cella energy - making it happen: from r&d to products ... · from r&d to products based on...
TRANSCRIPT
Cella Energy - Making it happen: from R&D to products based on solid state hydrogen
Dr Chris Hobbs
November 2017
• What is the opportunity
• The technology
• “Getting across the line”
Agenda
© Cella Energy Limited 2017
FINANCIAL OVERVIEW
• Initial commercial revenue
forecasted in 2018
• Break-even and profit in 2019
• Working capital requirement
£2.5 million
TECHNOLOGY
• Unique, proprietary
and patented
• Ammonia Borane
based material
• Safe, solid, stable, clean
• Fast release at 100 C
• 1 gram = 1 litre of hydrogen
gas
• 3-5X energy of batteries
.
MARKETS
• UAV/Portable Power
• Aerospace and space
• Transportation
• Military
• Battery replacement
• Radiation shielding
CURRENT DEVELOPMENT
• Commercial rotary UAV with 5 kg
payload flight time extended to
1 hr vs. 10 minutes using batteries
• Military fixed wing UAV flight time
extended to 10 hours vs. 2 hours
when using batteries
• Various medium and high energy
systems including on-board
aircraft electrical power
COMPANY BACKGROUND
• Founded 2011
• HQ in Harwell/Rutherford
Appleton Lab complex in UK
• $12 million USD invested
• Winner Shell Springboard and
ICIS Awards
PATENTS
• 2 Granted
• 16 Pending
• Filed multiple jurisdictions
CONTACT
[email protected] (CEO)
[email protected] (MD)
CELLA ENERGY LTD
www.cellaenergy.com
Worldwide reach & interest
NORTH AMERICA
PatentsInterest: California/Ontario/others
SOUTH AMERICA
No patents.No specific interest.
EUROPA
PatentsInterest: France/Belgium/Spain/India.
ASIA
Patents.Interest: Japan/China/Singapore/Thailand
AFRICA
No patents.No specific interest.
AUSTRALIA
Patents.Interest: Yes
© Cella Energy Limited 2017
• Provide an alternative power source to Lithium-ion battery (& similar) solutions with significantly longer duration (up to 3-5 times more) for the same weight & volume
• Do this for similar unit costs in the UAV, man-portable, commercial, aerospace and transport sectors at competitive prices for a premium product
What the business does
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• By delivering four key power-products:
– “Low Power Portable System” > UAVs Fixed Wing, Man portable, ...
– “High Power Portable System” > UAVs (Rotary), …
– “Transportable Power System” > Back-up power
– “High Power Transport” > APUs, cars/planes
How the business makes money
© Cella Energy Limited 2017
• Allow a UAV to fly for 3-5 times longer/further than it currently does
• Allow the dismounted soldier to carry less weight in theatre or extend current operational limits by several days
• Provide non-grid, on-demand back-up power in remote locations at low cost and with no environmental impact compared to diesel generators
• Provide emission-free, cost-competitive powering in the aerospace and transport sectors, from on-board services to ultimately the vehicles themselves.
Impact of our product(s)
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Electrical generation - CELLAGEN™
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Internal structure of gas generator
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Pressure cycling…
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• Demonstrator at Safran in Paris since 2015: over 500 Cella cartridges (50kg) delivered to them
• Demonstrator flight of UAV – January 2016:first flight on Cella hydrogen
• Demonstration to IAI – April 2017: 10-hr flight profile successfullydemonstrated without issues
Business achievements to date
© Cella Energy Limited 2017
Current (final) investment round
Product Line To do what…?
Fixed Wing UAV • Raise to TRL9 & MRL9• Underwrite Regulatory Compliance• Maintain & Enhance IP Portfolio• Strategic Demonstrations• Marketing and Sales Staffing
Rotary Wing UAV
Aerospace & Transport
Scale-up through strategically selected supply-chain partners through licencing &/or JVs
© Cella Energy Limited 2017
Market CAGR (current)
UAV 22% (Teal)
Dismounted Soldier 11% (Research & Markets)
Commercial 10% (Global Insights)
Aerospace (Power) 14%(Markets & Markets)
Market growth projections
AUVSI: $82.1 billion opportunity for
UAV market 2015 - 2025.
Teal Group: Worldwide
UAV Market @ $91 Billion
Market Accessible to Cella
UAV £50M by 2020
Dismounted Soldier £20M by 2020
Commercial $41Bn by 2025
Aerospace $1.2Bn by 2033
‘Follower’ market to UAV
‘Follower’ market to UAV
© Cella Energy Limited 2017
Technical
• Logistics of offering– Engaged with potential suppliers
and facilitators
• Scale up– Route to factor 5 upgrade
already in place with key supplier
• Hydrogen gas purity– Clear technical programme
already providing good solutions
Commercial
• Scale-up– Clear strategy already socialised
to JV and licence where possible
• Focus– No over-promising, care in timing
– No market disappointment and clear communications and sales strategy
• Personnel– All incentivised by share options
Risks and mitigations
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Timing to Return on Investment
Ultimate vision – providing power to aircraft and road vehicles and surface water vehicles
by 2025 and beyond
Product Line(first products)
First sales Break even
Notes
Fixed Wing UAV(Low Portable Power)
Qtr 4 2018 July 2019 Awaiting SME grant reducing potential company-funding outlay required.
Rotary Wing UAV (High Portable Power)
Qtr 4 2018 Sept 2019 Underwritten by current Innovate UK grant-funded project – very low risk to outcome.
Dismounted Soldier (Low Portable Power)
Qtr 1 2019 Nov 2019 Follower market using Fixed Wing UAV system with only small, simple-to-implement small (if any) amendments to that design.
© Cella Energy Limited 2017
SummaryPortable power systems
Unmanned Aerial Systems and robotics
Military portable power Commercial portable power
Transportable power systems
Aerospace - Cabin Power Electric Vehicle range extenders or emissions abatement
Emergency and backup power
Aerospace Materials handling equipment
16
Large scale/high energy power systems
© Cella Energy Limited 2017