Financing the Hydrogen Revolution, London, 26 February 2004
Scott Hulett
Clean, Reliable, On Site Energy…
No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means – electronic, mechanical, photocopying,
recording or otherwise – without the permission of Plug Power Inc. COMPANY CONFIDENTIAL Copyright 2003 by Plug Power Inc.
SAFE HARBOR STATEMENT
This presentation contains forward-looking statements, including
statements regarding the company’s future plans and expectations
regarding the development and commercialization of fuel cell
technology. All forward-looking statements are subject to risks,
uncertainties and assumptions that could cause actual results to
differ materially from those projected. The forward-looking
statements speak only as of the date of this presentation. The
company expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any such statements to
reflect any change in the company’s expectations or any change in
the events, conditions or circumstances on which such statement is
based.
2
STRATEGIC INTENT
Plug Power’s strategy is to be a leading provider of
clean, reliable on-site energy.
We will profitably develop, market, manufacture, sell and
support systems for energy consumers worldwide
who value reliability and energy security.
Product
Development
Sales &
Support
3
PRODUCT LINES
 Backup power products
•
•
•
Telecommunications
Broadband
Industrial uninterruptible power supply
 Battery-replacement modules
•
Material Handling Equipment
 On-Site hydrogen generation
•
Industrial gas applications
 Combined heat & power products
•
•
Remote residential
Small commercial applications
 Home refueling systems
•
Residential & automotive
4
PROGRESSIVE MARKET ENGAGEMENT STRATEGY




Attractive market opportunities - Niche and Mass
Government support increasing
Selling products now
Pursuing opportunities to enter commercial markets
• BACK-UP
– Telecom, Broadband & Uninterruptible Power Systems
• ON-SITE HYDROGEN GENERATION
– Generator Cooling & Metal Fabrication
• RESIDENTIAL AND SMALL COMMERCIAL
– Niche markets – Remote commercial and residential
– Mass markets - Grid parallel residential and light commercial
5
MARKET ENGAGEMENT
Innovators /
Early Adopters
Intermittent
Power
On-site H2
Generation
Remote
Stationary
Pricing
Value
Grid Parallel
Power
Automotive
Commodity
2020
2000
Progressive market engagement
6
FIELD EXPERIENCE
 144 systems are currently in the field
in 20 U.S. states and 9 countries at
37 different customer locations
 Systems have logged 800,000
operating hours and over 2M kWh
since 2001
 Installations are generating electricity
for research facilities, commercial
buildings, multi-family homes, military
bases, utility substations, residences,
a fire station, national laboratories
and universities.
7
MARKET ENGAGEMENT
Innovators /
Early Adopters
Intermittent
Power
On-site H2
Generation
Remote
Stationary
Pricing
Value
Grid Parallel
Power
Automotive
Commodity
2020
2000
Progressive market engagement
8
GenCore 5T
Value Proposition
 Backup power technology
designed to increase network
reliability while reducing system
operating expense
Applications
 Telecommunication back-up power
 Industrial uninterruptible power
 Substation back-up power
H2 fueled DC back-up power supply
Valve Regulated Lead Acid Battery Replacement
9
System Reliability Improvement
 Enable power redundancy or replacement for
existing backup power system (batteries)
 Provide scalable backup power for system outages
 Increases network power security via remote
connectivity
Operating Expense Reduction
 Eliminates battery replacement and maintenance
 Reduces personnel callouts during power outages
 Alleviates space shortages for next generation
telecom networks
 Reduces customer churn resulting from network
outages
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TYPICAL TELECOM INSTALLATION
Lighting
AC Grid
~
AC
Heaters
Air Conditioning
DC
911
Transfer switch
T1
Critical Service
AC Genset
DC Genset
Batteries
(8 hr)
GenCore systems replace or provide additional redundancy
11
-48V DC Converter
(Adjust -46Vdc to -56Vdc)
Cell Voltage Monitoring
5kW Fuel Cell Stack
-40C Cold Start Kit
Hydrogen Fuel Storage
(shown with composite tank Storage option)
Scalable hydrogen fueled fuel cell back-up power system
12
LIFE CYCLE COST
Battery Solution - Retrofit
Capital Cost
(Installed)
Cost of
Ownership
(5 Years)
Cost of
Ownership
(10 Years)
11,000
19,765
26,706
17,500
26,992
34,475
16,490
18,533
20311
(Battery replacement)
Battery Solution – New
(w/Battery Cabinet)
GenCore
• 5kW e-net rated system (80% operating load)
• 8 hrs of outage coverage
• Average 8 outage hours per year
• 4 Yr Battery Life
• Battery cost of $180 (100A-hr)
13
PHYSICAL COMPARISON
4hrs / E-G
Hybrid
8hrs
Battery
GenCore
GenCore
Max Height
52”
72”
72”
44”
Weight (Lbs)
2,770
3,790
1,250
800
Footprint (ft2)
12.4
7.4
10.0
9.7
Volume (ft3)
53.8
44.1
47.9
35.4
Price (installed)
15,268
11,667
16,490
16,490
Fuel Storage
(Steel)
Fuel Storage
(Composite)
LPG
Big Value
Item
Light weight, low profile
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GENCORE MARKET ACCESS
Telecom/Cable Broadband/UPS
Fueling Service
• Turnkey re-fueling
• Storage inventory
• Billing
Distributors
Multiple OEMs
OEM/Distributor channel
Plug Power
•
•
•
•
Field Service
Direct Sales
Product content
Collaboration
1. Technical
2. Marketing
Partnering for success
15
TECHNOLOGY COMPARISON

Extended back-up time operation

Scaleable

Low maintenance requirements

Simple operation

Predictable performance/runtime

Tolerant/flexible in diverse environments

Cost effective solution

Light-weight

Environment friendly
VRLA
First
Life-cycle
16