2012 capital markets days seoul - fuel cells
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Key developmentsin Fuel Cells
Capital Markets EventSeoul, 23 May 2012
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What is a fuel cell?
Fuel cells generate electricity by means of a reversible electrochemical reaction
Energy supply is hydrogen and oxygen,by-products are water and heat
Oxygen is taken from ambient air
Hydrogen source can be pure H2 gas, natural gas, methanol or other organic materials
Hydrogen is stored outside the fuel cell ina separate tank
Performance characteristics
Energy is mainly determined by the size of the storage tank
Power is determined by the size of the fuel cell stack
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Fuel cell types
Proton exchange Membrane Fuel Cells (PEMFC) are dominant technology
Mainly used today in stationary applications in Asia and transport in North America
Performance characteristics make it best candidate for automotive applications
Uses H2 gas as energy source
Scalable from W to MW
Suitable for dynamic operations(e.g.: start/stop, drive cycles,…)
Direct Methanol Fuel Cells (DMFC) is a variant, using methanol as energy source
Other types (PAFC, AFC, MCFC, SOFC) have more limited applications due to their stringent operating conditions
Installed in small numbers for very large and continuously operated applicationsFuel cell shipments in 2010
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Current market
Today first commercial products are produced for slowly developing markets
Back up power
Off grid systems
Specialty vehicles
Buses
Distributed energy generation
Residential Combined Heat-Power (CHP) units
Commercial applications dominated by PEMFCs
2.30
54.8
32.9
Portable electronicsStationaryTransport
[MW]
Fuel cell shipments in 2010
Source: Fuel Cell Today
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Early commercial/prototype phase
(mainly mobility)
Market introduction(mainly stationary power)
Estimated timeline of market introductionor early commercial phase
2010-12
Source: Canadian Hydrogen & Fuel Cell Association
2012-2014
2015-2020
Backup Power
Market 2011 > 1000 units
Materials Handling
Market 2011 > 1000 units
CHP units
Market 2011 > 10,000 unitsin Japan
Distributed Generation
Market 2011 < 10 units
Bus
Market 2011 > 10 units
Car
Market 2011 > 100 units
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Why do we need fuel cells in automotive?
In order to achieve the EU CO2 reduction ambition of 80% by 2050,road transport must achieve 95% decarbonisation
Portfolio of PHEVs, BEVs and FCEVs is only long term solution to obtain this decarbonisation target
In a decarbonised road transport world FCEVs are the only solution offering longer driving ranges
100
50
150
00 400 600200 800 1000 1200 1400
CO2
emission[g/km]
Range[km]
ICEdiesel
ICEgasoline
PHEV
FCEV
BEV
2010
2050
2010
2050
2010
2050
2010
2050
2010
2050
EU 2015target
EU 2020target
ICE Internal Combustion Engine-powered vehicle
BEV Battery-powered Electric Vehicle
HEV Hybrid Electric Vehicle
PHEV Plug-in Hybrid Electric Vehicle
FCEV Fuel Cell-powered Electric Vehicle
Source: A portfolio of power-trains for Europe: A fact-based analysis (EU coalition study 2010)
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Major OEMs have fuel cellson their development roadmap
First market introduction for FC-powered cars planned in 2012, 2013, 2014 and 2015
Fuel cell-powered buses are already sold commercially by Daimler, Toyota, Hyundai and integrators such as Van Hool
Source: GM LBST compilation
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Current state of the automotive fuel cell market
Programmes are agreed to roll out fuel cell cars and infrastructure simultaneously between
Public authorities
Automotive OEMs
Infrastructure companies
Programs are in place in
Europe
USA
Japan
KoreaSource: Canadian Hydrogen & Fuel Cell Association (2009)
Steps paving the way to commercialisationof fuel cell electric vehicles
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Current state of the automotive fuel cell market
There are satisfactory solutions to address main technical hurdles such that the development of commercial vehicles can continue
Water management
Cold weather operation
Performance
Durability
System size
Cost reduction is remaining issue, for which OEMs identified ways to get there
Mass production and economies of scale
Further material and system advancement
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2010 2015 2020 2050
Lifetime[‘000 km]
115 180 247 290
Pt use[g/kW]
0.93 0.44 0.24 0.11
The fuel cell cost curve
Significant cost reductions to be obtained
Engineering technical issues
Design and materials innovation
Process cost reductions
Mass production effect
Fuel cell system cost reduction objectives*
By 2020 -75%
By 2050 -95% MEA (incl. catalyst) -90%
Catalyst (incl. Pt) -80% * Source: A portfolio of power-trains for Europe: A fact-based analysis (EU coalition study 2010)
Fuel cell system cost (in car)
-95%
Cost
MEA
Catalyst -75%
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Platinum availability
FCEV today needs more Pt than in an emission control catalyst
Today some 5-10x more or ~40g per car
Product expected to reduce this by 50% by 2050 (20g) and a further 50% by 2050 (10g)
Total availability of Pt is a concern to meet growing penetration of FCEVs
1 million FCEVs by 2020 would represent ~20 tons of Pt
20 million FCEVs by 2050 would represent ~200 tons of Pt
Compares to today's total supply of ~240 tons (including recycling for 25%)
US department of Energy indicated this long-term trend can be met
Mining capacity to be increased, requiring adjusted and more advanced mining technology
Efficient recycling will be key (available today at Umicore, closed loop models are a must)
Mobility behaviour will have to change (mix of BEVs, FCEVs, public transport)
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Hydrogen availability
Hydrogen generation/distribution is not a technical issue
Hydrogen filling stations are existing technology
They can be built in growing numbers in the coming years by the industrial gas players (e.g. Linde, Air Liquide)
Hydrogen can be produced from renewable energy, without any CO2 emissions, creating new energy and mobility business model opportunities
Hydrogen can be used as storage medium for electricity by using electrolysis
Large energy and utility companies are investigating large scale energy storage technology by means of hydrogen
These initiatives complement the fuel cell mobility case, for which green hydrogen is the clear expectation of the public
Linde hydrogen filling station
Honda hydrogen filling station
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Recycling
chemistrymetallurgy
materials science
materialmaterial
Completes Umicore’s technology exposure to automotive roadmap
Future car will be electrical, most probably hybrid, with battery and fuel cell
Automotive industry is major driver for fuel cell technology
Fit with Umicore business model
Precious metals containing added-value materials
Recycling is key in the model
Close technology fit with Umicore business
Precious metals chemistry and catalysis
Close application fit with Umicore business
Energy products
Automotive end user market
Why is Umicore active in fuel cells?
materialsolutions
PGMs
CatalysisPM chemistry
Recycling
EnergyAutomotive
Fuel Cells
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Umicore combines efforts with Solvayforming SolviCore
50%
50%
PM-basedcatalysts
Membraneionomer
MembraneElectode
Assemblies(MEA) Fuel cell
producer
Each player is focused on own products and technology
Umicore and Solvay can also supply other MEA producers,while SolviCore can also source from other suppliers
The key componentof the fuel cell
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Company PMprecious metals
PMCprecious metals
chemistryCatalyst
Membrane ionomer
MEAMembrane Electrode
Assembly
Recyclingof PM
Umicore / SolviCore
(Umicore)
(Umicore)
(Umicore)
(Solvay)
(SolviCore)
(Umicore)
BASF Concentrating on High TemperaturePEM-MEAs
Johnson Matthey
Gore
3M
Tanaka
Umicore/SolviCore/Solvay combination ideallyplaced in competitive landscape for automotive fuel cells
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H2/air
Automotive
H2/O2
StationaryCHP, APU, UPS*
H2
generationH2/air *combined heat and power
generation auxiliary power unit uninterrupted power supply
SolviCore is addressing the following MEA marketswith multiple collaborations
RefH2/air
PEM electrolysi
s
Collaboration withmultiple OEMs
Collaboration withsome engineering
companies
Collaboration withsome engineering
and gas companies
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Collaboration examplesAutomotive drivetrain fuel cell
Umicore and SolviCore are official partners in Volkswagen´s HyMotion 5 project
Development of1st German automotive fuel cell stack for the HyMotion 5 car fleet
Introduction expected by 2015/16
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Collaboration examplesAutomotive Range Extender Fuel Cell (REFC)
Michelin developed a 5kW H2/air REFC for vehicle integration with SolviCore MEAs for FAM auto for an electrical F-City vehicle
Presented at Michelin Challenge Bibendum in 2011
Michelin started commercialisation of REFCconcept in 2011
Renault is working on battery Range Extender Fuel Cell concepts (REFC) in close collaboration with SymbioFCell
Goal to overcome range and recharge time limitations of Renault’s ZE vehicle fleet
An REFC and battery powered HyKangoo with SolviCore MEAs will be presented by Solvay together with Renault Tech and SymbioFCell in June 2012 at Solvay Tavaux, France
5 kW RE
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Collaboration examplesStationary fuel cells
Air Liquide intensified its hydrogen and fuel cell program in the last 2 years and is now leading the French H2E and H2 mobility program
Air Liquide and Indian Barthi telecom (first Indian telecom service provider) signed MoU which should lead to the foundation of a JV to provide electric energy to remote telecom towers as a service based on hydrogen and fuel cell (“Off-Grid”)
SolviCore is Axane´s long term partner for all systems employed until today
Off-Grid
Backup
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Collaboration examplesSolvay’s Lillo plant, hydrogen stations & transports
Solvay installed a 1 MW PEM fuel cell unit in 2011 at its plant in Lillo, Belgium with MEAs supplied by SolviCore
Produces electricity from hydrogen by-product coming from chemical electrolyis plant
Plant can be used to monitor >10.000 MEAs in real life operation
Solvay will install and operate 2 hydrogen filling stations
Lillo (Belgium): Support hydrogen bus fleet in the port of Antwerp
Tavaux (France): Support local hydrogen driven vehicles
Solvay will operate 2 Renault HyKangoos at its Tavaux plant (France) in June 2012
In collaboration with Renault Tech, SymbioFCell and SolviCore
In the framework of the French H2E program
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Forward-looking statements
This presentation contains forward-looking information that involves risks and uncertainties, including statements about Umicore’s plans, objectives, expectations and intentions.
Readers are cautioned that forward-looking statements include known and unknown risks and are subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of Umicore.
Should one or more of these risks, uncertainties or contingencies materialize, or should any underlying assumptions prove incorrect, actual results could vary materially from those anticipated, expected, estimated or projected.
As a result, neither Umicore nor any other person assumes any responsibility for the accuracy of these forward-looking statements.