AFC Energy Regulatory News (AFC)

Reach announcement - non regulatory

16 September 2021

AFC Energy plc

("AFC" or the "Company")

Urban-Air Port Partnership with First Hydrogen Fuel Cell Deployment Planned for 2022

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, is pleased to announce the signing of a Hydrogen Fuel Cell Supply and Collaboration Agreement with partner, Urban-Air Port Limited ("Urban-Air Port").

Highlights

· Urban-Air Port is a leading UK designer, developer and operator of innovative ground infrastructure for the growing demand in autonomous airborne drones and electric take-off and landing ("eVTOL") passenger vehicles.

· In partnership with Hyundai Motor Group announced today, Urban-Air Port plans to develop 65 electric urban air ports worldwide, adopting sustainable energy solutions.

· AFC Energy to lease a zero emission hydrogen power generator to Urban-Air Port's world first deployment, "Air-One", in Coventry, to support the power needs of vehicle charging infrastructure.

· "Air-One" is the first of more than 200 discreet sites identified for prospective development by Urban-Air Port in the next five years.

· Urban-Air Port and AFC Energy will evaluate the deployment opportunities of zero emission, hydrogen fuelled off-grid power to future sites within the portfolio of projects under development.

AFC Energy and Urban-Air Port today announces its partnership to provide zero emission off-grid power solutions for Urban-Air Port's innovative ground infrastructure, designed to accommodate the growing autonomous drone and eVTOL passenger vehicle worldwide markets.

Urban-Air Port's philosophy is to design integrated sustainable transport hubs with a decarbonised ethos at their centre that, in addition to airborne vehicles, will accommodate electric vehicles (EVs), buses and scooters. Their unique modular and compact hub design facilitates airport deployment in urban centres, whilst also being ideal for disaster emergency relief.

Urban-Air Port's "Air-One" site - its world first fully operational hub for eVTOL aircraft - will be unveiled in Coventry City Centre in early 2022 to showcase how sustainable urban air mobility can reduce congestion, cut air pollution and decarbonise transport.

As part of "Air-One", AFC Energy will be providing a fully operational hydrogen fuel cell system, on a lease basis for three weeks, enabling clean power generation and charging onsite. This combination of technology solves the problem of affordable, green offgrid power, enabling advanced air mobility from more sites, reducing travel times of goods and services, whilst cutting greenhouse gas emissions.

In addition to "Air-One", Urban-Air Port, in partnership with the Urban Air Mobility Division of Hyundai Motor Group, plan to develop 65 electric urban airports worldwide to meet growing demand for e-Mobility in the aviation sector. This partnership forms a key part of Urban-Air Port's plan to build 200 sites globally in the next five years.

Under the terms of the Collaboration Agreement, Urban-Air Port and AFC Energy will look to expand their partnership to support a wider integration of sustainable power systems within the Urban-Air Port hub ecosystem in grid absent or constrained environments.

Ricky Sandhu, Founder and Executive Chairman - Urban Air Port Ltd, said "Zero emission, off-grid power is a critical component of our offering at Urban-Air Port and AFC Energy are the perfect partner to provide that capability with their world leading Hydrogen Fuel Cell technology. We're delighted to have them at Air One and eagerly anticipate expanding the partnership to deliver clean, green, off-grid power to the future of air mobility."

Adam Bond, Chief Executive Officer at AFC Energy, said "Urban-Air Port's aspiration to establish a global network of urban airports and unlock clean air mobility worldwide affirms its disruptor qualities within the eVTOL and autonomous aircraft space. With a commitment to the eradication of diesel generation in grid constrained environments, AFC Energy is pleased to be partnering with Urban-Air Port in support of its bold vision to decarbonise air and ground based transportation through its modular hub ecosystems in both dense urban and remote locations. We look forwards to seeing our fuel cell in full operation at Air-One in Coventry in 2022".

-ENDS-

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About AFC Energy plc

AFC Energy plc is a leading provider of hydrogen fuel cell power systems to generate clean energy in support of the global energy transition.

Based in the UK, the Company's scalable systems provide off-grid, zero emission power that are already being deployed for rapid electric vehicle charging and the replacement of diesel generators for temporary power applications.

AFC Energy is also working with global partners in the deployment of products for the Maritime, Ports, Data Centres and Rail industries, emphasising the central role of its technology in the decarbonisation of global industry.