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| Date | 19 Apr 2023 |
| Time | 07:00:05 |
| Category | Miscellaneous |
| ID | 6680W |
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER ARTICLE 7 OF THE EU REGULATION 596/2014 AS IT FORMS PART OF THE UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
19 April 2023
AFC Energy PLC
("AFC Energy" or the "Company")
ACCIONA Orders First 50kVA H-Power Generator
AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, is pleased to confirm ACCIONA's first order of an H-Power "S" Series 50kVA hydrogen powered generator for delivery in Spain during the second half of 2023.
Highlights
· New 50kVA H-Power Generator designed for heavy duty construction and temporary power market.
· ACCIONA to rent the system for a period of six months with an option to purchase or extend.
· The generator will comprise a 30kW AFC Energy air cooled fuel cell and 45kWh battery storage system.
· Zero emission H-Power Generator Series is a step towards displacing ACCIONA's incumbent internal fleet of 30 - 80 kVA diesel generators.
· The new 30kW "S" Series fuel cell will be housed within AFC Energy's new "generator canopy".
· The 50kVA system will see significant cost reductions on a per kW basis versus the first H-Power Tower.
· The H-Power S Series 50kVA genset delivers 400% power versus the original H-Power Tower.
· H-Power Generator Series targets a significant proportion of the existing diesel generator fleet and is in a "sweet spot" for mass deployment.
ACCIONA hosted AFC Energy's first H-Power Tower field deployment over the summer of 2022. During the 13-week deployment, customer feedback was captured and reflected in the next product within the Company's fuel cell portfolio, being a 30kW fuel cell generator.
The generator will operate harmonized with a battery storage system giving a total 50kVA output (measured against existing ISO standards for diesel generators) and is specifically designed for heavy duty construction sites.
The 30kW fuel cell platform will house 12 x 2.5kW air cooled "S" Series fuel cell systems and produce a high voltage DC output, resulting in a material cost reduction relative to the original Power Tower configuration.
ACCIONA has agreed to lease the 50kVA H-Power S Series generator for a period of six months following which it will have an option to purchase the system at a pre-agreed price or further extend the lease.
AFC Energy will procure and operationally integrate a battery storage system capable of accepting DC power feed for interface with the end customer's power needs. The battery is expected to be sized at or around 45kWh.
Miguel Paris Torres, Head of Area at ACCIONA's Construction R&D Centre, said:
"Our partnership with AFC Energy is very valuable for ACCIONA and through our collaborative approach to system design and development, we are confident the Company's new 50kVA generator set will have wide reaching adoption across the construction industry. The system's modularity, scalability and compactness make this an ideal platform to displace diesel generators from our construction sites in the near term, helping us to achieve our decarbonization target for our construction activities, and we look forward to taking possession of our first system later this year."
Adam Bond, Chief Executive Officer at AFC Energy, said:
"ACCIONA is a key relationship for AFC Energy and has provided support to us in defining the "voice of the customer" in a way that has informed the design specification and operation of our new 50kVA H-Power S Series emissions-free genset. Decarbonisation of the construction industry, in the UK, Europe and internationally is an important step in society's move towards Net Zero. This development highlights the importance that leadership from companies like ACCIONA, acting in partnership with AFC Energy, play in driving long term sustainable change across this industry."
For further information, please contact:
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AFC Energy plc Adam Bond (Chief Executive Officer)
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+44 (0) 14 8327 6726 |
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Peel Hunt LLP - Nominated Adviser and Joint Broker Richard Crichton / Tom Ballard / Georgia Langoulant |
+44 (0) 207 418 8900
|
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Zeus - Joint Broker David Foreman / James Hornigold (Investment Banking) Dominic King (Corporate Broking) / Rupert Woolfenden (Sales) |
+44 (0) 203 829 5000 |
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FTI Consulting - Financial PR Advisors Ben Brewerton / Nick Hennis / Dhruv Soni |
+44 (0) 203 727 1000 |
About AFC Energy
AFC Energy plc is commercialising scalable "flex fuel" 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.