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11 July 2022
AFC Energy PLC
("AFC Energy" or the "Company")
Mace Dragados Set to Adopt Hydrogen Fueled Power Tower on UK Construction Site
AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, is pleased to announce an agreement has been reached for the deployment of a further Power Tower fuel cell generator system in support of the decarbonisation of a London based construction site.
The Power Tower hydrogen power generator will be leased to the Mace Dragados Joint Venture ("Mace Dragados") for deployment at a high-profile UK infrastructure project during the second half of 2022. The project client will provide full details of the deployment in due course.
This agreement is the basis for a longer-term collaboration to support Mace Dragados' sustainability aspirations through adoption of zero emission energy where grid supply is constrained.
AFC Energy's series of lease agreements with UK and international construction companies validates the role hydrogen is set to play in the decarbonisation of industry and is the first phase towards establishing more traditional models of selling units to plant hire companies and creating a critical mass of large-scale fuel cell system deployment.
Adam Bond, Chief Executive Officer at AFC Energy, said:
"Our new Power Towers represent a significant step forward in hydrogen fuel cell technology. We are now working with a number of UK and European construction companies and are accelerating progress towards establishing a critical mass of large-scale deployment across these regions to enable the construction sector and other temporary power operators to transition away from highly pollutant diesel generators."
For further information, please contact:
AFC Energy plc Adam Bond (Chief Executive Officer) Ben Bradshaw (Head of Marketing) | +44 (0) 14 8327 6726 investors@afcenergy.com |
Peel Hunt LLP - Nominated Adviser and Joint Broker Richard Crichton / Tom Ballard / Alexander Allen | +44 (0) 207 418 8900
|
M C Peat & Co LLP - Joint Broker Charlie Peat | +44 (0) 20 7104 2334 |
Zeus Capital Limited - Joint Broker Daniel Harris / James Hornigold (Investment Banking) Dominic King (Corporate Broking) / Rupert Woolfenden (Sales) |
+44 (0) 203 829 5000 |
FTI Consulting - Financial PR Advisors Ben Brewerton / Nick Hennis / Dhruv Soni | +44 (0) 203 727 1000 afcenergy@fticonsulting.com |
About AFC Energy
AFC Energy plc is commercialising scalable "fuel flexible" fuel cell systems, 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 data centre applications with emerging opportunities across maritime and rail as part of a portfolio approach to the decarbonisation of local electricity needs.