AFC Energy Regulatory News (AFC)

Reach - This is a non-regulatory announcement.

27 October 2020

AFC Energy PLC

("AFC Energy" or the "Company")

Extreme E 2021 Global Season Launch Highlights "Amazing" Hydrogen Fuel Cell EV Charging Technology with Strong Support from Lewis Hamilton

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, is pleased to welcome Extreme E's 2021 Season Global Launch for the inaugural all-electric SUV rally championship in a live global webcast.

AFC Energy is working with Extreme E and all of its announced racing teams to provide zero emission E-SUV charging for each race event across five strategic locations internationally, highlighting the role motorsport can play in raising awareness of climate change and the need for enhanced environmental protection.

At today's launch, AFC Energy's technology was confirmed as the "perfect technology" for the Championship by CEO Alejandro Agag, followed by 6 time Formula 1 Championship Driver, Lewis Hamilton, stressing use of AFC Energy's fuel cell systems as "Absolutely Incredible" in ensuing the sustainable credentials of Extreme E's charging of vehicles on race days.

AFC Energy launched its first H-Power system in December 2019 and is now working with multiple sporting, commercial and strategic partners interested in the use of fuel cells for rapid EV charging with Extreme E providing a high profile, real word showcase from 2021.

Delivery of Extreme E's charging infrastructure is well underway and is due for completion before pre-season trials commence in December 2020.

Adam Bond, Chief Executive Officer at AFC Energy, said "AFC Energy is proud to be partnering with Extreme E and today, welcomed the words of Championship CEO, Alejandro Agag and Lewis Hamilton, in highlighting the importance hydrogen will play in supporting the sustainable agenda of Extreme E's first 2021 racing season. We continue to work with Extreme E and other partners to see Hydrogen become an increasing enabler to a sustainable off-grid power industry as the world seeks to transition away from diesel as a precursor to delivery of Net Zero aspirations".

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About AFC Energy

AFC Energy plc is commercialising a scalable alkaline fuel cell system, to provide clean electricity for on and off grid applications. The technology, pioneered over the past twelve years in the UK, is now deployable in electric vehicle chargers, off-grid decentralised power systems and industrial gas plants as part of a portfolio approach to the decarbonisation of local electricity needs.