AFC Energy PLC

("AFC Energy" or the "Company")

AFC CTO to Chair new UK Ammonia Alliance industry group

AFC Energy plc (AIM: AFC) ("AFC Energy"), a leading provider of hydrogen powered generator and ammonia cracking technologies, is pleased to announce that Dr Mike Rendall, Chief Technology Officer, has become the inaugural Chair of the newly established UK Ammonia Alliance (UKAA) industry group.

Highlights:

·      The founding members of the UKAA are AFC Energy, Air Products, Blended Products, Clean Air Power, Exolum, Green Cat Hydrogen, HYCAP, Industrial Chemicals Limited, Mitsubishi Heavy Industries, N-Gen Energy and Statkraft.

·      The objective of UKAA is to accelerate growth in the UK's ammonia industry and drive adoption of low-carbon ammonia and ammonia technology solutions across vital sectors.

·      As Chair of the Alliance, AFC Energy will share its insights and expertise in developing ammonia cracking technology with Government and industry colleagues.

·    The Alliance will hold its first public event in Parliament in November and will call for supportive UK Government policy to ensure the UK captures the full economic, energy security and decarbonisation benefits of the growing hydrogen market.

AFC Energy has confirmed that Dr Mike Rendall, Chief Technology Officer, has become the inaugural Chair of the newly established UK Ammonia Alliance industry group.

Through its founding members, the Alliance will draw on their collective, deep expertise and innovation across the ammonia, energy and hydrogen industries. The Alliance's first event in Parliament in November will be attended by MPs and Peers, where it will launch a policy paper setting out key steps to unlocking the UK's ammonia opportunity.

Essential for modern agriculture and industry, ammonia has long been used in fertilisers, refrigeration and manufacturing. Today, low-carbon ammonia offers a pathway to decarbonise these vital sectors while also accelerating the energy transition as an efficient hydrogen carrier, affordable solution for hydrogen transport and storage, source of clean power, and sustainable fuel.

Production of low-carbon ammonia is quickly scaling-up around the world. Bloomberg analysis suggests that 92% of new ammonia supply added between 2024 and 2030 will be low-carbon, accounting for 13% of total global ammonia supply by 2030.

The UK Ammonia Alliance seeks to help industries adopt these solutions at-scale, to support the UK Government in unlocking the strategic role that low-carbon ammonia can play in delivering decarbonisation, energy security, and economic growth. The International Energy Agency (IEA) projecting that ammonia production will rise almost 40% by 2050.

Already, at least 428 unique low-carbon ammonia production facilities have been announced around the world, according to the Ammonia Energy Association (AEA) as of August 2024. Among these, there are major low-carbon ammonia production plants that have already reached Final Investment Decision (FID) or begun construction.

John Wilson, Chief Executive of AFC Energy, said:

"We are delighted that eleven leading businesses have taken the positive step to establish the UK Ammonia Alliance, and AFC Energy is proud that Mike is taking on the important role as Chair of the group.

"At AFC Energy, we believe clean ammonia imports will play a vital role in making low-carbon and zero emission hydrogen accessible across the UK. By using our compact, decentralised ammonia crackers and ammonia-to-power systems, we plan to supply hydrogen and clean power at scale for industry and transport applications - reliably, at a commercially viable price point, and without the need for government subsidies.

"The establishment of the Alliance can play a vital role in securing policy changes to help accelerate the growth of this market, and provide greater energy resilience and security to the country."

For further information, please contact: Investors@afcenergy.com

FTI Consulting - Financial PR Advisors

Ben Brewerton / Chris Laing / Evie Taylor    

+44 (0) 203 727 1000

afcenergy@fticonsulting.com

About AFC Energy

AFC Energy plc is a leading provider of hydrogen energy solutions, to provide clean electricity for on and off grid power applications. The Company's fuel cell technology is now deployable as electric vehicle chargers, off-grid decentralised power systems for construction and temporary power with emerging opportunities across maritime, data centres and rail as part of a portfolio approach to the decarbonisation of society's growing electrification needs.

The Company's proprietary ammonia cracking technology further highlights emerging opportunities across the distributed hydrogen production market with a focus on hydrogen's role in supporting industries facing challenges in decarbonisation, such as mining, cement and heavy engineering.