

And services types of cross sell and the and lifecycle for our customers.

Now I'll go through each of the 3 of them and providing them quick case study for each.

For the first case study and I'd like to discuss the on demand App.

The motorcycle manufacturer the Curtis I became and on demand customer when they either of the machine the part quickly.

And early stage development and that could help Curtis scale and produce when part and our certified.

Factory.

And proved our value and now we're making over 225 different products.

And their electric motorcycles across 8 different manufacturing technologies.

And the on demand and that makes manufacturer and easy and accessible for Curtis as they upload the part black of material and technology, and then order the number of parts they need and.

Simple checkout process and it can scale not just from prototypes of scale into production volumes.

The second case studies for our additive launch out of this app is for a customer that wants to embrace of additive manufacturing and launch of new product and marketing scale and the example here is adaptive and tier 1 automotive supplier and we're working with forward of but in the low volume variant of the truck market. They needed the testing different options for the complex electrical connector, it'll creating and what's going to be costly for them the tool up.

And with injection molding. So after the decided to work with us the validated that we can reliably and repeatedly produce the connector and now it's stored in the cloud and they can order when they want it and it's a great example of us commercially scaling of product and the thousands of these parts of the we're able to validate the repeatability of our infrastructure and also the reliability since each part and whats neat.

And the automotive quality standards, what sort.

Really interesting areas and how companies like active.

Have scaled without a flywheel that has grown with so many of our customers and example.

We have here and it started with 1 of our customers with with 1 part 1 OEM platform.

And it scaled over the following 12 months.

216 different engineers and 26 different part.

With the <unk> revenue growth.

And that we have seen.

This is the flywheel that we've experienced with so many of our customers that realize we can provide through the cloud manufacturing platform easier and better ways of there.

And making and scaling parts.

Overall, we have many customers benefitting from our streamline and cloud platform and our software is getting smarter every part that we make.

Share with your third day study I would like to discuss the virtual warehouse at the virtual warehouses the idea of store and part of digitally instead of physically our case study here relates to Airbus Airbus came to us of couple of years ago, and said look we're tired of storing tools or waiting for months and we need to get a new tool made of repair and aircrafts, let's create a virtual warehouse the guy who certified parts, but are you.

Used to repair of planes it used to take the many weeks and <unk>.

Now, we can get them the parts they need and just a matter of days.

And create these tools for Airbus, we used out of the manufacturing and and the machining and other methods.

And of Bill package with us, which simply means that we store and are certified parts virtually and have gone through the process to certify each part we make for them and not just during the CAD file, but we are storing all of the information about how to make the part and the data from when the parts are actually made because of all.

Part of the build package once the customer has to build package and everything for that digitally and the cloud when they need it and they can.

Call on it and.

We get to work and this is a huge growth opportunity for us and for the industry everything that we make and certified including the parts of the like for <unk>.

Customers and the underpinning of the App and go into virtual warehouse basically of growing our library of product.

So where the acquired manufacturing take us as we mentioned the inefficiency and growth supply chain of today is significant and the infrastructure, we're creating here at fast radius of 1 that's flexible sustainable and acceptable instead of centralized mega factories, we of local micro factories that can produce just in time also the continued to make our parts of our software is getting smarter for increasingly able to make.

Recommendations and provide insights into the designing ordering and fulfilling experience.

Insights we gained from our software as a large part of how we differentiate yourself I've mentioned and micro factors of few times and we think of micro factors you think of them like a factory in the box.

Factories.

Very inside of the chairman of the size of the basketball Court and.

And are designed to be copy and paste and the locations around the world. Our factories have been recognized by the World Economic Forum is and 1 of the most advanced factories and the world and implementing industry for point of what scale of lighthouse and they call. It alongside of the likes of J&J Bosch Siemens other big.

The industrial heavyweight.

The micro factory network expands around the world. We believe the ship parts of digitally at the speed of light producing things, where they need it dramatically reducing waste improving access and you see locally for what the needs locally for the supply chain and paradigm and <unk>.

And the virtual warehouse freedoms force things physically restore them and the cloud and it also changes logistics and transportation. That's why EPS is a partner.

And it's the reason, they're adding to the there.

1 of your investments and fast radius and participating in our pipe now with the 10 million dollar commitment.

And they see our vision of the new mode of transportation and the unfortunate reality of logistics.

Our pilot micro factory was made and Louisville near of the EPS North American hub and.

And the factory through the Parliament of printing technology and it was done.

And so that we can produce parts of late in the evening and put some parts on the EPS.

And they're trying to get them, where they are needed for high velocity for summer.

Overall, we're not suggesting the cloud manufacturing is going to replace all traditionally sourced and delivered parts and it is growing and materially change them and we're excited to be of part of that change for.

For passing off the Pat I want to tie.

All of us back of hardware on the call today.

I wanted to.

Expand on the our excitement and the rationale for partnering with the NMB.

Importantly, this transaction provides us 445 billion and cash kind of Brooks and.

Partnering with Doug Tyler and the entire team.

Further strengthen our efforts to unlock value across the industrial landscape and it puts the kind of clear path of scale and drive.

Price shareholder returns.

We're confident that with our board and management team.

We have <unk>.

And the necessary.

The steps to position and fast radius for the future.

And we look forward of getting to work and achieving our goals.

The other as 1 company.

Now over to Pat.

Talk to you of our financials.

Thanks, Lou I'm, Pat Mccusker, co founder and COO and interim CFO at fast radius to jump right and we have grown at nearly a 100% compound annual growth rate and the past 4 years and expect to continue our healthy growth trajectory going forward projecting approximately $25 million in revenue and 2021 and over $100 million and <unk>.

And 2022, we have high conviction and these projections based on our existing backlog and strong customer pipeline and the sales and marketing motion that is proven and working.

The net proceeds raised from this transaction will be deployed and high return investments across customer acquisition software development and micro factory expansion. We expect these investments to other attractive growth and EBITDA in the coming years and are targeting revenue of over $600 million and EBITDA of $135 million and 2025.

This growth will be driven by our existing customer expansion and of sales and marketing engine that is proven and working we have 3 primary customer acquisition channels each of which has shown to yield the customer lifetime value to customer acquisition cost ratio, our <unk> to CAC ratio of 5 to 8 X or more of these primary average acquisition channels our digi.

Marketing inside sales and business development.

On digital marketing, we have both a modern digital marketing tech stack, which allows us to surgically target late funnel high value prospects and a measurable scalable way or.

Our inside sales channel is similarly, scalable with a technology based platform, which allows us to train manage and coach our inside sales professionals to improve their prospecting and yield.

And finally, we have many customers and we ended up themselves represent an addressable market measured in the hundreds of millions of dollars or more for these customers. We are investing and a higher touch business development motion, often dedicating a meaningful portion of and engineer and sales professionals time to onboard and and expand these customers within our cloud manufacturing platform.

And each of these channels, we have demonstrated an ability to acquire new customers and a cost efficient and scalable way and these investments are creating real enterprise value as we compare the customer acquisition cost to what we're seeing across the average customer revenue production gross margins customer retention rates and account expansion.

In addition to this attractive customer acquisition model, we see a strong return profile and the investments, we're making and our micro factories and new micro factory requires about 3 and $5 million and capex on average across equipment and infrastructure at steady state the skills of $4 million EBIT contribution, which works out to approximately an 18 month payback period and and 85% for.

5 year IRR contribution.

That's all for our financials and I will pass it back the Tyler for final remarks about the transaction Tyler.

Thanks, Pat the.

The combined company and will have an estimated post transaction of enterprise value of $995 million with an estimated equity value of $1.4 billion from the contribution of up to $445 million and cash proceeds from the transaction.

Proceeds will consist of up to $345 million of cash held in the <unk> Trust account and an additional 100 million fully committed private investment led by a strong group of strategic and and institutional investors, including Goldman Sachs asset management.

And talented <unk>. The net proceeds raised from the transaction will be used to support fast radius is continued growth across customer acquisition and software development and micro factory expansion.

Radiuses of growth strategy is expected to generate revenue and EBITDA of $635 million and $135 million, respectively and 2025.

Current fast radius management employees and existing shareholders overall, 100% of their existing equity holdings and the equity of the combined fast radius. The business combination has been unanimous Natalie for approved by the board of directors of both fast radius and <unk> the business combination of expected to close in Q4.2.

'twenty, 1 subject to regulatory and stockholder approvals and other customary closing conditions. Upon the closing of the transaction <unk> will be renamed fast radius, Inc. And is expected to remain listed on the NASDAQ.

Thank you for joining us.

This concludes today's conference call. Thank you for participating you may now disconnect.

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