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Making Value in and from the Fuel Cell Market

William A. Whittenberger, President & CTOCatacel Corp., Ravenna, Ohio

June 2014

» 2001: Coating expertise in search of application» Early OFCC creating Fuel Cell buzz

– Catacel: “Hey, what are these fuel cells anyway?”» Technical: internal trials of reforming catalysts

on foil structures» Outreach: website content generated first

serious inquiries» Catacel commitment to the fuel cell space

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Building a Business from Fuel Cells

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Where it

all started

2002

4Original Workshop12,500 sq ft

New Building

21,000++ sq ft

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2010 2011 2012 2013 2014

5 Year Revenue Trend

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2004 2006 2008 2010 2012 20140

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10 Year Employee Trend

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Growth in Fuel Cell Customers

• In 2009, Catacel sold catalysts to two fuel cell companies, plus a half-dozen university or pre-commercial accounts

• Now, Catacel is shipping products to about 10 fuel cell companies, and is further involved in next-generation designs with 3 of them

• Strategy: “Catacel Inside”

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Catacel Customers 2009

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Catacel Customers 2014

Structured Catalyst Applications

» Fuel Reforming to Syngas (~70% H2)• NG, NG/propane, NG/butane, methanol

» Combustion• City gas, biogas, tailgas

» Partial Oxidation• For start-up or hydrogen generation

» Water-Gas Shift» Preferential Oxidation

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Formed and Coated Foils

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DiversificationCompact reformers and reactors from 2kW to 50 kW

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Lightweight, compact heat exchangers for applications including fuel cell and micro-turbine

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Structured catalyst and sorbent systems for industrial gas and oilfield applications

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Emerging, ultra-compact industrial reformers

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=

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Manufacturing Excellence

Intellectual Property Challenges» Hugely expensive to file across necessary

global markets -- $40K for North America and EU alone for single patent filing

» Have embedded a disciplined culture of maintaining logs and notebooks to record ideas and discoveries

» Large customers getting aggressive on IP control and constraint

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Go-to-Market Strategies

» Direct sales» Conferences

and exhibitions» Content

marketing – articles, blogs and papers pushed through website

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What’s Next?

» New, major entrants eyeing stationary APU spaces; some fascinating concepts

» Compact, highly efficient H2 generators for industrial motive and automotive fueling

» Break-through technologies on deck for producing large volume hydrogen at order of magnitude lower cost and energy consumption

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Our Fuel Cell Industry Forecast

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Be There!!

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A special thanks to all that helped Catacel along the way

Dick Cornelison Bill Retallick Ray Harner

Alstom Power The Ohio Fuel Cell CoalitionOhio Third Frontier EMTECNASA Glenn JumpStart NorTech

Venkat VenkatamaranVlad Kalika Dennis Norton Gene Allen Peter Williams John Armour Pat Valente Mike Martin Lee Poseidon Mike McKay Dave Nestic Dave Salay Martin Abraham The Catacel Team &

their supporting families