Nel Asa · OSL:NEL
Nel Asa — Investor Presentation (March 2017)
33 slides from Nel Asa's investor presentation, March 2017
Slide 1: Hydrogen as the key to transition within energy and mobility
Hydrogen as the key to transition within energy and mobility Jon André Løkke Chief Executive Officer, Nel ASA
Slide 2: Hydrogen Council launched January 17th, 2017 in Davos
Hydrogen Council launched January 17th, 2017 in Davos Introduction 2
Slide 3: Hydrogen Council quote on energy transition
“…hydrogen emerges among the key solutions for the energy transition, in the mobility as well as in the power, industrial and residential sectors…” Benoît Potier Co-chair Hydrogen Council CEO Air Liquide Strictly private & confidential 3
Slide 4: Hydrogen fundamentals
nel: Hydrogen fundamentals
Slide 5: Hydrogen fundamentals
Hydrogen fundamentals Most #1 abundant element in the universe 150x element in higher energy density periodic table than lithium batteries 14x Everything can be fueled by lighter than air 100% hydrogen renewable and made from water 5
Slide 6: Challenges associated with renewables/transportation
Challenges associated with renewables/transportation Theme/Subject Hydrogen solves fundamental challenges 1. Gap between power generation and power consumption • Distance • Time 2. Transportation requirements • Distance • Weight 3. Refueling time requirements • Maximizes asset utilization Strictly p
Slide 7: Hydrogen solves many fundamental challenges
Hydrogen solves many fundamental challenges Theme/Subject Hydrogen solves fundamental challenges Hydrogen - bridging gaps 1. Gap between power generation and I. Produced (i) at point of generation, (ii) power consumption stored and (iii) transported to point of use • Distance • Time 2. Transportatio
Slide 8: Current transport system is wasting energy
Transport system on hydrogen/battery Current transport system is wasting energy (1 kg hydrogen replaces ~10 liter diesel/petrol) Norwegian example: NOW: 50/50 hydrogen/battery: 90% fossil fuel: ~60 TWh 100% renewable: ~20 TWh • Annual electricity production in Norway is around ~130 TWh • Electricity
Slide 9: Nel in brief
nel: Nel in brief
Slide 10: About Nel Hydrogen
About nel hydrogen ● Pure-play and financially strong hydrogen company listed on the Oslo Stock Exchange ● ~100 employees in Norway, Denmark and US with world-class experience and skills ● 3 divisions offering hydrogen technology/solutions for industrial and energy applications ● World #1 on hydroge
Slide 11: Nel Hydrogen Electrolyser
NelHydrogen Nel Hydrogen Electrolyser Electrolyser • Global leader in hydrogen prod. plants - highest uptime, lowest conversion cost, robust and reliable • More than 850 hydrogen solutions delivered in 60 countries world wide since 1927 • Scalable production capacity for industrial and energy/transp
Slide 12: Nel Hydrogen Fueling
NelHydrogen Nel Hydrogen Fueling Fueling • Global leader within hydrogen fueling solutions for vehicles, first to adapt the newest fueling standards • Delivered more than 30 stations in 8 countries across Europe since 2003 • Highest reported availability and innovative, in-house developed technologi
Slide 13: Nel Hydrogen Solutions
NelHydrogen Nel Hydrogen Solutions Solutions • Unified delivery of complex renewable hydrogen solutions, efficient system integration, project development and sales across segments • Only provider of integrated solutions along the entire value chain: 1. Fueling Networks • Develop entire fueling netw
Slide 14: The hydrogen opportunity
nel: The hydrogen opportunity
Slide 15: Why now?
Why now? The hydrogen opportunity 1. Renewable electricity is becoming competitive • Cheap renewable = cheap hydrogen, creating “fossil parity” 2. Hydrogen technology is cheap, FCEV’s are available and affordable • High global focus on zero-emission transportation 15
Slide 16: Renewable energy becoming cheap
Renewable energy becoming cheap The hydrogen opportunity Renewables are undergoing substantial cost reductions, transforming electricity markets ● Levelized Cost of Electricity (wind/solar) on level or below conventional fossil power in many markets ● High and fluctuating quantities of renewable ele
Slide 17: Renewable hydrogen has reached fossil parity in multiple markets
Renewable hydrogen has reached “fossil parity” in multiple markets The hydrogen opportunity Renewable hydrogen is set to out-perform gasoline on a cost basis, due to substantial cost reductions for renewables & hydrogen technologies Norway Europe California avg. grid price Wind land based Solar (LCO
Slide 18: Record range and low cost achieved
Record range and low cost achieved The hydrogen opportunity • Hyundai recently launched next generation FCEV • Range of >800 km • Second generation FCEV from Hyundai will receive fourth generation fuel cell tech.: • ~20% lighter fuel cell • ~10 % more efficient • ~30% higher effect density • Commerc
Slide 19: Available and affordable
Available and affordable The hydrogen opportunity • All major car manufacturers are deploying Fuel Cell Electric Vehicles (FCEVs) • Hyundai, Toyota and Honda have already started FCEV sales & lease in California at affordable prices • Additional car manufacturers are expected to launch FCEVs models
Slide 20: Project examples
nel: Project examples
Slide 21: Hydrogen buses to Bodø, Norway
Case: 5 hydrogen busses to Bodø, Norway, with locally produced hydrogen Project examples Project overview: 5 VanHool FC buses (EU financing in place), C-150 Electrolyser & 1 H2Station® with multi-purpose dispenser Key figures: • Price of dispensed hydrogen: 42 NOK/kg • Price of diesel for bus: 10,50
Slide 22: ALSTOM rolling out hydrogen trains
ALSTOM rolling out hydrogen trains Project examples Exchanging diesel with hydrogen trains makes both environmental and business sense • Rather than high CapEx electrification, hydrogen is introduced at a fraction of the cost • Opportunities in Norway: • Raumabanen (114 km), Rørosbanen (384 km), Nor
Slide 23: Partnership with SunPower Corp.
Partnership with SunPower Corp. Project examples • Nel entered into a framework agreement with SunPower to construct and operate renewable hydrogen production tied directly to solar • First project of its kind in the U.S., located in California • Will serve the local market with 100% TRUE renewable
Slide 24: Agreement with Royal Dutch Shell Plc and H2 Frontier Inc.
Agreement with Royal Dutch Shell Plc and H2 Frontier Inc. Project examples • Signed exclusive frame agreement with Shell Map of current hydrogen stations in CA • Shell will cooperate with Toyota on 7 locations in San Francisco area • California Energy Commission contributing 16.4 MUSD and Shell/Toyo
Slide 25: Three stations + an electrolyser to Iceland
Three stations + an electrolyser to Iceland Project examples Awarded contract by Icelandic Hydrogen for three Initial hydrogen network in Iceland H2Station® hydrogen fueling stations and one NEL C- series electrolyser • Icelandic Hydrogen is the customer, JV between Nel and oil retail company Skelju
Slide 26: Multi purpose hydrogen station to ASKO
Multi purpose hydrogen station to ASKO Project examples Contract with ASKO, Norway's largest grocery wholesaler with 600 trucks on Norwegian roads • ASKO facility at Tiller, Trondheim • Locally produced renewable hydrogen from electrolysis – Will be tied to solar power from warehouse roof – Containe
Slide 27: Nikola One unveiled, Nikola Two announced
Nikola One unveiled, Nikola Two announced Project examples Class 8 hydrogen truck unveiled December 1st 2016 Nikola One • Up to 1,900 km range • 100 kg onboard hydrogen storage & 320 kWh battery • Surpassed $4 billion in pre-orders (as of Dec. 1, 2016) • Norwegian orders: • Tine, Tenden Transport, V
Slide 28: Hydrogen can be produced at a very competitive price from renewable
Hydrogen can be produced at a very competitive price from renewable Project examples Renewable power at <$50/MWh enables production of H2 at plant <$3.5/kg (compared to a pump price of $10-15/kg) >55.000 vars/year >1.000 buses/year <$50/MWh 24 x NEL A-485 electrolysers – 50MW <$3.5/kg >500 trucks/ye
Slide 29: Hydrogen ferry project
Hydrogen ferry project Project examples Nel part of the Norwegian project “HYBRIDskip” • Purpose of project: establish knowledge base for longer journeys/operational times in bigger vessels, based on battery and hydrogen technology • Target to realize a hybrid-ferry in operation by 2020 • Nel role:
Slide 30: 400MW renewable H2 plant to outcompete natural gas reforming
Project develop.: 400MW renewable H2 plant to outcompete natural gas reforming Project examples • Working on GIGA factory concept for renewable hydrogen production to outcompete natural gas reforming • Largest electrolyser plant ever designed • Addressing a USD ~ 150 billion market • International i
Slide 31: Summary/outlook
nel: Summary/outlook
Slide 32: Summary
Summary 1. At Nel we deliver solutions to ensure the success of hydrogen 2. Hydrogen already competitive with fossil fuels, and has reached “fossil parity” in numerous markets 3. Hydrogen cars, busses, trucks, ferries, ships are increasingly coming 4. Hydrogen can be used in every form of transporta
Slide 33: Q&A
nel: Q&A