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Building a 10 kW Direct Ammonia Power System for Commercial Mobility

Experimental 25 cm² cellLarge-area DAFCStackThree-wheeler

₹5 crore · 24 months

Investor presentation · 23 pages · PDF, 12.5 MB

01 · Investment snapshot

What you are investing in.

TechnologyLow-temperature direct ammonia fuel cell (AEM)Ammonia to DC electricity with no external H₂ cracker. Patent pending.
First product10 kW net DAFC power systemFor commercial three-wheelers, keeping the existing electric drivetrain.
BeachheadDepot-based commercial fleetsControlled refuelling, repeat routes, high utilisation. Tamil Nadu first.
The round₹5 crore · 24 monthsReleased gate by gate: each stage must produce evidence before the next is funded.
02 · Evidence today

What is measured, and what is modelled.

25 cm²Experimental DAFC cell on direct NH₃Experimental
≈0.12 W/cm²Experimental peak power density at ≈70 °CExperimental
Cell → vehicleMATLAB model calibrated on the measured cell dataSimulated
IN 202641059092Patent application filed 9 May 2026 · CBR received

See the data and the risk register →

03 · The ₹5 crore outcome

₹5 Crore. 24 Months. One Clear Engineering Outcome.

Main target TargetThree-wheeler engineering demonstrator with a 10 kW net DAFC power system

What the round funds

  • Large-area cell development
  • Multi-cell stack engineering
  • Balance of plant
  • NH₃ storage and safety
  • Power electronics
  • Vehicle integration
  • Lab durability testing
  • External validation
  • Regulatory engineering
  • Technical manpower

What the round should deliver

  • Large-area DAFC evidence
  • 10 kW net stack evidence
  • NH₃ safety data
  • Durability data
  • Vehicle integration data
  • Independent testing
  • Regulatory pathway
  • Pilot-ready architecture

This round is not

  • Mass production
  • Nationwide fuel infrastructure
  • Consumer vehicle rollout
  • A full OEM production programme

24-month milestone plan

Target
Done25 cm²Chemistry and electrochemistry
M1–4100 cm²Flow-field behaviour
M4–9400–600 cm²Sealing and thermal validation
M9–12900 cm² candidateHigh-current behaviour and distribution
M12–15Short stackCell consistency
M15–19Multi-kW systemBalance-of-plant integration
M19–2410 kW net systemVehicle validation · 3W demonstrator

Indicative months from programme start. Each gate must produce evidence before the next is funded.

Team the round builds

Target
  • Electrochemistry & stack engineer (full-time)
  • Balance-of-plant & ammonia-safety engineer
  • Power electronics & controls engineer
  • Test & validation technician

Working alongside the founders and the technical advisory network. Hiring is sequenced with the development gates.

Information on this website is intended to describe H2ONE's technology-development programme and does not constitute a public securities offering.

04 · Why now & the customer

Who pays, and for what.

12.2 lakhThree-wheelers retailed in India in FY2025, all powertrainsReference
57%Share that was electric: the drivetrain H2ONE keepsReference
High-utilisation fleetsBeachhead: depot-based commercial fleets in Tamil NaduTarget

Customers

  • Fleet operators running commercial three-wheelers from a depot
  • Three-wheeler OEMs, as an alternative primary energy system
  • Later: marine, telecom and rural-power operators on the same platform

Revenue streams

Target
  • DAFC power-module sales
  • Service and maintenance
  • Stack / MEA replacement
  • OEM integration or licensing

Digital fleet monitoring and fuel/depot services are potential future recurring revenue layers.

Module pricing will be set once the stack's cost is validated in the programme. Market figures: FADA FY2025 retail data, Autocar Professional.

Fuel economics

What a kilometre could cost.

From H2ONE's MATLAB vehicle model: 791 kg three-wheeler, 80 Wh/km at the DC bus, 10 kg of usable ammonia.

Range on one 10 kg fill

Simulated
25% efficiency~161 km
30% efficiency~194 km
35% · central~226 km
40% efficiency~258 km
45% efficiency~291 km

Net efficiency is ammonia energy (LHV) to DC-bus electricity. 40–45% are target sensitivities, not measured DAFC performance.

Fuel cost per km, central case

Simulated
NH₃ at ₹50/kg₹2.2/km
NH₃ at ₹75/kg₹3.3/km
NH₃ at ₹100/kg₹4.4/km

About 4.4 kg of ammonia per 100 km at 35% efficiency. Ammonia prices are illustrative inputs, not market quotes. Delivery, depot, taxes, maintenance and stack replacement are excluded.

Against battery-electric and CNG autos: H2ONE will measure fuel cost, uptime and refuelling time on the same routes as conventional fleet vehicles during the depot pilot, rather than quote a modelled comparison. Target

05 · Defensibility

The moat is accumulated operating knowledge.

Easy to copy

  • Public papers
  • Generic hardware
  • Catalogue components
  • Basic system diagrams

Harder to copy

  • Patent-pending direct-ammonia route (IN 202641059092)
  • Large-area performance maps
  • NH₃ operating windows
  • Flow-field learning
  • Membrane/crossover data
  • Stack degradation history
  • Failure database
  • Control calibration
  • Vehicle integration
  • Safety logic
  • Fleet operating data
  • Supplier relationships
PatentTrade know-howFailure databaseControl calibrationSafety integrationSupplier relationshipsCustomer data

The longer the system runs, the more difficult the knowledge base is to reproduce.

The technology comparison with battery EVs, cracker-based and SOFC systems is on the Technology page →

06 · Founder–investor relationship

Long-term technology requires long-term trust.

H2ONE treats investor communication as part of the operating system of the company. No surprise reporting.

  • Monthly engineering progress update
  • Quarterly milestone review
  • Runway and budget visibility
  • Technical risk register
  • Early communication of setbacks
  • Clear explanation when a design decision changes
  • Experimental, simulated and target results kept separate
How we handle failure

Not every experiment will pass. Every result should improve the decision.

TestReview evidenceRoot-cause analysisUpdate modelChange designRepeat test ↺

If a milestone becomes technically or commercially unrealistic, H2ONE's approach is to communicate early, re-baseline the programme and protect remaining capital.

Credentials & traction

Verified milestones, not promises.

See all updates →
Patent pendingIndian Patent Application No. 202641059092 · filed 9 May 2026 · CBR received
₹10 Lakh PoC grantMar-a-thon 2025, India's Maritime Hackathon · with Cochin Port Authority
Incubated at MaDeITMaDeIT Innovation Foundation, IIITDM Kancheepuram
NDA signedVIT Chennai eVIT-RC · fuel-cell study & development
DPIIT recognisedStartup India · DIPP206340
StartupTN registeredSTN87763
Incorporated 17 May 2025CIN U72100TN2025PTC180613