full cycle energy company overview
TRANSCRIPT
Company Overview
Joe Raguso CEO and President
Low-Cost, High-Durability Fuel Cell Components
Problem/Solution Overview
– Fuel cells are recognized as a fundamental technology capable of shifting dependence on fossil fuels to cleaner alternatives such as hydrogen.
Problem – Fuel cells have not achieved this goal due to high cost and low durability.
Solution – Full Cycle Energy has licensed two technologies that solves these problems – Alkaline membrane (HEMFC) enables Platinum-Free fuel cells reducing
cost of goods by 98%. – Platinum Nanotube (PtNT) catalyst uses 2/3 less platinum and increases
durability by 10x. Result
– These innovations enable fuel cells to be a cost effective solutions for • Grid-scale energy storage. • Fuel cell applications currently utilizing platinum catalyst membranes
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Core Technology Alkaline Fuel Cell Membrane
– PCT Patent filed October 2009 with October 2008 priority date – ARPA-E award (one of 37 out of 3,700 applicants) for Platinum-Free fuel cells – By switching from an acidic medium to a basic one, hydroxide (OH) exchange
membrane fuel cells (HEMFCs) can solve the problems of catalyst cost/durability while achieving high power and energy density
– In a basic environment, the cathode oxygen reduction over-potential can be
significantly reduced, leading to high fuel cell efficiency and increased durability. – The facile cathode kinetics allows non-precious metals to be used as catalysts,
reducing the cost of the fuel cell materials by two orders of magnitude. Silver costs $18/ounce vs. Platinum $1,600/ounce.
– HEMFCs offer fuel flexibility: methanol, ethanol, ethylene glycol
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Core Technology Platinum Nanotube Catalyst
Patents filed in US, EU, China, India, Korea, Japan with February 2006 priority date Current catalysts are made of particles of platinum supported on carbon
– Low Utilization– only 30% of platinum particles are utilized – Low Durability – the carbon support layer corrodes rapidly
Platinum Nanotubes (PtNT) solves both of these problems – 100% platinum utilization - Reduction of platinum cost by 2/3 – Tubular shape creates a rigid layer so no carbon support needed – Durability increased by 10X
Electron microscope photo of PtNT
Diagram of PtNT - Nanotube wall thickness is 2-3 atoms
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Markets
Grid Scale Energy Storage – Recovery during low demand – Storage during grid timing
mismatch – Smart-Grid power storage
Stationary Power
– Telecom backup – Data system backup – Residential
Military Systems – Unmanned aerial vehicles – Field battery chargers – Auxiliary power units – Low signature field power – Portable robots – Night vision equipment – Digital communications – Intelligence sensors
Personal Electronics – Laptop Computers – Cell Phones – MP3 players – Cameras
Portable Power Emergency power Camping RV’s and boats
Vehicles – Busses – Forklifts – Motorcycles – Scooters – Wheelchairs – Golf Carts – Automobiles – Trucks
Activities to Date • March 2008 – Acquired PtNT exclusive license • August 2008 - Scaled up PtNT production • October 2008 - Validated PtNT at Los Alamos National Lab • Jan – July 2009 – technical due diligence with potential customers (logos
below) who have requested samples of PtNT • July 2009 – Acquired Alkaline Membrane exclusive license • November 2009 – Dr. Yan received ARPA-E award for Alkaline Membrane • March 2010 – Dr. Yan presented HEMFC poster at ARPA-E
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PtNT Samples requested after technical due diligence completed by these customers
Business Plan
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PtNT Scale
Up
PtNT Commercial Integration
PtNT Sales
Year One Year Two Year Three Year Four Year Five
Alkaline Membrane R&D
Grid-Scale Energy Storage Prototype and Test
Alkaline Membrane Sales
Alkaline membrane needs additional R&D before it is ready for commercialization. During this time, revenue will be generated by PtNT sales
Grid-Scale Energy Storage Roll-out
PtNT has completed R&D and is ready to scale up manufacturing. Customers have been screened and are waiting for samples.
The Team
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Andrew Behar, CEO/Co-Founder – Acquired IP from UC Riverside with partner. Experienced in tech transfer and running
technology start-ups.
Yushan Yan, Ph.D. Chief Scientist Co-Founder – Professor and Department Chair, Chemical and Environmental Engineering, UC Riverside;
Chemical Engineering PhD Caltech; Inventor HEMFC, winner ARPA-E award, Other inventions currently being commercialized by NanoH2o and Intel.
Richard Lucien, CFO
– CFO Remend, The Brenner Group, Boostworks, Centura Software (Nasdaq: CNTR), Berkeley Systems, Spectrum Holobyte (Nasdaq: SBYT) and Nellcor.
Thomas Rambold, Advisory Board – 28 years as CTO at Siemens and running start-ups within Siemens. Currently consulting in IT
and communications and energy fields. Working with BASF, BMW and Volkswagen.
David Whelan, Ph.D., Advisory Board (Pending) – VP, General Manager & Deputy of Boeing Phantom Works advanced R&D, former Director
Tactical Technology Office (TTO) of DARPA where he developed first UAV’s
Investment Opportunity
$2,500,000
– Hire key scientific personnel – R&D to optimize Alkaline Membrane – Key sales/marketing and management hires with domain expertise – PtNT manufacturing capabilities – Increase staffing to assist customer integration of PtNT into commercial products – Optimize economic model for grid-scale energy storage system – Design and build grid-scale energy storage prototype with alkaline membrane – Hire key business development and marketing personnel
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Conclusion Full Cycle Energy has innovative fuel cell technology
– Low cost and durable fuel cell membranes that are Platinum-Free – Low cost and durable high energy density fuel cells that optimize platinum
Full Cycle Energy has product pipeline – PtNT is ready for manufacturing and commercialization
• Stationary back-up power • UAV’s • Military systems
– Alkaline Membrane enables Platinum-Free fuel cells • Grid-scale energy storage
Full Cycle Energy is at the nexus of next-generation fuel cells – Small capital investment for commercial breakthrough technology
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