H-power Plc · LSE:HPOW
H-power — AFC Energy — Shareholder Meeting (April 2022)
40 slides from H-power's shareholder meeting presentation, April 2022
Slide 1: Annual General Meeting
Annual General Meeting April 2022
Slide 2: The World's Leading Alkaline Fuel Cell Business
THE WORLD’S LEADING ALKALINE FUEL CELL BUSINESS • Market leading alkaline fuel cell technology • Growing list of international partners • Field demonstrated technology • Highly skilled team of 85+, growing to >150 • Strong balance sheet • Growing order book EMISSIONS-FREE SOLUTIONS TO THE WORLD’S EN
Slide 3: Financial Highlights
Financial Highlights Revenue Operating Loss £592,800 £10.4m Cash Burn £10.7m 2021 £55.4m Unrestricted Cash £1.6m £36m Income Tax Oversubscribed Receivable Fundraise EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGY CHALLENGES 3
Slide 4: Key Addressable Markets
KEY ADDRESSABLE MARKETS TODAY: STATIONARY FUTURE TARGET MARKETS: STATIONARY AND MOBILE RAPID PORTS EV CHARGING CONSTRUCTION MARITIME TEMPORARY POWER DATA CENTRES RAIL EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGY CHALLENGES 4
Slide 5: Three Pillar Technology Strategy
Three Pillar Technology Strategy Fuel Conversion & Filtration Integrated Energy Fuel Cell Technologies Technologies Solutions Power Tower (10kW + Battery) Ammonia Cracking [ 2NH3 → 3H2 + N2 ] Solid Polymer & Liquid FC Stationary, Temporary & Back-up Power configurations (40kW – 0.5MW) Steam Methanol
Slide 6: Commercial Highlights
Commercial Highlights EV Charging - First £4m “S” Series fuel cell order placed Contracted Pipeline Data Centre - Marketing of AFC Energy’s fuel cell system to ABB clients (at March 2022) - Design collaboration for ship propulsion and aux power Maritime Temporary Power - Largest Caterpillar diesel g
Slide 7: Partnership: Highlights
Partnership: Highlights - Corner stoned fundraise in April 2021 Corporate - High level corporate engagement with Management Team - Quality of engagement has led to extension of partnership to other verticals - Successful integration of AFC Energy fuel cell and ABB charger in Europe - First commercia
Slide 8: Construction Industry Highlights
Construction Industry Highlights • Plant Hire Oriented Business Model • First Deployments adopt Leasing Model • Power focus 10 – 100 kW/Unit • First Spanish deployment – June 22 • Strong Interest in Flex Fuel capability • Assessing next deployment sites • Power and H2 fuel scope of supply • Strong r
Slide 9: Operational Highlights
Operational Highlights Head Count Technology Advantage Technology Diversification ✓ Implementing Flex Fuel Strategy ✓ Delivered first “S” Series Fuel Cell Stack 87 • Hydrogen (as of 6 April 2022) • Ammonia ✓ Hybrid Fuel Cell (HFC) technology Introduction • Methanol ✓ Receipt of first commercial ammo
Slide 10: Usage Cases
CAEC Energy Usage Cases
Slide 11: Power Tower Product Series
Power Tower Product Series 10kW Power Tower EV with integrated Type-2 AC Charger 10kW Power Tower – 3 Phase AC Output EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGY CHALLENGES 11
Slide 12: 200kW S-Series Fuel Cell System
200kW S-Series Fuel Cell System • Strategic Partnership between AFC Energy & ABB to support the accelerated development of a solid membrane based alkaline fuel cell system • Incorporating ABB DCDC Power regulation to interface with a High Voltage DC Bus (>1kV) • Ammonia Fueled with integrated contro
Slide 13: Marinised Container Solution
Marinised Container Solution 3 x 250kWe Combined Pipe- Steel Internal (equivalent) runs at High level Segregation (Fire-stop Crackers Sealing) Maritime Membrane Power based Fuel Cell Solution Regulation & (3 or 4 x 200kW Gross FC) Local Switchgear Access doors / Maintenance (Normally closed) EMISSIO
Slide 14: Facilities Upgrades
we oe CAEC Energy Facilities Upgrades
Slide 15: Facilities Upgrades
Facilities Upgrades Office Space Growing Staff Nos. Centralisation of function & proximity to manufacturing space Prior to upgrade During upgrade After upgrade EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGY CHALLENGES 15
Slide 16: Facilities Upgrades
Facilities Upgrades Office Space During upgrade Prior to upgrade After upgrade After upgrade During upgrade EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGY CHALLENGES 16
Slide 17: Facilities Upgrades: Electronics Workshop
Facilities Upgrades Electronics Workshop After upgrade Prior to upgrade EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGY CHALLENGES 17
Slide 18: Facilities Upgrades: Hangar & Manufacturing
Facilities Upgrades Hangar & Manufacturing After upgrade Prior to upgrade During upgrade EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGY CHALLENGES 18
Slide 19: Facilities Upgrades: System Testing & Validation Area
Facilities Upgrades System Testing & Validation Area EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGY CHALLENGES 19
Slide 20: Fuel Cell Technology
CAEC Energy Fuel Cell Technology
Slide 21: Fuel Cell Technology Products
Fuel Cell Technology Products Core Stack Technology Scalable Power Units In-House Core Stack Platforms EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGY CHALLENGES 21
Slide 22: Fuel Cell Technology Products
Fuel Cell Technology Products “S” Series Electrodes Flex Fuel Capability Core Stack Technology S-Series, Flex Fueled Electrodes Upcoming Upcoming EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGY CHALLENGES 22
Slide 23: Fuel Cell Technology Products
Fuel Cell Technology Products “Hybrid” Stack Platforms Core Stack Technology “One Platform, Three Fuels” S-Series, Flex Fueled Electrodes EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGY CHALLENGES 23
Slide 24: Fuel Cell Technology Products
Fuel Cell Technology Products Core Stack Technology S-Series, Flex Fueled Electrodes Simple, Tightly Packaged Balance of Plant Efficient & Compact Balance of Plant EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGY CHALLENGES 24
Slide 25: Fuel Cell Technology Products
Fuel Cell Technology Products Core Stack Technology S-Series, Flex Fueled Electrodes Simple, Tightly Packaged Balance of Plant Simple Hook-ups & Control Interface EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGY CHALLENGES 25
Slide 26: Fuel Cell Technology Products
Fuel Cell Technology Products Core Stack Technology S-Series, Flex Fueled Electrodes Simple, Tightly Packaged Balance of Plant Modular Fuel Cell Units Modular Multi-Unit Configurations EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGY CHALLENGES 26
Slide 27: Fuel Cell Technology Products
Fuel Cell Technology Products Core Stack Technology S-Series, Flex Fueled Electrodes Simple, Tightly Packaged Balance of Plant Modular Fuel Cell Units Scalable Power Units Connected, Multi-Units deliver Scalable Power EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGY CHALLENGES 27
Slide 28: Fuel Cell Technology Products
Fuel Cell Technology Products Core Stack Technology S-Series, Flex Fueled Electrodes Simple, Tightly Packaged Balance of Plant Modular Fuel Cell Units Scalable Power Units Compact Footprint Easy Installation EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGY CHALLENGES 28
Slide 29: Fuel Cell Technology Products: 10kW Power Tower
Fuel Cell Technology Products 10kW Power Tower • Outdoor enclosures • Compliant with a broad range of outdoor environments • Single Unit Power up to 10kW • Default Configuration: 60V DC (default option) • Option : 230V AC (50Hz) * • Option : 415V AC 3-Phase * • Option : 600-800V DC • Option : Type 2
Slide 30: Flexible Fuelling
(QNXze Energy Flexible Fuelling
Slide 31: Flexible Fuelling: Alternative fuels to Hydrogen
FLEXIBLE FUELLING: Alternative fuels to Hydrogen Hydrogen Fuel Cell solution running from compressed Hydrogen is a simple and elegant H2 solution However, Hydrogen is not necessarily the ideal fuel for all customers Hydrogen Multi-Cylinder Pallet (MCP) Fuel Cell EXHAUST EMISSIONS-FREE SOLUTIONS TO T
Slide 32: Flexible Fuelling: Methanol
FLEXIBLE FUELLING : METHANOL Sustainable and Readily Available Hydrocarbon Fuels Exhaust CO, CO2 & H2 H2 H H C H H H O H H H H H H O O H H H H H H H O H H O H C H H H O H H C H H O Methanol Solution Hydrocarbon Reformer Hydrogen Purification Fuel Cell EXHAUST Hydrogen Generator EMISSIONS-FREE SOLUTI
Slide 33: Flexible Fuelling: Methanol
FLEXIBLE FUELLING : METHANOL Sustainable and Readily Available Hydrocarbon Fuels H2 H H H H H O H H H O H O H O H H H C H H H Methanol Solution Fuel Cell EXHAUST Hydrogen Generator EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGYSCRUBBING CHALLENGES 33
Slide 34: Flexible Fuelling: Methanol
FLEXIBLE FUELLING : METHANOL Future Technology Development – System Cost Reduction Exhaust Integrated Control Reformate Tolerant System Electrodes CO, CO2 & H2 CO, CO2 & Depleted H2 H H H C H C H H H O O O H O H H O Removal of H C H H O H H H H C O purification step to C H O reduce system costs & co
Slide 35: Ammonia Fuelling: Alternative Hydrogen Carrier Fuels
AMMONIA FUELLING: Alternative Hydrogen Carrier fuels Exhaust – N2 & Water Integrated Control Ammonia Cracked System Gas Tolerant Electrodes 75% H2 / 25% N2 Depleted H2 + N2 EXHAUST SCRUBBING N H O H N H N H H H H H N H H + H O H H H H H H N H H H H H H O H H H H Bulk Liquid Ammonia Cracker Fuel Cell
Slide 36: Flexible Fuelling
FLEXIBLE FUELLING AFC Energy Validation of Fuel Processing Technology Deck Mounted Ammonia Fuel Store Methanol Reforming Ammonia Cracking EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGY CHALLENGES 36
Slide 37: Outlook
CAFC Energy Outlook
Slide 38: Outlook
Outlook ❑ Environmental and Geopolitical drivers highlighting need for clean energy diversification: ❑ Hydrogen receiving strong support ❑ Regulatory and fiscal support through removal of Red Diesel subsidy in the UK ❑ “S” Series Hybrid Fuel Cell systems delivered to customer sites ❑ ABB collaborati
Slide 39: Questions?
Questions? www.afcenergy.com EMISSIONS-FREE SOLUTIONS TO THE WORLD’S ENERGY CHALLENGES 32
Slide 40: Disclaimer
DISCLAIMER These presentation slides and the accompanying verbal presentation (the “Presentation Materials”) do not constitute or form part of or other similar wording. By its very nature, such forward-looking information requires the Company to make assumptions that may not any offer for sale or su