INTRODUCTION Click
here for the Company Video
Franklin Fuel Cells
Inc. (FFC) is an early stage company that is commercializing a unique solid
oxide fuel cell (SOFCs) technology that operates directly on current fuels such
as diesel and gasoline and can operate on future fuels such as bio-fuel and
hydrogen. The company is a privately held Delaware corporation founded in November
2001 and capitalized in April 2002. FFC intends to address both the stationary
and mobile markets.
MISSION
Franklin Fuel Cells'
mission is to accelerate fuel cell commercialization by developing and producing
a unique solid oxide fuel cell technology which is capable of operating directly
on today's hydrocarbon fuels.
GOAL
The goal of the
company is to build high value by becoming the supplier of this unique technology
to the fuel cell industry. Currently the company is focused on a technology
development program scheduled for completion by year-end, 2006. FFC will be
collaborating with fuel cell developers throughout this development period to
better understand the market needs and define the product specifications. Beginning
in January 2007, FFC will begin providing its patented fuel cells to stack and
system developers.
VALUE PROPOSITION
By the year 2000
the electricity industry in the United States alone was a $210 billion a year
business. At the residential level, $93 billion was consumed, while demand for
the commercial and industrial sectors reached $117 billion. As the world population
continues to increase, the demand for electricity will continue to escalate.
Logic dictates
that the demand for more power would create a need to build additional generating
facilities. However, utility companies are finding it more difficult to do so
because of increasing construction costs and the need to comply with more stringent
environmental regulations. Also, the transmission infra-structure, (the electron
highway responsible for delivering power from the point of generation to the
end-user) in the U.S. has become very antiquated. At an approximate cost of
$1 million/mile to build, utility companies are reluctant to up-date an already
over-burdened system.
In addition to
stationary power, mobile markets, as in the transportation industry, are faced
with similar problems; specifically, how to deliver enough power to meet demand.
For example, vehicles have an increasing number of electrically powered systems
designed for operation and passenger comfort. Automotive electrical power demand
alone has quadrupled over the past five years and auxiliary power units (APUs)
will be the likely appliance to satisfy existing and future demand.
As the demand for
power continues to grow throughout the world there is a growing need to develop
additional ways of producing and delivering this commodity to consumers. Hydrogen
fuel cells appear to be the chosen alternative to solving many of these problems
however, this technology faces many challenges.
PROBLEM
Fuel cell advocates
promise the world cleaner, more efficient and more reliable power, but widespread
adoption of existing fuel cell technologies depend on the establishment of a
"hydrogen economy." Without the infrastructure to support hydrogen
distribution and storage, current fuel cell systems are too inefficient, too
large and too expensive for most applications.
SOLUTION
Franklin Fuel Cell
technology, acquired from the University of Pennsylvania through an exclusive
licensing agreement, overcomes most of these issues. This technology is designed
to:
1.) Accelerate
the rate of fuel cell commercialization by using conventional fuels and the
existing energy infrastructure (such as gasoline, diesel, kerosene, etc).
2.) Achieve efficiencies up to 56% higher than standard SOFCs and as much as
200% higher than internal combustion engines, thus enabling cheaper, smaller
and more efficient power generating systems.
3.) Be competitive now with conventional modular power generating systems in
terms of manufacturing cost.
4.) Provide a product that can be fuel flexible to facilitate the transition
to the hydrogen economy.
Simply put, Franklin
Fuel Cells' technology can produce:
ENERGY
FROM THE FUELS OF TODAY AND THE FUELS OF TOMORROW!
