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Home , Hydrogen storage

Prometheus Bringing safe & efficient storage to humanity Team receives $8 million in funding!

Jeffery Urban Eun Seon Cho Anne Ruminski

With commitments from leading car and stationary-power manufacturers…interest [in hydrogen] is once again swelling in this carbon-free technology. Julie Chao, LBNL 2 Hydrogen is a game-changer

H2

208 miles Range 312 miles

Refueling 5 – 10 hours Time 5 minutes 3 Hydrogen offers many advantages

✓ Has multiple uses: - transportation - grid - industry

✓ Can be stored long term

✓ Potentially better for the environment than alternatives

4 Source: IEA 2015 technology roadmap – Hydrogen and cells …But concentrating H2 is difficult

- 253°C (- 423°F)

700 bar (10,000 PSI) Hydrogen is the lightest element on earth High pressure storage is dangerous

Potential of high pressure rupture of tank

700 bar (10,000 PSI) Hydrogen is the lightest element on earth Metal store H2 as solid

MetalMetal (e.g. (M-H)Mg, Al, Li)

Solid storage is safer and more dense 7 Prometheus: next generation H2 storage

Nanotechnology

1. Faster

2. Lower 3. Lower Temperature Pressure 8 Lower pressure, safer storage

Compressed H2

• High pressure (700 bar)

• Flammable & explosive

• Gas leak – energy loss

9 Lower pressure, safer storage

Compressed H2 Prometheus

• High pressure (700 bar) • Lower pressure (15 bar)

• Flammable & explosive • Safer

• Gas leak – energy loss • Less/no gas leaking

10 Smaller volume

Smaller volume = easier integration + more space

Prometheus Other metal Liquid H2 Compressed H2 hydrides (700 bar)

11 Smaller volume

Smaller volume = easier integration + more space

Prometheus Other metal Liquid H2 Compressed H2 hydrides (700 bar)

Model S: enabled by modularity of battery pack 12 Advantages of Prometheus

Prometheus Compressed H2 Liquefied H2 Pressure (safety) ✓ x x Design Modularity ✓ x x H stored per volume 2 ✓ x x H stored per mass 2 x ✓ ✓

Tank + H2 + Tank + hydrogen metal hydride

130-150 kg 120 kg 28 kg Prometheus: heavier Compressed Liquefied Prometheus has great potential

Prometheus – Competitive and Improving Gravimetric DOE Targets for 2020 (kWh/kg) Current

0 0.5 0.9 1.4 1.8

14 Prometheus has great potential

Prometheus – Competitive and Improving Gravimetric DOE Targets for 2020 (kWh/kg) Current

Prometheus – Best option Volumetric (kWh/L) DOE Targets for 2020 Current

0 0.5 0.9 1.4 1.8

15 *Graph values are for overall system weight and volume Prometheus has great potential

Prometheus – Competitive and Improving Gravimetric DOE Targets for 2020 (kWh/kg) Current

Prometheus – Best option Volumetric (kWh/L) DOE Targets for 2020 Current

0 0.5 0.9 1.4 1.8 ✖ Pressure ✓ (bar) 700 15 700 bar 15 bar 16 *Graph values are for overall system weight and volume Automotive is the holy grail

Auto Industry Sales $126.9 Billion

DOE H2 & Technology Funding: Fuel Cell 103 97 Government 92.9 funding FY 2014 FY 2015 FY 2016 (Request)

179 FCEVs in 2015 10K by 2018 Private investment 44 stations in 2015 51 by 2016 (enough for 13K FCEVs) 17 …but we have 3 main challenges

Beating the status quo Deploying in Automotive

Must replace high pressure Deploying in Automotive will systems in vehicles AND require 2-5 years after refueling stations technology is proven 18 …but we have 3 main challenges

Insufficient Hydrogen refueling infrastructure

Lack of infrastructure prevents adoption

19 Pursue Automotive in the future

Year 5: Larger Year 1 Year 2 market

20 So, where do we begin?

We looked into several sectors and prioritized immediate opportunities Customer pain points Customer pain

21 Familiarity with Hydrogen Start where the pain is high

Submarines Materials Handling

Current Store hydrogen in compressed Use chemical batteries or tanks compressed H2

Value Proposition Safety & space concerns Strict emission limits & high operations efficiency

Market Size $28B US gov’t spending on $12.2B market for forklifts submarines (next 10 years) 22 Market Plan - Year 1

Year 1: Year 2: Proof of Year 5: Larger Initial stage concept market

23 Initial Market: Nuclear Submarines

Drop-in

• Nuclear submarines store H2

• Distribution channel in place

24 Initial Market: Nuclear Submarines

Drop-in solution Superior value proposition

✓ Nuclear submarines store H2 • Increased safety

✓ Distribution channel in place • Space Savings • Competitive advantage

25 Initial Market: Nuclear Submarines

Drop-in solution Superior value proposition

✓ Nuclear submarines store H2 ✓ Increased safety

✓ Distribution channel in place ✓ Space Savings ✓ Competitive advantage

26 Entry Plan: >>> License the technology

• High willingness to pay + • Potential funding during proof of concept

? • Licensing structure

• Exclusivity clause

27 Market Plan - Year 2

Year 1: Year 2: Proof of Year 5: Larger Initial stage concept market

28 Proof of concept: Materials handling

Drop-in solution

• Large companies use H2 powered forklifts Proof of concept: Materials handling

Drop-in solution Superior value proposition

✓ Large companies use H2 • Increased efficiency powered forklifts • Space savings

30 Proof of concept: Materials handling

Drop-in solution Superior value proposition

✓ Large companies use H2 ✓ Increased efficiency powered forklifts ✓ Space savings

31 Entry Plan: >>> Partnerships

• Compatible with fuel cells • Low pressure requires less capital expenditures

+ • Facilitates deployment of hydrogen powered materials handing

? • Partnership conditions

32 Licensing ▪Partnership Testing ▪Fuelling infrastructure work Year 1 Year 2 Year 5 Licensing

Partnerships

Testing 33 Prometheus promises great change

Safer Efficient Reversible Travis Axelrod, MBA Adrián Gómez, MBA Dulce Kadise, MBA

Norman Su, PhD Kevin Wujcik, PhD Nikolas Thiessen, MBA

Questions? APPENDIX

36 Hydrogen stations

Construction and Setbacks

• Fire Safety code limits potential locations for hydrogen stations

• Underground storage can resolve the problem but it’s more expensive to implement

• Current Hydrogen vehicle refueling stations cost between $1-9M to build Setbacks are applicable to a 7,000 psi hydrogen system *1,500 liter storage tank +Only pertains to dispensing equipment

37 Source: DOE, Alternative Data Center - http://www.afdc.energy.gov/fuels/hydrogen_infrastructure.html#setbacks Safety regulations

▪75 foot buffer between hydrogen storage Rules tank and fill line for fueling stations

▪Lower Flammability Limit: 4% by volume ▪Upper Flammability Limit: 75% by volume Metrics ▪Liquid hydrogen leaks at rate of at least 1% total per day ▪500oC Auto-ignition temperature Incentives for H2 economy

Research and ▪ Low and Zero Emission Vehicle Research, Demonstration, and Deployment Funding consumer ▪ Tax Exemption, etc… incentives

▪ Vehicle Acquistion and Fuel Use Government Requirement for Federal/Private and Local fleets Governement Fleets Cost to store 5 kg of hydrogen

High Costs at early Stage Lab results:

vs.

Industry: $4,000 Lab: $4.2M1

Current H2 cost breakdown ($2.50/kg H2): Other Cooling

Dispenser

60% Storage Compression

Calculations: 40 1. Based on Lab Scale costs = $50/gram x 1000 gram/kg ÷ 6% x 5kg = $4.2M Challenges on the path to market

1. Adapt & expand infrastructure

2. Reduce costs: laboratory to market

41 Phase 1: Phase 2: Initial Secondary Research Research

42 Our 20,000 ft view

▪ Initial brainstorming exercises yielded 20 potential applications:

Hypothesis Category # Hypotheses (Nano MgH can be used...) Back-up 1 For stationary remote (ex. telecommunications towers, remote camp grounds, Power etc.) 2 For portable remote energy storage (ex. military applications, supply power for remote events) 3 To power handheld conusmer electronics 4 To provide energy storage for residential applications Long- 5 For Space Travel duration 6 For travel by sea: Submarine travel 7 For travel by sea: Boat Utility 8 MgH is better suited for utility scale storage than other storage technologies services 9 MgH has multiple applications for utility storage 10 For energy resiliency in the space constrained private sector (ex. Google, Apple, public transit) Hydrogen 11 To produce hydrogen (ex. split H2 from water) production 12 To capture hydrogen from other gas/chemical byproducts (ex. refineries, wastewater treatment plants, etc.) Freight & 13 To power light-duty vehicles Travel 14 To power heavy-duty vehicles and machinery 15 To power airplanes Other 16 MgH can be used to capture other gases (ex. CO2, , etc.) areas 17 For heat recovery and cooling (ex. leverage excess heat from combined cycle plant) 18 To store and utilize hydrogen in non-energy applications (ex. chemical manufacturing, , glass production, electronic manufacturing, etc.) Initial 19 To produce Nano-magnesium batteries (chemical storage) 43 Research 20 To generate licensing revenue from the nano-material production process Reducing our Hypotheses

▪ We used high-level research to categorize 20 potential applications into High, Med, Low attractiveness:

HIGH LEVEL RESEARCH 1. Portable Energy storage (ex. military) 2. Space Travel Investigate why people would/wouldn’t use H 3. Submarines I nano-Mg. Answer these questions: 4. Boats G Has anyone spoken about cells in 5. Private sector energy resiliency H your sub-category? 6. H2 capture from other gases Is there more than one substitute in your sub- 7. Heavy duty vehicles (ex. material handling) category? Does the market benefit from the following 1. Remote energy storage characteristics? 2. Handheld consumer electronics M (a) Durability & Reversibility 3. Other utility services (ex. micro-grids) E (b) Design freedom 4. Light-duty vehicles D (c) (a.k.a. energy per weight) 5. Heat recovery & cooling (d) Emissions 6. Pursue Licensing revenue (e) Safety / Stability of storage 1. Residential applications (f) Other 2. Utility scaled storage Is the government invested in developing L 3. To split H2O hydrogen solutions in this sub-category? O 4. Aviation Is this a monopoly or oligopoly? W 5. Capture other gases (ex. CO2) Would this be a drop-in solution? (i.e. is the 6. Store H2 for other industries infrastructure already established) 7. Nano-Mg chemical batteries Why should we pursue this? Why should we not pursue this? Initial 44 Research Phase 2: New Converging Criteria

Category Sub-category Description Grading 0-4 (4=good)

Market Market Size Total Industry Value ($M) – based on total sales or GDP spent attractiveness on that industry Market Fragmentation Monopoly, Oligopoly, Competitive Market – barriers to entry

Stability Age of market, main market influencers

Pain points Specific problems that can be solved by hydrogen storage

Ease of entry Size of customers, Sales channels, switching costs

Competitive Landscape Existing competitors & substitutions

Product Clear Need Clear need for nano-Mg Market Fit Level of Familiarity Do stakeholders know about hydrogen & metal hydrides?

Technology Fit Time/resources required for our technology to meet customer needs Deployment System Integration Is this a drop-in solution?

Partnerships required Stakeholder we need to work with in order to succeed

Regulatory Landscape Is this industry highly regulated? Could there be subsidies for us? Initial Secondary 45 Research research Transportation

Category Sub-category Space Boats Key Insights: Travel

Market Market Size ▪ Market size is promising attractivene ss ▪ Every inch counts on a Market Fragmentation space ship and our product Stability would address this need Pain Points ▪ Strong push for clean and Ease of entry efficient sources for boats Competitive Landscape ▪ Different categories of boats Product Clear Need would facilitate entry and Market Fit allow us to experiment Level of Familiarity ▪ It will be difficult to enter Technology Fit the space industry Deployment System Integration Partnerships required ▪ Finding the right niche for Legend: Regulatory Landscape boats could be challenging = 4 = 3 = 2 = 1 = 0

Initial Secondary 46 Research research Utility Electricity

Category Sub-category Por- Pri- Heavy table vate Duty Key Insights: Market Market Size attrac- Pros: tiveness Market Fragmentation ▪ Potentially large market - very Stability likely to grow in the future Pain points ▪ Few competitors Ease of entry Challenges: Competitive Landscape ▪ Selling the benefits of the Product Clear Need Market Fit technology Level of Familiarity ▪ Need for partnerships Technology Fit ▪with machinery manufacturers Deployment System Integration to bundle our technology, and Partnerships required ▪with Fuel Cell Companies to Regulatory Landscape Legend: provide an energy solution = 4 = 3 = 2 = 1 = 0 Initial Secondary 47 Research research Industrial (Hydrogen Waste)

Category Sub-category H2 Sub- Key Insights: Capture marine s ▪ Market is huge (industrial Market Market Size hydrogen: $103bn, submarine: attractivenes s $88bn) Market Fragmentation ▪ Pain point - hydrogen Stability separation/capture from Pain points and O2/breathable Ease of entry air generation on subs Competitive Landscape ▪ Submarine perk: space-saving

Product Clear Need Market Fit ▪ Drop-in solution Level of Familiarity ▪ Competition is high in industrial Technology Fit gas landscape Deployment System Integration ▪ Regulation is high for military Partnerships required Legend: applications Regulatory Landscape = 4 = 3 = 2 = 1 = 0

Initial Secondary 48 Research research