NEXT GENERATION FUEL CELL TECHNOLOGY
Fuel Cell
Market Opportunity
Advent revenue expected to be
~$100m per GW
Fuel cells & hydrogen production can be a $50 billion market by
2030 driven by well-established global policy support
OFF-GRID, CHP
STATIONARY
PASSENGER,
COMMERCIAL EV
TYPICAL SIZE
OF ONE UNIT
1-5kW
15-30kW
00
00
Customer's Power
Requirements
1 GW
Advent Target Cost per kW
(2025)
$80/kW
EVTOL, COMMERCIAL
DRONE, PORTABLE
REMOTE POWER
Ο
HEAVY-DUTY TRUCK
MUNICIPAL BUS
1-30kW
MEA Sales Revenue
100kW+
Licensing Fees(2)
$80M
$16M
MARKET SIZE
2040
250-520GW
120-680GW
-20GW(1)
40-100GW
Total Revenue to Advent
$96M
Per GW
Sources: Global Data, Bloomberg New Energy Finance. (1) Management Estimates. (2) Assumes licensing fees are equal to 5% of customer's fuel cell sales and 30% of MEA cost.
www.advent.energy
ADVENT
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