Fuel Cells

1
Fuel Cells

• What Can We Expect?

2
Overview

• General Background
• Why Fuel Cells?
• Coming Soon?
• Additional Benefits Package
• 2nd Job Owning Car
• Basic Schematic
• Economic Analysis
• Investment Tips
• Links

3
Background
4
Background

• A PEM (proton exchange membrane) fuel cell is
  made of two plates sandwiched together with a
  plastic membrane coated with catalyst.
• Hydrogen from methanol, natural gas or petroleum
  and oxygen from air are fed through channels in
  the plates. Hydrogen on one side, oxygen on the
  other. The hydrogen and oxygen want to be
  together. The shortest way is through the
  membrane.
• But only part of the hydrogen atom, the proton,
  can pass through the membrane. The other part,
  the electron, has to take the long way around
  through an external circuit, creating useful
  electricity.
• The oxygen side attracts the protons and the
  electrons that have traveled through the external
  circuit generating the byproducts of water and
  heat.
• A fuel cell will operate continuously as long as
  hydrogen is supplied.
• By combining single cells, you make a fuel cell
  stack to produce the required amount of power.
• A fuel cell system consists of a fuel processor,
  air supply subsystem, cooling subsystem and
  controls.

5
Why Fuel Cells?

• High Energy Conversion to Electricity
• (40)
• Constant Power Production Reliability
• Good for computers especially servers
• 99.99 reliable
• Clean Emissions
• 200 kW fuel cell reduces
• 40,000 lbs of acid rain and smog causing
  pollutants
• 3.5 million lbs of carbon dioxide emissions
• Quiet Operation
• Choice of Fuels
• Can run on natural gas, propane, methane, and
  butane (gas and diesel coming soon)

6
Coming SoonGreat Company Benefits

• 401 K
• Full Health
• Dental
• Life

• Grid Hook Up in Parking Lot
• Heat Buy Back Program

7
Economic Analysis

• Concept Selling energy to the grid at home and
  at work
• Costs / Losses Considered
• Heat losses from fuel cell inefficiencies
• Power transformation losses
• Cost of Fuel Cell
• Profits / Gains Realized
• Maintenance
• Useful Heat
• Cheaper than buying electricity

8
Schematic
Home
Hot Water
9
Schematic
Look No Emissions
Office
Hot Water
10
Economic AnalysisAssumptions

• Fuel Cell Specifications - Ballard's Mark 900
• Fuel Cell Efficiencies
• nDC/AC .9
• nfuel cell .5
• Peak Power 75 kW
• Selling Price Home .12
• Selling Price _at_ Work .06
• Cost of Fuel .0437

11
Economic AnalysisYield Estimates
12
Economic AnalysisCosts / Losses
13
Economic AnalysisProfits / Gains
14
Economic AnalysisNet Results
15
Stock Tips!

• Ballard Power Systems (BLDP)
• Plug Power (PLUG)
• International Fuel Cells (UTX)
• Fuel Cell Energy (FCL)
• Mechanical Technology (MKTY)
• Platinum
• Watch for 3 or 4 more IPOs this year

16
Helpful Links

• www.ballard.com
• www.plugpower.com
• www.Internationalfuelcells.com