5 August 2016
AFC Energy PLC
("AFC Energy" or the "Company")
AFC Energy Signs Strategic Technology Collaboration with De Nora
AFC Energy (AIM: AFC), the industrial fuel cell power company, is pleased to announce that it has signed a Joint Development Agreement ("JDA") with the Italian company Industrie De Nora S.p.A. ("De Nora").
The collaboration is targeting technological enhancements to AFC Energy's fuel cell system and to further accelerate commercialisation of AFC Energy's technology platform. Subject to satisfactory progress, it is the intent of the parties to widen the collaboration to develop new product offerings combining the AFC Energy fuel cell system with De Nora's systems and provide a vehicle to open new markets for mutual benefit.
De Nora is a multinational leader in sustainable technologies, that offers energy savings solutions for several electrochemical processes; in addition De Nora manufactures commercial electrodes for alkaline water electrolysis, chlor-alkali, galvanic processes and is a recognised global player in water and wastewater treatment, disinfection and filtration for marine, power, industrial and municipal markets.
The decision by De Nora to partner with AFC Energy comes after extensive technical discussions between the two parties over recent months.
The JDA with De Nora builds on the already successful strategic partnership entered into between AFC Energy and with German process engineering consultants plantIng GmbH in February 2016 and is fully consistent with the Company's 2016 strategic intention of leveraging the successful experience of other companies in the AFC roadmap to success.
Luca Buonerba, De Nora's Chief Marketing and Business Development Officer, said: "We are excited to start the JDA with AFC Energy. Our technical teams have been very impressed by the advances which have been made to date by AFC Energy and are confident that further significant steps can be made by both parties working closely together. We look forward to progressing this mutually beneficial partnership with AFC Energy into a long term strategic and commercial relationship."
Adam Bond, AFC Energy's Chief Executive Officer, said: "This agreement today marks the commencement of long term collaboration with De Nora, which will see AFC Energy access the expertise of arguably the world's leading designer, manufacturer and supplier of electrodes. The relationship and the proposed program for collaboration will significantly build on the recent successes of AFC Energy and will no doubt materially de-risk and speed up AFC Energy's path to commercialisation. I am delighted that AFC Energy will now be working closely together with De Nora and its world class team."
For further information, please contact:
AFC Energy plc Adam Bond (Chief Executive Officer) |
+44 (0) 20 3697 1209 |
Cantor Fitzgerald Europe - Nominated Adviser and Joint Broker Andrew Craig Richard Salmond |
+44 (0) 20 7894 7000 |
M C Peat & Co LLP - Joint Broker Charlie Peat |
+44 (0) 20 7104 2334 |
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Lionsgate Communications - Public Relations Jonathan Charles |
+44 (0) 20 3697 1209 |
About AFC Energy
AFC Energy plc has developed an alkaline fuel cell system, which converts hydrogen into 'clean' electricity. AFC Energy's POWER-UP project demonstrated the world's largest operational alkaline fuel cell system at Air Products' industrial gas plant in Stade, Germany in January 2016. The Company is now looking to build upon an already established pipeline of commercial opportunities through delivery of a technically optimised and commercially relevant fuel cell system. For further information, please visit our website: www.afcenergy.com
About De Nora
De Nora is an Italian multinational leader in sustainable technologies, that offers energy saving products and water treatment solutions. Globally De Nora is the pre-eminent provider of electrodes for electrochemical processes (Chlorine & Caustic, Electronics & Surface Finishing, Pools Electro-chlorination, Specialties) and is among the leaders in technologies and processes for filtration and disinfection of water (industrial use, public health, marine water and wastewater). The Company has grown internally through continuous innovation and externally with major acquisitions in USA, Japan, England and Italy. It serves clients in 119 countries and has a physical presence in 11 countries worldwide with 23 offices, 13 manufacturing facilities, 3 research & development centres in Italy, USA and Japan. De Nora currently owns 344 patent families with more than 2,000 territorial extensions.
For further information, please visit De Nora's website: www.denora.com
Luca Buonerba
Chief Marketing & Business Development Officer
[email protected]
De Nora media relations
SPRIANO COMMUNICATION
Lorenza Spriano Tel: +39 347 9834881
[email protected]
