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Investor Presentation

Response to 2021 Reviewers' Comments . • • • • Numerous comments on a weakness being a lack of onsite water and the drawbacks of trucking in deionized water. Agreements have been secured for water rights in a reservoir several miles away, and design of the pipeline upgrades and campus water treatment facility is nearing completion. The electrolyzer already has a deionization system installed to make use of this future water source. Operability of this water supply is several years out, but the hydrogen system demands are being factored into the future campus needs. The external collaboration is weak. Only Nel Hydrogen is listed as a collaborator. The future plans need to include more details for such a big project. - This project is an infrastructure installation project and doesn't include research itself, but rather supports future research. There are numerous funded projects that will use this infrastructure once it is commissioned, and many more projects with additional partners are currently under negotiation. There are limitations for longer-term hydrogen production (projects) due to hydrogen storage system size. - There are projects and plans in the works, both funded and not funded yet, to expand to >1,500 kg storage capacity onsite. Additional space is available to expand further as needed for research. It would be great if solar or wind could be integrated in the system so the intermittency of renewable energy could be studied. Both solar and wind are being directly integrated and several future research projects currently planned will study the intermittency of renewable energy for hydrogen production. The end use of the hydrogen was a bit unclear. It is unclear whether it can be sold or used for other downstream applications. The current end use for the hydrogen is the 1 MW fuel cell for research and power export. NREL cannot sell hydrogen on the market. There are several additional end uses being planned for the hydrogen. NREL 17
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