Inside FirstElement Fuel – Revolutionizing Transportation through Hydrogen
In the journey to reduce carbon emissions, this startup company in Orange County has developed into a global leader in a technology critical to decarbonizing transportation: hydrogen infrastructure. Hear how this company has captured a 90% market share and raised over $250 million in private capital.
Thursday, November 14, 2024 @ 5:00 PM - 8:00 PM
FirstElement Fuel, Inc., 660 East Dyer Road, Santa Ana, CA 92705
This Inside the Company Event showcases the successes and challenges of a startup that is playing an outsized role in creating and scaling the hydrogen mobility market.
Click here to register now!
Cost: Members and their guests, $30; Non-Members, $50: Walk-Ins, $65
Contact: Karen Hernandez, hbs@hbsaoc.org
Parking: Free Parking in Building Parking Lot
You'll hear how they are revolutionizing transportation by:
- Creating and developing a new market
- Integrating parts of the supply chain to advance technological development
- Raising capital critical to scaling the network and investing in R&D, and
- Collaborating with industry giants.
EVENT HIGHLIGHTS:
- Exclusive Tour of the Innovation Center: Experience the driving force behind innovations enabling the rollout of hydrogen powered vehicles.
- Presentation: Find out how a startup beat out larger, more established competitors to become the global leader in hydrogen refueling, and how it aims to revolutionize transportation, from the Founder and CEO, Dr. Tim Brown.
- Networking Opportunities: Connect with fellow HBS alumni, influential business leaders, and the innovators at FEF.
SCHEDULE:
- 5:00 to 6:00: Reception and Open House
- 6:00 to 6:30: FEF Overview by Dr. Tim Brown (CEO)
- 6:30 to 7:30: Innovation Center Tour by Dr. Tim Brown (CEO) and Ghassan Sleiman (CTO)
- 7:30 to 8:00: Optional Networking Session
MORE ABOUT THE COMPANY AND THE SPEAKERS
Changing Mobility through Hydrogen:
FEF believes hydrogen will play a key role in decarbonizing heavy-duty commercial trucks, medium duty trucks and vans, and light duty passenger transportation. Join us for a sneak peek into the future of mobility inside the global leader in hydrogen refueling.
WHY HYDROGEN?
- Because of the characteristics below, hydrogen plays a critical role in decarbonizing heavy-duty and medium-duty vehicles, as well as certain segments of light-duty passenger vehicles.
- Zero Emissions: only water comes out of the tailpipe.
- Shorter Refueling Times: 5 minutes for passenger and 10 minutes for a class 8 truck for a full fill with similar range to gasoline or diesel.
- Light: hydrogen, the lightest element on the periodic table, can store large amounts of energy with a fraction of the weight of batteries.
- Less strain on grid: since hydrogen is the most abundant element on earth, it can be produced from a diverse range of sources. Because it can also be stored for long periods, it has the potential to alleviate peak loads on the grid.
WHAT MAKES FEF UNIQUE:
- 90% Market Share: with over 1,000 vehicles fueled every day through its network of 39 light / medium duty stations and 1 heavy duty station across California, FEF’s stations make up around 90% of the U.S. hydrogen refueling market by volume.
- One-of-a-Kind Engineering Team and R&D Center: FEF’s scale has allowed it to support its own engineering team and R&D center focused purely on hydrogen refueling, which the company will showcase at this event.
- A 10 Year Advantage in IP, Equipment, and Expertise: FEF’s unique R&D capabilities have allowed it to continue to find failure points and innovate, enabling the accumulation of knowledge and IP over 10 years. This has led FEF’s stations to be significantly higher capacity and more reliable than any other on the market.
- Expansion into Equipment Development: FEF, jointly with Bosch, is utilizing its IP and expertise to develop the next generation of hydrogen refueling equipment, designed to be significantly higher capacity, exponentially more efficient, and vastly more reliable than any existing equipment.
- Rapid Growth: a scalable, efficient, station design has allowed FEF to grow its revenue by over 100% from FY 2022 to FY 2023.
- Diverse Investors: as a Series E startup, FEF has procured over $250 million in private capital from major players across the hydrogen supply chain, such as Honda, Air Liquide, and Mitsui & Co.
- The World’s First True Heavy Duty Hydrogen Refueling Station: FEF’s learnings from its existing light / medium duty network have allowed FEF to open the world’s first station for heavy duty commercial trucks, capable of refueling 2 trucks simultaneously back-to-back in 10 minutes.
ABOUT OUR SPEAKERS
Dr. Tim Brown, Founder, Chief Executive Officer
Dr. Tim Brown serves as the CEO and Co-Founder of FirstElement Fuel (FEF), overseeing strategy, governance, capital allocation, and operations. With a background as President and Chief Innovation Officer, Dr. Brown has played a pivotal role in shaping FEF's technology roadmap and establishing the company as a leader in hydrogen fuel infrastructure. His leadership was instrumental in developing California's hydrogen fueling station network. Dr. Brown also contributes his expertise as a member of FEF’s Board of Directors, guiding strategic decisions to foster the adoption of hydrogen vehicles.
Before founding FEF, Dr. Brown led pioneering research in sustainable energy and transportation at the University of California, Irvine (UCI), where he managed hydrogen station operations and collaborated on key projects across the energy spectrum. His academic journey includes a Bachelor of Science from the University of Notre Dame, a Master of Science in Automotive Systems Engineering from the University of Michigan, and a Ph.D. in Mechanical Engineering from UCI. Dr. Brown's industry experience at General Motors, specializing in automotive fuel system development, further enhances his comprehensive approach to advancing clean energy solutions.
Dr. Brown is a leading advocate for sustainable transportation, focusing particularly on advancing hydrogen technology to mitigate urban exhaust pollution, reduce carbon emissions, and improve global energy security. His initiatives drive innovations that contribute to a cleaner and more sustainable future.
John Finnucan IV, Chief Financial Officer
John Finnucan is the Chief Financial Officer of FirstElement Fuel and is responsible for strategic planning, capital raising, corporate development, financial planning, and accounting. Additionally, Mr. Finnucan maintains and executes the Company’s financial models and budgets and is an integral member of key strategic decision-making processes.
Prior to joining the Company in 2023, Mr. Finnucan served as Chief Accounting Officer at Fisker, where he built and led the Company’s Accounting practice and helped lead the execution of Fisker’s public offering. Prior to Fisker, Mr. Finnucan had a 26-year career at Ernst and Young, where he most recently served as Audit Partner, Americas Professional Practice at Ernst and Young.
Mr. Finnucan is a Certified Public Accountant and has a Bachelor of Science in Accounting from The University of Akron.
Ghassan Sleiman, Chief Technology Officer
Ghassan Sleiman is Chief Technology Officer at FirstElement Fuel, overseeing the Company’s Research and Development, Engineering, Fabrication, and Manufacturing efforts. In addition, he is responsible for fueling station and product innovation, equipment optimization, and vendor partnerships.
Mr. Sleiman has spent nine years at FirstElement Fuel, playing a pivotal role in the Company’s growth to become the world leader in retail hydrogen. He has built the in-house expertise and processes around station design, permitting, service, sales, and operation of the hydrogen network. Throughout his career, Mr. Sleiman has successfully implemented hydrogen solutions across diverse industries, including hydrogen retail fueling, fuel cells, electrolyzers, reformers, blended fuels, energy storage, food industry, power generation, mining, and hydrogen transport and logistics.
Mr. Sleiman has dedicated his entire 24-year professional career to the advancement of hydrogen and has experience across the entire hydrogen value chain. Mr. Sleiman has worked on over 70 hydrogen projects, including over 60 hydrogen refueling stations. Before joining FirstElement Fuel, Mr. Sleiman worked at Cummins (formerly Hydrogenics) and Stuart Energy Systems across various roles and responsibilities including managing technical aspects for a multitude of Fortune 500 companies’ hydrogen projects.
Mr. Sleiman has a Bachelor of Science in Mechanical Engineering from the University of Toronto.
Kohei Shoji, VP, Strategy & Finance
Kohei Shoji is the VP of Strategy & Finance for FirstElement Fuel and heads the strategic planning and capital raising functions.
Prior to joining the company in 2022, Mr. Shoji spent six years at the Japan Bank for International Cooperation. His positions spanned across growth equity to corporate finance. Mr. Shoji has extensive experience in energy-related equity investments, having led deal teams which closed investments in hydrogen, battery, and natural gas related fields in the U.S., Europe, and Southeast Asia.
Mr. Shoji holds an MBA from the Harvard Business School and a bachelor’s degree in Political Science and Economics from Waseda University.
ABOUT FEF:
FirstElement Fuel Inc. (FEF or the "Company") is a California-based company established in 2013 to provide safe, reliable, retail hydrogen to customers of hydrogen-powered vehicles. The Company is the world leader in hydrogen refueling station solutions, with facilities in Irvine, Santa Ana, and Livermore, CA. FEF has 41 retail light-duty stations throughout California and is developing a network of stations to serve Heavy Duty Trucks powered by hydrogen, starting with the world's first high-flow refueling station in Oakland, CA as part of a joint project with the California Air Resources Board and the California Energy Commission. Over the past 10 years since FEF's founding, the Company has partnered with public organizations including the California Energy Commission, the South Coast Air Quality Management District, the Bay Area Air Quality Management District, and the Sacramento Municipal Air Quality Management District which have also provided funding. Private partnerships have included those with Mitsui & Co, Air Water Inc., Honda Motor Company, Toyota Motor Corporation, MUFG, the Japan Bank of International Cooperation, Nikkiso, and Air Liquide., all of which have provided funds to FEF in pursuit of the vision of a zero-emissions transportation future.