RE: Great Progress report from Adam !22 Feb 2024 10:02
Let’s have a bit of fun then and see what big news we had 10 years ago when the SP was about to rocket.
24 February 2014
AFC Energy plc
( "AFC Energy")
New drive to accelerate launch of energy-from-waste projects in Thailand
AFC Energy plc, a leading British industrial fuel cell power company, is pleased to announce that it has signed a new co-operation agreement in Bangkok to accelerate the adoption of its fuel cell systems in proposed energy-from-waste (EfW) projects in Thailand.
The agreement, comprising a Memorandum of Understanding, was signed late last week between AFC Energy, Waste2Tricity International (Thailand) Ltd, and Alter NRG Corporation (collectively "the Participants") at the St Regis Hotel in Bangkok. The ceremony was held in the presence of His Excellency, Mark Kent, the UK ambassador, together with senior executives from the Thai banking, waste and real estate sectors.
The MOU builds on the commercialisation deal announced on 31 October 2013 granting exclusive rights to Waste2Tricity International (Thailand) Ltd to use AFC Energy's low-cost fuel cell systems to generate renewable power from hydrogen gasified from municipal solid waste.
Following positive market feedback, the Participants have expanded their cooperation to advance a number of large scale EfW projects in Thailand. In addition, the Participants will investigate ways to assemble fuel cells in Thailand, reduce the timeline of fuel cells being integrated into waste plants and lobby the Thai government for fuel cell incentives.
Waste2Tricity International (Thailand) Ltd is a majority owned subsidiary of Waste2Tricity Ltd, a UK based developer of EfW projects in which AFC Energy owns 23% equity. Alter NRG, based in Canada, is a leading waste gasification technology company.
Ian Williamson, Chief Executive Officer AFC Energy, said: "We are delighted to continue our close relationship with Waste2Tricity and to be working closely with Alter NRG. Everyone believes there is a considerable opportunity for large scale waste to energy projects in Thailand as these will not only increase energy independence from renewable sources but will also alleviate pressure on landfill to deal with waste. Working together we can benefit from first mover advantage and open up this market quickly and demonstrate a compelling investment case for such fuel cell-based power systems."
PK Thummukgool, Director of Waste2tricity and Project Director for the Thailand project, said: "This agreement clearly demonstrates Waste2Tricity's intentions to shorten the time to market for our energy-from-waste systems incorporating AFC's low cost fuel cells. The MOU will quickly establish a business model to monetise the growing waste stream in Thailand and also create a platform for developing similar projects in the ASEAN region."