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MW PEM FC Power Plants for Chemical Industry Middelburg September 24, 2010 Jan Piet van der Meer
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Agenda 2 Introduction PPP business case
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Focus Development and manufacturing of: –PEM Fuel Cells –PEM Power Plants 3
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History AKZO Nobel R&D worked on fuel cell materials like bipolar cell plates, catalysts, GDL and membranes since 1989 In 1998 AKZO Nobel stops corporate R&D program and consequently the fuel cell activities NedStack took over all Akzo Nobel’s FC related IPR and the key people (7) that worked on fuel cells 4
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Current situation 45 employees Europe’s largest volume fuel cell producer Independent, privately owned by 3 financial investors and an ‘employees’ foundation Automated production line on stream in 2011 5
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Basics of the PEM fuel cell technology Invented by Grove (1837) 6 Water
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Unique product XL and HP stacks 1 – 10 kW peak H 2 /Ambient air Proven durability High efficiency CE marked Robust Recyclable 7
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Demonstration projects (I) 8 Uniflex 14 kW net rated power bio-ethanol/ H 2 /E generator (incl. bundles & reformer) Purity 4 kW net rated power H 2 /E generator
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Demonstration projects (II) 9 FC Boat 2 x 30 kW net rated power H 2 /E generators (Germanischer Lloyd certified) HyTruck 16 kW net rated power H 2 /E drive line City bus Arnhem 30kW
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Track record 10 290 back-up stations with NedStack stacks installed with untroubled operation since 2007 70kW demonstration PEM power Plant running >16000 hrs since April 2007 1MW plant sold to Solvay Online expected Q2 2011
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Medium term markets Fork lifts Generators Busses & Trucks 11
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Agenda 12 Introduction PPP business case
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13 PPP business case Local conditionsResulting in Hydrogen availability2MW power equivalent Power price60€/MWh Heat value10€/MWh Hydrogen value0€/kg Discount rate16% Hours per year8000 Demi water value0 €/m3 IRR…… % NPV…… K€ Pay back time…… years
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PPP business case Capex, € mln 14 Total Capex Blance of plant OSBL One-off stack costs
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PPP business case P&L, € ‘000 15 Hydrogen Opex on site 0 GM Power Heat EBIT Service fee
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PPP business case Cash flow, ‘000 16
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17 Business case PPP Local conditionsResulting in Hydrogen availability2MW power equivalent Power price60€/MWh Heat value10€/MWh Hydrogen value0€/kg Discount rate16% Hours per year8000 Demi water value0 €/m3 IRR8.4% NPV(870)K€ Pay back time7 years
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Janpiet.vandermeer@nedstack.com
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