LONDON (Alliance News) - AFC Energy PLC on Tuesday said it has signed a heads of agreement with Thailand-based industrial gas company Bangkok Industrial Gas Co to start a programme of commercial fuel-cell deployment.
An initial 10 megawatt of installed AFC fuel cell capacity is to be developed under the agreement in three phases. The first phase, of 2 megawatts, will be installed by the end of 2016, with the full agreement will be on line by 2018.
AFC and Bangkok Industrial Gas will evaluate in 2015 a joint venture for the development of an initial fuel cell facility in Thailand.
"We are extremely pleased to be working with such a prominent and innovative Thai partner in BIG in the deployment of AFC's world leading alkaline fuel cell into Thailand. The country has long been identified as an important location for AFC, both in terms of the market for fuel cells, but also as a possible location for long term manufacturing and fabrication," said AFC Chief Executive Adam Bond.
AFC shares were up 11% to 45.50 pence on Tuesday morning, one of the best performers in the London Main Market.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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AFC Energy (AFC)