AFC Energy : Capital Markets Day 8th May 2024

Displacing Diesel

AFC Energy Capital Markets Day

8th May 2024

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Welcome - Gary Bullard (Chair)

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Strategic Overview - Adam Bond (CEO)

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Agenda

Welcome

Strategic Overview

H-Power Generator Scaling Up

Organisational Readiness to Scale

Ammonia Cracking: The Billion £ Opportunity Bringing the Cracker to Market

Outlook

Questions ?

Gary Bullard (Chair)

Adam Bond (CEO)

Dan Evans (CEO - Speedy Hire)

Rami Elayan (CEO - TAMGO)

Dr. David Harvey (CTO - Fuel Cells)

Benedikt Eska (CEO - Axiosus)

Jeff Plato (President - Illuming Power)

Peter Dixon-Clarke (CFO)

Adam Bond (CEO)

Dr. Mike Rendall (CTO - Fuel Conversion)

Darren Sharpe - ICL

Steven Swaby - ICL

Adam Bond (CEO)

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Greenhouse Emissions Continue to Rise …

Data source: Global Carbon Budget (2023)

CO₂ emissions - Our World in Data

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UK Sectors Most Impacted by Diesel

Source: https://assets.publishing.service.gov.uk/media/63ef4143d3bf7f62ef2b17e8/red-diesel-replacement-phase-2-competition-webinar-20230125.pdf

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Central London (Barbican) Case Study: April 2024

Assuming:

• 1Megawatt diesel generator operates 10 hrs per day
• 5 days per week / 52 weeks a year
• 50% load
• 0.79 Metric Tonnes of CO2 per Megawatt Hour *

1,027 tonnes of CO2 per annum

Not taking into account NOx, particulate matter, noise and smell

* Source: https://www.feace.com/single-post/the-carbon-footprint-of-diesel-generators

1MW Diesel Generator Operating Outside the Barbican in April 2024

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Central London (Barbican) Case Study: April 2024

Putting 1,027 tonnes of CO2 per annum into context:

"At atmospheric pressure, 1 tonne of CO2 has the same volume as about a hot air balloon"

Speech: "UK Opportunities in Carbon Capture: Spectator Energy Summit" Energy Security Secretary Grant

Shapps: Published 26 April 2023

https://www.gov.uk/government/speeches/uk-opportunities-in-carbon-capture-spectator-energy-summit

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Central London (Barbican) Case Study: April 2024

Fast Forward 2 Weeks …

Site operator placed explanation of fuel choice on site of generator … however, HVO isn't without its challenges as a transitionary fuel …

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