25 February 2013
AFC Energy plc
("AFC Energy" or the "Company")
AFC Energy ships fuel cell system to ICL
Ahead of schedule delivery marks the launch of a phased installation of a 1MW system at a major British chemical plant
AFC Energy (AIM: AFC), the industrial fuel cell power company, is pleased to announce that it has delivered the first fuel cell electricity generating system to Industrial Chemicals Limited ("ICL"), a leading UK commodity chemicals producer.
The shipment is in advance of a 1MW commercial-scale project signed with ICL last year to install the world's largest alkaline fuel cell energy generation system at ICL's chlor-alkali plant in Essex, UK. The project is being supported with a European Union grant of Euro 6.1m (£4.9m), from this April.
The first delivery was for a skid-mounted (mobile) Beta fuel cell system which is expected to be installed and commence supplying small quantities of power to the chemicals works from April 2013. It will use waste hydrogen, produced as a by-product at the chemicals works, as fuel to generate clean energy.
The system will test and qualify the hydrogen supply and site infrastructure ahead of the installation of the larger system in stages later this year. By harnessing the waste hydrogen, AFC Energy's fuel cell system will eventually provide up to 1MW of clean, efficient electricity generation at point of consumption, reducing reliance on grid-supplied electricity by up to 20%.
As part of the project AFC Energy is to provide electrical power to ICL under its first ESCO (Energy Supply Company) arrangement whereby ICL will provide its hydrogen and purchase power under long-term contracts. AFC Energy will own, operate and maintain the fuel cell systems.
AFC Energy's CEO, Ian Williamson, commented: "Our project with ICL is a flagship venture for us and the UK and we are pulling out all the stops to get it underway ahead of schedule. Although the EU grant funding will not commence until April, we decided to press ahead with the first Beta system to demonstrate to the world our serious intent and ability to generate low-cost electricity using purpose-designed industrial fuel cells.
"With the progress we have already made with our first manufacturing facility, which opened in September 2012, and the inroads being made to extend electrode life beyond the six month milestone as announced last month, this achievement gives us confidence to begin to implement plans for opening international markets."
Ends
For further information, please contact:
AFC Energy plc Ian Williamson, Chief Executive Ian Balchin, Deputy Chairman |
+44 (0)1483 276726 |
Luther Pendragon - Public Relations Adviser Neil Thapar, Alexis Gore, Dan Wilson Craw |
+44 (0)20 7618 9100 |
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MC Peat & Co. - Corporate Broker Charlie Peat |
+44 (0)20 7104 2334 |
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Allenby Capital - Nominated Adviser Jeremy Porter, James Reeve |
+44 (0)20 3328 5656 |
About AFC Energy
Founded in 2006, AFC Energy plc is re-engineering proven alkaline fuel cell technology to reduce the cost of electricity. Alkaline fuel cells have been used on US and Russian manned space missions for decades to provide electrical power and drinking water. By using modern materials, design tools and manufacturing processes at scale, AFC Energy is developing fuel cells that will compete with conventional technologies such as turbines for electrical power generation. Today, AFC Energy is pursuing opportunities in several sectors where hydrogen is readily available including the chlorine, clean coal and waste-to-energy industries as well as applications for distributed/back-up power. For further information, please visit our website: www.afcenergy.com
About Industrial Chemicals Limited
Industrial Chemicals Limited is part of a fast growing chemical manufacturing group operating plants in the UK and USA supplying products to the detergent, paper, water treatment and chemical industries on a global basis. The company is in the final stages of commissioning Europe's newest Chlor-alkali plant at one of its major manufacturing sites in Essex, this new facility will continue the company's rapid expansion in terms of new products, new markets and new customers.
ICL is a relatively large, yet privately owned, company with a track record of being able to design and implement chemical manufacturing process for its customers faster than others. Our structure gives us the flexibility and scalability to act quickly and adapt to the requirements of our consumers. Website: www.icgl.co.uk
