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AFC Energy signs two deals for stationary systems in Korea
NEWS systems for rural areas in India and other developing countries [FCB, May 2014, p10]. FuelCell Energy Solutions GmbH, Dresden, Germany. Tel: +49 351 2553 7390, www.fces.de/?lang=en FuelCell Energy: www.fuelcellenergy.com Fraunhofer Institute for Ceramic Technologies and Systems IKTS, Energy Systems Research, Dresden, Germany. Tel: +49 351 2553 7232, http://tinyurl.com/energy-systems-ikts
AFC Energy signs two deals for stationary systems in Korea
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K-based AFC Energy has entered into a Heads of Agreement with Daniel Inc, a fuel cell focused power plant owner and development company in South Korea, for an initial 1 MW alkaline fuel cell system, with a follow-on option for a further 3 MW project. AFC has also signed a Memorandum of Understanding with Chang Shin Chemical Co Ltd, a leading Korean hydrogen supplier, for multiple fuel cell systems with a total potential generating capacity of up to 5 MW. The deal with Daniel Inc is expected to be worth US$3.75 million initially, increasing up to $15 million on satisfactory completion of the first phase. The initial 1 MW system will be deployed in stages, and the deal includes a longterm maintenance agreement. A $1.25 million deposit will become payable to AFC Energy on signing of the formal contract and supply agreement, before deployment of the system commences. The formal contract will also include the opportunity for a follow-on order for a 3 MW system at a second site, depending on performance. The project has been facilitated with the assistance of investment bank KDB Daewoo Securities, which will continue to support AFC in a referral function for other client companies. The first system will use a mix of liquefied natural gas (LNG) and biomass gas as its primary energy source to generate electricity. AFC Energy will install, operate, and maintain its low-cost fuel cell systems at Daniel’s site. The project will benefit from Korea’s clean energy incentive programme, which is focused on the deployment of fuel cells by large electricity producers and users. The Korean market is already being exploited by US molten carbonate fuel cell manufacturer FuelCell Energy with its local partner POSCO Energy [FCB, June 2014, p8], and Canadianbased Hydrogenics is creating a joint venture
August 2014
with Kolon Water & Energy to develop the Korean and Asian markets for MW and multiMW installations of its PEM fuel cell products [FCB, July 2014, p7]. The Daniel deal follows an MOU with gases company Chang Shin Chemical to supply multiple fuel cell systems with a total generating capacity up to 5 MW, using hydrogen produced at Chang Shin’s chemical works to generate clean electricity for the Korean grid. AFC and Chang Shin aim to finalise a definitive contract within six months. This deal will be structured as an energy supply contract, under which AFC will install and operate systems at Chang Shin sites in return for long-term fees. The agreement will be implemented in stages, starting with a pilot KORE fuel cell unit at a Chang Shin gas processing facility. The intention is for this unit to be scaled up to systems with an envisaged capacity between 1 and 5 MW. Chang Shin estimates it has total available hydrogen for power generation significantly in excess of 5 MW. AFC recently received the first order for its Beta+ fuel cell test system from PowerHouse Energy Group in the UK [FCB, May 2014, p4], and is already working in Germany with AkzoNobel at Bitterfeld [FCB, January 2012, p4], and with Air Products to prepare for the Power Up project in Stade [FCB, November 2013, p6]. AFC Energy, Cranleigh, Surrey, UK. Tel: +44 1483 276726, www.afcenergy.com
Bloom, Exelon partner to finance 21 MW of commercial projects
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n the US, energy provider Exelon Corporation is providing equity financing for 21 MW of Bloom Energy solid oxide fuel cell projects at 75 commercial facilities in California, Connecticut, New Jersey, and New York. The power buyers include new and repeat blue-chip customers, such as AT&T, which will use the fuel cells to power operations at nine sites [FCB, November 2012, p6]. The first step in this anticipated long-term strategic partnership will see Exelon finance Bloom Energy projects through Bloom Electrons™, a service that allows customers to buy power as a service, rather than purchasing the equipment directly [FCB, February 2011, p7]. This is the first investment by an energy company in Bloom Electrons, and it will support the programme’s largest commercial deployment to date.
IN BRIEF Ceres raises £20m to push IT-SOFC tech UK-based Ceres Power (www.cerespower. com), a leading developer of intermediatetemperature solid oxide fuel cell technology for distributed generation and other applications, has raised £19.6 million (US$32.6 million, net of expenses) through a placing in the AIM part of the London Stock Exchange. One of the key investors is IP Group, an intellectual property business that invests in technology companies. IP Group has subscribed to an additional 47 million shares (representing £4 million, $6.7 million), increasing its total stake to 23.2%. The fund-raising should provide sufficient working capital for Ceres to respond to the commercial interest it has generated until the next-stage commercial agreements are in place, and to progress its Steel Cell technology and manufacturing roadmaps. The company will also explore and capture more value in higher power applications [FCB, April 2014, p10], and should have the flexibility to increase manufacturing volumes driven by commercial engagements. Ceres recently signed an evaluation agreement to cover further 1 kW testing at an OEM partner’s site in Japan, with Steel Cell trials already running with another Japanese OEM [FCB, March 2014, p4]. JX Nippon Oil plans 100 stations in Japan In Japan, JX Nippon Oil & Energy (www. noe.jx-group.co.jp/english) plans to set up 100 hydrogen refueling stations by fiscal 2018, in an effort to develop the infrastructure needed for the adoption of fuel cell electric vehicles, according to the Nikkei Asian Review. The company currently has five hydrogen stations, and had planned to increase this to 15 by the end of fiscal 2014; it has now raised the target to 19 in the same time frame. It seeks to set up 40 stations by fiscal 2015, and reach 100 by 2017 or 2018. JX Nippon Oil will soon form a dedicated subsidiary to handle procurement and station operations; the plan is to offer hydrogen at existing gasoline stations as well as dedicated facilities [and see page 7]. The Japanese government wants 100 hydrogen stations set up by fiscal 2015, but so far there are definitive plans in place only for 41 locations. To lower the financial burden of building hydrogen stations, which each cost about ¥460 million (US$4.5 million), the government provides up to ¥280 million ($2.7 million) in subsidies. An R&D centre in Amagasaki operated by industrial gas producer Iwatani recently opened the country’s first commercial hydrogen fueling station, in partnership with Linde [FCB, July 2014, p1].
Fuel Cells Bulletin
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AFC Energy signs two deals for stationary systems in Korea
U
K-based AFC Energy has entered into a Heads of Agreement with Daniel Inc, a fuel cell focused power plant owner and development company in South Korea, for an initial 1 MW alkaline fuel cell system, with a follow-on option for a further 3 MW project. AFC has also signed a Memorandum of Understanding with Chang Shin Chemical Co Ltd, a leading Korean hydrogen supplier, for multiple fuel cell systems with a total potential generating capacity of up to 5 MW. The deal with Daniel Inc is expected to be worth US$3.75 million initially, increasing up to $15 million on satisfactory completion of the first phase. The initial 1 MW system will be deployed in stages, and the deal includes a longterm maintenance agreement. A $1.25 million deposit will become payable to AFC Energy on signing of the formal contract and supply agreement, before deployment of the system commences. The formal contract will also include the opportunity for a follow-on order for a 3 MW system at a second site, depending on performance. The project has been facilitated with the assistance of investment bank KDB Daewoo Securities, which will continue to support AFC in a referral function for other client companies. The first system will use a mix of liquefied natural gas (LNG) and biomass gas as its primary energy source to generate electricity. AFC Energy will install, operate, and maintain its low-cost fuel cell systems at Daniel’s site. The project will benefit from Korea’s clean energy incentive programme, which is focused on the deployment of fuel cells by large electricity producers and users. The Korean market is already being exploited by US molten carbonate fuel cell manufacturer FuelCell Energy with its local partner POSCO Energy [FCB, June 2014, p8], and Canadianbased Hydrogenics is creating a joint venture
August 2014
with Kolon Water & Energy to develop the Korean and Asian markets for MW and multiMW installations of its PEM fuel cell products [FCB, July 2014, p7]. The Daniel deal follows an MOU with gases company Chang Shin Chemical to supply multiple fuel cell systems with a total generating capacity up to 5 MW, using hydrogen produced at Chang Shin’s chemical works to generate clean electricity for the Korean grid. AFC and Chang Shin aim to finalise a definitive contract within six months. This deal will be structured as an energy supply contract, under which AFC will install and operate systems at Chang Shin sites in return for long-term fees. The agreement will be implemented in stages, starting with a pilot KORE fuel cell unit at a Chang Shin gas processing facility. The intention is for this unit to be scaled up to systems with an envisaged capacity between 1 and 5 MW. Chang Shin estimates it has total available hydrogen for power generation significantly in excess of 5 MW. AFC recently received the first order for its Beta+ fuel cell test system from PowerHouse Energy Group in the UK [FCB, May 2014, p4], and is already working in Germany with AkzoNobel at Bitterfeld [FCB, January 2012, p4], and with Air Products to prepare for the Power Up project in Stade [FCB, November 2013, p6]. AFC Energy, Cranleigh, Surrey, UK. Tel: +44 1483 276726, www.afcenergy.com
Bloom, Exelon partner to finance 21 MW of commercial projects
I
n the US, energy provider Exelon Corporation is providing equity financing for 21 MW of Bloom Energy solid oxide fuel cell projects at 75 commercial facilities in California, Connecticut, New Jersey, and New York. The power buyers include new and repeat blue-chip customers, such as AT&T, which will use the fuel cells to power operations at nine sites [FCB, November 2012, p6]. The first step in this anticipated long-term strategic partnership will see Exelon finance Bloom Energy projects through Bloom Electrons™, a service that allows customers to buy power as a service, rather than purchasing the equipment directly [FCB, February 2011, p7]. This is the first investment by an energy company in Bloom Electrons, and it will support the programme’s largest commercial deployment to date.
IN BRIEF Ceres raises £20m to push IT-SOFC tech UK-based Ceres Power (www.cerespower. com), a leading developer of intermediatetemperature solid oxide fuel cell technology for distributed generation and other applications, has raised £19.6 million (US$32.6 million, net of expenses) through a placing in the AIM part of the London Stock Exchange. One of the key investors is IP Group, an intellectual property business that invests in technology companies. IP Group has subscribed to an additional 47 million shares (representing £4 million, $6.7 million), increasing its total stake to 23.2%. The fund-raising should provide sufficient working capital for Ceres to respond to the commercial interest it has generated until the next-stage commercial agreements are in place, and to progress its Steel Cell technology and manufacturing roadmaps. The company will also explore and capture more value in higher power applications [FCB, April 2014, p10], and should have the flexibility to increase manufacturing volumes driven by commercial engagements. Ceres recently signed an evaluation agreement to cover further 1 kW testing at an OEM partner’s site in Japan, with Steel Cell trials already running with another Japanese OEM [FCB, March 2014, p4]. JX Nippon Oil plans 100 stations in Japan In Japan, JX Nippon Oil & Energy (www. noe.jx-group.co.jp/english) plans to set up 100 hydrogen refueling stations by fiscal 2018, in an effort to develop the infrastructure needed for the adoption of fuel cell electric vehicles, according to the Nikkei Asian Review. The company currently has five hydrogen stations, and had planned to increase this to 15 by the end of fiscal 2014; it has now raised the target to 19 in the same time frame. It seeks to set up 40 stations by fiscal 2015, and reach 100 by 2017 or 2018. JX Nippon Oil will soon form a dedicated subsidiary to handle procurement and station operations; the plan is to offer hydrogen at existing gasoline stations as well as dedicated facilities [and see page 7]. The Japanese government wants 100 hydrogen stations set up by fiscal 2015, but so far there are definitive plans in place only for 41 locations. To lower the financial burden of building hydrogen stations, which each cost about ¥460 million (US$4.5 million), the government provides up to ¥280 million ($2.7 million) in subsidies. An R&D centre in Amagasaki operated by industrial gas producer Iwatani recently opened the country’s first commercial hydrogen fueling station, in partnership with Linde [FCB, July 2014, p1].
Fuel Cells Bulletin
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