%586+/(66'&

027256
$Q$SSOLFDWLRQV*XLGH

%(, .,0&20$*1(7,&6',9,6,21
%(,7(&+12/2*,(6,1&
%(,7(&+12/2*,(6,1&
%(, 7HFKQRORJLHV ,QF LV DQ LQWHUQD
WLRQDOO\UHFRJQL]HGOHDGHURIVSHFLDOW\
SURGXFWV IRU SURGXFLQJ VHQVLQJ DQG
FRQWUROOLQJ PRWLRQ LQ KLJK DFFXUDF\
PDFKLQHU\ 2XU SDUWLFXODU VSHFLDOWLHV
DUH EUXVKOHVV PRWRUV DQG YRLFH FRLO
DFWXDWRUVFRQWUROHOHFWURQLFVDQGSR
VLWLRQDQGVSHHGUHFRUGLQJHQFRGHUV
ZKLFK LQGLYLGXDOO\ DQG WRJHWKHU SUR
YLGHYLWDOOLQNVEHWZHHQPLFURFRPSXW
HUORJLFDQGSUHFLVLRQPHFKDQLVPV
&1& PDFKLQHV FRPSXWHU FRQWUROOHG
IDFWRULHV &$'&$0 SORWWHUV RI¿FH
DXWRPDWLRQ PDFKLQHV VSDFH VDWHO
OLWHVHQVRUVDQGRSWLFDOVFDQQHUV$OO
UHO\RQ%(,SURGXFWVWRLPSURYHWKHLU
SHUIRUPDQFH YDOXH DQG PDUNHW DF
FHSWDQFH
7KLV JXLGH LV D WXWRULDO RQ EUXVKOHVV
PRWRUVGHVLJQHGDQGPDQXIDFWXUHGDW
%(,¶V.LPFR0DJQHWLFV'LYLVLRQ.LP
LQIRUPDWLRQSHUWDLQLQJWRWKHDFWXDWRUV
DQGVSHFLDOW\PDJQHWLFVPD\EHIRXQG
LQWKH³$FWXDWRU$SSOLFDWLRQV*XLGH´
)RUIXUWKHULQIRUPDWLRQRQWKHSURGXFWV
GHVFULEHG LQ WKLV $SSOLFDWLRQV *XLGH
FRQWDFW
.LPFR0DJQHWLFV'LYLVLRQ
%(,7(&+12/2*,(6,1&
$5DQFKHURV'ULYH6DQ0DUFRV&$
7ROO)UHH‡7HO
&RQVLGHU FRPSXWHUDJH SURGXFWV
VXFK DV FRPSXWHUDVVLVWHG UHVSLUD
WRU\ HTXLSPHQW PHGLFDO GHYLFHV
PHPRU\VWRUDJHSULQWHUVURERWDUPV
%586+/(66'&027256
FR0DJQHWLFVVSHFLDOL]HVLQIUDFWLRQDO )D[‡,QWHUQHWZZZEHLNLPFRFRP
DQGVXEIUDFWLRQDOKRUVHSRZHUEUXVK (0DLOVDOHV#EHLNLPFRFRP
OHVV PRWRUV DQG UHODWHG HOHFWURQLFV
DV ZHOO DV LQ OLQHDU DQG URWDU\ DFWXD
WRUVDQGVSHFLDOW\PDJQHWLFV7XWRULDO
0$*1(7,&6 7 .5%OL]    WDFKHGWRWKHPHFKDQLFDOFRPPXWDWRU
$EUXVKOHVVPRWRULVDK\EULGSHUPD )LJXUH  VKRZV WKH FRLO LQ WKH ]HUR
QHQWPDJQHW'&PRWRU)LJXUHLVD WRUTXHSRVLWLRQ7KHPD[LPXPWRUTXH
VLPSOL¿HG LOOXVWUDWLRQ RI KRZ WRUTXH LV SRVLWLRQ LV  HOHFWULFDO GHJUHHV IURP
JHQHUDWHGLQDSHUPDQHQWPDJQHW'& WKHSRVLWLRQVKRZQ$VWKHFRQGXFWRUV
PRWRU URWDWHIURPWKHPD[LPXPWRUTXHSRVL
WLRQ WRUTXH GURSV RII LQ D VLQXVRLGDO
IDVKLRQ DQG EHFRPHV ]HUR ZKHQ WKH
% FRLOKDVPRYHGGHJUHHV
$EUXVKW\SHPRWRUKDVPRUHWKDQRQH
&
FRLO (DFK FRLO LV DQJXODUO\ GLVSODFHG
1 $ 6 IURP RQH DQRWKHU VR WKDW ZKHQ WKH
WRUTXHIURPRQHFRLOKDVGURSSHGRII
' FXUUHQW LV DXWRPDWLFDOO\ VZLWFKHG WR
DQRWKHUFRLOZKLFKLVSURSHUO\ORFDWHG
WR SURGXFH PD[LPXP WRUTXH 7KH
VZLWFKLQJ LV DFFRPSOLVKHG PHFKDQL
FDOO\ ZLWK EUXVKHV DQG D FRPPXWDWRU
),*85( DVVKRZQLQ)LJXUH
,IFXUUHQWLVFDXVHGWRÀRZLQWKHDUPD
WXUH FRQGXFWRUV WRUTXH LV SURGXFHG %UXVK
7KHUH LV DQ DSSOLFDWLRQ RI D ODZ RI
SK\VLFVZKLFKLVH[SUHVVHGDV )LJXUH  LOOXVWUDWHV WKH VHTXHQWLDO
DQGSURYLGLQJVZLWFKHVIRUHDFKOHDG
KRZHYHUWKLVDSSURDFKZRXOGLQYROYH
DODUJHQXPEHURIVZLWFKHV,QVWHDGD
SRO\SKDVHZLQGLQJVLPLODUWRWKDWXVHG
LQ$&PRWRUVLVXWLOL]HG,QWKLVGHVLJQ
WKH SKDVHV DUH ³FRPPXWDWHG´ DV D
IXQFWLRQRIVKDIWSRVLWLRQ
7ZR WKUHH DQG IRXU SKDVH PRWRU GH
VLJQVDUHFRPPRQ%(,7HFKQRORJLHV
,QF SURYLGHV  SKDVH GHVLJQV 7KLV
FRQ¿JXUDWLRQ RSWLPL]HV SHUIRUPDQFH
HYHQ WKRXJK LW UHTXLUHV PRUH HOHF
WURQLF FRPSRQHQWV 7KUHH W\SHV RI 
SKDVHZLQGLQJVDUHDYDLODEOHGHOWDEL
SRODUZ\HELSRODUDQGZ\HXQLSRODU
7KHVH WKUHH ZLQGLQJ FRQ¿JXUDWLRQV
DQG WKHLU WUDQVLVWRU RULHQWDWLRQ DUH
VKRZQLQ)LJXUH
3+$6(%,32/$5
&20087$7,21
VWHSVLQWKHFRPPXWDWLRQRIDSKDVH
 ) .%OL    ELSRODU V\VWHP &ORVLQJ WUDQVLVWRUV
DQGZLOOHQDEOHFXUUHQWWRÀRZ
:KHUH WKURXJK SKDVH $ DQG % 7KH SHUPD
 ) IRUFH QHQWPDJQHWURWRUZLOOWKHQDOLJQLWVHOI
 . DFRQVWDQW &RLOV LQD]HURWRUTXHSUHIHUUHGSRVLWLRQ,I
 % DLUJDSÀX[GHQVLW\ &RPPXWDWRU  LV RSHQHG DQG  FORVHG FXUUHQW
 O OHQJWKRIFRQGXFWRU %UXVK ZLOO ÀRZ WKURXJK SKDVHV % DQG &
 L FXUUHQWLQDFRQGXFWRU DQGWKHURWRUZLOOPRYHHOHFWULFDO
GHJUHHV 6LPLODUO\ RSHQLQJ  DQG
,IPRUHWKDQRQHFRQGXFWRULVFDUU\LQJ ),*85( FORVLQJZLOOFDXVHWKHURWRUWRPRYH
WKH VDPH FXUUHQW PXOWLSOH WXUQV SHU DQRWKHUHOHFWULFDOGHJUHHV1RWH
FRLOWKHQ ,Q D EUXVKOHVV PRWRU WKH SRVLWLRQ WKDW WKH FXUUHQW WKURXJK SKDVH $ LV
RI WKH FRLOV SKDVHV ZLWK UHVSHFW QRZ ÀRZLQJ LQ WKH GLUHFWLRQ RSSRVLWH
 ) .%OL]    WR WKH SHUPDQHQW PDJQHW ¿HOG LV
VHQVHG HOHFWURQLFDOO\ DQG WKH FXUUHQW
ZKHUH ]  QXPEHU RI FRQGXFWRUV LQ LV VZLWFKHG RU FRPPXWDWHG WR WKH
VHULHV ,Q D PRWRU WKH FRQGXFWRUV UR DSSURSULDWH SKDVHV 7KH FRPPXWD
WDWHDERXWDFHQWUDOVKDIWVHH)LJXUH WLRQLVHIIHFWHGE\PHDQVRIWUDQVLVWRU
WKHRQHDWWKHVWDUWRIWKLVH[HUFLVH
2EYLRXVO\WKHUHPXVWEHVRPHORJLFLQ
WKHRUGHUDQGUDWHWKHWUDQVLVWRUVDUH
VZLWFKHG+DOO(IIHFWVHQVRUVDUHW\SL
 7KHQ WRUTXH 7  )5 ZKHUH 5  VZLWFKHV$EUXVKW\SHPRWRUPD\EH FDOO\XVHGLQWKHORJLFVFKHPH*UDSK
UDGLXVDWWKHDLUJDS6R FRQYHUWHG LQWR D EUXVKOHVV PRWRU E\  PD\ KHOS LOOXVWUDWH KRZ WKLV ZRUNV
EULQJLQJ RXW DOO WKH OHDGV WKDW DUH DW )RU LQVWDQFH LI RQH ZHUH WR HQHUJL]H

3DJH %(,.LPFR0DJQHWLFV'LYLVLRQ
 75$16,67256:,7&+(6
  
6 6 6 6 6 6

6 6 6 6 6 6 6 6 6

'HOWD%LSRODU :\H%LSRODU :\H8QLSRODU

),*85(
LQGLYLGXDO SKDVHV RI D WKUHH SKDVH
EUXVKOHVVPRWRURQHZRXOGJHQHUDWH
DV D IXQFWLRQ RI HOHFWULFDO GHJUHHV RI
URWDWLRQ D WRUTXH FXUYH DV VKRZQ LQ
*UDSK  (DFK SKDVH ZRXOG EH 
HOHFWULFDOGHJUHHVDSDUW,WVKRXOGEH
QRWHGWKDWHOHFWULFDOGHJUHHVLVVLPSO\
PHFKDQLFDOGHJUHHVPXOWLSOLHGE\WKH
ZLWKFXUUHQWÀRZLQJWKURXJKZLQG
LQJ$,IWKHURWRULVSK\VLFDOO\PRYHG
EDFNIURPLWVUHVWSRVLWLRQWRUTXHZLOO
EXLOG XS URXJKO\ VLQXVRLGDOO\ DQG EH
FRPH SHDN DW  HOHFWULFDO GHJUHHV
6LQFHWKHREMHFWLYHLVWRKDYHWKHPR
WRUUXQDWLWVSHDNRSHUDWLQJSRLQWWKH
SRVLWLRQVWLOODQRWKHUGHJUHHVEDFN
7KHVH+DOO(IIHFWVHQVRUVHWWLQJV
HOHFWULFDO GHJUHHV DSDUW IURP VHQVRU
WRVHQVRUDXWRPDWLFDOO\VHTXHQFHWKH
VZLWFKLQJRIFXUUHQWVIURPRQHSKDVH
WRDQRWKHUDWWKHDSSURSULDWHWLPH
$QRWKHU LPSRUWDQW SRLQW WR QRWH IURP
*UDSKLVWKHVLJQRIWKHWRUTXHJHQ
QXPEHURISROHSDLUVRIWKHPRWRU IURPWKHSHDNWRUTXHSRLQWRUGH HUDWHGDVDIXQFWLRQRIURWRUSRVLWLRQ,I
JUHHVLVWKHSRLQWDWZKLFKWKHZLQG WKHFXUUHQWVLQLQGLYLGXDOSKDVHVZHUH

#!!!  "  # # $!
LQJPXVWEHVZLWFKHGRQ$VHQVRULV VZLWFKHGDWWKHSURSHUHOHFWULFDOSRVL
% %
% ORFDWHGWRWULJJHUIURPDURWRUPDJQHW WLRQ SRVLWLYH WRUTXH FRXOG DOZD\V EH
 
DWWKLVVSHFL¿FHYHQW JHQHUDWHGDVLOOXVWUDWHGLQ*UDSK
 
 ,IWKHURWRULVDOORZHGWRWXUQEDFNWR #&$$$ 
!%!# !#"&
&#'$

 ZDUGV LWV RULJLQDO UHVW RU ]HUR WRUTXH (%  $$ !# !$%' !#"&


SRLQW EXW FXUUHQW LV VZLWFKHG IURP
 


     
 ZLQGLQJ$WRZLQGLQJ%DWHOHFWUL
FDOGHJUHHVWKHPRWRUZLOORSHUDWHRQ  ) ) )
) ) )

"   ! 
DQHZVLQHZDYHRUWRUTXHYVDQJOH 
*5$3+ UHVXOWLQJLQDQRWKHUSRLQWRISHDNSHU
IRUPDQFH $JDLQ D VHQVRU LV ORFDWHG  

1RZLPDJLQHWKHURWRULQ)LJXUHUHVW LQVXFKDPDQQHUWRPDUNWKLVHYHQW 

LQJLQLWV]HURWRUTXHSRVLWLRQLHWKH 6LPLODUO\WKHWKLUGVHQVRULVVHWWRWULJ     
    
 HOHFWULFDO GHJUHH SRLQW RQ *UDSK JHUDWHOHFWULFDOGHJUHHV

+DOO(IIHFW6LJQDOV %# #$

*5$3+

:LWK WKH SURSHU VHOHFWLRQ RI SKDVH

'ULYHU HQHUJL]DWLRQ LHWKH SURSHU FRPPX
WDWLRQ VFKHPH WKH UHVXOWDQW WRUTXH
 RXWSXW RI WKH PRWRU LV DV LOOXVWUDWHG
LQ*UDSK7KHVXFFHVVIXOFRPPXWD
WLRQRIWKHEUXVKOHVVPRWRULVNQRZLQJ
6 6 6
WKHURWRUSRVLWLRQLQHOHFWULFDOGHJUHHV
$ DQG KDYLQJ WKH SURSHU FRPPXWDWLRQ
VFKHPH
1 % %UXVKOHVV'&0RWRU7RUTXH&XUYHV
(IIHFWLYH7RUTXH5LSSOH7KUHH3KDVH%LSRODU
7 
2
5

6 4
& 8

6 6 6 (       
(OHFWULFDO'HJUHHV

*5$3+
),*85(

%(,.LPFR0DJQHWLFV'LYLVLRQ 3DJH
 WLRQRIDEUXVKOHVVPRWRULVUHYHUVHG
LH D SHUPDQHQW PDJQHW URWRU DQG
#ONNECTION$IAGRAMFOR",$#-OTOR D ZRXQG VWDWRU 7KH ZRXQG PHP
EHU LV UHIHUUHG WR DV WKH ³DUPDWXUH´
)XUWKHUPRUH WKHUH DUH WZR W\SHV RI
-/$%,./ EUXVKOHVV PRWRUV WKH W\SH WKDW KDV
DQ RXWHU URWDWLQJ PDJQHW DVVHPEO\
DQGWKH³LQVLGHRXW´W\SHWKDWKDVDQ
6
9%, LQQHUURWDWLQJPDJQHWDVVHPEO\)LJ
2 "2. 2%$ XUHV$DQG%GHSLFWWKHWZRPRWRU
3 0(!3%! ! W\SHV
2 ",5 ",+
3 -/4/2 0(!3%" " 7KH RXWHU URWRU DQG LQQHU URWRU IHD
2 /2' '2. WXUHV RI D EUXVKOHVV PRWRU GHVLJQ
3 0(!3%# #
'29 7(4 HDFKKDYHDGYDQWDJHVDQGGLVDGYDQ
6 /04)/. #424!0&/2 WDJHV 7KH ZD\V LQ ZKLFK WKH PRWRU
'.$ 97).$).'3 FKDUDFWHULVWLFVGLIIHUEHWZHHQWKHWZR
GHVLJQVDUHVXPPDUL]HGLQ7DEOH
(!,,$%6)#%3%.3/2,%!$3 -/4/27).$).'3,%!$3

3500,96/,4!'%4/6/,43
7$%/(
-!83).+#522%.4-! &RPSDULVRQRI0RWRU&KDUDFWHULVWLFV
05,,502%3)34/232%15)2%$&/2 ,QQHU5RWDWLQJYV2XWHU5RWDWLQJ
/0%.#/,,%#4/23%.3/2/54054 3HUPDQHQW0DJQHW$VVHPEOLHV
2%#/--%.$%$2 X67
3%.3/23%15%.#%)3 %,%#42)#!,  2XWHU ,QQHU

##7 $8?3%2)%3 #7 $8?3%2)%3 &KDUDFWHULVWLF 5RWDWLQJ 5RWDWLQJ
-/4/22/4!4)/. #7 $)?3%2)%3 -/4/22/4!4)/. ##7 $)?3%2)%3
!SVIEWEDFROMMOUNTINGEND !SVIEWEDFROMMOUNTINGEND
,QHUWLD +LJKHU /RZHU
7RUTXH3RZHU +LJKHU /RZHU
&RPSRQHQWV 0RUH )HZHU
%LECTRICAL$EGREES

%LECTRICAL$EGREES

3 3 3 ! " # $EFINITIONS 3 3 3 ! " #


   ,/ () 8 ()4URNON 
   () ,/ 8
+DOO(IIHFW


 /  8 () ,/ SOURCESIDE 

   () 8 ,/ 3ODFHPHQW $SSUR[ 3UHFLVH
   () 8 ,/ ,/4URNON    8 () ,/
 
   () ,/ 8 SINKSIDE    ,/ () 8
 
   8 ,/ () 8"OTHOFF    ,/ 8 ()
 

   ,/ 8 () (IVOLTAGE
,OVOLTAGE

   8 ,/ ()
,QHUWLD&RQVLGHUDWLRQV

2QHRIWKHNH\HOHPHQWVRIDSURSHU
),*85( PRWRU VHOHFWLRQ H[HUFLVH LV DQ RS
WLPL]HG ORDGLQHUWLD WR URWRULQHUWLD
)LJXUHSURYLGHVFRQQHFWLRQDQGFRORU ´,16,'(287µ UDWLR 7KH UHFRPPHQGHG UDWLR LV D
FRGH LQIRUPDWLRQ SHUWDLQLQJ WR PRWRU PD[LPXP RI  LQ ULJLG PHFKDQLFDO
DQGVHQVRUOHDGVLQ%(,EUXVKOHVVPR 0(&+$1,&$/'(6,*1 V\VWHPV WKDW XWLOL]H JHDU UHGXFHUV RU
WRUV7KHGLDJUDPDOVRLQFOXGHVWDEOHV ZRUPJHDUVDQGDPD[LPXPRIIRU
LOOXVWUDWLQJ WKH SURSHU VHQVRU ORJLF IRU $ EUXVK W\SH PRWRU KDV D SHUPDQHQW V\VWHPV WKDW LQFOXGH EHOW DQG SXOOH\
FORFNZLVHDQGFRXQWHUFORFNZLVHVKDIW PDJQHW VWDWRU DQG D ZRXQG URWRU DV UHGXFWLRQV $ PRWRU ZLWK DQ RXWHU
URWDWLRQ VKRZQ LQ )LJXUH   7KH FRQ¿JXUD URWRUZRXOGWKHUHIRUHKDYHDQDGYDQ
WDJH RI JUHDWHU VWDELOLW\ LQ D V\VWHP
ZLWKDYHU\KLJKUHÀHFWHGORDGLQHUWLD
!RMATURE 2QWKHRWKHUKDQGDORZURWRULQHUWLD
HQDEOHV DWWDLQPHQW RI KLJKHU DFFHO
HUDWLRQ UDWHV VLQFH WKH DFFHOHUDWLRQ
WRUTXHUHTXLUHGLQDQDSSOLFDWLRQLVWKH
SURGXFWRIWRWDOLQHUWLDWLPHVDFFHOHUD
3

WLRQUDWHSOXVORDGIULFWLRQWRUTXH7KH
.

UHFRPPHQGHG ORDGWRURWRU LQHUWLD

PD[LPXPV VKRXOG QRW EH H[FHHGHG
3

ZKHQHYHUSRVVLEOH
.

$QRWKHU DGYDQWDJH RI WKH ORZHU LQ

HUWLD LQQHU URWRU LV WKH OHYHO RI URWRU
EDODQFHDWWDLQDEOHLQWKHV\VWHP7KLV
3

DGYDQWDJH HQDEOHV VPRRWK RSHUD

3

WLRQ DW KLJKHU VSHHGV DSSUR[LPDWHO\

.

 530 WR  530 $JDLQ

WKHUH LV D WUDGH RII  7KH LQQHU UR
WRU KDV D D KLJK VSHHG OLPLWDWLRQ RI
DERXW  530 ZLWKRXW VSHFLDO
0ERMANENT-AGNETS
PHFKDQLFDO VOHHYLQJ RI WKH URWRU
ZKHUHDVWKHRXWHUURWRUKDVDOLPLWD
WLRQ RI DERXW  530 )RU YHU\
KLJKVSHHGRSHUDWLRQWKHRXWHUURWRU
),*85(6$ % KDVWKHFOHDUDGYDQWDJH

3DJH %(,.LPFR0DJQHWLFV'LYLVLRQ
7RUTXH 3RZHU2XWSXW
)RU D JLYHQ PRWRU YROXPH WKH RXWHU
URWRU PRWRU KDV KLJKHU WRUTXH DQG
SRZHU RXWSXW 7KLV DGYDQWDJH LV SDU
WLFXODUO\ LPSRUWDQW DW KLJK VSHHGV RI
RSHUDWLRQ ZKHUH WKH EDFN (0) RI
WKH PRWRU ZLQGLQJ HDWV DZD\ DW WKH
7:2%(,2))(5,1*6
+286('96)5$0(/(66
%(,7HFKQRORJLHV,QFRIIHUVPRWRUVLQ
KRXVHGDVZHOODVXQKRXVHGRUIUDPH
OHVVFRQ¿JXUDWLRQV)UDPHOHVVPRWRUV
DUH XWLOL]HG E\ 2ULJLQDO (TXLSPHQW
+RXVHGPRWRUVRIIHUWKHFRQYHQLHQFH
RI D FRPSOHWH PRWRU SDFNDJH LQFOXG
LQJ EHDULQJV VKDIW HQFORVXUH DQG
PRXQWLQJ SURYLVLRQV ,Q DGGLWLRQ %(,
7HFKQRORJLHV ,QF FDQ SURYLGH KRXV
LQJV WKDW LQFRUSRUDWH IHDWXUHV RI WKH
FXVWRPHU¶VRULJLQDOHTXLSPHQW)RUH[
DPSOHWKHPRWRUPRXQWLQJÀDQJHPD\
YROWDJH VRXUFH OHDYLQJ OLWWOH YROWDJH
DYDLODEOHWRSXOOFXUUHQW+RZHYHUWKH
LQQHUURWRUPRWRUFDQEHFRROHGPRUH
HIIHFWLYHO\WKDQLWVRXWHUURWRUFRXQWHU
SDUW7KLVLVVREHFDXVHWKHDUPDWXUH
LVH[WHUQDOWRWKHURWRUHQDEOLQJGLUHFW
KHDW GLVVLSDWLRQ WKURXJK WKH PRWRU
0DQXIDFWXUHUV 2(0¶6 LQWHUHVWHG LQ
IXOO\ LQWHJUDWLQJ PRWRU SDUW VHWV LQWR
WKH¿QLVKHGSURGXFW)UDPHOHVVPRWRUV
DUHDOVRXWLOL]HGLQV\VWHPVWKDWUHTXLUH
KLJKVHUYREDQGZLGWKZKHUHWKHXVHRI
DVKDIWFRXSOLQJGHYLFHFRXOGLQWURGXFH
XQZDQWHG PHFKDQLFDO UHVRQDQFHV
EHFDVWWRLQFOXGHDPRXQWLQJSODWHWKDW
ZRXOG RWKHUZLVH KDYH EHHQ VXSSOLHG
DVDVHSDUDWHFRPSRQHQW7KHUHVXOWLV
DVDYLQJVLQODERUERRNNHHSLQJDQG
LQYHQWRU\H[SHQVHV
RXWVLGH GLDPHWHU 2'  $GGLWLRQ RI
IRUFHG DLU FRROLQJ RU KHDW VLQNLQJ WR
WKH PRWRU 2' UHVXOWV LQ D GUDPDWLF
LQFUHDVHLQPRWRUSHUIRUPDQFH
1XPEHURI0RWRU&RPSRQHQWV
7KH\DUHDOVRXVHGDVDUHVXOWRIHFR
QRPLFFRQVLGHUDWLRQV)LJXUHGHSLFWV
D IUDPHOHVV PRWRU DQG LWV KRXVHG
EUXVKPRWRUFRXQWHUSDUW

,Q WKLV FDWHJRU\ WKH LQQHU URWRU PRWRU

RIIHUVDFRXSOHRIDGYDQWDJHVRYHUWKH
RXWHUURWRUPRWRU7KHIHZHUQXPEHURI
SDUWVLQWKHLQQHUURWRUGHVLJQPHDQV
JUHDWHULQKHUHQWUHOLDELOLW\,WDOVRSXWV
PRQH\ LQ WKH XVHU¶V SRFNHW VLQFH
GHVLJQVLPSOLFLW\DOVRUHVXOWVLQORZHU
FRVWVWRWKHPRWRUPDQXIDFWXUHU

)RUWKHPRQH\WKHLQQHUURWRUPRWRULV
WKH PRWRU RI FKRLFH ZKHUH VSHHGV RI
RSHUDWLRQDQGLQHUWLDPDWFKLQJFRQVLG
HUDWLRQVDOORZ
),*85(

6,=,1*%586+/(66027256
,1)250$7,21 /RRNLQJDWWKHVHSDUDWHFRPSRQHQWV ZKHUHWLVWKHDFFHOHUDWLRQWLPHWLV
WKHWRUTXHGXHWRLQHUWLDLVWKHSURGXFW WKHUXQWLPHWLVWKHGHFHOHUDWLRQWLPH
5(48,5(' RI ORDG LQFOXGLQJ PRWRU URWRU LQHUWLD DQGWLVWKHGZHOOWLPHLQDPRYH
DQGORDGDFFHOHUDWLRQ
7KH QDWXUH RI WKH DSSOLFDWLRQ XQGHU 6SHHGRI2SHUDWLRQ
FRQVLGHUDWLRQ GLFWDWHV ZKDW LQIRUPD
WLRQ LV UHTXLUHG WR SURSHUO\ VHOHFW D
PRWRU FDQGLGDWH )RU H[DPSOH RSHU
DWLQJDWD¿[HGVSHHGZLOOKDYHDGLI
IHUHQW GHPDQG WKDQ RSHUDWLRQ XQGHU
VHUYR FRQGLWLRQV ,Q JHQHUDO WKUHH
SDUDPHWHUV ZLOO GHWHUPLQH PRWRU VH
7- -/0;DD DFFHOHUDWLRQ
7KHWRUTXHGXHWRWKHORDGLVGH¿QHG
E\ WKH FRQ¿JXUDWLRQ RI WKH PHFKDQL
FDOV\VWHPFRXSOHGWRWKHPRWRU7KH
PHFKDQLFDO V\VWHP DOVR GHWHUPLQHV
WKHDPRXQWRIWRUTXHUHTXLUHGWRRYHU
6SHHGRIRSHUDWLRQLVDOVRGLFWDWHGE\
WKH FRQ¿JXUDWLRQ RI WKH PHFKDQLFDO
V\VWHP WKDW LV FRXSOHG WR WKH PRWRU
VKDIWDQGE\WKHW\SHRIPRYHWKDWLV
WR EH HIIHFWHG )RU H[DPSOH D VLQJOH
VSHHGDSSOLFDWLRQZRXOGUHTXLUHDPR
OHFWLRQ  SHDN WRUTXH UHTXLUHPHQW FRPH IULFWLRQ LQ D JLYHQ DSSOLFDWLRQ WRUZLWKDUDWHGRSHUDWLQJVSHHGHTXDO
 506 WRUTXH UHTXLUHPHQW DQG  7KHVH V\VWHPV ZLOO EH GHVFULEHG RQ WR WKH DYHUDJH PRYH VSHHG $ SRLQW
VSHHGRIRSHUDWLRQ SDJHVWR WRSRLQW SRVLWLRQLQJ DSSOLFDWLRQ ZRXOG
UHTXLUHDPRWRUZLWKDUDWHGRSHUDWLQJ
3HDN7RUTXH5HTXLUHPHQW 5067RUTXH5HTXLUHPHQW VSHHG KLJKHU WKDQ WKH DYHUDJH PRYH
VSHHG 7KH KLJKHU RSHUDWLQJ VSHHG
3HDN WRUTXH 73 LV WKH VXP RI WKH 5RRW0HDQ6TXDUH RU 506 WRUTXH LV ZRXOG DFFRXQW IRU DFFHOHUDWLRQ GH
WRUTXH GXH WR DFFHOHUDWLRQ RI LQHUWLD D YDOXH XVHG WR DSSUR[LPDWH WKH DY FHOHUDWLRQDQGUXQWLPHVRIWKHPRWLRQ
7-ORDG7/DQGIULFWLRQ7)
 HUDJH FRQWLQXRXV WRUTXH UHTXLUHPHQW SUR¿OHUHVXOWLQJLQDQDYHUDJHVSHHG
RIDQDSSOLFDWLRQ,WLVDVWDWLVWLFDODS HTXDOWRWKHPRYHVSHHG)LJXUHV$
73 7-7/7)
   SUR[LPDWLRQGHVFULEHGE\WKHIROORZLQJ DQG%UHODWHUDWHGRSHUDWLQJVSHHGWR
HTXDWLRQ DYHUDJHPRYHVSHHGIRUSRLQWWRSRLQW

2WKHU IDFWRUV FRQWULEXWH WR WKH RYHUDOO WRUTXH SRVLWLRQLQJPRYHSUR¿OHV
UHTXLUHPHQW 7KH YDOXHV RI WKHVH IDFWRUV DUH
W\SLFDOO\PRUHGLI¿FXOWWRDVVHV7KH\DUHWDNHQ

  /7)W7-7/7)W
7506  73 W7 
LQWR FRQVLGHUDWLRQ E\ HPSOR\LQJ D ³UXOHRI
WKXPE´ VDIHW\ PDUJLQ  RI WKH FDOFXODWHG
WRUTXHYDOXH
 ¥
 W W W W
   

%(,.LPFR0DJQHWLFV'LYLVLRQ 3DJH
 ZPD[  UDWHGRSHUDWLQJVSHHGRI Z75, DYHUDJHVSHHGRIPRWRU  W  DFFHOHUDWLRQWLPHVHFRQGV
   PRWRU530   UHTXLUHGIRUDVSHFL¿HG W  UXQWLPHVHFRQGV
Z75$3 DYHUDJHVSHHGRIPRWRU   WULDQJXODUPRYH530 W  GHFHOHUDWLRQWLPHVHFRQGV
  UHTXLUHGIRUDVSHFL¿HG '  WRWDOGLVWDQFHWUDYHOHGPRWRU W  GZHOOWLPHVHFRQGV
  WUDSH]RLGDOPRYH530   VKDIWUHYROXWLRQV

7UDSH]RLGDO0RYH 7ULDQJXODU0RYH













   
  

L)RUDFFHOHUDWLRQSRUWLRQRIFXUYH L)RUDFFHOHUDWLRQSRUWLRQRIFXUYH
 ZPD[ 'W  ZPD[ 'W
   
 ZPD[ 'W  ZPD[ 'W

LL)RUHQWLUHPRYH LL)RUHQWLUHPRYH
 Z75$3 >'''@WWW   Z75, >''@WW 'W
 'W
Z 'W 
LLL PD[   
Z Z75,'W 
'W 

LLL PD[
Z 'W  
75$3 
 LHZPD[ Z75,
LHQPD[ Z75$3

),*85(6$ %

5()(5(1&( +ROORZ&\OLQGHU
:J55 :55
3+<6,&63523(57,(6 $ [L
V +ROORZ&\OLQGHU - 
 
 
LQ6HF
RUULQJDERXW
7KLVVHFWLRQSUHVHQWVFRQYHUVLRQIDF &\OLQGHU$[LV 
5 6HFLQ55:
WRUV DQG SK\VLFDO FKDUDFWHULVWLFV RI 5 P
PRWLRQ WKDW DUH XWLOL]HG LQ WKH VL]LQJ -  55 ,I ZHLJKW LV XQNQRZQ EXW YROXPH 9

DQGVHOHFWLRQRIPRWRUV7KHLQIRUPD  DQG PDWHULDO GHQVLW\ U LV NQRZQ
WLRQ SURYLGHG LV D WHFKQLFDO EDVLV IRU VXEVWLWXWLQJ9UJIRUP
WKHFDOFXODWLRQVVKRZQRQSDJHVWR V
 $ [L 6ROLG&\OLQGHU 6ROLG&\OLQGHU
DERXW&\OLQGHU 9UJ5 S5/U5
$[LV - 
,QHUWLD&DOFXODWLRQV    J
P5
,QHUWLD LV D YHU\ LPSRUWDQW FRQVLG / -  S/U5

5
HUDWLRQ GXULQJ DFFHOHUDWLRQ DQG GH  
LQ6HF
FHOHUDWLRQ RI ORDGV %HFDXVH EHOWV
SXOOH\V JHDU VSURFNHWV GULYH VKDIWV ),*85(  6HFLQ5/U 
GULYHQVKDIWVHWFDUHW\SLFDOO\XWLOL]HG
LQSRZHUWUDQVPLVVLRQVDSSOLFDWLRQVLW )RU REMHFWV RI NQRZQ ZHLJKW : +ROORZ&\OLQGHU
LVDSSURSULDWHWRUHYLHZLQHUWLDVRIF\ VXEVWLWXWLQJ :J J  DFFHOHUDWLRQ RI  9UJ 5 5 
OLQGULFDOREMHFWV JUDYLW\IRUP -  

 

)LJXUHLOOXVWUDWHVWZRREMHFWVURWDWHG 6ROLG&\OLQGHU S/U5555

DERXWWKHF\OLQGHUD[LVDQGHTXDWLRQV :J5 :5 :5   LQ6HF
GHVFULELQJ WKH FRUUHVSRQGLQJ URWD -     
JLQ6HF
WLRQDOLQHUWLDV  6HFLQ5 5 /U
 
 6HFLQ5: 

3DJH %(,.LPFR0DJQHWLFV'LYLVLRQ
0DWHULDO'HQVLWLHV
7DEOH  VKRZV WKH GHQVLWLHV RI FRP
PRQO\ XVHG PDWHULDOV 7KH YDOXHV
VKRZQLQWKHWDEOHVKRXOGEHVXEVWLWXW
HGIRUULQHTXDWLRQVDQGZKHQ
FDOFXODWLQJLQHUWLDV
&RHI¿FLHQWVRI)ULFWLRQ &RQYHUVLRQ)DFWRUV
,W DOVR LPSRUWDQW WR QRWH WKH FRHI
7DEOH  LV D FROOHFWLRQ RI FRQYHUVLRQ
¿FLHQWV RI IULFWLRQ IRU VHYHUDO W\SHV
IDFWRUV RIWHQ UHTXLUHG LQ PRWRU DSSOL
RI VXUIDFHWRVXUIDFH LQWHUIDFHV 7KLV
FDWLRQH[HUFLVHV
LQIRUPDWLRQ LV LPSRUWDQW LQ WKRVH LQ
VWDQFHVZKHUHIULFWLRQPHDVXUHPHQWV
7$%/(
DUH QRW SRVVLEOH IRU RQH UHDVRQ RU &RQYHUVLRQ)DFWRUV
DQRWKHUHJWKHV\VWHPGHVLJQLVVWLOO
7$%/( DWWKHSDSHUVWDJH7DEOHLVDOLVWLQJ
0DWHULDO'HQVLWLHV RIWKHVHYDOXHV 8QLWGHVLUHG &RQYHUVLRQ
   'HQVLW\ 7$%/( ZDWWV  R]LQ;530
0DWHULDO  R]LQ   
&RHIÀFLHQWVRI)ULFWLRQP
5DGLDQV6HF 530
6WDLQOHVV6WHHO  ZDWWV  KS;
&RQWDFW6XUIDFH &RHI¿FLHQW R]LQ KS;530
6WHHO 
$OXPLQXP  /LQHDU%DOO%HDULQJV  R]LQ ZDWWV;530
6WHHORQVWHHOQROXE  R]LQ OELQ
&HUDPLF 
$OXPLQXPRQVWHHO  R]LQ OEIW
&RSSHU  R]LQ 1P;
%UDVV  7HÀRQRQVWHHO  R]LQ JFP
*ODVV  7HÀRQRQ7HÀRQ  R]LQ6HF R]LQ
3ODVWLF  *ODVVRQJODVV  R]LQ6HF JFP;
/HDGVFUHZ  R]LQ6HF JFP6HF
5RWDU\EDOOEHDULQJ  R]LQ6HF OELQ
R]LQ6HF OELQ6HF;

$33/<,1*%586+/(66027256
7+(25< $W VRPH VSHHG DQG XQGHU QRORDG
FRQGLWLRQV WKH PDJQLWXGH RI WKH
3HUPDQHQW0DJQHW'&0RWRU(TXLYD EDFN (0) ZLOO EHFRPH HTXDO WR WKH
OHQW&LUFXLW PDJQLWXGH RI WKH YROWDJH VRXUFH $W
WKLV RSHUDWLQJ SRLQW WKH QXPHUDWRU LQ
3HUPDQHQW0DJQHW'&7RUTXH
6SHHG&XUYH
$ SHUPDQHQW PDJQHW '& EUXVKOHVV
PRWRU EHKDYHV OLNH DQ\ SHUPDQHQW
(TXDWLRQ  EHFRPHV ]HUR OHDYLQJ PDJQHW '& EUXVK PRWRU $OO RI WKH
%DFN(0)
QR YROWDJH DYDLODEOH WR SXOO FXUUHQW SDUDPHWHUV GLVFXVVHG LQ WKLV JXLGH
5P 7KH PRWRU VSHHG REVHUYHG DW WKLV DUH EDVHG RQ WKH IDFW WKDW DQ LGHDO
,
SRLQW LV UHIHUUHG WR DV WKH ³QR ORDG´ 30PRWRUKDVDOLQHDUWRUTXHVSHHG
VSHHG Z1/ RI D PRWRU ZLWK ZLQGLQJ FXUYHDVVKRZQLQ)LJXUH
UHVLVWDQFH50
(

),*85(
%DVLF&XUYH( LH5HIHUHQFHYROWDJH
:KHQDYROWDJHLVDSSOLHGDFURVVWKH
PRWRUWHUPLQDOVDFXUUHQW,FLUFXODWHV (
$ [(
WKURXJK ZLQGLQJV RI UHVLVWDQFH 50 3HDN7RUTXH7 S
DQGWKHPRWRUJHQHUDWHVDEDFNHOHF (
% [(
WURPRWLYHIRUFH(0)7KLVEDFN(0)
LVSURSRUWLRQDOWRWKHVSHHGRIRSHUD
WLRQZE\DFRQVWDQW.E

 %DFN(0) Z.E  
7RUTXH
DQGGLUHFWO\RSSRVHVWKHDSSOLHGYROW
DJH7KH HTXDWLRQ WKDW GHVFULEHV WKH
FLUFXLWVKRZQLQ)LJXUHLV

 ( 9VRXUFH ,50Z.E 

$W VWDOO Z   530 DQG WKHUH LV QR

EDFN(0)7KHQ, 9VRXUFH50$VWKH
VSHHG EXLOGV XS WKH EDFN (0) LQ 6SHHG W1/
FUHDVHV7KHQ9VRXUFH Z.E,50DQG
VROYLQJIRU,

 , 9VRXUFHZ.E50  ),*85(

%(,.LPFR0DJQHWLFV'LYLVLRQ 3DJH
$33/,&$7,217<3(6
$)L[HG6SHHG2SHUDWLRQ
%UXVKOHVV %ORZHU %UXVKOHVV 3XPS
2SWLFDO 6FDQQHU 5HVSLUDWRU %ORZHU
6XUJLFDO'ULOO0HWHULQJ3XPS
%UXVKOHVVPRWRUVDUHJDLQLQJSRSXODU
LW\ LQ PDQ\ VLQJOHVSHHG DSSOLFDWLRQV
VXFK DV LPSHOOHU GULYHUV LQ EORZHUV
DQGSXPSV7KHORQJOLIHFKDUDFWHULV
WLFRIWKH³EUXVKOHVV´PRWRULVEHFRP
LQJPRUHDQGPRUHDWWUDFWLYHLQDSSOL
FDWLRQVWKDWWUDGLWLRQDOO\XWLOL]HGEUXVK
6WHS   3HDN 7RUTXH &DOFXODWLRQ
QRQHUHTXLUHG
6WHS5067RUTXH&DOFXODWLRQ¿[HG
VSHHG DSSOLFDWLRQV GR QRW UHTXLUH DQ
506 WRUTXH FDOFXODWLRQ ,QVWHDG WKH
DYHUDJHWRUTXHLVFDOFXODWHGEDVHGRQ
KRUVHSRZHU DQG RSHUDWLQJ VSHHG UH
TXLUHPHQWV)URPWKHYDOXHVVKRZQLQ
7DEOHZHKDYHDKS;
530 RU  R] LQ FRQWLQXRV WRUTXH
UHTXLUHPHQW
7DEOHVKRZVPRWRUDQGZLQGLQJSD
UDPHWHUV SHUWDLQLQJ WR WKH %(, 7HFK
LPSHUDWLYH WR DOORZ HQRXJK YROWDJH
KHDGURRPWRSXOOWKHFXUUHQWWKDWZLOO
JHQHUDWH WKH GHVLUHG WRUTXH DW WKH
VSHHGRIRSHUDWLRQ
 &DOFXODWLRQRIJHQHUDWHGEDFN
 (0)
7KH ¿UVW VWHS LQ VHOHFWLQJ D
ZLQGLQJ LV WR VWDUW ZLWK D ZLQG
LQJ WKDW KDV D EDFN (0) FRQ
VWDQW ORZ HQRXJK WR SURGXFH
WKH GHVLUHG RSHUDWLQJ VSHHG
DW WKH DYDLODEOH LQSXW YROWDJH
:LQGLQJ $ LV DSSURSULDWH LH
PRWRU WHFKQRORJ\ 7KH W\SLFDO ¿[HG QRORJLHV',1VHULHVLH1(0$ 995DG6HF
VSHHG UHTXLUHPHQW LV V\VWHP SRZHU ÀDQJH EUXVKOHVV PRWRUV ,W DSSHDUV 5305DG6HF   530
XSIROORZHGE\H[WHQGHGRSHUDWLRQDW
RQHVHWVSHHG7KHDFFHOHUDWLRQWLPHLV
QRWDFULWLFDOSDUDPHWHU,QWKLVFDVHLQ
SXWYROWDJHFRQWLQXRXVWRUTXHRXWSXW
DQGVSHHGRIRSHUDWLRQDUHWKHGHVLJQ
WKDWPRGHO',1KDVDVWDOOWRUTXH ZH QHHG  530  7KH
UDWLQJZHOODERYHWKHR]LQFDOFX EDFN (0) YROWDJH JHQHUDWHG
ODWHG LQ WKH SUHVHQW H[DPSOH 0RGHO DW WKH VSHHG RI RSHUDWLRQ LV
',1KDVDVWDOOWRUTXHUDWLQJWRR
VPDOOWRPHHWWKHUHTXLUHPHQWV7DEOH Z.E .5305305DG
SDUDPHWHUV WREH FRQVLGHUHG ,QHUWLD OLVWVRQHVWDQGDUGZLQGLQJ)RURWKHU 6HF95DG6HF 9
PDWFKLQJLVQRWDFRQVLGHUDWLRQVLQFH ZLQGLQJV SOHDVH FRQVXOW RXU$SSOLFD
WKHORDGLVW\SLFDOO\PRXQWHGGLUHFWO\WR WLRQV(QJLQHHUV  &DOFXODWLRQRIWRUTXHSURGXFLQJ
WKHPRWRUVKDIW  YROWDJH
6WHS   :LQGLQJ 6HOHFWLRQ ,W ZDV
([DPSOH VWDWHGHDUOLHUWKDWWKHEDFN(0)YROW 9WRUTXH 9VRXUFH9 99
%XVYROWDJH9'& DJH JHQHUDWHG E\ WKH PRWRU GXULQJ
RSHUDWLRQ VXEWUDFWV GLUHFWO\ IURP WKH 9'&
2SHUDWLQJVSHHG530
+RUVHSRZHUDW530+3 DYDLODEOHYROWDJHVXSSO\,WLVWKHUHIRUH
7$%/(
6WDQGDUG0RWRU3DUDPHWHUV


81,76 6<0%2/ ',1 ',1 ',1
0D[5HFRPPHQGHG6SHHG 530 Z1/   
3HDN7RUTXH
R]‡LQ 73   
&RQWLQXRXV6WDOO7RUTXH

R]‡LQ 7&6   
0RWRU&RQVWDQW R]‡LQ .0   
¥:DWW
(OHFWULFDO7LPH&RQVWDQW 0LOOLVHF W(   
0HFKDQLFDO7LPH&RQVWDQW 0LOOLVHF W0   
3RZHU,5#3HDN7RUTXH :DWWV 33   
'DPSLQJ)DFWRU R]‡LQ )2   
=HUR,PSHGDQFH UDGVHF
)ULFWLRQ7RUTXH R]‡LQ 7)   
5RWRU,QHUWLD R]‡LQ‡VHF -0 [ [ [
7KHUPDO5HVLVWDQFH ƒ&:DWW TWK   
0D[$OORZDEOH:LQGLQJ7HPS ƒ&   
3KDVHV:LQGLQJ7\SH < < <
3ROHV   
:HLJKW R] :   
/HQJWK LQ Ł   

6WDQGDUG:LQGLQJ ',1 ',1 ',1

&RQVWDQWV 8QLWV 7RO 6\PERO $ % & $ % & $ % &
'&5HVLVWDQFH 2KPV “ 5   
9ROWDJH#3HDN7RUTXH 9ROWV 1RPLQDO 93   
&XUUHQW#3HDN7RUTXH $PSHUHV 1RPLQDO ,3   
7RUTXH6HQVLWLYLW\ R]‡LQ$PS “ .7   
%DFN(0)&RQVWDQW 9ROWVUDGVHF “ .%   
,QGXFWDQFH 0LOOL+HQU\ “ /   
*(1(5$/&+$5$&7(5,67,&6
6HFDWƒ&$PELHQWƒ&:LQGLQJ7HPSHUDWXUH $PELHQW2SHUDWLQJ7HPSHUDWXUHƒ&WRƒ&
ƒ&$PELHQWƒ&:LQGLQJ7HPSHUDWXUHDQG+HDWVXQNWR´[´[ó´$OXPLQXP3ODWH ,QVXODWLRQ5HVLVWDQFH#9'&0Ÿ0LQ
2WKHURSHUDWLQJVSHHGVDQGWRUTXHVDUHDYDLODEOHWRVXLWVSHFL¿FDSSOLFDWLRQUHTXLUHPHQWV %HDULQJV*UHDVH3DFNHG'RXEOH6KLHOGHG

3DJH %(,.LPFR0DJQHWLFV'LYLVLRQ
&DOFXODWLRQFXUUHQWDYDLODEOHWR ([DPSOH WRUTXHUDWLQJRIR]LQ,WDOVRKDV
SURGXFHWRUTXH %XV9ROWDJH9'& DURWRULQHUWLDRI;R]LQ6HF
$FFHOHUDWLRQWLPHVHFRQGV DYDOXHWKDWLVQHJOLJLEOHFRPSDUHGWR
9: $ /RDG´GLDPHWHUDOXPLQXPGLVN WKHWRWDOORDGLQHUWLD,IWKHURWRULQHU
´WKLFN WLDZDVFRPSDUDEOHWRRUJUHDWHUWKDQ
&DOFXODWLRQRIFXUUHQWUHTXLUHGWR 6XSSRUWLQJFKXFN´GLDPHWHUò´ WKHORDGLQHUWLDLWZRXOGEHQHFHVVDU\
GULYHORDG WKLFNSODVWLFPRXQWHGGLUHFWO\WR WRSURFHHGZLWKPRWRUVHOHFWLRQLWHUD
PRWRUVKDIW WLRQV SOXJJLQJ WKH URWRU LQHUWLD YDOXH
R]LQ.W R]LQ 2SHUDWLQJVSHHG530 LQ WKH LQHUWLDWLPHVDFFHOHUDWLRQUDWH
R]LQ$ $ 'XW\&\FOH HTXDWLRQ WR LQVXUH D SURSHU SHDN
WRUTXHUHTXLUHPHQW
6WHS/RDG,QHUWLD&DOFXODWLRQ
,WDSSHDUVWKDWPRGHO',1ZLQG 'XW\F\FOHFKHFNR]LQ
LQJ$ZLOOSURYLGHWKHR]LQWRUTXH $OXPLQXPGLVN R]LQZHOOZLWKLQWKHFRQWLQ
QHHGHGDW530RSHUDWLRQ
XRXVVWDOOUDWLQJRIR]LQ
(TXDWLRQ  VKRZV WKDW WKH LQHU
WLD RI D VROLG F\OLQGHU RI OHQJWK / 6WHS:LQGLQJ6HOHFWLRQ7KHZLQG

,Q SUDFWLFH WKH ZLQGLQJ UHVLVWDQFH LQFUHDVHV
UDGLXV 5 DQG GHQVLW\ U PD\ EH LQJ VKRXOG EH VHOHFWHG LQ WKH VDPH
DV WKH PRWRU WHPSHUDWXUH LQFUHDVHV 7KH O5
GHWHUPLQHGDVIROORZV PDQQHUDVVKRZQLQWKHVLQJOHVSHHG
ORVVHVLQFUHDVHDQGDWKLJKVSHHGFRUHORVVHV
DSSOLFDWLRQH[DPSOH,QWKLVFDVHWKH
DQGHGG\FXUUHQWORVVHVDIIHFWWKHHI¿FLHQF\RI
-   6HFLQ5/U  KLJK SHDN WRUTXH UHTXLUHPHQW QHFHV
WKHPRWRU$JDLQWKHVDIHW\PDUJLQXWLOL]HG
 6HFLQ´´ VLWDWHV VHOHFWLRQ RI D ZLQGLQJ ZLWK D
LQ PRWRU VL]LQJ H[HUFLVHV KHOSV HQVXUH SURSHU
R]LQ R]LQ6HF ORZUHVLVWDQFHVRWKDWHQRXJKFXUUHQW
VHOHFWLRQ
PD\ EH GUDZQ WR SURYLGH  R] LQ
3ODVWLFFKXFN RIWRUTXH:LQGLQJ$DSSHDUVWREHD
VXLWDEOHFDQGLGDWH
6WHS   &RQWUROOHU 6HOHFWLRQ 7KH
H[DPSOH VKRZQ DERYH UHTXLUHG D - 6HFLQ´´
FRQWUROOHUUDWHGDWOHDVW9'&RXWSXW
WHUPLQDOYROWDJHDQG$FRQWLQXRXV
RXWSXWFXUUHQW,WVKRXOGEHQRWHGWKDW
WKH YROWDJH DW WKH PRWRU WHUPLQDOV LV
DOZD\VORZHUWKDQWKHLQSXWYROWDJHWR
WKHFRQWUROOHUGXHWRORVVHVLQWKHHOHF
WURQLFFRPSRQHQWV,QDGGLWLRQEUXVK
OHVVPRWRUVDUHGHVLJQHGIRUHI¿FLHQ
FLHVDURXQG$FRQWUROOHUZLWKD
UDWHGFXUUHQWDERXWJUHDWHUWKDQ
WKHFDOFXODWHGYDOXHVKRXOGXOWLPDWHO\
EHVHOHFWHG
$QRWKHU FRQVLGHUDWLRQ LQ FRQWUROOHU
VHOHFWLRQ LV WZRTXDGUDQW YV IRXU
TXDGUDQW FRQWURO$ WZRTXDGUDQW XQLW
R]LQ R]LQ6HF
0RWRUURWRU7REHLQFOXGHGODWHU
6WHS   $FFHOHUDWLRQ &DOFXODWLRQ
8QLWV RI 5DGLDQV6HF VKRXOG DOZD\V
EH XVHG LQ DFFHOHUDWLRQ UDWH FDOFXOD
WLRQV VLQFH ³5DGLDQ´ LV D XQLWOHVV
QXPEHU 7KH SURGXFW RI DFFHOHUDWLRQ
DQG LQHUWLD ZLOO GURS RXW WR XQLWV RI
WRUTXH
$FFHOHUDWLRQ UDWH  RSHUDWLQJ VSHHG
DFFHOHUDWLRQWLPH VKRXOGEHVHOHFWHG
 530  5DG6HF
DQG     $FFHO UDWH   5DG
6WHS   &RQWUROOHU 6HOHFWLRQ +LJK
DFFHOHUDWLRQ UDWH DSSOLFDWLRQV UHTXLUH
VHOHFWLRQ RI D FRQWUROOHU WKDW KDV D
SHDN FXUUHQW UDWLQJ DW OHDVW DV KLJK
DV WKH FXUUHQW GLFWDWHG E\ PRWRU
ZLQGLQJ SDUDPHWHUV 7KH ZLQGLQJ $
VHOHFWHGLQVWHSZLOOUHVXOWLQDSHDN
FXUUHQW PDJQLWXGH RI  R] LQ
R] LQ$ RU $ $JDLQ FRQVLGHULQJ
PRWRU HI¿FLHQFLHV D FRQWUROOHU ZLWK D
SHDN UDWLQJ DW OHDVW  KLJKHU WKDQ
WKH FDOFXODWLRQ YDOXH RU DERXW $
7KH KLJK DFFHOHUDWLRQ VLQJOH VSHHG
DSSOLFDWLRQ DOVR HQDEOHV XVH RI WZR
TXDGUDQWFRQWURO
SURYLGHVSRVLWLYHWRUTXHFRQWUROLQWZR 6HF6HF 5DG6HF
GLUHFWLRQV FORFNZLVH DQG FRXQWHU &3RLQWWR3RLQW3RVLWLRQLQJ
FORFNZLVH 7KH IRXUTXDGUDQW XQLW 6WHS   3HDN 7RUTXH &DOFXODWLRQ ,W
SURYLGHVSRVLWLYHDQGQHJDWLYHWRUTXH
LQERWKGLUHFWLRQV)L[HGVSHHGRSHUD
WLRQDSSOLFDWLRQVHQDEOHXVHRIWKHOHVV
ZDV VHHQ LQ (TXDWLRQ  WKDW SHDN $SSOLFDWLRQ
WRUTXHLVWKHVXPRIWKHWRUTXHGXHWR
LQHUWLD ORDG DQG IULFWLRQ 6LQFH ORDG 7KHSRLQWWRSRLQWSRVLWLRQLQJDSSOLFD
H[SHQVLYHWZRTXDGUDQWWHFKQRORJ\
%+LJK$FFHOHUDWLRQ5DWH
XVXDOO\ ZLQGDJH DQG IULFWLRQ WRUTXH WLRQ LV E\ IDU WKH PRVW FRPSOH[ RI DOO
LQ DSSOLFDWLRQV VXFK DV GLVN FHUWL¿HUV DSSOLFDWLRQV QRW MXVW IURP WKH VWDQG
DUHRIWHQQHJOLJLEOHWKHPRWRUPD\EH SRLQW RI V\VWHP LQWHJUDWLRQ DQG ORDG
VHOHFWHGEDVHGRQWKHSURGXFWRILQHU FRPSHQVDWLRQEXWEHFDXVHRIWKHGLI
WLDDQGDFFHOHUDWLRQDORQH ¿FXOW\LQHVWLPDWLQJDQDYHUDJHYHORF
LW\SUR¿OHRUGXW\F\FOHLQSUDFWLFH

$SSOLFDWLRQ 7S LQHUWLDDFFHOHUDWLRQUDWH 
7KH UHPDLQGHU RI WKLV VHFWLRQ GH
GLVNLQHUWLDFKXFNLQHUWLDURWRU VFULEHV¿YHEDVLFSRZHUWUDQVPLVVLRQ
&HQWULIXJHV 0DVV 6WRUDJH 'LVN LQHUWLD DFFHOHUDWLRQ   PHFKDQLFDO FRQ¿JXUDWLRQV (TXDWLRQV
&HUWL¿HUV%XUQLVKHUV:DIHU6SLQQHUV    URWRU R]LQ 6HF  VSHFL¿F WR HDFK FRQ¿JXUDWLRQ DUH
5DG6HF SURYLGHG WR HQDEOH GHWHUPLQDWLRQ RI
,Q WKHVH DSSOLFDWLRQV WKH PRWRU LV WKH PRWRU SHUIRUPDQFH UHTXLUHG WR
VHOHFWHG WR DFFHOHUDWH WKH ORDG WR D ,JQRULQJURWRULQHUWLDIRUQRZ HIIHFW D SRLQWWRSRLQW PRYH 2QFH
GHVLUHGRSHUDWLQJVSHHGLQDVSHFL¿HG GHWHUPLQHG PRYH VSHHG UHÀHFWHG
DFFHOHUDWLRQWLPH2QFHDWVSHHGWKH 7S   R] LQ 6HF [  WRUTXH DQG UHÀHFWHG LQHUWLD PD\ EH
PRWRUQHHGVWRSURYLGHOLWWOHWRUTXHWR
NHHSWKHORDGLQPRWLRQ,QSXWYROWDJH
DFFHOHUDWLRQUDWHORDGDQGPRWRULQHU
WLDDQGVSHHGRIRSHUDWLRQDUHWKHSD
UDPHWHUVWREHFRQVLGHUHGDVVKRZQ
LQWKHIROORZLQJGLVNFHUWL¿HUH[DPSOH
%(,.LPFR0DJQHWLFV'LYLVLRQ
5DG6HF R]LQ
6WHS   0RWRU 6HOHFWLRQ $ PRWRU
ZLWKDSHDNWRUTXHUDWLQJKLJKHUWKDQ
WKHYDOXHFDOFXODWHGLQ6WHSVKRXOG
EH VHOHFWHG $JDLQ UHIHUULQJ EDFN WR
7DEOHPRGHO',1KDVDSHDN
XVHG WR FDOFXODWH WKH SHDN WRUTXH
506 WRUTXH DQG VSHHG RI RSHUDWLRQ
PRWRUVHOHFWLRQSDUDPHWHUVGLVFXVVHG
RQ SDJH  DQG  7KH VHFWLRQ ZLOO
FRQFOXGHZLWKDQH[DPSOHRIDFKHPL
FDO HWFKLQJSODWLQJ SURFHVV UHTXLULQJ
SRLQWWRSRLQWSRVLWLRQLQJFDSDELOLWLHV
3DJH
General Parameters A. Configuration No. 1: B. Configuration No. 2:
Gear Reduction Mechanics Timing Belt Mechanics
JL = Load inertia (oz. in. Sec ) 2

JM = Motor inertia (oz. in. Sec2) ωM JMG JLG ωL R MP

JB = Belt inertia (oz. in. Sec2) JM LOAD
ωM
WL = Load weight (oz.) JL,TL,TF JM
FG = Force due to gravity (oz.) R MG
FP = Push/Pull force (oz.) R LG JB
WB = Belt weight (oz.) ωL
TL = Load torque (oz. in.) Additional application specific pa- J LP
LOAD

TF = Friction torque (oz. in.) rameters TL,TF,JL

E = Power transmission efficiency

JGB = Gear Box Inertia
(%/100) R LP
JLG = Load gear inertia (oz. in.
g = Acceleration of gravity Additional application specific
Sec2)
(386 in./Sec2) parameters
JMG = Motor gear inertia (oz. in.
P = Leadscrew pitch
Sec2)
(Revolutions/inch) JLP = Load pulley inertia (oz. in.
RLG = Load gear radius (in.) Sec2)
μ = Coefficient of friction (%/100)
RMG = Motor gear radius (in.) JMP = Motor pulley inertia (oz. in.
ωM = Rotational velocity (RPM) at
G = Reduction ratio, RLG/RMG Sec2)
motor shaft
or rated gear box ratio RLP = Load pulley radius (in.)
ωL = Rotational velocity (RPM) at
load shaft RMP = Motor pulley radius (in.)
At Motor Reflected to G = Reduction ratio, RLP/RMP
ν = Average move velocity Parameter Shaft Motor Shaft
(inches/min) TL + TF
Torque, T N/A At Motor Reflected to
GE
Parameter Shaft Motor Shaft
Speed, ωM N/A ωLG TL + TF
Torque, T N/A
Inertia, J GE
VERTICAL AND

JL + JLG
TRANSLATIONAL
DRIVE

discrete JM + JMG
LINEAR BEARINGS gears G2E Speed, ωM N/A ωLG
WL

SUPPORT
Inertia, J JL + JLP
Inertia, JM + JGB JL/G2E
ASSEMBLY

at motor JM+JMP+JB
gear box shaft G2E
CHEMICAL BATH
CHAMBERS

PINION
RACK

FIGURE 12
FIGURE 13
Example: Figure 12 illustrates equip-
µWLT + FP +Fg
ment used in a chemical etching/ T= (RP)
plating process E
(0.004)(4,000 oz) + 160 oz + 0
Drive = Motor with a 10:1 Reduction = 1.5”= 293 oz in.
gear head (E=0.80), inertia, JGB = 0.04 0.90
oz. in. Sec2, pinion radius, Rp = 1.5”,
pinion material = stainless steel, 0.5” ν (24”/1 Sec)(60 Sec/Min)
ωL = =
thick. (Rack and pinion efficiency = 2πRP (2πRad/Rev)(1.5 in.)
0.90). =153 RPM, but
Weight = 4,000 oz., D = 24” move for a trapezoidal move, ωmax= 3/2ωTRAP
on linear bearings; move time = 1 therefore, ωmax = 230 RPM
Sec. Velocity Profile: Trapezoidal for
controlled accel. and controlled decel.
Duty cycle = 1 Sec move, 8 sec rest, J= ( EW• g)R
LT
P
2
+ JP
repeated indefinitely. VSource= 36V DC.
4,000 oz.
= (1.5”)2 + JP
Step 1 - Break up the analysis into 0.90(386 in./Sec2)
components - (1) Calculate values
of parameters at the pinion, and (2) = 26 oz. in. Sec2 + JP
values reflected to the motor shaft,
through the gear head. From page 6, Jp = (0.0041 Sec2/in)
(1.5”)4 (0.5”) (4.48 oz./in3)
Calculation of load parameters at = 0.046 oz. in. Sec2 - i.e., negligible.
the pinion: Figure 13D describes the
equations pertaining to a rack and Step 2 - Calculations of total param-
pinion system. eters at motor shaft: The gear box
equations shown in Figure 13B may
be used for these calculations.
TL + TF 293 + 0 oz. in.
T= = = 33 oz. in.
GE 10 (.9)
JL
J= + JM + JGB
G2E
= 26 oz. 2in. Sec + 0.04 oz. in. Sec2 + JM
2
(10) .9
= 0.33 oz. in. Sec2 + JM
ωM = (230 RPM) 10 = 2,300 RPM
Step 3 - Calculation of peak torque
requirement: From page 6 we have
TP= TJ + TL + TF = (JL+M)α + TL + TF
= (0.33 oz. in. Sec2 + JM)α + TL + TF,
but α = (2,300 RPM/9.55) / t1 = (241
Rad/Sec)/0.333 Sec = 723 Rad/Sec2,
and TP = (0.33 oz. in. Sec2 + J) (723
Rad/Sec2) + 33 oz. in. + 0 oz. in. ≈ 272
oz. in., assuming motor rotor inertia is
small relative to reflected load inertia.
Step 4 - Calculation of RMS torque re-
quirement: Equation (6) provides the
desired value as follows:
√
TRMS = TP2 t1 + (TL + TF)2 t2 + (TJ - TL - TF)2 t3
t1 + t2 + t3 + t4

Page 10 BEI - Kimco Magnetics Division

 & &RQ¿JXUDWLRQ1R ' &RQ¿JXUDWLRQ1R ( &RQ¿JXUDWLRQ1R
 7DQJHQWLDO/RDG0HFKDQLFV  5DFNDQG3LQLRQ0HFKDQLFV  /HDGVFUHZ0HFKDQLFV

5 0'
W0
: /7 N
W0 -/6763
-0
-0 : /7
-0' :/
W0 -3
:% N -0 3
N
-'
53 $GGLWLRQDODSSOLFDWLRQVSHFL¿F 
5' SDUDPHWHUV

:/7  :HLJKWRI/RDGSOXV 
$GGLWLRQDODSSOLFDWLRQVSHFL¿F  $GGLWLRQDODSSOLFDWLRQVSHFL¿F    OHDGVFUHZWDEOHDVVHPEO\
SDUDPHWHUV SDUDPHWHUV   R]
3  /HDGVFUHZ3LWFK5HYLQ
-0'  'ULYHSXOOH\PRWRUHQG :/7  :HLJKWRI/RDGSOXVWUDFN -/6 /HDGVFUHZ,QHUWLDR]LQ
  ,QHUWLDR]LQ6HF   R]   6HF
-' 'ULYHQSXOOH\LQHUWLDR]LQ -3 3LQLRQLQHUWLDR]LQ6HF 763 /HDGVFUHZSUHORDGWRUTXH
  6HF 53 3LQLRQUDGLXVLQ   R]LQ 
50' 'ULYHSXOOH\UDGLXVLQ  
5 ' 'ULYHQSXOOH\UDGLXVLQ  $W0RWRU 5HÀHFWHGWR
   $W0RWRU 5HÀHFWHGWR 3DUDPHWHU6KDIW 0RWRU6KDIW
3DUDPHWHU6KDIW 0RWRU6KDIW P:/7)3)J
 $W0RWRU 5HÀHFWHGWR P:/7)3)J 7RUTXH7 1$
3DUDPHWHU6KDIW 0RWRU6KDIW 7RUTXH7 1$ ‡53   S3(
(
P:/:%)3 )J    6SHHGZ0 1$ Q3
7RUTXH71$ (
‡50'  Q
   6SHHGZ0 1$ S5 :/7 

6SHHGZ
  1$ Q
S50'
   :
3
,QHUWLD--/6-0
 
  
(‡JS3

0
,QHUWLD--0-3
 

 
/7

53
(‡J
 
,QHUWLD--0-0'-' :(‡J
:
5
/ % 
0'


  
)3PD\KDYHDSRVLWLYHRUQHJDWLYHYDOXH 
)JDSSOLHVRQO\WRYHUWLFDOV\VWHPVZKHUHJUDYLW\
DFWVRQDVXVSHQGHGORDG7KLVYDOXHZLOOEHQHJD
WLYHLIPRWLRQLVZLWKJUDYLW\SRVLWLYHLIPRWLRQLV
DJDLQVWJUDYLW\

FXUUHQWRXWSXWVRI$DQG$UHVSHF
 ¥
 R]LQ6HFR]LQ6HFR]LQ6HF R]LQ
 6HF6HF6HF6HF
WLYHO\

,Q PRVW RI WKH HTXDWLRQV SURYLGHG

6WHS   $SSOLFDWLRQ RI  VDIHW\ 6WHS&RPSDULVRQRIUHÀHFWHGORDG DERYH IULFWLRQ ZDV HVWLPDWHG IURP
PDUJLQV LQHUWLD WR URWRU LQHUWLD :H VDZ WKDW DSSURSULDWH FRHI¿FLHQWV RI IULFWLRQ ,Q
WKH UHÀHFWHG ORDG LQHUWLD ZDV FDOFX SUDFWLFH LW LV GHVLUDEOH WR PHDVXUH
;7S R]LQ R]LQ
;7506 R]LQ; 
R]LQ
6WHS0RWRUDQGZLQGLQJVHOHFWLRQ
ODWHG DW D YDOXH RI  R] LQ 6HF
7KH ',1 KDV D URWRU LQHUWLD RI
R]LQ6HF7KHUDWLRLVWKHUH
IRUH ZKLFKLVVOLJKWO\
KLJKHU WKDQ WKH UHFRPPHQGHG YDOXH
7KH V\VWHP PD\ SHUIRUP DGHTXDWHO\
DFWXDO IULFWLRQ OHYHOV ZKHQHYHU SRV
VLEOH )ULFWLRQ LV D SDUDPHWHU WKDW LV
RIWHQ XQGHUHVWLPDWHG LQ YDOXH EXW
LV SDUDPRXQW WR SURSHU PRWRU VHOHF
WLRQ 0HDVXUHG IULFWLRQ YDOXHV ZRXOG
UHSODFH P: LQ DOO RI WKH SUHFHGLQJ
5HIHUULQJWR7DEOHLWDSSHDUVPRGHO
',1 PHHWV WKH SHDN DQG 506
WRUTXHUHTXLUHPHQWV/RRNLQJDWZLQG
LQJ$
XQGHUWKHVHFRQGLWLRQV,IQRWDVROX HTXDWLRQV
WLRQPD\EHXWLOL]DWLRQRIDPRWRUZLWK
DKLJKHUURWRULQHUWLD$QRWKHUVROXWLRQ
PD\ EH GLUHFW FRXSOLQJ RI WKH JHDU
KHDG WR WKH PRWRU VKDIW WKHUHE\ LQ
9VRXUFH.EZ 995DG FUHDVLQJ WKH WRWDO VKDIW LQHUWLD DOPRVW
6HF5DG6HF 9 WRWKHOHYHORIWKHUHÀHFWHGORDGLQHUWLD
(OHFWULFDO PRGL¿FDWLRQV WR WKH FRQWURO
&XUUHQWDYDLODEOHWRSURGXFHWRUTXH  FLUFXLWU\PD\DOVRKHOSUHGXFHWKHHI
950 9: $ IHFWVRILQHUWLDPLVPDWFKHV+RZHYHU
WKLV LV D VROXWLRQ XVXDOO\ HPSOR\HG
&XUUHQWUHTXLUHGWRGULYHORDG ³DIWHUWKHIDFW´
7KH GDWD VSHFL¿FDWLRQV DQG HOHFWULFDO
SDUDPHWHUV SUHVHQWHG LQ WKLV JXLGH LOOXV
WUDWHW\SLFDODSSOLFDWLRQVDUHIRUUHIHUHQFH
RQO\ DQG DUH VXEMHFW WR FKDQJH ZLWKRXW
QRWLFH $OWKRXJK HIIRUWV KDYH EHHQ PDGH
WR LQVXUH WKH DFFXUDF\ RI WKH LQIRUPDWLRQ
SHDN R]LQR]LQ$ $ JLYHQQRWKLQJKHUHLQLVLQWHQGHGRUVKRXOG
506 R]LQR]LQ$ $ 6WHS&RQWUROOHU6HOHFWLRQ EHFRQVWUXHGDVDZDUUDQW\RIWKHSHUIRU
PDQFHRUGHVLJQRI%(,SURGXFWV3URGXFW
&RQFOXVLRQ:LQGLQJ$LVDJRRG 7KLV DSSOLFDWLRQ UHTXLUHV D 9 '& DQG GDWD ZDUUDQWLHV DUH GHVFULEHG VROHO\
PDWFK UDWHG GULYH ZLWK FRQWLQXRXV DQG SHDN LQ%(,FRQWUDFWXDOGRFXPHQWV

%(,.LPFR0DJQHWLFV'LYLVLRQ 3DJH
7:2:,5(%586+/(66'&027256
7+(1(;7*(1(5$7,21
HOHFWURQLFV LV LQ IDFW D PXFK PRUH T
,1752'8&7,21 FRVWHIIHFWLYHVROXWLRQVLQFHLWZLOOODVW
3RXQGIRUSRXQG WKH W\SLFDO ³LQVLGH
WKHHQWLUHOLIHRIWKHSURGXFW
)) )
RXW´ EUXVKOHVV '& %/'& PRWRU
SURYLGHV PRUH RXWSXW SRZHU JUHDWHU
OLIH DQG UHOLDELOLW\ KLJKHU RSHUDWLQJ
VSHHGV FOHDQHU RSHUDWLRQ HFW WKDQ
LWVWUDGLWLRQDOEUXVKW\SH30'&PR
7KHPDLQWHFKQLFDOLVVXHRIUHSODFLQJ
D EUXVKW\SH PRWRU ZLWK LWV EUXVK W
OHVV FRXQWHUSDUW LV WKH FRPPXWDWLRQ
HOHFWURQLFV FRQVLGHUDWLRQ 7KH W\SLFDO
))) )6
%/'& PRWRU LV DQ HLJKWZLUH GHYLFH
WRUFRXQWHUSDUW+LJKWRUTXHWRLQHUWLD
UDWLRVDVWDWLRQDU\DUPDWXUHDURXQGD
URWDWLQJSHUPDQHQWPDJQHWDVVHPEO\
LQVWHDG RI D VWDWLRQDU\ SHUPDQHQW
PDJQHW DVVHPEO\ DURXQG D URWDWLQJ
5HSODFLQJ WKH WZRZLUH 30'& PRWRU
ZLWKLWVHLJKWZLUHFRXQWHUSDUWUHTXLUHV
DGGLWLRQDO HOHFWURQLF FLUFXLWU\ DQG DG
GLWLRQDOFRQVLGHUDWLRQVDWWKHV\VWHPV ),*85(
OHYHO7KHVHDQGRWKHUUHODWHGIDFWRUV 7ZR&RRUGLQDWH
DUPDWXUHDQGRIFRXUVHHOLPLQDWLRQ
RIWKHEUXVKHVPDNHWKH%/'&PR
WRUWKHSUHIHUUHGFKRLFHZKHQLWFRPHV
WR SHUIRUPDQFH FRQVLGHUDWLRQV 7KH
%/'& PRWRU LV DOVR WKH SUHIHUUHG
FKRLFH IURP D FRVW FRQVLGHUDWLRQ
ZKHQ DSSOLFDWLRQV DUH HYDOXDWHG RQ
D WRWDO FRVW LH RYHU WKH OLIH RI WKH
KDYH OHG WR WKH GHYHORSPHQW RI WKH
WZRZLUH%/'&PRWRUD%/'&PRWRU
WKDW FRQWDLQV LQWHJUDO HOHFWURQLF FRP
PXWDWLRQRUGULYHFRQWUROFLUFXLWU\7KLV
W\SHRIPRWRUKDVEHHQPDQXIDFWXUHG
DW %(, .LPFR 0DJQHWLFV 'LYLVLRQ IRU
RYHUDGHFDGH7KHSUHVHQWWXWRULDOLV
SURYLGHGWRIDPLOLDUL]HWKHUHDGHUZLWK
7RUTXH9V6SHHG6\VWHP
)LJXUH  VKRZV D WZRFRRUGLQDWH
V\VWHP LQ ZKLFK WKH KRUL]RQWDO D[LV
UHSUHVHQWV PRWRU VKDIW VSHHG DQG
WKHYHUWLFDOD[LVUHSUHVHQWVWKHRXWSXW
SURGXFW UDWKHU WKDQ XSIURQW FRVW
EDVLV)RUH[DPSOHDEUXVKW\SHPR
WRUZKLFKVHOOVIRUDURXQGWR
PD\ KDYH D %/'& HTXLYDOHQW SULFHG
DW DERXW   ZLWKRXW HOHFWURQLFV
RUZLWKHOHFWURQLFV&OHDUO\WKH
WRPRWRUDSSHDUVWRFRVWOHVV
WKDQWKH%/'&HTXLYDOHQW+RZHYHU
WKLV LV WKH XSIURQW FRVW RI WKH PRWRU
QRWWKHWRWDOFRVW,IWKHEUXVKHVRQO\
ODVWKRXUVDQGWKHH[SHFWHGOLIH
RI WKH SURGXFW ZKLFK XVHV WKH PRWRU
LV  KRXUV WKHQ WKH PRWRU KDV
WR EH UHSODFHG WHQ WLPHV IRU D WRWDO
FRVW RI  WR  QRW WR PHQWLRQ
WKH W\SHV RI WZRZLUH %/'& PRWRUV
DYDLODEOH LQ WKH PDUNHWSODFH YDULD
WLRQVWKHUHRIDQGJXLGHOLQHVIRUDSSO\
LQJWKHVHSURGXFWV
7:248$'5$1796
)28548$'5$17
&21752/
,QRUGHUWRJHWDEHWWHUDSSUHFLDWLRQRI
WKHWZRZLUH%/'&PRWRUDSSOLFDWLRQ
WRUTXH  ,Q '& PRWRUV RXWSXW WRUTXH
LV SURSRUWLRQDO WR FXUUHQW DQG RXWSXW
VSHHG SURSRUWLRQDO WR YROWDJH  0R
WRU GULYH HOHFWURQLFV WKDW FDQ SURYLGH
SRVLWLYHFXUUHQWDQGSRVLWLYHRUQHJD
WLYHYROWDJHWRWKHPRWRUWHUPLQDOVDUH
WKHUHIRUH FDOOHG WZRTXDGUDQW GULYHV
VLQFH WKH\ RSHUDWH LQ TXDGUDQWV ,
DQG,,'ULYHVWKDWSURYLGHSRVLWLYHRU
QHJDWLYHFXUUHQWDQGSRVLWLYHRUQHJD
WLYHYROWDJHWRWKHPRWRUWHUPLQDOVDUH
FDOOHGIRXUTXDGUDQWGULYHVVLQFHWKH\
RSHUDWH LQ DOO IRXU TXDGUDQWV RI WKH
WZRFRRUGLQDWHV\VWHP
GRZQWLPHDQGPDLQWHQDQFHFRVWV,W LWLV¿UVWQHFHVVDU\WRXQGHUVWDQGWKH
LVHDV\WRVHHWKDWWKH%/'&PR GLIIHUHQW ZD\V 30'& DQGRU %/'&
WRURUHYHQWKH%/'&PRWRUZLWK PRWRUVPD\EHFRQWUROOHG

$03/,),(5 $03/,),(5
&20
9 ,)1(('(' 9 ,)1(('('
087$
 02725  7,21 02725
  (/(&7

+$//6

)(('%$&./223 (1&2'(5
7$&+20(7(5
255(62/9(5 )(('%$&./223 (1&2'(5
,)1(('(' 7$&+20(7(5
255(62/9(5
,)1(('('

),*85($ ),*85(%
%ORFN'LDJUDPRID30'&0RWRU %ORFN'LDJUDPRID%/'&0RWRU

3DJH %(,.LPFR0DJQHWLFV'LYLVLRQ
 $03/,),(5 $03/,),(5
&20
9 ,)1(('(' A 9'&
9 ,)1(('(' A 9'&
087$
 02725  7,21 02725
  (/(&7

+$//6

12)(('%$&./223

12)(('%$&./223

),*85($ ),*85(%
%ORFN'LDJUDPRID30'&0RWRU'ULYHQ %ORFN'LDJUDPRID%/'&0RWRU'ULYHQ
LQ2SHQ/RRS0RGH LQ2SHQ/RRS0RGH

$SSOLFDWLRQV DERXQG IRU WZRTXDG
UDQW DQG IRXUTXDGUDQW GULYHV )RU
H[DPSOH D WXUQWDEOH WKDW QHHGV
WR EH URWDWHG RYHU D UDQJH RI ¿[HG
VSHHGV FDQ EH FRQWUROOHG ZLWK WKH
WZRTXDGUDQWV\VWHP7KHIULFWLRQGXH
WRZLQGDJHEHDULQJVHWFFRQVWDQWO\
DSSOLHV D GUDJ RU QHJDWLYH WRUTXH WR
WKHV\VWHPFDXVLQJWKHWDEOHWRVORZ
GRZQDQGHYHQWXDOO\VWRSLQWKHDE
VHQFH RI D SRVLWLYH FRQWUROOHG WRUTXH
3RVLWLYH WRUTXH LV QHHGHG WR NHHS
PRWRU ZLWK D IHHGEDFN GHYLFH WKDW
PHDVXUHVWKHURWDWLRQDOYHORFLW\RIWKH
PRWRU VKDIW $ WDEOH WKDW DOVR QHHGV
WR EH SRVLWLRQHG ZRXOG QHHG D IHHG
EDFNGHYLFH WKDW VHQVHV URWDWLRQDO
YHORFLW\ DQG DQJXODU SRVLWLRQ RI WKH
VKDIW (LWKHU V\VWHP LV UHIHUUHG WR DV
D ³FORVHGORRS´ V\VWHP DV LOOXVWUDWHG
LQ)LJXUH
)LJXUH  GHSLFWV D V\VWHP ,Q ZKLFK
FRQWURORIWKHPRWRUVKDIWLVQRWQHFHV
LQWHUIDFH UHTXLUHPHQWV DQG WKH ORFD
WLRQRIWKHFRPPXWDWLRQHOHFWURQLFV
7KHHLJKWZLUHV\VWHPVKRZQLQ)LJXUH
$LQFOXGHVFRPPXWDWLRQHOHFWURQLFV
WKDW DUH SURYLGHG DV D VHSDUDWH LWHP
VRPHWLPHVLQDVHSDUDWHHQFORVXUH
DQG VRPHWLPHV DV D ERDUG WKDW LV WR
EHPRXQWHGVRPHZKHUHLQWKHHTXLS
PHQW 7KLV W\SH RI V\VWHP DOVR LQ
FOXGHVD%/'&PRWRUZLWKHLJKWOHDGV
7KUHH RI WKH OHDGV DUH IRU WKH SRZHU
WKH WXUQWDEOH URWDWLQJ DW WKH GHVLUHG VDU\7KLVW\SHRIV\VWHPUHTXLUHVQR WR WKH WKUHH ZLQGLQJV RU SKDVHV
VSHHG LQ RQH RU WKH RWKHU GLUHFWLRQ IHHGEDFN GHYLFH RWKHU WKDQ IRU FRP 7KHRWKHU¿YHOHDGVDUHIRUWKHWKUHH
LHFORFNZLVHRUFRXQWHUFORFNZLVH
,IRQWKHRWKHUKDQGLWLVQHFHVVDU\WR
VWRSWKHWXUQWDEOHIDVWHUWKDQIULFWLRQDO
WRUTXHDOORZVRULIWKHWXUQWDEOHPXVW
EHVWRSSHGDQGKHOGDWD¿[HGDQJXODU
SRVLWLRQ WKHQ WKH IRXUTXDGUDQW GULYH
LV WKH SURSHU VROXWLRQ ,Q WKLV FDVH
QHJDWLYHWRUTXHLVXVHGWRGHFHOHUDWH
WKHV\VWHPDQGSRVLWLYHDQGQHJDWLYH
WRUTXHLVXVHGWRKROGWKHWXUQWDEOHLQ
PXWDWLRQ SXUSRVHV 6LQFH WKH IHHG
EDFNORRSLVQRWFORVHGWKLVV\VWHPLV
FDOOHG³RSHQORRS´
7<3(62)7:2:,5(
%/'&027256
7KH WHUP ³WZRZLUH´ UHIHUV WR WKH WZR
OHDGVQHHGHGWRRSHUDWHD'&PRWRU
+DOO (IIHFW GHYLFH RXWSXWV WKH +DOO
YROWDJH VXSSO\ DQG WKH +DOO YROWDJH
UHWXUQ7KH+DOO(IIHFWGHYLFHVVHQVH
URWRU SRVLWLRQ 7KHLU RXWSXW LV XVHG
WR FRPPXWDWH WKH ³EUXVKOHVV´ PRWRU
WKURXJKWKHXVHRIFRPPHUFLDOO\DYDLO
DEOH FRPPXWDWLRQ ,&¶V 7KHVH FKLSV
GHFRGHWKHVLJQDOVIURPWKH+DOOVDQG
SURYLGH WKH ORJLF ZLWK ZKLFK WKH FXU
UHQWFDUU\LQJ WUDQVLVWRUV DUH VZLWFKHG
SODFHDJDLQVWGLVWXUELQJIRUFHV 7KHVH OHDGV LQFOXGH D SRZHU VXSSO\ RQ DQG RII IRU SURSHU SKDVLQJ RI WKH
23(1/22396&/26('
/223&21752/
$VDOOXGHGWRLQWKHSUHYLRXVVHFWLRQLW
LVVRPHWLPHVQHFHVVDU\WRFRQWUROWKH
URWDWLRQDOVSHHGDQGRUSRVLWLRQRIWKH
PRWRUVKDIWDQGDWWDFKHGORDG
)LJXUH  GHSLFWV D V\VWHP LQ ZKLFK
WKHUH LV FRQWURO RI WKH VKDIW RXWSXW
7KLV W\SH RI V\VWHP UHTXLUHV D IHHG
EDFNGHYLFHZKLFKVHQVHVWKHVSHFL¿F
SDUDPHWHUWKDWQHHGVWREHFRQWUROOHG
5HIHUULQJ WR WKH WXUQWDEOH H[DPSOH
SUHYLRXVO\ GHVFULEHG WKH WDEOH WKDW
UXQV DW D VHW VSHHG ZRXOG QHHG D
%(,.LPFR0DJQHWLFV'LYLVLRQ
/HDG W\SLFDOO\ 9 '& RU 9 '&
DQG D SRZHU UHWXUQ OHDG 7ZRZLUH
%/'& PRWRUV DUH JHQHUDOO\ DYDLODEOH
LQDYDULHW\RIFRQ¿JXUDWLRQVLQFOXGLQJ
WKH FRQ¿JXUDWLRQV GHVFULEHG DERYH
 RSHQORRS FORVHGORRS WZR TXDG
UDQWDQGIRXUTXDGUDQWFRQWURODQG
FRPELQDWLRQV WKHUHRI 5HJDUGOHVV RI
FRQ¿JXUDWLRQWKHPDLQDWWULEXWHRIWKH
WZRZLUH %/'& PRWRU LV LWV HOHJDQWO\
VLPSOHWZRZLUHKRRNXS)LJXUHV$
 % LOOXVWUDWH WKH GLIIHUHQFH EHWZHHQ
FORVHGORRS%/'&PRWRUV\VWHPVWKDW
XWLOL]HVWDQGDUGHLJKWZLUHPRWRUVDQG
WKRVHWKDWXVHWZRZLUHPRWRUV
7KH SULPDU\ GLIIHUHQFHV EHWZHHQ
WKHVH WZR V\VWHPV DUH WKH FXVWRPHU
PRWRU
7KHWZRZLUHV\VWHPVKRZQLQ)LJXUH
% KDV FRPPXWDWLRQ HOHFWURQLFV
WKDW DUH LQWHJUDO WR WKH %/'& PRWRU
HQFORVXUH ,Q WKLV V\VWHP WZR OHDGV
H[LW WKH PRWRU  RQH SRZHU VXSSO\
OHDG DQG RQH SRZHU UHWXUQ OHDG $OO
RI WKH PRWRUFRPPXWDWLRQ HOHFWURQLFV
FRQQHFWLRQVDUHSHUIRUPHGDWWKHPR
WRU PDQXIDFWXULQJ IDFLOLW\ PDNLQJ WKH
FXVWRPHULQWHUIDFHDVSHFWDVQDS
3DJH
 &86720(5
,17(5)$&(
&20
087$
 7,21
 (/(&7
),*85($
%ORFN'LDJUDPRIDQ(LJKW:LUH%/'&6\VWHP
7KHUHDUHPDQ\YDULDWLRQVRIWKH³WZR
ZLUH´%/'&PRWRUSUHVHQWO\DYDLODEOH
LQ WKH PDUNHWSODFH  +RZHYHU WKH
PRVW SRSXODU DQG PRVW ZLGHO\ XVHG
FRQ¿JXUDWLRQ LV WKH WZRTXDGUDQW
RSHQ RU FORVHGORRS VSHHG FRQWURO
SDFNDJH 6SHHG PD\ EH FRQWUROOHG
ZLWK DQ RQERDUG SRWHQWLRPHWHU RU
E\EULQJLQJRXWDWKLUGZLUHIRUUHPRWH
&86720(5
,17(5)$&(
02725  (/(&7 02725

+$//6 +$//6
),*85(%
%ORFN'LDJUDPRID7ZR:LUH%/'&6\VWHP
$33/<,1*7:2:,5( DQG GHFUHDVHV ZLWK LQFUHDVLQJ ORDG
,QFORVHGORRSVSHHGFRQWUROV\VWHPV
%/'&027256 KRZHYHU LW LV GHVLUDEOH WR PDLQWDLQ D
VHW VSHHG UHJDUGOHVV RI ORDG YDULD
2QH RI WKH PDMRU FRQVLGHUDWLRQV LQ WLRQ ,Q WKHVH V\VWHPV WKH WZRZLUH
DSSO\LQJ WZRZLUH %/'& PRWRUV LV PRWRUFDQVRPHWLPHVEHGHVLJQHGWR
KHDW JHQHUDWLRQ 7KH WKUHH SULPDU\ XVHWKHRXWSXWIURPWKH+DOOVQRWRQO\
VRXUFHV RI KHDW DUH ,5 ORVVHV LQ WKH WRFRPPXWDWHWKHPRWRUEXWDVDIHHG
PRWRU ZLQGLQJ HGG\ FXUUHQW ORVVHV EDFN IUHTXHQF\ IRU VSHHG UHJXODWLRQ
VSHHG DGMXVW7KH WKLUG ZLUH PD\ DF
FHSW D 9 DQDORJ LQSXW VLJQDO WR
VHWDVSHHGZKLFKLQFUHDVHVZLWKWKH
PDJQLWXGH RI WKH LQSXW VLJQDO $GGL
WLRQDO ZLUHV RU GLJLWDO FRPPXQLFDWLRQ
SRUWV FRXOG DOVR EH SURYLGHG WR DGG
IHDWXUHVUHVXOWLQJLQZKDWWKHLQGXVWU\
KDV GXEEHG D ³6PDUW´ PRWRU 8VH RI
WKHVH RSWLRQV RU FRQ¿JXUDWLRQV GH
SHQGV RQ WKH GHVLUHG RYHUDOO OHYHO RI
FRQWURO2IFRXUVHWKHUHDUHDOVRWKH
HYHUSUHVHQW FRVWYVSHUIRUPDQFH
WUDGHRII FRQVLGHUDWLRQV 7KH PDLQ
SRLQW WR EHDU LQ PLQG LV WKDW ZLWK LWV
LQWHJUDO HOHFWURQLFV SDFNDJLQJ WKH
WZRZLUH %/'& PRWRU DFFHSWV DQG
RSHUDWHV RII RI D VWUDLJKW '& VXSSO\
MXVW OLNH LWV WZRZLUH EUXVKW\SH '&
FRXQWHUSDUW
3DJH
LQ WKH PRWRU VWDFN LH FRUH ORVVHV
DQG VZLWFKLQJ ORVVHV LQ WKH HOHFWURQ
LFV 7KH ,5 ORVVHV DQG FRUH ORVVHV
HOHYDWH WKH PRWRU FDVH WHPSHUDWXUH
DV ZHOO DV WKH WHPSHUDWXUH RI WKH
HOHFWURQLFV &RQVHTXHQWO\ WKHUH LV D
SUDFWLFDOOLPLWDWLRQRQWKHVL]HRI%/'&
PRWRUV WKDW VKRXOG EH FRQVLGHUHG IRU
WZRZLUHFRQWURO)RUPRWRUVZLWKFRP
PHUFLDO JUDGH FRPSRQHQWV WZRZLUH
FRQWURO ZRUNV EHVW LQ DSSOLFDWLRQV
ZLWK SHUIRUPDQFH UHTXLUHPHQWV XS WR
DERXW  KRUVHSRZHU 0RWRUV ZLWK
PLOLWDU\ JUDGH RU KLJK WHPSHUDWXUH
K\EULGL]HG HOHFWURQLFV SDFNDJHV ZLOO
RIFRXUVHEHVXLWDEOHIRUXVHDWKLJKHU
KRUVHSRZHUUDQJHV
$QRWKHU FRQVLGHUDWLRQ LQ DSSO\LQJ
WZRZLUH %/'& PRWRUV LV WKH OHYHO RI
VSHHG FRQWURO QHHGHG LQ WKH DSSOLFD
WLRQ ,Q RSHQORRS V\VWHPV WKHUH LV
QR VSHHG FRQWURO UHTXLUHPHQW +HUH
VSHHGLQFUHDVHVZLWKGHFUHDVLQJORDG
+DOOVSURYLGHDORZHUIUHTXHQF\RXWSXW
FRPSDUHG WR RWKHU IHHGEDFN GHYLFHV
VXFKDVVKDIWHQFRGHUVDQGUHVROYHUV
$V VXFK WKHUH LV D SUDFWLFDO ORZHQG
VSHHGOLPLWDWZKLFKWKHWZRZLUHPR
WRU VKRXOG EH XVHG WR FRQWURO VSHHG
7KLVOLPLWLVDERXW5307KHUHLV
DOVR D SHUFHQWDJH VSHHG UHJXODWLRQ
OLPLWWRWKHKDOOEDVHGFRQWURO7KH+DOO
RXWSXWFDQEHXVHGWRUHJXODWHVSHHG
WR DERXW “ WR  RI VHW VSHHG LQ
V\VWHPV ZLWK YDU\LQJ ORDGV RU DERXW
“ WR  RI VHW VSHHG LQ V\VWHPV
ZLWKYHU\VWDEOHORDGV7KHJRRGQHZV
LVWKDWWKHVHW\SHVRIDSSOLFDWLRQVDUH
YHU\ FRPPRQ 7KH +DOOEDVHG VSHHG
FRQWUROFLUFXLWLVDQLQH[SHQVLYHZD\WR
UHJXODWH VSHHG ,Q IDFW LW FRPHV IUHH
ZKHQRWKHUIDFWRUVGULYHWKHFKDQJHWR
EUXVKOHVVWHFKQRORJ\DQG+DOOEDVHG
VSHHGUHJXODWLRQLVDQDGHTXDWHVROX
WLRQ
%(,.LPFR0DJQHWLFV'LYLVLRQ
 ),*85(
7ZR:LUH0RWRUV$YDLODEOHIURP%(,.LPFR0DJQHWLFV'LYLVLRQ

%(,2))(5,1*6 TXDGUDQW FRQWURO %(, DOVR RIIHUV D IHU D VLPSOH DSSURDFK LQ FRQYHUWLQJ
SDWHQWHG FRQ¿JXUDWLRQ WKDW RQ VRPH IURP30'&EUXVKW\SHWHFKQRORJ\WR
)LJXUH  VKRZV D VDPSOLQJ RI WKH PRGHOV HQDEOHV FKDQJH RI URWDWLRQDO %/'& WHFKQRORJ\ :KHQ LW FRPHV WR
WZRZLUH DQG YDULDWLRQV WKHUHRI
%/'&PRWRUVDYDLODEOHIURP%(,.LP
FR 0DJQHWLFV 'LYLVLRQ 6L]HV UDQJH
IURP ´ GLDPHWHU WR ´ GLDPHWHU
ZLWK VKDIW RXWSXW SRZHU UDWLQJV UDQJ
LQJ IURP VXEIUDFWLRQDO WR DERXW 
KRUVHSRZHU 7\SLFDO FRQ¿JXUDWLRQV
LQFOXGHRSHQORRSRUFORVHGORRSWZR
*/266$5<
GLUHFWLRQ VLPSO\ E\ UHYHUVLQJ SRODULW\ SURGXFW OLIH UHOLDELOLW\ PDLQWHQDQFH
WRWKHWZRPRWRUOHDGVH[DFWO\DVZLWK FRQWUROODELOLW\XVHULQWHUIDFHVLPSOLFLW\
WKH 30'& PRWRU 7KLV IHDWXUH LV HV DQGWRWDOFRVWWKHWZRZLUH%/'&PR
SHFLDOO\ LPSRUWDQW LQSURGXFW XSJUDGH WRULVFOHDUO\WKHPRWRURIFKRLFH
SURJUDPV ZKHUH VSDFH RU UHVRXUFHV
DUHOLPLWHGDQGDQH[DFWIRUP¿WDQG
IXQFWLRQ UHSODFHPHQW LV GHVLUHG ,Q
VXPPDU\ WZRZLUH %/'& PRWRUV RI
027253$5$0(7(56 0RPHQWRI,QHUWLD-P7KHPRPHQW :,1',1*3$5$0(7(56
RILQHUWLDRIWKHURWDWLQJPHPEHUHTXDO
3HDN 7RUTXH 73  7KH WRUTXH WKDW WR :NJ ZKHUH :  ZHLJKW R] N  :LQGLQJVPD\EHFKDQJHGWRRSWLPL]H
FDQEHSURGXFHGIRUVHFRQGVZLWK UDGLXVRIJ\UDWLRQLQDQGJ DFFHO SDUDPHWHUVRIDJLYHQPRWRUPRGHOIRU
RXWH[FHHGLQJWKHPD[LPXPDOORZDEOH HUDWLRQGXHWRJUDYLW\LQ6HF DSDUWLFXODUUHTXLUHPHQW7KLVPD\EH
ZLQGLQJWHPSHUDWXUH DFFRPSOLVKHG ZLWKRXW FKDQJLQJ WKH
0RWRU &RQVWDQW .P  $ ¿JXUH RI EDVLF PRWRU FRQVWDQWV 7KH ZLQGLQJ
&RQWLQXRXV6WDOO7RUTXH7&67KLV PHULW RI WKH PRWRU 7KH KLJKHU WKH FRQVWDQWVDUHOLVWHGEHORZ
LVWKHDPRXQWRIWRUTXHWKDWFDQVDIHO\ YDOXHIRUDJLYHQYROXPHRIPRWRUWKH
EHSURGXFHGRYHUDQLQGH¿QLWHSHULRG PRUHSRZHUIXOWKHPRWRU 5HVLVWDQFH 50  7KH UHVLVWDQFH
RIWLPHXQGHUDVWDOOHGURWRUFRQGLWLRQ EHWZHHQ DQ\ WZR OLQHV RQ D ELSRODU
7KLVYDOXHLVPHDVXUHGZLWKWKHPRWRU (OHFWULFDO7LPH&RQVWDQW7(7KLV PRWRURUEHWZHHQOLQHDQGQHXWUDORQ
PRXQWHGRQDQDOXPLQXPSODWH´[´ YDOXH LV HTXDO WR /5 LQGXFWDQFH GL DXQLSRODUPRWRU
[´KHDWVLQNWRWKHPD[LPXPDO YLGHG E\ UHVLVWDQFH ,W LV DOVR HTXDO
ORZDEOHWHPSHUDWXUHRIWKHZLQGLQJV WR WKH WLPH LW WDNHV IRU WKH FXUUHQW WR 7RUTXH &RQVWDQW .W  7KH WRUTXH
UHDFK  RI LWV VWHDG\ VWDWH YDOXH WKDWZLOOEHSURGXFHGIRUDJLYHQFXU
ZKHQ WKH ZLQGLQJ LV HQHUJL]HG E\ D UHQWLQSXW
VWHSLQSXWRIYROWDJH
%DFN(0)&RQVWDQW.E7KHJHQ
HUDWHGYROWDJHDVDIXQFWLRQRIVSHHG

%(,.LPFR0DJQHWLFV'LYLVLRQ 3DJH
$%287.,0&20$*1(7,&6
:+(5(027,217(&+12/2*<,6217+(029(
6LQFHLWVIRXQGLQJLQWKHPRYLQJIRUFHRI.LPFR
0DJQHWLFVKDVEHHQLWVFRPPLWPHQWWRDGYDQFLQJPR
WLRQ WHFKQRORJ\ E\ DSSO\LQJ WKH ODWHVW PDJQHWLF FRQ
FHSWV 7KH FRPSDQ\¶V 6DQ 0DUFRV &DOLIRUQLD IDFLOLW\
LV GHGLFDWHG WR WKH GHVLJQ GHYHORSPHQW DQG SURGXF
WLRQ RI KLJKSHUIRUPDQFH PRWLRQ GHYLFHV $V SDUW RI
%(, 7HFKQRORJLHV ,QF .LPFR 0DJQHWLFV GUDZV RQ D
QHWZRUNRIH[SHUWVZRUNLQJLQHYHU\IDFHWRISUHFLVLRQ
PRWLRQFRQWURO

.LPFR 0DJQHWLFV OHDGV WKH LQGXVWU\ LQ GHYHORSLQJ

VROXWLRQVWRPRWLRQFRQWUROWKURXJKLWVGHYHORSPHQWRI
VSHFLDOW\HOHFWURPDJQHWGHYLFHVIRUWKHPRVWGHPDQG
LQJ DSSOLFDWLRQV 2XU FUHDWLYH WHFKQLFDO VWDII UHDGLO\
UHVSRQGVWRDOOW\SHVRIFKDOOHQJHVLQFOXGLQJWKRVHWKDW
FDQ¶WEHPHWE\RIIWKHVKHOIHTXLSPHQW

:KHQ \RX QHHG WKH PRVW DGYDQFHG WHFKQRORJ\ LQ

EUXVKOHVV'&PRWRUVYRLFHFRLODFWXDWRUVRUVSHFLDOW\
HOHFWURPDJQHWLF GHYLFHV FDOO %(,¶V .LPFR 0DJQHWLFV
GLYLVLRQ

%(, .,0&20$*1(7,&6',9,6,21
%(,7(&+12/2*,(6,1&
$5DQFKHURV'ULYH6DQ0DUFRV&$‡7ROO)UHH‡7HO‡)D[‡,QWHUQHWZZZEHLNLPFRFRP‡(0DLOVDOHV#EHLNLPFRFRP

%(,7HFKQRORJLHV,QF1DVGDT%(,4LVDQHVWDEOLVKHGPDQXIDFWXUHURIHOHFWURQLFVHQVRUVDQGPRWLRQFRQWUROSURGXFWVXVHGIRUIDFWRU\DQGRI¿FHDXWRPDWLRQPHGLFDODQGVFLHQWL¿F

HTXLSPHQWPLOLWDU\DYLDWLRQDQGVSDFHV\VWHPVDQGWUDQVSRUWDWLRQHTXLSPHQWLQFOXGLQJDXWRPRELOHVWUXFNVDQGRIIURDGHTXLSPHQW7KHFRPSDQ\¶VSURGXFWSRUWIROLRLQFOXGHVRSWL
FDOHQFRGHUVEUXVKOHVV'&PRWRUVYRLFHFRLODFWXDWRUVSRWHQWLRPHWULFSRVLWLRQVHQVRUVVLOLFRQPLFURHOHFWURPHFKDQLFDO0(06GHYLFHVURWDWLRQUDWHVHQVRUVSUHVVXUHWUDQVGXF
HUVDQGVHUYRV\VWHPV