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  "documentTitle": "Heliogen | SPAC Presentation Deck | 27 slides",
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  "authorName": "Heliogen",
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  "presentationDate": "2021-07-01 00:00:00",
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      "text": "Significant growth profile\nAttractive EBITDA margins through multiple segments\nSubsidies for power projects are not reflected and represent potential upside\nCash flow positive beginning in 2025\nNo debt currently on the balance sheet\nCapital light business model we believe optimizes efficiency",
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      "text": "1. Assumes 4 modules per project in 2024E, 16 modules per project in 2025E and 27 modules per project in 2026E. Project numbers have been rounded to the nearest whole number\n2. Revenue from 2021E and 2022E are from work in progress projects.\n3. EBITDA is defined as net earnings (loss) before interest expense, income tax expense (benefit) depreciation and amortization. EBITDA is a non-GAAP financial measure and may be different from measures of EBITDA used by other\ncompanies. Please refer to the Appendix for a reconciliation of non-GAAP financial measures. See \"Disclaimer - Financial Statements; Non-GAAP Financial Measures\".\n4. Free cash flow is defined as net income, plus depreciation and amortization, less capital expenditures (incl. acquisitions) and less change in net working capital. Free cash flow is a non-GAAP financial measure and may be different from\nmeasures of free cash flow used by other companies. Please refer to the Appendix for a reconciliation of non-GAAP financial measures. See \"Disclaimer - Financial Statements; non-GAAP Financial Measures.\"",
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      "kind": "source-note",
      "text": "Source: Heliogen estimates.",
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      "text": "($ in millions)\n2021E 2022E 2023E 2024E 2025E 2026E\nTotal New Modules Installed per Year - - 3 15 57 120\nProjects Installed (1) 3 4 4 5\nRevenue (2) $8 $24 $197 $569 $1,414 $2,396\nRevenue Growth N/A 204% 709% 189% 149% 69%\nEBITDA (3) ($29) ($59) ($92) ($114) $287 $831\n% Margin NM NM NM NM 20% 35%\nCapital Expenditures (10) (15) (34) (36) (56) (97)\nFree Cash Flow (4) ($40) ($70) ($132) ($183) $84 $433",
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      "text": "Attractive Long Term Financial Model",
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