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Real world Fuel Cell technology for commercialisation. Natural Gas infrastructure. Global OEMs Engineering capability Balance sheet. Real world. Business Model. Steel Cell Low Cost Robust High Efficiency . Technology. A commercially viable fuel cell.
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Real world Fuel Cell technology for commercialisation Natural Gas infrastructure Global OEMs Engineering capability Balance sheet Real world Business Model Steel Cell Low Cost Robust High Efficiency Technology A commercially viable fuel cell
Fuel Cells - A key part of our energy future • World energy demand increasing • + 25% by 2023 • + 56% by 2040 • Energy security increasingly important • US$80bn / year - grid outages cost in North America • Import dependency - Japan now uses 33% of world’s LNG • Natural gas increasing as part of energy mix • ~50% of UK electricity generated from natural gas • + 46% by 2030 • Consumers want lower energy bills • Heating consumes half UK energy supply • World energy demand increasing • + 25% by 2023 • + 56% by 2040 Fuel Cells + Distributed Generation = the most efficient way to generate power from natural gas
Revolution Initial proof of Mission Green commercialisation Critical Agenda What’s happening in the Fuel Cell Industry Revolution is only possible if at the right cost point
Why leading OEMs are evaluating STEEL CELL technology Mass adoption addresses 18m units/year domestic boiler market 1 At 20,000 volumes p.a.
Potential license deal structure Product Development License OEM partners Ceres License fee + royalties/unit Sales of cells/stack Manufacturing rights Sales revenue License fee + royalties/unit Cell/stack manufacturer / JV Ceres’ technology - $bn market opportunities 1 Assumes 10-20% market penetration, £100-200 per kW revenue,