LONDON (Alliance News) - Industrial fuel cell power company AFC Energy PLC on Tuesday said it has signed a heads of agreement with an unnamed global manufacturing partner.
The heads of agreement will cover the procurement and manufacturing of AFC's alkaline fuel cell systems. The terms of the deal will be negotiated over coming months and AFC will provide a further update when the final terms are agreed.
"Whilst I expect negotiations on a manufacturing services agreement to progress over the coming weeks and months, I believe the signing of the heads of agreement is further validation of the global interest being shown in fuel cell technology generally, and specifically in AFC's offering and positioning within this international market," said Chief Executive Adam Bond.
Shares in AFC were flat at 34.375 pence on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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AFC Energy (AFC)