Itm Power Plc · LSE:ITM
Itm Power — Investor Presentation (September 2010)
50 slides from Itm Power's investor presentation, Sep 15, 2010
Slide 1: ITM Power plc: From Energy Storage to Clean Fuel
ITM Power plc From Energy Storage to Clean Fuel; 15th Sept 2010 Dr Graham Cooley, CEO "I've got my hydrogen fuel cell car and…. it's great, but you have to find a hydrogen filling station.” Jay Leno, The Sunday Times 12/9/10 ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentati
Slide 2: Contents
ITM Power plc From Energy Storage to Clean Fuel; 15th Sept 2010 Dr Graham Cooley, CEO Contents Introduction Technology Snapshot Market Entry Products The Case for Energy Storage The Case for Green Hydrogen Fuel Summary ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 3: Company Positioning
Company Positioning Energy Storage | Clean Fuel Essential Technology & Systems • Harnessing Renewable Energy • Producing Green Hydrogen • Regeneration of Power • A Zero Carbon Footprint Fuel ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 4: Product and Market Strategy
Product and Market Strategy Market Entry Strategy Building New Markets Positioned for the Big Win • Small Electrolyser products • Energy Storage • Clean fuel • Existing markets • Hydrogen Energy Systems • Partner trials for HFuel • Head to head competition • Articulate new offerings • Develop home r
Slide 5: Technology Snapshot
Technology Snapshot ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 6: ITM's Suite of Membrane Materials
ITM’s Suite of Membrane Materials A Key Component in the Hydrogen Supply Chain A low cost, high efficiency membrane • Hydrocarbon materials • Cross-linked structure • In-house formulation control • Ease of production • Patented worldwide ITMITM POWER | Investor POWER Presentation, | Open Day June 20
Slide 7: Electrolyser Stacks and Clean Assembly
Electrolyser Stacks and Clean Assembly The Art of Hydrogen Generation Achieving the correct environment • Specialist design expertise • Proprietary assembly processes • Contamination controls • Performance at large scale ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 8: Cell and Stack Testing
Cell and Stack Testing A Multi-Staged Qualification Process Gain evidence through extensive evaluation • Increased testing capacity • Well developed testing • Comprehensive monitoring • Establish operational limits ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 9: Market Entry Products
Market Entry Products ITMITM POWER | Investor POWER | Open Presentation, Day June Presentation From intermittent power to a2010 transport fuel
Slide 10: Company Positioning
Company Positioning Key Component in the Hydrogen Supply Chain A low cost, high efficiency membrane • 70% efficiency • Blah • Blah ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 11: Company Positioning
Company Positioning Key Component in the Hydrogen Supply Chain A low cost, high efficiency membrane • 70% efficiency • Blah • Blah ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 12: ITM ITM POWER | Investor
ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 13: ITM ITM POWER | Investor
ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 14: Product and Market Strategy
Product and Market Strategy Market Entry Strategy Building New Markets Positioned for the Big Win • Small Electrolyser products • Energy Storage • Clean fuel • Existing markets • Hydrogen Energy Systems • Partner trials for HFuel • Head to head competition • Articulate new offerings • Develop home r
Slide 15: The Case for Energy Storage
The Case for Energy Storage ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 16: UK Electricity Demand
UK Electricity Demand Demand varies daily, weekly, seasonally: • Winter peak is 60 GW • Base load plant • Mid merit plant • Peaking plant Data from National Grid ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 17: UK Load Duration Curve
UK Load Duration Curve Plant utilisation over time: • Inefficient utilisation of plant • 40% fully utilised Peak Mid-merit Base load Data from National Grid ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 18: Bulk Commodity Storage
Bulk Commodity Storage Shifting the peaks to fill the troughs: • Turns mid merit in base load • Reduces the need for peaking • Increases system efficiency • Day night arbitrage! Data from National Grid ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 19: Bulk Commodity Storage
Bulk Commodity Storage Shifting the peaks to fill the troughs: • Turns mid merit in base load • Reduces the need for peaking • Increases system efficiency • Day night arbitrage! The Balancing Mechanism Reporting System (BMRS) The BMRS website provides near real time and historic data about the Balan
Slide 20: UK Electricity Demand
UK Electricity Demand Adding Intermittent Power: Add wind? • Need take or break decisions • Undermines Base load • Increased need for spinning reserve • Pushes you back down merit order Data from National Grid ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 21: UK Generation
UK Generation CO2 targets to be met by power & heavy industry: • 16% reduction in GG emissions by 2020 • 31% renewable generation by 2020 • This cannot be achieved without energy storage! ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 22: Renewable Energy Management
Renewable Energy Management Wind Energy: The UK A plentiful resource? • Best Wind resources in Europe • Entering Phase Three of construction in UK • Onshore capacity factor 30%, offshore 40% ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 23: Renewable Energy Management
Renewable Energy Management Wind Energy: The Case for Denmark Study by CEPOS Sept 2009 • 20% of its generating capacity is wind • Only 5% of demand is met by wind • Negative electricity prices • 50% is exported to Sweden and Norway • The report calls for energy storage ITMITM POWER | Investor POWER
Slide 24: Storing Renewable Energy
Storing Renewable Energy ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 25: Supply Chain Logistics
Supply Chain Logistics Adding energy storage to the logistics: • Five elements are dynamically balanced • Adding energy storage would lead to: • New business models • New service strategies • New pricing structures Bulk Energy Storage Customer Fuel Genera*on Transmission Distribu*on Services Distrib
Slide 26: Summary
Summary: Energy storage offers: • Improve operational efficiency • Integrate intermittent renewables • Support base load nuclear • Join the dots between power & energy • Decarbonisation However: • Many technologies are unproven • Cost targets are difficult to define • Engineering scale poses a techn
Slide 27: Sector Export
Sector Export ITMITM POWER | Investor POWER | Open Presentation, Day June Presentation From intermittent power to a2010 transport fuel
Slide 28: Power Sector Export
Power Sector Export Exporting power to high value applications Supply/Demand mismatch can be alleviated by exporting power to another sector • Fuel is a huge sector • Needs decarbonising • Improve air quality • Reduce dependence on fossil fuels ITMITM POWER | Investor POWER Presentation, | Open Day
Slide 29: Power Sector Export
Power Sector Export ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 30: Product and Market Strategy
Product and Market Strategy Market Entry Strategy Building New Markets Positioned for the Big Win • Small Electrolyser products • Energy Storage • Clean fuel • Existing markets • Hydrogen Energy Systems • Partner trials for HFuel • Head to head competition • Articulate new offerings • Develop home r
Slide 31: The Case for Green Hydrogen Fuel
The Case for Green Hydrogen Fuel ITM POWER ITM ITM | Investor POWER POWER || Open Presentation, Open Day Day June 2010 Presentation Presentation
Slide 32: Hydrogen Fuel
Hydrogen Fuel Drivers for a Clean Fuel Acceptance is now mainstream • Decreases dependence on fossil fuels • Decarbonizes transport • Improves air quality ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 33: Hydrogen Fuel Cell Vehicles
Hydrogen Fuel Cell Vehicles Hydrogen Cars Serious Traction envisaged around 2015 • Air quality may drive early adoption • Commercial fleet early adoption ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 34: Hydrogen Fuel Cell Vehicles
Hydrogen Fuel Cell Vehicles Hydrogen Cars – 2010 Every major OEM has launched • Honda FCX Clarity • Chevrolet Equinox • Toyota FCHV ITM POWER Energy ITM | Investor Storage POWER || Clean Presentation, Open Fuel Day June 2010 Presentation
Slide 35: EV and Hydrogen Vehicles
EV and Hydrogen Vehicles Hybrid EV EV and Hydrogen Cars GM’sOEM Every major E-Flex System has launched comes in two versions a Hybrid • A hydrogen vehicle is an EV • The King review caused confusion Hydrogen Vehicle ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 36: EV and Hydrogen Vehicles
EV and Hydrogen Vehicles EV and Hydrogen Cars GM’sOEM Every major E-Flex System has launched comes in two versions a Hybrid • A hydrogen vehicle is an EV • The King review caused confusion Hydrogen Vehicle ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 37: Hydrogen Internal Combustion Engine (HICE) Vehicles
Hydrogen Internal Combustion Engine (HICE) Vehicles ITM Power HICE Ford Focus A Pragmatic Stepping Stone • Low cost • Uses existing technology • Breaks the ‘chicken and egg’ scenario ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 38: Hydrogen Refuelling Infrastructure
Hydrogen Refuelling Infrastructure Hydrogen Cars – Infrastructure Germany leads the way • FC Vehicle LoI signed 2009 • H2 infrastructure MoU signed 2009 • 1,000 refuelling stations by 2015 • 2015 commitment to FC vehicle roll out in Germany • Letter of understanding signed 2009 • H2-mobility project
Slide 39: Hydrogen Fuel
Hydrogen Fuel Brown Hydrogen Based on reformed natural gas • Burning gas once removed • Loss in transport • Transported by diesel ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 40: Hydrogen Refuelling
Hydrogen Refuelling HPRU – 2009 Stationary High Pressure Refueller • Rapid cascade refuelling at 350 bar • Flexible and modular • One of only four refuellers in the UK ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 41: Hydrogen Refuelling
Hydrogen Refuelling HPRU – 2009 Stationary High Pressure Refueller • Rapid cascade refuelling at 350 bar • Flexible and modular • One of only four refuellers in the UK ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 42: Hydrogen Refuelling: HFuel
Hydrogen Refuelling HFuel® – 2010 Hydrogen Fuel infrastructure unit • HFuel 15kg/day, rapid cascade refuelling at 350 bar • Flexible, modular and transportable refuelling unit • Targeted at the urban commercial fleet market • Part funded by TSB • Product launch at AGM on 15th Sept ITMITM POWER | Inv
Slide 43: The HOST Programme
Hydrogen Refuelling The HOST Programme Hydrogen On-Site Trials ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 44: HICE Vans
HICE Vans Revolve HICE Ford Transit vans Hydrogen Internal Combustion Engine Transit Vans • Van costs £13k + VAT • Van conversion £12k + VAT (100 off) ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 45: The HOST Programme
Hydrogen Refuelling The HOST Programme Hydrogen On-Site Trials • DHL Supply Chain • Scottish Water • Stansted Airport • Forestry Commission • Sheffield City Council • Camden Council • More to come ……. ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 46: HPac, HFill, HFuel – 2011
Hydrogen Refuelling HPac, HFill, HFuel – 2011 An integrated product range from home refuelling to mobile infrastructure units ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 47: HFill – 2011
Hydrogen Refuelling HFill® – 2011 Home refueller for coupling to embedded renewable energy • Developed in a mature legislative environment • Services for the 700 bar adopted standard • Aligned with a highly distributed model • Collaboration with Next Energy ITMITM POWER | Investor POWER Presentation
Slide 48: The Competition?
The Competition? Honda Solar Hydrogen Station A shared vision • Honda FCX Clarity arrived in the UK yesterday • Honda calls for a UK hydrogen infrastructure ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 49: Summary
Summary We’re Losing the Race for the Car of the Future There's a better alternative to oil than batteries • No government support • UK pioneers • Overtaken by Germany & US • Huge opportunity ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation
Slide 50: Summary
Summary • Renewable power needs energy storage • Sector export a great solution • Transport is a large enough sector • Green hydrogen is a zero carbon footprint fuel ITMITM POWER | Investor POWER Presentation, | Open Day June 2010 Presentation