Soxcell Energy provides an innovative fuel cell technology, which promises to give cheap, clean energy on-demand to households and small factories.
Like all fuel cells. Soxcell’s fuel cell is a clean electric generation device which converts hydrogen into electricity, producing only heat and water as its by-products. However, Soxcell’s unique design uses tubular solid-oxide ceramic catalysts. These are cheaper than platinum used in most fuel cells. The tubular shape also eliminates the complex seals used in other fuel cell designs and reduces fuel leakage cost.
Finally, the tubular design is easy to assemble, lowering manufacturing costs. Soxcell expects that it will be able to deliver energy a $2.5 per watt, cheaper than other fuel sources like diesel generators, solar, wind, biofuels. This makes it an ideal energy source for the 200 million people, factories, agricultural operations, and mining sites which do not have access to the power grid in Southeast Asia.
Soxcell Energy’s lead customers currently use diesel generators. Soxcell’s fuel cell is much cheaper to run than a diesel generator and can recover the up-front investment in three years. Soxcell will sell direct, identifying first-movers in Thailand who will particularly benefit from the clean, silent, reliable energy generated by the Soxcell fuel cell. After Thailand, Soxcell will expand to the rest of Southeast Asia, where many people and business operations must operate off-grid.
Soxcell’s business plan forecasts sales to reach $10.5 million by the fifth year, with a net profit of $2.6 million. At these levels, this project would have a net present value of $3.4 million at a 30% discount rate, or an IRR of approximately 89%. Soxcell is seeking interested investors with relevant experience in the energy sector, who can actively help the company reach its goal of providing clean, affordable, off-grid energy on a widespread basis.