Key developments
in Fuel Cells
Capital Markets Event
Seoul, 23 May 2012
2
What is a fuel cell?
Fuel cells generate electricity by means of a
reversible electrochemical reaction
Energy supply is ...
3
Fuel cell types
Proton exchange Membrane Fuel Cells
(PEMFC) are dominant technology
• Mainly used today in stationary
ap...
4
Current market
Today first commercial products are
produced for slowly developing markets
• Back up power
• Off grid sys...
5
Early commercial/
prototype phase
(mainly mobility)
Market introduction
(mainly stationary power)
Estimated timeline of ...
6
Why do we need fuel cells in automotive?
In order to achieve the EU CO2
reduction ambition of 80% by 2050,
road transpor...
7
Major OEMs have fuel cells
on their development roadmap
First market introduction for FC-powered cars planned in 2012, 2...
8
Current state of the automotive fuel cell market
Programmes are agreed to roll
out fuel cell cars and
infrastructure sim...
9
Current state of the automotive fuel cell market
There are satisfactory solutions to address
main technical hurdles such...
10
2010 2015 2020 2050
Lifetime
[‘000 km]
115 180 247 290
Pt use
[g/kW]
0.93 0.44 0.24 0.11
The fuel cell cost curve
Signi...
11
Platinum availability
FCEV today needs more Pt than in an emission control catalyst
• Today some 5-10x more or ~40g per...
12
Hydrogen availability
Hydrogen generation/distribution is not a technical issue
• Hydrogen filling stations are existin...
13
Recycling
chemistry
metallurgy
materials science
materialmaterial
Completes Umicore’s technology exposure to automotive...
14
Umicore combines efforts with Solvay
forming SolviCore
50%
50%
PM-based
catalysts
Membrane
ionomer
Membrane
Electode
As...
15
Company PM
precious metals
PMC
precious metals
chemistry
Catalyst
Membrane
ionomer
MEA
Membrane Electrode
Assembly
Recy...
16
H2/air
Automotive
H2/O2
Stationary
CHP, APU, UPS*
H2
generation
H2/air *combined heat and power
generation
auxiliary po...
17
Collaboration examples
Automotive drivetrain fuel cell
Umicore and SolviCore are official
partners in Volkswagen´s HyMo...
18
Collaboration examples
Automotive Range Extender Fuel Cell (REFC)
Michelin developed a 5kW H2/air REFC for
vehicle inte...
19
Collaboration examples
Stationary fuel cells
Air Liquide intensified its hydrogen and fuel
cell program in the last 2 y...
20
Collaboration examples
Solvay’s Lillo plant, hydrogen stations & transports
Solvay installed a 1 MW PEM fuel cell unit ...
21
2222
Forward-looking statements
This presentation contains forward-looking information that involves risks and
uncertainti...
2012 Capital Markets Days Seoul - Fuel Cells
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2012 Capital Markets Days Seoul - Fuel Cells

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2012 Capital Markets Days Seoul - Fuel Cells

  1. 1. Key developments in Fuel Cells Capital Markets Event Seoul, 23 May 2012
  2. 2. 2 What is a fuel cell? Fuel cells generate electricity by means of a reversible electrochemical reaction Energy supply is hydrogen and oxygen, by-products are water and heat • Oxygen is taken from ambient air • Hydrogen source can be pure H2 gas, natural gas, methanol or other organic materials • Hydrogen is stored outside the fuel cell in a separate tank Performance characteristics • Energy is mainly determined by the size of the storage tank • Power is determined by the size of the fuel cell stack
  3. 3. 3 Fuel cell types Proton exchange Membrane Fuel Cells (PEMFC) are dominant technology • Mainly used today in stationary applications in Asia and transport in North America Performance characteristics make it best candidate for automotive applications • Uses H2 gas as energy source • Scalable from W to MW • Suitable for dynamic operations (e.g.: start/stop, drive cycles,…) Direct Methanol Fuel Cells (DMFC) is a variant, using methanol as energy source Other types (PAFC, AFC, MCFC, SOFC) have more limited applications due to their stringent operating conditions • Installed in small numbers for very large and continuously operated applications Fuel cell shipments in 2010
  4. 4. 4 Current market Today first commercial products are produced for slowly developing markets • Back up power • Off grid systems • Specialty vehicles • Buses • Distributed energy generation • Residential Combined Heat-Power (CHP) units Commercial applications dominated by PEMFCs 2.30 54.8 32.9 Portable electronics Stationary Transport [MW] Fuel cell shipments in 2010 Source: Fuel Cell Today
  5. 5. 5 Early commercial/ prototype phase (mainly mobility) Market introduction (mainly stationary power) Estimated timeline of market introduction or early commercial phase 2010-12 Source: Canadian Hydrogen & Fuel Cell Association 2012-2014 2015-2020 Backup Power Market 2011 > 1000 units Materials Handling Market 2011 > 1000 units CHP units Market 2011 > 10,000 units in Japan Distributed Generation Market 2011 < 10 units Bus Market 2011 > 10 units Car Market 2011 > 100 units
  6. 6. 6 Why do we need fuel cells in automotive? In order to achieve the EU CO2 reduction ambition of 80% by 2050, road transport must achieve 95% decarbonisation Portfolio of PHEVs, BEVs and FCEVs is only long term solution to obtain this decarbonisation target In a decarbonised road transport world FCEVs are the only solution offering longer driving ranges 100 50 150 0 0 400 600200 800 1000 1200 1400 CO2 emission [g/km] Range [km] ICE diesel ICE gasoline PHEV FCEV BEV 2010 2050 2010 2050 2010 2050 2010 2050 2010 2050 EU 2015 target EU 2020 target ICE Internal Combustion Engine-powered vehicle BEV Battery-powered Electric Vehicle HEV Hybrid Electric Vehicle PHEV Plug-in Hybrid Electric Vehicle FCEV Fuel Cell-powered Electric Vehicle Source:A portfolio of power-trains for Europe: A fact-based analysis (EU coalition study 2010)
  7. 7. 7 Major OEMs have fuel cells on their development roadmap First market introduction for FC-powered cars planned in 2012, 2013, 2014 and 2015 Fuel cell-powered buses are already sold commercially by Daimler, Toyota, Hyundai and integrators such as Van Hool Source: GM LBST compilation
  8. 8. 8 Current state of the automotive fuel cell market Programmes are agreed to roll out fuel cell cars and infrastructure simultaneously between • Public authorities • Automotive OEMs • Infrastructure companies Programs are in place in • Europe • USA • Japan • Korea Source: Canadian Hydrogen & Fuel Cell Association (2009) Steps paving the way to commercialisation of fuel cell electric vehicles
  9. 9. 9 Current state of the automotive fuel cell market There are satisfactory solutions to address main technical hurdles such that the development of commercial vehicles can continue • Water management • Cold weather operation • Performance • Durability • System size Cost reduction is remaining issue, for which OEMs identified ways to get there • Mass production and economies of scale • Further material and system advancement
  10. 10. 10 2010 2015 2020 2050 Lifetime [‘000 km] 115 180 247 290 Pt use [g/kW] 0.93 0.44 0.24 0.11 The fuel cell cost curve Significant cost reductions to be obtained • Engineering technical issues • Design and materials innovation • Process cost reductions • Mass production effect Fuel cell system cost reduction objectives* • By 2020 -75% • By 2050 -95% • MEA (incl. catalyst) -90% • Catalyst (incl. Pt) -80% * Source: A portfolio of power-trains for Europe: A fact-based analysis (EU coalition study 2010) Fuel cell system cost (in car) -95% Cost MEA Catalyst -75%
  11. 11. 11 Platinum availability FCEV today needs more Pt than in an emission control catalyst • Today some 5-10x more or ~40g per car • Product expected to reduce this by 50% by 2050 (20g) and a further 50% by 2050 (10g) Total availability of Pt is a concern to meet growing penetration of FCEVs • 1 million FCEVs by 2020 would represent ~20 tons of Pt • 20 million FCEVs by 2050 would represent ~200 tons of Pt • Compares to today's total supply of ~240 tons (including recycling for 25%) US department of Energy indicated this long-term trend can be met • Mining capacity to be increased, requiring adjusted and more advanced mining technology • Efficient recycling will be key (available today at Umicore, closed loop models are a must) • Mobility behaviour will have to change (mix of BEVs, FCEVs, public transport)
  12. 12. 12 Hydrogen availability Hydrogen generation/distribution is not a technical issue • Hydrogen filling stations are existing technology • They can be built in growing numbers in the coming years by the industrial gas players (e.g. Linde, Air Liquide) Hydrogen can be produced from renewable energy, without any CO2 emissions, creating new energy and mobility business model opportunities • Hydrogen can be used as storage medium for electricity by using electrolysis • Large energy and utility companies are investigating large scale energy storage technology by means of hydrogen • These initiatives complement the fuel cell mobility case, for which green hydrogen is the clear expectation of the public Linde hydrogen filling station Honda hydrogen filling station
  13. 13. 13 Recycling chemistry metallurgy materials science materialmaterial Completes Umicore’s technology exposure to automotive roadmap • Future car will be electrical, most probably hybrid, with battery and fuel cell • Automotive industry is major driver for fuel cell technology Fit with Umicore business model • Precious metals containing added-value materials • Recycling is key in the model Close technology fit with Umicore business • Precious metals chemistry and catalysis Close application fit with Umicore business • Energy products • Automotive end user market Why is Umicore active in fuel cells? material solutions PGMs Catalysis PM chemistry Recycling Energy Automotive Fuel Cells
  14. 14. 14 Umicore combines efforts with Solvay forming SolviCore 50% 50% PM-based catalysts Membrane ionomer Membrane Electode Assemblies (MEA) Fuel cell producer Each player is focused on own products and technology Umicore and Solvay can also supply other MEA producers, while SolviCore can also source from other suppliers The key component of the fuel cell
  15. 15. 15 Company PM precious metals PMC precious metals chemistry Catalyst Membrane ionomer MEA Membrane Electrode Assembly Recycling of PM Umicore / SolviCore  (Umicore)  (Umicore)  (Umicore)  (Solvay)  (SolviCore)  (Umicore) BASF       Concentrating on High Temperature PEM-MEAs Johnson Matthey      Gore   3M    Tanaka    Umicore/SolviCore/Solvay combination ideally placed in competitive landscape for automotive fuel cells
  16. 16. 16 H2/air Automotive H2/O2 Stationary CHP, APU, UPS* H2 generation H2/air *combined heat and power generation auxiliary power unit uninterrupted power supply SolviCore is addressing the following MEA markets with multiple collaborations Ref H2/air PEM electr olysis Collaboration with multiple OEMs Collaboration with some engineering companies Collaboration with some engineering and gas companies
  17. 17. 17 Collaboration examples Automotive drivetrain fuel cell Umicore and SolviCore are official partners in Volkswagen´s HyMotion 5 project Development of 1st German automotive fuel cell stack for the HyMotion 5 car fleet Introduction expected by 2015/16
  18. 18. 18 Collaboration examples Automotive Range Extender Fuel Cell (REFC) Michelin developed a 5kW H2/air REFC for vehicle integration with SolviCore MEAs for FAM auto for an electrical F-City vehicle • Presented at Michelin Challenge Bibendum in 2011 • Michelin started commercialisation of REFC concept in 2011 Renault is working on battery Range Extender Fuel Cell concepts (REFC) in close collaboration with SymbioFCell • Goal to overcome range and recharge time limitations of Renault’s ZE vehicle fleet • An REFC and battery powered HyKangoo with SolviCore MEAs will be presented by Solvay together with Renault Tech and SymbioFCell in June 2012 at Solvay Tavaux, France 5 kW RE
  19. 19. 19 Collaboration examples Stationary fuel cells Air Liquide intensified its hydrogen and fuel cell program in the last 2 years and is now leading the French H2E and H2 mobility program Air Liquide and Indian Barthi telecom (first Indian telecom service provider) signed MoU which should lead to the foundation of a JV to provide electric energy to remote telecom towers as a service based on hydrogen and fuel cell (“Off-Grid”) SolviCore is Axane´s long term partner for all systems employed until today Off-Grid Backup
  20. 20. 20 Collaboration examples Solvay’s Lillo plant, hydrogen stations & transports Solvay installed a 1 MW PEM fuel cell unit in 2011 at its plant in Lillo, Belgium with MEAs supplied by SolviCore • Produces electricity from hydrogen by-product coming from chemical electrolyis plant • Plant can be used to monitor >10.000 MEAs in real life operation Solvay will install and operate 2 hydrogen filling stations • Lillo (Belgium): Support hydrogen bus fleet in the port of Antwerp • Tavaux (France): Support local hydrogen driven vehicles Solvay will operate 2 Renault HyKangoos at its Tavaux plant (France) in June 2012 • In collaboration with Renault Tech, SymbioFCell and SolviCore • In the framework of the French H2E program
  21. 21. 21
  22. 22. 2222 Forward-looking statements This presentation contains forward-looking information that involves risks and uncertainties, including statements about Umicore’s plans, objectives, expectations and intentions. Readers are cautioned that forward-looking statements include known and unknown risks and are subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of Umicore. Should one or more of these risks, uncertainties or contingencies materialize, or should any underlying assumptions prove incorrect, actual results could vary materially from those anticipated, expected, estimated or projected. As a result, neither Umicore nor any other person assumes any responsibility for the accuracy of these forward-looking statements.

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