LONDON (Alliance News) - AFC Energy PLC on Tuesday announced a proposed collaboration with Rolec Services Ltd for electric vehicle charging systems.
Under the deal, AFC will work with Rolec to design and deploy fully-integrated fuel cells electric vehicle charging systems, in a variety of sizes, using Rolec's charging platform and AFC's fuel cells.
The two expectsa first demonstration system to be deployed in the second half of 2019.
AFC Chief Executive Adam Bond said: "The number of commercial enquiries received since announcing AFC Energy's electric vehicle fuel cell charger system, CH2ARGE, earlier this year has clearly demonstrated the potential for the company to capitalise on this growing market.
"Our collaboration with Rolec is a recognition of the industry's desire to explore off-grid electric vehicle charging solutions to meet a need already seen across several of Rolec's local and international clients. AFC Energy's EV charger is now one of our key markets for revenue generation and gives us an early mover advantage in penetrating the off-grid market."
Shares were 6.6% higher on Tuesday at a price of 3.34 pence each.
AFC Energy (AFC)