FINAL RESULTS PRESENTATION FOR YEAR ENDED 30 APRIL 2011 ITM POWER DESIGNS AND MANUFACTURES HYDROGEN ENERGY SYSTEMS FOR ENE...
<ul><li>Background </li></ul><ul><li>First stock market listed hydrogen | fuel cell company </li></ul><ul><li>Listed in 20...
FINAL RESULTS PRESENTATION FOR YEAR ENDED 30 APRIL 2011 <ul><li>Contents </li></ul><ul><li>Positioning </li></ul><ul><li>H...
POSITIONING HYDROGEN ENERGY STORAGE HYDROGEN TRANSPORT FUEL
<ul><li>Electricity cannot be easily stored </li></ul><ul><li>Renewable power cannot be scheduled </li></ul><ul><li>Balanc...
<ul><li>Energy storage by DSM hydrogen production </li></ul><ul><li>Modular, scalable and rapid response </li></ul><ul><li...
<ul><li>On-site production of hydrogen from renewables </li></ul><ul><li>Zero carbon in its production </li></ul><ul><li>Z...
HOST THE UK’S LARGEST CROSS SECTOR HYDROGEN TRIAL
<ul><li>The UK’s largest cross sector hydrogen trial </li></ul><ul><li>21 commercial partners </li></ul><ul><li>Balanced a...
HOST HYDROGEN ON SITE TRIALS TRIAL PARTNER SITING <ul><li>Steady build of operational experience </li></ul><ul><li>100+ re...
<ul><li>The 11 trials to date have been very successful </li></ul><ul><li>HFuel showed 100% availability </li></ul><ul><li...
HFUEL HERE A COLLABORATION WITH EVENT ORGANISERS TO PROMOTE THE PARTICIPATION OF FUEL CELL VEHICLES IN INTERNATIONAL SHOWS
<ul><li>To encourage fuel cell vehicles to exhibit </li></ul><ul><ul><li>15kg/day onsite generation & 60kg storage </li></...
ENERGY STORAGE | CLEAN FUEL NEW METHODS FOR HYDROGEN PURITY ANALYSIS <ul><li>Fuel cells require very high purity hydrogen ...
<ul><li>Plug and play hydrogen generation | Transportable fuel </li></ul><ul><li>Easily transported </li></ul><ul><li>Set ...
HFUEL A COMPLIANT HYDROGEN REFUELLING SYSTEM
<ul><li>A mobile hydrogen production and dispensing unit </li></ul><ul><li>15kg/day; 3 van capability today </li></ul><ul>...
<ul><li>ISO accreditation </li></ul><ul><li>CE marking of first electrolyser systems </li></ul><ul><li>Hydrogen On Site Tr...
<ul><li>Clean transport fuel is a very big win </li></ul><ul><li>350 and 700bar operation </li></ul><ul><li>Car | Fleet | ...
<ul><li>Clean transport fuel is a very big win </li></ul><ul><li>350 and 700bar operation </li></ul><ul><li>Car | Fleet | ...
MODULAR SYSTEM DEPLOYMENT HYDROGEN ENERGY SYSTEMS
HFUEL COSTS HYDROGEN ON SITE TRIALS COSTS: HYDROGEN PRODUCTION <ul><li>A range of hydrogen costs from £5/kg to £10/kg </li...
CASE STUDY HYDROGEN ON SITE TRIALS UNIVERSITY OF NOTTINGHAM
ECOISLAND RENEWABLE SMART GRID ENERGY STORAGE CLEAN FUEL PARTNERSHIP
<ul><li>Hydrogen Smart Grid Energy Storage | Clean Fuel </li></ul><ul><li>EcoIsland CIC </li></ul><ul><li>IBM </li></ul><u...
 
<ul><li>Utilisation of renewables is held back by lack of energy storage solutions </li></ul><ul><li>Early adoption market...
GRANT AWARDS DEVELOPING INTERNATIONAL RELATIONSHIPS THROUGH GRANT FUNDED PROJECTS
<ul><li>Developing international partnerships through grant funded projects </li></ul><ul><li>HydroGen ITM Power </li></ul...
HOME REFUELLER <ul><li>A 700bar single car home refueller </li></ul><ul><li>Using a 200bar electrolyser </li></ul><ul><li>...
<ul><li>On-board hydrogen production for emissions control </li></ul><ul><li>Engine optimisation </li></ul><ul><li>NO x  r...
<ul><li>Developing high power density fuel cell MEA’s for the automotive sector </li></ul><ul><li>Highest known power dens...
<ul><li>A policy of openness and immediate news flow </li></ul><ul><li>Meetings with David MacKaye, Greg Barker, Boris Joh...
RESULTS FIRST PRODUCT REVENUES ABOVE EXPECTATIONS
FINAL RESULTS PRESENTATION FOR YEAR ENDED 30 APRIL 2011 <ul><li>Products </li></ul><ul><li>CE marking of HPac, HBox and HF...
FINAL RESULTS PRESENTATION FOR YEAR ENDED 30 APRIL 2011 <ul><li>Financials </li></ul><ul><li>Net cash-burn of £4.8m (£4.9m...
FINAL RESULTS PRESENTATION FOR YEAR ENDED 30 APRIL 2011 <ul><li>Corporate </li></ul><ul><li>Appointment of Lord Freeman as...
OUTLOOK UNIQUE TECHNOLOGY PRODUCT REVENUES RAPIDLY DEVELOPING GLOBAL MARKET FIRST MOVER ADVANTAGE
FINAL RESULTS PRESENTATION FOR YEAR ENDED 30 APRIL 2011 <ul><li>Outlook </li></ul><ul><li>Adoption of hydrogen is accelera...
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ITM Briefing 29-30.11.11

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Transcript of "ITM Briefing 29-30.11.11"

  1. 1. FINAL RESULTS PRESENTATION FOR YEAR ENDED 30 APRIL 2011 ITM POWER DESIGNS AND MANUFACTURES HYDROGEN ENERGY SYSTEMS FOR ENERGY STORAGE AND CLEAN FUEL PRODUCTION
  2. 2. <ul><li>Background </li></ul><ul><li>First stock market listed hydrogen | fuel cell company </li></ul><ul><li>Listed in 2004 | secondary fundraising in 2006 </li></ul><ul><li>61 employees </li></ul><ul><li>Two locations in Sheffield </li></ul><ul><li>£12m of cash resources </li></ul><ul><li>First revenues achieved in Q1 2011 </li></ul>ITM POWER DESIGNS AND MANUFACTURES HYDROGEN ENERGY SYSTEMS FOR ENERGY STORAGE AND CLEAN FUEL PRODUCTION FINAL RESULTS PRESENTATION FOR YEAR ENDED 30 APRIL 2011
  3. 3. FINAL RESULTS PRESENTATION FOR YEAR ENDED 30 APRIL 2011 <ul><li>Contents </li></ul><ul><li>Positioning </li></ul><ul><li>HOST </li></ul><ul><li>Products </li></ul><ul><li>Technology </li></ul><ul><li>Grant Awards </li></ul><ul><li>Events </li></ul><ul><li>Results </li></ul>ITM POWER DESIGNS AND MANUFACTURES HYDROGEN ENERGY SYSTEMS FOR ENERGY STORAGE AND CLEAN FUEL PRODUCTION
  4. 4. POSITIONING HYDROGEN ENERGY STORAGE HYDROGEN TRANSPORT FUEL
  5. 5. <ul><li>Electricity cannot be easily stored </li></ul><ul><li>Renewable power cannot be scheduled </li></ul><ul><li>Balancing supply and demand </li></ul><ul><li>Required at small & large scale </li></ul><ul><li>Energy storage required for long periods </li></ul><ul><li>Represents major barrier to adoption of renewables </li></ul>POSITIONING ENERGY STORAGE | CLEAN FUEL THE CHALLENGE
  6. 6. <ul><li>Energy storage by DSM hydrogen production </li></ul><ul><li>Modular, scalable and rapid response </li></ul><ul><li>High conversion efficiency </li></ul><ul><li>Ability to accommodate intermittent input </li></ul><ul><li>Separates power from energy </li></ul>POSITIONING ENERGY STORAGE | CLEAN FUEL THE SOLUTION
  7. 7. <ul><li>On-site production of hydrogen from renewables </li></ul><ul><li>Zero carbon in its production </li></ul><ul><li>Zero carbon in its transportation </li></ul><ul><li>Zero carbon emissions when used </li></ul>POSITIONING ENERGY STORAGE | CLEAN FUEL A TRIPLE ZERO FUEL
  8. 8. HOST THE UK’S LARGEST CROSS SECTOR HYDROGEN TRIAL
  9. 9. <ul><li>The UK’s largest cross sector hydrogen trial </li></ul><ul><li>21 commercial partners </li></ul><ul><li>Balanced across 7 industrial sectors </li></ul><ul><li>Launched at London Stansted Airport </li></ul><ul><li>11 trials completed to date </li></ul><ul><li>Sale of trial to Carillion plc. </li></ul>HOST HYDROGEN ON SITE TRIALS TRIAL PARTNERS
  10. 10. HOST HYDROGEN ON SITE TRIALS TRIAL PARTNER SITING <ul><li>Steady build of operational experience </li></ul><ul><li>100+ refuelling events </li></ul><ul><li>200+ kg of hydrogen generated on-site </li></ul><ul><li>4,000+ km travelled on hydrogen </li></ul><ul><li>30+ different van drivers </li></ul><ul><li>100% availability on HFuel plant </li></ul><ul><li>The technology is practical and operational </li></ul>
  11. 11. <ul><li>The 11 trials to date have been very successful </li></ul><ul><li>HFuel showed 100% availability </li></ul><ul><li>45kg of hydrogen produced </li></ul><ul><li>At a rate of 56kWhrs/kg </li></ul><ul><li>Efficiencies up to 69.5% (average 65%) </li></ul><ul><li>Breakeven electricity price 6.5p/kWhr (HICE) </li></ul><ul><li>A fuel cell vehicle would be even better! </li></ul>HOST HYDROGEN ON SITE TRIALS TRIAL RESULTS
  12. 12. HFUEL HERE A COLLABORATION WITH EVENT ORGANISERS TO PROMOTE THE PARTICIPATION OF FUEL CELL VEHICLES IN INTERNATIONAL SHOWS
  13. 13. <ul><li>To encourage fuel cell vehicles to exhibit </li></ul><ul><ul><li>15kg/day onsite generation & 60kg storage </li></ul></ul><ul><ul><li>Demonstrate the readiness of H 2 vehicles & infrastructure </li></ul></ul><ul><ul><li>Demystification of sustainable refuelling technology </li></ul></ul><ul><ul><li>Temporary on-site H 2 generation and dispensing </li></ul></ul><ul><ul><li>Fully manned operation </li></ul></ul>LAUNCH IN 2012 HFUEL HERE ON-SITE FUEL FOR EVENTS
  14. 14. ENERGY STORAGE | CLEAN FUEL NEW METHODS FOR HYDROGEN PURITY ANALYSIS <ul><li>Fuel cells require very high purity hydrogen and measurement standards </li></ul><ul><li>Hydrogen from electrolysis is ‘clean’ </li></ul><ul><li>Sampling and analysis techniques developed with NPL </li></ul><ul><li>Ability to demonstrate fuel cell quality hydrogen </li></ul><ul><li>First step to conformance to ISO 14687 </li></ul>HYDROGEN STANDARDS
  15. 15. <ul><li>Plug and play hydrogen generation | Transportable fuel </li></ul><ul><li>Easily transported </li></ul><ul><li>Set up within hours </li></ul><ul><li>Proven technology </li></ul>TRANSPORTABLE ON SITE FUEL PRODUCTION HFUEL HERE ONSITE FUEL FOR EVENTS
  16. 16. HFUEL A COMPLIANT HYDROGEN REFUELLING SYSTEM
  17. 17. <ul><li>A mobile hydrogen production and dispensing unit </li></ul><ul><li>15kg/day; 3 van capability today </li></ul><ul><li>100kg/day; next offering for UK </li></ul><ul><li>100kg/day; 700bar for German market </li></ul>THE HFUEL PRODUCT THE HFUEL PRODUCT FROM TECHNOLOGY TO PRODUCTS
  18. 18. <ul><li>ISO accreditation </li></ul><ul><li>CE marking of first electrolyser systems </li></ul><ul><li>Hydrogen On Site Trials (HOST) for mobile hydrogen refueller </li></ul>COMPLIANCE ENERGY STORAGE | CLEAN FUEL COMPLIANCE EXPERIENCE
  19. 19. <ul><li>Clean transport fuel is a very big win </li></ul><ul><li>350 and 700bar operation </li></ul><ul><li>Car | Fleet | Infrastructure </li></ul><ul><li>100kg/day; 260kg storage </li></ul><ul><li>I container + 3 containers </li></ul>THE BIG WIN DEPLOYMENT HYDROGEN ENERGY SYSTEMS
  20. 20. <ul><li>Clean transport fuel is a very big win </li></ul><ul><li>350 and 700bar operation </li></ul><ul><li>Car | Fleet | Infrastructure </li></ul><ul><li>100kg/day; 260 Kg storage </li></ul><ul><li>Target the German market </li></ul><ul><li>German €2.6bn commitment </li></ul>PRODUCTS FROM TECHNOLOGY TO PRODUCTS THE BIG WIN
  21. 21. MODULAR SYSTEM DEPLOYMENT HYDROGEN ENERGY SYSTEMS
  22. 22. HFUEL COSTS HYDROGEN ON SITE TRIALS COSTS: HYDROGEN PRODUCTION <ul><li>A range of hydrogen costs from £5/kg to £10/kg </li></ul><ul><li>Hydrogen price includes amortisation of capital & electricity cost </li></ul><ul><li>Assume 100% utilisation over plant life </li></ul><ul><li>Compression & storage quoted separately </li></ul><ul><li>Maintenance contract dependant on usage profile & location </li></ul>Hydrogen Cost (£/kg) 4p/kWhr 6p/kWhr 8p/kWhr Electricity 2.40 3.60 4.80 Capital Grant 0% 50% 0% 50% 0% 50% 5 Years 8.31 5.35 9.51 6.55 10.71 7.75 10 Years 5.35 3.88 6.55 5.08 7.75 6.28 20 Years 3.88 3.14 5.08 4.34 6.28 5.54
  23. 23. CASE STUDY HYDROGEN ON SITE TRIALS UNIVERSITY OF NOTTINGHAM
  24. 24. ECOISLAND RENEWABLE SMART GRID ENERGY STORAGE CLEAN FUEL PARTNERSHIP
  25. 25. <ul><li>Hydrogen Smart Grid Energy Storage | Clean Fuel </li></ul><ul><li>EcoIsland CIC </li></ul><ul><li>IBM </li></ul><ul><li>Toshiba </li></ul><ul><li>SSE </li></ul><ul><li>Cable & Wireless </li></ul><ul><li>Southern Water </li></ul><ul><li>ITM Power </li></ul>ECO ISLAND ENERGY STORAGE | CLEAN FUEL THE PARTNERS
  26. 27. <ul><li>Utilisation of renewables is held back by lack of energy storage solutions </li></ul><ul><li>Early adoption markets </li></ul><ul><li>Island energy systems </li></ul><ul><li>Off grid energy storage </li></ul><ul><li>€ 25bn to 2030 </li></ul>THE OPPORTUNITY ECO ISLAND ENERGY STORAGE | CLEAN FUEL
  27. 28. GRANT AWARDS DEVELOPING INTERNATIONAL RELATIONSHIPS THROUGH GRANT FUNDED PROJECTS
  28. 29. <ul><li>Developing international partnerships through grant funded projects </li></ul><ul><li>HydroGen ITM Power </li></ul><ul><li>Home Refueller Next Energy; 8 OEM’s </li></ul><ul><li>CREO Ford; Land Rover; JM </li></ul><ul><li>Fuel Cell 3 OEM’s </li></ul><ul><li>Hydrogen Storage E.oN </li></ul>GRANT AWARDS GRANT AWARDS PARTNERSHIPS THROUGH PROJECTS
  29. 30. HOME REFUELLER <ul><li>A 700bar single car home refueller </li></ul><ul><li>Using a 200bar electrolyser </li></ul><ul><li>Funded by the DoE </li></ul><ul><li>An 8 OEM consortium </li></ul>GRANT AWARDS PARTNERSHIPS THROUGH PROJECTS
  30. 31. <ul><li>On-board hydrogen production for emissions control </li></ul><ul><li>Engine optimisation </li></ul><ul><li>NO x removal with hydrogen </li></ul><ul><li>Injected into the exhaust </li></ul>CREO GRANT AWARDS PARTNERSHIPS THROUGH PROJECTS
  31. 32. <ul><li>Developing high power density fuel cell MEA’s for the automotive sector </li></ul><ul><li>Highest known power density </li></ul><ul><li>5.5W/cm 2 on Oxygen </li></ul><ul><li>2.1W/cm 2 on Air </li></ul><ul><li>Enthusiastic OEM engagement </li></ul><ul><li>At the sample evaluation stage </li></ul>FUEL CELL MEA’S GRANT AWARDS PARTNERSHIPS THROUGH PROJECTS
  32. 33. <ul><li>A policy of openness and immediate news flow </li></ul><ul><li>Meetings with David MacKaye, Greg Barker, Boris Johnson </li></ul><ul><li>Hydrogen now tops DECC’s strategic technologies list </li></ul><ul><li>Press: Sunday Times, Mirror, Yorkshire Post </li></ul><ul><li>73 separate email campaigns </li></ul><ul><li>53 RNS announcements </li></ul><ul><li>Product focused mobile web application </li></ul>EVENTS BUILDING PRODUCT & BRAND AWARENESS AWARENESS
  33. 34. RESULTS FIRST PRODUCT REVENUES ABOVE EXPECTATIONS
  34. 35. FINAL RESULTS PRESENTATION FOR YEAR ENDED 30 APRIL 2011 <ul><li>Products </li></ul><ul><li>CE marking of HPac, HBox and HFlame </li></ul><ul><li>First product sale to Univ of Birmingham </li></ul><ul><li>HFlame field trial with Ametek </li></ul><ul><li>HBox field trial with Glamorgan Hydrogen Centre </li></ul><ul><li>First sale of HFuel production module with Glamorgan </li></ul><ul><li>Post-period product orders of £0.43m </li></ul><ul><li>Well ahead of expectations </li></ul>
  35. 36. FINAL RESULTS PRESENTATION FOR YEAR ENDED 30 APRIL 2011 <ul><li>Financials </li></ul><ul><li>Net cash-burn of £4.8m (£4.9m 2010) </li></ul><ul><li>Cash at 30 April 2011 £12.2m (£16.9m 2010) </li></ul><ul><li>£1.09m of income from grant bodies </li></ul><ul><li>Grants from the Technology Strategy Board & Carbon Trust </li></ul><ul><li>A future £1.2m in grant funding has been secured </li></ul><ul><li>Applying to larger schemes with significant partners </li></ul>
  36. 37. FINAL RESULTS PRESENTATION FOR YEAR ENDED 30 APRIL 2011 <ul><li>Corporate </li></ul><ul><li>Appointment of Lord Freeman as Non Executive Director </li></ul><ul><li>Establishment of wholly owned German subsidiary ITM Power GmbH </li></ul><ul><li>Appointment of Phil Doran as MD of ITM Power GmbH </li></ul>
  37. 38. OUTLOOK UNIQUE TECHNOLOGY PRODUCT REVENUES RAPIDLY DEVELOPING GLOBAL MARKET FIRST MOVER ADVANTAGE
  38. 39. FINAL RESULTS PRESENTATION FOR YEAR ENDED 30 APRIL 2011 <ul><li>Outlook </li></ul><ul><li>Adoption of hydrogen is accelerating </li></ul><ul><li>Good progress developing commercial relationships </li></ul><ul><li>Early revenue streams developing </li></ul><ul><li>Product orders of £0.43m in Q1 </li></ul><ul><li>Further grant funding of £1.2m </li></ul>UNIQUE TECHNOLOGY PRODUCT REVENUES RAPIDLY DEVELOPING GLOBAL MARKET FIRST MOVER ADVANTAGE

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