26 June 2019
AFC Energy PLC
("AFC Energy" or the "Company")
AFC Energy Signs Mass Manufacturing Agreement with Advanced Plastics for Fuel Cell Flow Plates
AFC Energy (AIM: AFC), the leading alkaline fuel cell power company, is pleased to announce the signing of a manufacturing framework agreement with UK based Advanced Plastics Ltd for the manufacture and delivery of flow plates for use within the Company's proprietary hydrogen fuel cell system ("the Agreement").
Execution of the Agreement follows the announcement of Advanced Plastics as Preferred Bidder on 19 March 2019 and signals a substantive progression towards the deployment readiness of the AFC Energy's Hydrogen Power generation system.
Advanced Plastics will be responsible for the procurement of industrial moulding tools for the flow plate manufacture, which are expected to be procured under the Agreement over the next few weeks. The industrial moulding tools, once received, will enable AFC Energy to commence the ordering of flow plates for system deployment.
The simplified flow plate construct, as designed by AFC Energy, entails a more detailed state of the art design basis and more robust, modelled and tested construct than before. This latest generation flow plate to be produced by Advanced Plastics will form a key performance enhancing component of the Company's product range across its key stationary market applications, including the growth markets of EV charging and diesel genset displacement.
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 David Foreman Richard Salmond |
+44 (0) 20 7894 7000 |
M C Peat & Co LLP - Joint Broker Charlie Peat |
+44 (0) 20 7104 2334 |
TUVA Partners - Public Relations James Kennedy |
+44 (0) 7809 495 759 |
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About AFC Energy
AFC Energy plc is commercialising a scalable alkaline fuel cell system, to provide clean electricity for on and off grid applications. The state-of-the-art technology, pioneered over the past twelve years in the UK, is designed to address key target markets in electric vehicle charging, stationary off grid diesel generation displacement, energy storage and across large petrochemical facilities where by-product hydrogen is surplus to requirements.
