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ITM Briefing 29-30.11.11
 

ITM Briefing 29-30.11.11

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www.itm-power.com

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    ITM Briefing 29-30.11.11 ITM Briefing 29-30.11.11 Presentation Transcript

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