Year	Production	selling price	Incomes	Total oper.	Annual cash		Net annual	total	Annual net cash	fd	Net annual	Net Present	IRR
		H2  lt/year	H2 £/lt	from H2 £	cost £	income £	tax 40%	cash income	capital cost £	flow after tax	1/(1+I)^n	discounted cash flow	Value (NPV)
	0	0	0	0	0	0	0	0	1,246,500	-1,246,500	1	-1,246,500	-1,246,500	15%
	1	40,332,500	0.03000	1,209,975	709,755	500,220	200,088	300,132	0	300,132	0.9090909	272,847	-973,653
	2	40,332,500	0.03000	1,209,975	709,755	500,220	200,088	300,132	0	300,132	0.8264463	248,043	-725,610
	3	40,332,500	0.03000	1,209,975	709,755	500,220	200,088	300,132	0	300,132	0.7513148	225,494	-500,116
	4	40,332,500	0.03000	1,209,975	709,755	500,220	200,088	300,132	0	300,132	0.6830135	204,994	-295,122
	5	40,332,500	0.03200	1,290,640	709,755	580,885	232,354	348,531	0	348,531	0.6209213	216,410	-78,712
	6	40,332,500	0.03400	1,371,305	709,755	661,550	264,620	396,930	0	396,930	0.5644739	224,057	145,345
	7	40,332,500	0.03600	1,451,970	709,755	742,215	296,886	445,329	0	445,329	0.5131581	228,524	373,869
	8	40,332,500	0.03800	1,532,635	709,755	822,880	329,152	493,728	0	493,728	0.4665074	230,328	604,197
	9	40,332,500	0.04000	1,613,300	709,755	903,545	361,418	542,127	0	542,127	0.4240976	229,915	834,112
	10	40,332,500	0.04080	1,645,566	709,755	935,811	374,324	561,487	0	561,487	0.3855433	216,477	1,050,589
	11	40,332,500	0.04080	1,645,566	709,755	935,811	374,324	561,487	0	561,487	0.3504939	196,798	1,247,387
	12	40,332,500	0.04080	1,645,566	709,755	935,811	374,324	561,487	0	561,487	0.3186308	178,907	1,426,294
	13	40,332,500	0.04080	1,645,566	709,755	935,811	374,324	561,487	0	561,487	0.2896644	162,643	1,588,936
	14	40,332,500	0.04080	1,645,566	709,755	935,811	374,324	561,487	0	561,487	0.2633313	147,857	1,736,793
	15	40,332,500	0.04162	1,678,477	709,755	968,722	387,489	581,233	0	581,233	0.239392	139,143	1,875,936
	16	40,332,500	0.04162	1,678,477	709,755	968,722	387,489	581,233	0	581,233	0.2176291	126,493	2,002,429
	17	40,332,500	0.04162	1,678,477	709,755	968,722	387,489	581,233	0	581,233	0.1978447	114,994	2,117,423
	18	40,332,500	0.04162	1,678,477	709,755	968,722	387,489	581,233	0	581,233	0.1798588	104,540	2,221,963
	19	40,332,500	0.04162	1,678,477	709,755	968,722	387,489	581,233	0	581,233	0.163508	95,036	2,316,999
	20	40,332,500	0.04245	1,712,047	709,755	1,002,292	400,917	601,375	0	601,375	0.1486436	89,391	2,406,390