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MW PEM FCPower Plants
forChemical Industry
MiddelburgSeptember 24, 2010Jan Piet van der Meer
Agenda
2
• Introduction
• PPP business case
Focus
• Development and manufacturing of:
– PEM Fuel Cells – PEM Power Plants
3
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
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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
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Basics of the PEM fuel cell technologyInvented by Grove (1837)
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Water
Unique product
• XL and HP stacks• 1 – 10 kW peak
• H2/Ambient air
• Proven durability• High efficiency• CE marked• Robust• Recyclable
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Demonstration projects (I)
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Uniflex14 kW net rated power bio-ethanol/ H2/E generator (incl. bundles & reformer)
Purity4 kW net rated power H2/E generator
Demonstration projects (II)
9
FC Boat2 x 30 kW net rated power H2/E generators (Germanischer Lloyd certified)
HyTruck16 kW net rated power H2/E drive line
City bus Arnhem30kW
Track record
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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
Medium term markets
Fork lifts Generators Busses & Trucks
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Agenda
12
• Introduction
• PPP business case
13
PPP business case
Local conditions Resulting in
Hydrogen availability 2MW power equivalentPower price 60€/MWhHeat value 10€/MWhHydrogen value 0€/kgDiscount rate 16%Hours per year 8000Demi water value 0 €/m3
IRR …… %NPV …… K€Pay back time …… years
PPP business caseCapex, € mln
14
Total Capex
Blance of plant
OSBL
One-off stack costs
PPP business caseP&L, € ‘000
15
Hydrogen
Opex on site
0
GM
Power
Heat
EBIT
Service fee
PPP business caseCash flow, ‘000
16
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Business case PPP
Local conditions Resulting in
Hydrogen availability 2MW power equivalentPower price 60€/MWhHeat value 10€/MWhHydrogen value 0€/kgDiscount rate 16%Hours per year 8000Demi water value 0 €/m3
IRR 8.4%NPV (870)K€Pay back time 7 years
