Last checked at 27 Jan 2010 07:00
AFC Energy PLC
('AFC Energy' or the 'Company')
AFC Energy announces an order from Centrica
AFC Energy PLC, the developer of low cost alkaline fuel cells, is pleased to announce that it has secured an order from Centrica PLC reserving 250kW of fuel cell systems for use in a flagship project.
AFC Energy's fuel cells will provide Centrica with a source of carbon-free electricity generation with a conversion efficiency into electricity of up to 60%, far greater than any fossil fuel generation on the market today. The commercial terms of the agreement are to be agreed once AFC has completed development of its 50kW fuel cell system in 2011.
Ian Balchin, AFC Energy's Chief Executive, said:
"We are delighted to receive this order now which effectively gives Centrica an option over our future capacity when we start to roll out our 50kW fuel cell systems. We look forward to working with Centrica and the prospect of installing our fuel cell systems as part of its project."
Brian Amos from Centrica plc added:
"We have looked at a number of technologies that have the potential to generate low-cost electricity with zero carbon dioxide emissions and the fuel cell system from AFC Energy has the potential to meet our requirements for a specific project. We look forward to working with AFC Energy to deliver this solution."
For further information please visit www.afcenergy.com or contact:
| AFC Energy plc Tim Yeo, Chairman Ian Balchin, Managing Director | 01483 276726 |
| Astaire Securities (NOMAD) Shane Gallwey
| 020 7448 4400 |
| Allenby Capital Imran Ahmad
| 020 3328 5656 |
| Madano Partnership Michael Evans Matthew Moth
| 020 7593 4000 |