INTRODUCTION

THE STRIVE THE DEPLOYMENT OF THE GROUP'S TECHNOLOGY ACROSS VARIOUS TARGETED APPLICATIONS AREAS, PRESENTLY WE SEE THREE KEY FUTURE STRATEGIC GROUPS:

POWER GENERATION, MOBILITY AND INDUSTRIAL.

Hydrogen is expected to become one of the leading options for storing renewable energy but can also be used as fuel in direct-fired applications. One of TIB-TEC’s initial primary business development focuses will target stationary power plants. Immediate targets are also among the numerous smaller power generator sets, installed as emergency supply or as stand-alone power generators. TIB-TEC sees opportunities to bring the Group's Technology to market and potentially equipping larger power generator units with the Group's Technology. In transport, hydrogen is largely used in fuel cells to generate electricity for powering cars. TIB-TEC views one of its initial target markets to be in the heavier combustion engine setups, e.g. trucks, busses, rail and marine applications. TIB-TEC’s key considerations are the amount of thermal heat present, more space (compared to for example automotive) as well as direct line of sight to business value.

In the industry sector, hydrogen is still mostly produced by using fossil fuels, so there is significant potential for emission reduction by using green hydrogen. TIB-TEC’s target business development will be the processes where high levels of heat are generated such as cement and steel plants.

We see the potential application of the Group's Technology in the area of power generation as a good opportunity to convince the world of our ability to accelerate the energy transition.

Our planned tiered deployment plan ensures build-up of credibility, not losing focus, targeting the highest value delivery application areas first and expanding our footprint from there – see figure below. Of course, we will review the priorities in depth at least annually and be flexible to re-focus as the business environment demands.

Potential Application Areas of the Group's Technology

We have identified the following potential application areas of the Group’s Technology, in which the Company expects to enable its future licensees to operate in:

Application Area Strategic Group

Illustration 2 – Future Application Areas

Whereas the above overview shows future potential application sectors, it should be noted that so far in the pre-development phase the design focus has been directed on the use of the TIB-Device and the Group’s Technology in combination with an internal combustion engine (fossil-fueled or hydrogen-fueled), i.e. the power generation and the mobility application market. Considering the existing number of (engine) manufacturers and the thousands of engines that are in operation, this market promises to be readily accessible as well as attractive from a commercial point of view.

Other solutions, e.g., for the process industries, are considered to be promising as well. According to various recent publications it is known that both owners and operators of such plants as are also already working on innovations aiming to improve such processes, which confirms that such “heavy industries” are willing and able to invest in low-emission (hydrogen) solutions.

In its roadmap “NetZero by 2050”, the IEA concluded that the investment volume would need the annual investment volume necessary for the expansion of the global electrolysis capacity with 250GW between 2021 and 2030 an annual amount of USD 4 billion (2021) to increase 21x to USD 84 billion (2030).

These amounts, pledged on real projects, include the investments in industrial projects.

Future Licensing Model

Based on expert market analysis as well as several expressions of interest from potential clients and/or partner companies, the Board of Directors of TIB-TEC concluded that the establishment of own production and sales facilities would require too much capital, with the time required potentially becoming another risk factor due to regulators reducing or even closing down the production and acceptance of combustion engines.

 

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