RCS - AFC Energy Plc - New Product Launch

AFC EnergyAnnouncement

24/03/2022 07:00

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RNS Number : 8083F  AFC Energy Plc  24 March 2022

http://www.rns-pdf.londonstockexchange.com/rns/8083F_1-2022-3-23.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/8083F_1-2022-3-23.pdf)

Reach announcement - non regulatory

24 March 2022

 

AFC Energy PLC

("AFC Energy" or the "Company")

10kW "Power Tower" System Launch

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation
technologies, is pleased to announce the launch of its new 10kW Hydrogen power
generator unit, known as the "Power Tower".

Highlights

 •    AFC Energy launches the Power Tower, an energy dense, highly efficient
      off-grid power solution designed to displace fossil fueled generators.
 •    The Power Tower is a stationary 10kW power generator system designed for
      construction and temporary power applications.
      ○                                         Comprised of four AFC Energy "S" series air cooled fuel cell stacks with
                                                integrated battery storage
 •    Power Towers to be deployed to both ACCIONA and Keltbray for operation by the
      middle of this year
 •    Fuel flex capability across both Hydrogen and Methanol fuels (when integrated
      with a methanol reformer).
 •    High fuel efficiency unit built on the energy dense, solid polymer Hybrid Fuel
      Cell ("HFC") platform.
 •    Modular system capable of running multiple modules in series.

 

As temporary power users, like the construction industry, come under
increasing pressure to reduce emissions, AFC Energy's new Power Tower product
range will accelerate decarbonisation efforts at a time when diesel pricing
pressures are beginning the transition towards a level playing field with AFC
Energy's fuel cell platforms.

 

The 10kW Power Tower offers one of the smallest footprints of any comparable
air-cooled fuel cell technology operating in the market today and has built
in, integrated energy storage able to support customer peak operating loads.

 

The high efficiency system has been designed for modular deployment and ease
of transportation with minimal set up time given the overarching integrated
architecture of the platform.

 

Building on AFC Energy's new HFC "S" Series architecture, the 10kW system is
made up of 4 x 2.5kW air cooled fuel cell stacks, configured in series, which
could be increased to deliver system scale up.

 

Initially operating on Hydrogen fuel, the Power Tower will be integrated later
this year with a Methanol reformer technology to enable a fuel flex approach
to customer's longer term fueling strategy.

 

With its simplified design / balance of plant and significant reduction in
footprint versus the "L" Series platform, the Power Tower can deliver robust
performance in harsh outdoor environments and achieve full power within 30
seconds from start-up, offering ease of use to end customers.

 

The Power Tower design has been configured for high volume manufacturing with
AFC Energy already having established a robust supply chain across all
components with final assembly taking place inhouse at the Company's Dunsfold
Campus.

 

The first Power Tower will be on display at the Company's upcoming Annual
General Meeting on the 7(th) of April 2022 before release to customer sites.

 

Adam Bond, Chief Executive Officer at AFC Energy, said:

"AFC Energy continues to innovate to meet the needs of our customers and
partners as we collectively seek to transition towards a more sustainable
energy future.  The Power Tower offers an energy dense, yet highly efficient
off-grid power solution designed to displace fossil fueled generators and
demonstrates that AFC Energy is not just a global technology company, but also
an innovator in product design and deployment."

For further information, please contact:

 AFC Energy plc                                                 +44 (0) 14 8327 6726

 Adam Bond (Chief Executive Officer)                            investors@afcenergy.com (mailto:investors@afcenergy.com)
 Peel Hunt LLP - Nominated Adviser and Joint Broker             +44 (0) 207 418 8900

 Richard Crichton / Tom Ballard / Alexander Allen
 M C Peat & Co LLP - Joint Broker                               +44 (0) 20 7104 2334

 Charlie Peat
 Zeus Capital Limited - Joint Broker

 Daniel Harris (Corporate Finance)                              +44 (0) 203 829 5000

 Dominic King (Corporate Broking) / Rupert Woolfenden (Sales)
 FTI Consulting - Financial PR Advisors                         +44 (0) 203 727 1000

 Ben Brewerton / Nick Hennis / Dhruv Soni                       afcenergy@fticonsulting.com (mailto:afcenergy@fticonsulting.com)

 

About AFC Energy

AFC Energy plc is commercialising scalable "fuel flexible" fuel cell systems,
to provide clean electricity for on and off grid applications. The technology,
pioneered over the past twelve years in the UK, is now deployable in electric
vehicle chargers, off-grid decentralised power systems and data centre
applications with emerging opportunities across maritime and rail as part of a
portfolio approach to the decarbonisation of local electricity needs.

 

 

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