First Factory Acceptance Test of 30kW Generator

AFC Energy Plc

11 March 2024

 

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.

11 March 2024

AFC Energy PLC

("AFC Energy" or the "Company")

First Factory Acceptance Test of 30kW H-Power Generator    

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, is pleased to announce the successful Factory Acceptance Test ("FAT") of its first state-of-the-art 30kW H-Power Generator.

The Company's first 30kW generator has satisfied all contractual tests and requirements of the FAT under its contractual agreements with partner, Speedy Hire Plc ("Speedy"), the UK's leading tools and equipment hire services company. Successfully completing the FAT confirms that the zero-emission generator is now ready for sale to Speedy Hydrogen Solutions, our dedicated hydrogen powered generator joint venture. Subsequent generators are currently in assembly.   

Since the establishment of the joint venture, there has been strong interest confirmed from Speedy's customers with a growing pipeline established. Additionally, we've had several site visits from Speedy's national customers to AFC Energy's head office in recent weeks to introduce our fuel cell technology and product range.  The first exhibition of the new 30kW H-Power Generator will be at Speedy's Live Expo on the 20^th and 21^st of March 2024. 

Adam Bond, Chief Executive at AFC Energy, said: 

"This is a major milestone in the delivery of AFC Energy's first H-Power Generator to Speedy Hydrogen Solutions.  We continue to see growth in demand for our hydrogen power generators across the UK and Ireland in partnership with Speedy, as industry continues to transition away from diesel and strive towards decarbonising operations for a more sustainable future".     

For further information, please contact:

AFC Energy plc Adam Bond (Chief Executive Officer)  [phone] [e-mail] Peel Hunt LLP - Nominated Adviser and Joint Broker Richard Crichton / Tom Ballard / Georgia Langoulant [phone] Zeus - Joint Broker David Foreman / James Hornigold (Investment Banking) Dominic King (Corporate Broking) / Rupert Woolfenden (Sales) [phone] RBC Capital Markets - Joint Broker Matthew Coakes / Teri Su Eduardo Famini / Jack Wood FTI Consulting - Financial PR Advisors Ben Brewerton / Tilly Abraham / Evie Taylor [phone] [phone] [e-mail]

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.

 

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