![]() What would you say the current state of the hydrogen fuel market is at the moment, and what is its state of development? We interconnect lots of the Hevos, the micro electrolysers, in a string and that's how we get to whatever the scale that is necessary, for the particular customer context. One of the structural components of our electrolyser is injection moulded plastic that's kind of sandwiched between metal plates. It gives us a lot more leeway to use inexpensive material. So we operate at four bar compared to 30 to 40 bar for most systems out there. In the case of the HEVO, each one produces relatively little hydrogen individually, and it’s a low-pressure system. It's still a manual process, in part, because the tolerances are really so tight when you're producing really huge volumes of hydrogen and oxygen at high pressure, you need a really robust box, and you need a robust system overall. I would say, despite what we are being told from some of the larger players in this space, I think electrolyser production of these stacks is still relatively manual. Our micro-electrolysers are designed for industrialised production using cheaper materials and simpler production processes For our peers where the economies of scale start to kick in for them and where they start to reach a competitive levelised cost of hydrogen’s well north of 10 megawatts of electrolyser capacity.īy contrast, we benefit from economies of scale through mass production. There’s two different ways of benefiting from economies of scale, and that's what everybody is trying to do. We're just getting to it a different way. How does that work? Because whenever I think of electrolysers, I think of these big units attached to wind farms and so on. We not only are selling technology, but we're also selling green hydrogen as well through long term offtake contracts to third party customers. We are also originating and developing Fuel-owned projects in Portugal and Spain, also one in California, here in the US. Our contention is that it's too early in the evolution of the hydrogen economy to know where the excess of risk adjusted returns will be found, whether that's upstream in production or further downstream, so we want to do as much of it as we can. Most folks in this space are mainly technology producers, and they supply technology to third-party customers, but we do both. We also have a project development business that's a little bit unique. We're still competitive, but there’s relatively less advantage in that segment of the market, so we really look to focus on the small to mid-scale segments which we feel is one that in the immediate to mid-term will drive much of the growth in the green hydrogen space for the next few years. Above that the economies of scale for the big centralized systems really start to kick in. We really focus on small to mid-scale projects, sub-10 megawatt is really our sweet spot. There is some trade off there but all in all it gets us a lower capex per kilowatt and a lower levelised cost of hydrogen for those systems that we develop within a certain size range. The other is called the HEVO-Chain, our reimagining, I guess, of a centralised electrolyser, which is really a bunch of our hevos put together in a series, interconnected in a string, which has some interesting benefits. You can drop it in anywhere in the world with strong solar resource as a self-contained, grid-independent system so you don't need a grid connection, you just need water purification and hydrogen compression and storage, and you're good to go. It has a solar tracker, with our electrolyzers integrated on the back of it, and therefore it's kind of a modular system. ![]() It's a fully integrated solution that combines our micro electrolyser with a concentration photovoltaic (CPV) solar system. I'll mention them briefly, and then we can get into them a little bit further. We have a couple of different products, which I can talk about. It’s what we call the hevo, a micro electrolyser and effectively it’s pretty much the size of a lunch box and so our approach is rather than producing these giant stacks, large scale centralised electrolysers based on a large stack, what we have is a lot of these very small electrolysers and we apply a kind of a building block approach to developing projects for customers at whatever scale is required. Ours is a PEM system and ours is a little bit different than others in the market. ![]() We are a developer of a PEM electrolyser, but there are a couple of different types of electrolysers which we can discuss. ![]() Can you tell me more about Fusion Fuel and what it does?įusion Fuel is a green hydrogen Solutions company, and we went public in late 2020 and what we have is something that's rather unique in terms of our technology. ![]()
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