Low-Cost, High-Durability Fuel Cell Components

Company Overview
Joe Raguso
CEO and President joe@fullcycleenergy.com

Problem/Solution
Overview
Fuel cells are recognized as a fundamental technology capable of shifting dependence on fossil fuels to cleaner alternatives such as hydrogen.

Problem
Fuel cells have not achieved this goal due to high cost and low durability.

Solution
Full Cycle Energy has licensed two technologies that solves these problems Alkaline membrane (HEMFC) enables Platinum-Free fuel cells reducing cost of goods by 98%. Platinum Nanotube (PtNT) catalyst uses 2/3 less platinum and increases durability by 10x.

Result
These innovations enable fuel cells to be a cost effective solutions for Grid-scale energy storage. Fuel cell applications currently utilizing platinum catalyst membranes
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Core Technology
Alkaline Fuel Cell Membrane
PCT Patent filed October 2009 with October 2008 priority date ARPA-E award (one of 37 out of 3,700 applicants) for Platinum-Free fuel cells By switching from an acidic medium to a basic one, hydroxide (OH) exchange membrane fuel cells (HEMFCs) can solve the problems of catalyst cost/ durability while achieving high power and energy density In a basic environment, the cathode oxygen reduction over-potential can be significantly reduced, leading to high fuel cell efficiency and increased durability. The facile cathode kinetics allows non-precious metals to be used as catalysts, reducing the cost of the fuel cell materials by two orders of magnitude. Silver costs $18/ounce vs. Platinum $1,600/ounce. HEMFCs offer fuel flexibility: methanol, ethanol, ethylene glycol
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Core Technology
Platinum Nanotube Catalyst
Patents filed in US, EU, China, India, Korea, Japan with February 2006 priority date

Current catalysts are made of particles of platinum supported on carbon

Low Utilization only 30% of platinum particles are utilized Low Durability the carbon support layer corrodes rapidly

Platinum Nanotubes (PtNT) solves both of these problems

100% platinum utilization - Reduction of platinum cost by 2/3 Tubular shape creates a rigid layer so no carbon support needed Durability increased by 10X

Diagram of PtNT - Nanotube wall thickness is 2-3 atoms

Electron microscope photo of PtNT

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Markets
Grid Scale Energy Storage
Recovery during low demand Storage during grid timing mismatch Smart-Grid power storage

Personal Electronics
Laptop Computers Cell Phones MP3 players Cameras

Stationary Power
Telecom backup Data system backup Residential

Portable Power

Emergency power Camping RVs and boats

Military Systems
Unmanned aerial vehicles Field battery chargers Auxiliary power units Low signature field power Portable robots Night vision equipment Digital communications Intelligence sensors

Vehicles
Busses Forklifts Motorcycles Scooters Wheelchairs Golf Carts Automobiles Trucks

Activities to Date
March 2008 Acquired PtNT exclusive license August 2008 - Scaled up PtNT production October 2008 - Validated PtNT at Los Alamos National Lab Jan July 2009 technical due diligence with potential customers (logos below) who have requested samples of PtNT July 2009 Acquired Alkaline Membrane exclusive license November 2009 Dr. Yan received ARPA-E award for Alkaline Membrane March 2010 Dr. Yan presented HEMFC poster at ARPA-E

PtNT Samples requested after technical due diligence completed by these customers

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Business Plan
Year One Year Two Year Three Year Four Year Five
Alkaline Membrane R&D Alkaline membrane needs additional R&D before it is ready for commercialization. During this time, revenue will be generated by PtNT sales

Grid-Scale Energy Storage Prototype and Test Alkaline Membrane Sales Grid-Scale Energy Storage Roll-out PtNT Sales PtNT has completed R&D and is ready to scale up manufacturing. Customers have been screened and are waiting for samples.
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PtNT Scale Up PtNT Commercial Integration

The Team
Andrew Behar, CEO/Co-Founder
Acquired IP from UC Riverside with partner. Experienced in tech transfer and running technology start-ups.

Yushan Yan, Ph.D. Chief Scientist Co-Founder

Professor and Department Chair, Chemical and Environmental Engineering, UC Riverside; Chemical Engineering PhD Caltech; Inventor HEMFC, winner ARPA-E award, Other inventions currently being commercialized by NanoH2o and Intel.

Richard Lucien, CFO

CFO Remend, The Brenner Group, Boostworks, Centura Software (Nasdaq: CNTR), Berkeley Systems, Spectrum Holobyte (Nasdaq: SBYT) and Nellcor.

Thomas Rambold, Advisory Board

28 years as CTO at Siemens and running start-ups within Siemens. Currently consulting in IT and communications and energy fields. Working with BASF, BMW and Volkswagen.

David Whelan, Ph.D., Advisory Board (Pending)

VP, General Manager & Deputy of Boeing Phantom Works advanced R&D, former Director Tactical Technology Office (TTO) of DARPA where he developed first UAVs CONFIDENTIAL

Investment Opportunity
$2,500,000
Hire key scientific personnel R&D to optimize Alkaline Membrane Key sales/marketing and management hires with domain expertise PtNT manufacturing capabilities Increase staffing to assist customer integration of PtNT into commercial products Optimize economic model for grid-scale energy storage system Design and build grid-scale energy storage prototype with alkaline membrane Hire key business development and marketing personnel

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Conclusion
Full Cycle Energy has innovative fuel cell technology
Low cost and durable fuel cell membranes that are Platinum-Free Low cost and durable high energy density fuel cells that optimize platinum

Full Cycle Energy has product pipeline

PtNT is ready for manufacturing and commercialization Stationary back-up power UAVs Military systems Alkaline Membrane enables Platinum-Free fuel cells Grid-scale energy storage

Full Cycle Energy is at the nexus of next-generation fuel cells

Small capital investment for commercial breakthrough technology

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