Elcogen: strong business case
1.The world faces challenges to produce electricity and heat by cleaner, more efficient and more reliable means that current methods.
2.Elcogen is a world innovation leader in SOFC technology – considered to be one of the most promising alternative energy production technologies today.
3.Elcogen’s business model is to become an SOFC Industry platform for global power generation system manufacturers.
4.Elcogen is about to enter mass manufacturing stage where the benefits of low temperature technology will be commercialized.
Challenges in electricity and heat production
The world faces challenges to produce electricity and heat via clean, efficient and reliable means compared to the predominant methods of today. Current energy production needs to be changed in order to reduce greenhouse gases emissions considerably, lower air pollution levels and combat global warming.
Fuel cells provide a range of critical benefits that no other single power generating technology can match in tackling these challenges. Fuel cells offer a clean technology to generate virtually emission free electricity at very high efficiencies. Fuel cell technology is therefore considered to be one of the most promising alternative energy production technologies.
Fuel cells can produce power anywhere, including vehicles, portable devices, and stationary power plants – without being limited to one fuel source. Furthermore, fuel cells can be used to store energy in the form of hydrogen (though this is currently only feasible for large scale wind and solar storage).
Elcogen’s business model is based on producing cost effective, highly efficient and robust fuel cells and fuel cell stacks at high volumes, which will be deployed by global brand leaders in their own power generation systems.
We see that, thanks to our innovative technology, our unit cells and stacks could set new price and efficiency standards on the market and therefore become a platform for the next generation of power production.
A leader in SOFC technology
Elcogen stacks offer a primary energy conversion efficiency to electricity of over 70% – setting a global record for energy conversion.
Elcogen has developed a unique portfolio of SOFC technology that operates at 650°C rather than the 750–900°C for SOFC designs by competitors. The lower operating temperature results in two key advantages: it allows for lower-cost materials to be used and for a more cost efficient stack and CHP system design.
Elcogen stacks use 50 per cent less fuel than conventional distributed power generation technologies (such as micro-gas turbines and diesel engines). They also emit 50 per cent less CO2 and near-zero NOx, SOx or VOC. Its technology therefore helps reduce natural gas consumption – and the associated greenhouse emissions – as well as reducing air pollutants.