Nel Hydrogen. October 23 rd, Jon André Løkke CEO

Transcription

1 Nel Hydrogen October 23 rd, 2018 Jon André Løkke CEO

2 The color of hydrogen On the hydrogen emission spectrum we find the color purple, with a wavelength of 410 nm. Nel is the color of hydrogen. 2

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4 Three business segments Nel in brief Global, listed pure-play hydrogen company facilities in Norway, Denmark and the U.S., ~16,000 shareholders Significant foothold in fast-growing markets with several breakthrough contracts World-leading on hydrogen electrolyzers and fueling equipment unrivalled performance and track-record >3,500 hydrogen solutions delivered in ~80 countries world wide since 1927 ~40 hydrogen fueling stations delivered to 9 countries, and delivering to South Korea in 2019 Capable of delivering solutions to produce, store and distribute hydrogen from renewable energy Hydrogen Electrolysers Hydrogen Fueling Hydrogen Solutions 4

5 Nel Hydrogen Electrolyser Production and installation of water electrolysers for hydrogen production Nel Hydrogen Electrolyser Global leader in water electrolysis based hydrogen production plants highest uptime, lowest conversion cost, robust and reliable Scalable production capacity for industrial and energy/transport applications small scale to large scale solutions Alkaline & PEM electrolysis, also <10 bar ideal for the Japanese market Solar Grid Wind Containerized solutions Up to 1000kg/day Alkaline and PEM electrolyzers Scalable and modular Large scale plant solutions Up to any capacity 5

6 Nel Hydrogen Fueling Production of hydrogen fueling stations for cars, buses, trucks, forklifts and other applications Nel Hydrogen Fueling Global leader within hydrogen fueling solutions for vehicles, adapted to latest fueling standards Delivered ~40 stations in 9 countries across Europe, US and Asia CE & UL approved Dispenser assembly 5-stage H2Station assembly Highest reported availability and innovative, inhouse developed technologies 35MPa 35MPa World s largest manufacturing facility for H2Stations : 300 station per year capacity 70MPa H2Station 6

7 Nel Hydrogen Solutions Utilizing market opportunities across the Nel group and offers complete solutions to customers Nel Hydrogen Solutions Unified delivery of complex renewable hydrogen solutions, efficient system integration, project development and sales across segments Sole provider of integrated solutions along the entire value chain: 1. Fueling Networks 2. Renewable Hydrogen & Storage Solutions 7

8 Fossil parity - renewable hydrogen from electrolysis reaching a tipping point

9 We want to change the world and make renewable hydrogen mainstream, not a niche product like it is today

10 Global hydrogen market General market update Large opportunities for electrolysis within existing hydrogen market ~55 million ton/year market (~150 BUSD) 15% merchant market (5 15 $/kg) 85% on-site (~2$/kg) Only 1% from water electrolysis today, rest from SMR/gasification Large potential for growth, driven by increasing focus on: climate and renewable energy decreasing electricity prices decreasing electrolyser CAPEX Special focus on refineries and green ammonia Account for ~80% of market Assuming that total market is supplied by electrolysis, annual market potential would be >20 B$/year Global hydrogen market, by end-use: Ammonia Refineries Methanol Other 10

11 Solar PV Onshore wind Offshore wind Renewable hydrogen from electrolysis becoming more and more competitive General market update CapEx: Electrolyzers from Nel - becoming competitive with SMR OpEx: Renewable energy already enables fossil parity for hydrogen $/kw Cost split of H 2 /Kg 7.3 >700 $/kw historic capacity SMR CapEx range <500 $/kw under construction <350 $/kw future scale-up CapEx* OpEx** U.S. cents/kwh 5.4 Large scale steam methane reformers Nel large scale alkaline electrolysis Source: Pareto Securities, Lazard EUR/USD: 1:1.2 FOSSIL PARITY: INDUSTRY FOSSIL PARITY: FUEL *incl. service, maintenance & operation **electricity 11

12 Current markets served by electrolyzers Food Industry Glass Industry Polysilicon Industry Laboratories Transport Sector Chemical Industry Steel Industry Power Industry Life support Power-To-X (ammonia, refineries, methanol, steel/titanium. etc) Historical market New markets 12

13 New markets, Power-To-X Unparalleled position of electrolysis in producing other green energy forms POWER-TO-PIPELINE (GAS) Hydrogen from electrolysis will be key in producing large quantities of sustainable energy in various forms Ability to adapt to diverse and intermittent renewable energy sources becoming increasingly important Power H 2 + CO 2 + CO 2 POWER-TO-FUEL (TRANSPORT) POWER-TO-POWER (ENERGY STORAGE) POWER-TO-LIQUID (BIOFUEL) POWER-TO-NH 3 (GREEN AMMONIA) POWER-TO-CH 3 OH (GREEN METHANOL) POWER-TO-CH 4 (GREEN METHANE) POWER-TO-STEEL/TITANIUM (CO2 FREE) POWER-TO-REFINERIES 13

14 Hydrogen is becoming relevant in all forms of transportation hydrogen solutions 14

15 How we reach fossil parity

16 Awarded multi billion NOK electrolyzer and fueling station contract by Nikola The transformational Nikola partnership Contract for delivery of up to 448 electrolyzers / 1 GW of electrolysis Developing Nikola s hydrogen station infrastructure in the U.S. Multi-billion NOK electrolyzer and fueling station contract, to be deployed from 2020 Nikola received order from Anheuser- Busch and raised capital Up to 800 Nikola trucks 16

17 Constructing the world s largest electrolyzer manufacturing plant Construction of mega-factory Name plate capacity of 360 MW per year, more than 10x current annual production Highly automated and designed according to lean manufacturing principles Industrial scale electrode production of the markets most efficient electrolyzes at a game changing cost Manufacturing plant will be constructed as an extension of the current facility at Notodden, Norway Operational in 1H 20 with ramp-up aligned to customer requirements Aiming at system cost reduction of more than 40% 17

18 Making renewable hydrogen mainstream Changing industries Construction of mega-factory Cost efficient alternative to natural gas reforming Targets to make electrolysis an attractive and renewable alternative to steam methane reforming of natural gas (SMR) 20 MW standard electrolyser unit, producing 8 tons of hydrogen per day at a cost comparable to SMR Large scale production combined with CapEx efficient design Sharing common infrastructure, like gas separator tanks, transformers, rectifiers, etc. 8-cluster electrolyzer solution, produces 8 tons of hydrogen per day 18

19 Have developed the largest H2Station plant in the world Nel Hydrogen Fueling World class production and development facility Enables UL-certified standardized production Name-plate production capacity of ~300 stations/year Price: ~1 M /station (500/1500 kg/day at 700/350 bar) Adm. + R&D Production/Assembly /logistics 19

20 Japan still needs deregulation to enable a true, commercial hydrogen market Adopting international standards will accelerate H2 deployment & reduce cost significantly 1. Japan announced a deregulation process several years ago, Nel would like to see a stronger efforts in this area: Will make introduction of hydrogen much less costly and more efficient also enabling Japanese companies to compete internationally 2. In order to accelerate international standardization in Japan, should allow METI to establish and operate proven international hydrogen stations: Start with non-commercial facility (e.g. HySUT), then expand to commercial stations 20

21 Hyundai s new FCEV NEXO just launched in Norway looking forward to next gen. Toyota 21

22 Number one by nature