High performance
Solid Oxide Fuel Cells
Ecosummit Berlin
May 19.-20. 2015
Enn Õunpuu
CEO
Company
Concentrating on solid oxide fuel cell
(SOFC) technology
Elcogen AS was founded in 2001 to
Estonia as unit cell manufacturing
company
Elcogen Oy was founded in 2009 to
Finland as stack manufacturing company
Key figures
Personnel: 18 people
Equity invested: 6,4 MEUR
Grants received: 4 MEUR
Number of customers: 30+
350 men years of R&D
Production
New production facilities for Elcogen
unit cells was opened in July 2014 in
Tallinn, Estonia
First stage ramp-up capability 10 MW
annual unit cell production
Elcogen stack production line under
validation in Vantaa (Helsinki area),
Finland
Pilot production line enables
1 MW annual stack production
SOFC
Fuel cell is an
electrochemical energy
conversion device using
hydrogen or hydrocarbon
fuels as fuel and producing
electricity
Heat is a by-product of the
process
Solid oxide fuel cell (SOFC)
provide highest electrical
efficiency (>60%)
SOFC stack
The heart of the fuel cell system is the stack, which consists
of single unit cells
Stack covers about 40 % of the system costs
Cells cover about 40 % of the stack costs
Highest efficiency
70
SOFC/GT
SOFC
60
cc
electrical efficiency [%]
power plants
40
PEMFC
gas engines
gas turbines
20
power only
distributed
CHP
0
1 kW
10 kW
100 kW
1 MW
electrical output
10 MW
100 MW
1 GW
Applications
Residential µCHP in a power
range of 1-5 kWe, standalone
or boiler integrated
Industrial premium power
and CHP in a power range of
20 kW to some MW
APU units for transportation
in a power range of 1-5kWe
High temperature electrolysis
for wind and solar energy
storage and power to gas/
liquids solutions
Industry challenge
25 000 €
900
800
700
600
500
400
300
0
5000
10000
15000
20000
Our solution
800º – 900º C
650ºC
Our advantage
Higher performance
and low degradation
Low unit cell material
and manufacturing
cost
Low cost stack
components
Simpler and cheaper
solutions in system
level
Our advantage
Total cost
reduction = 76 %
SOFC system cost reduction at reduced operating
temperature
Only from stack interconnects, heat exchanger and thermal
insulation
Market prospects
15B €
12B €
∑ 15B €
3B €
2014 2015 2016 2017 2018 2019 2020
2014 2015 2016 2017 2018 2019 2020
2014 2015 2016 2017 2018 2019 2020
Key players
1
4
Cells
Stacks
Systems
Versa Power
Kyocera
SOLID Power
Ceramtec
Versa Power
Kyocera
SOLID Power
Sunfire
Ceramic FCL
Plansee
Elcogen AS
Elcogen Oy
Ceramic FCL
SOLID Power
Bosch
Vaillant
Baxi Innotech
Convion
Dantherm
Bloom Energy
AVL
SK Innovations
LG Fuel Cell
Tokyo Gas
ENEOS
GE
Doosan
…
Thank you for your attention!
www.elcogen.com
Unique investment opportunity
Elcogen is one of the few successful players in the
SOFC fuel cell market
Fuel cell market is in early phase and Elcogen has
an excellent position in the growing ecosystem
Several customers is an evidence that Elcogen’s
technology is competitive
Elcogen’s solutions are industrially scalable, which
is the key issue in a long term
Elcogen can make high operating margins and net
profit due to lean processes and low fixed costs