RCS - AFC Energy Plc - “Power Tower EV” Integrating ABB Charging Platform

AFC EnergyAnnouncement

07/04/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220407:nRSG5522Ha&default-theme=true

RNS Number : 5522H  AFC Energy Plc  07 April 2022

7 April 2022

 

AFC Energy PLC

("AFC Energy" or the "Company")

"Power Tower EV" Launch Integrating ABB Charging Platform

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation
technologies, is pleased to announce the launch of its new Hydrogen fueled
"Power Tower EV" integrating for the first time ABB's AC charging solution.
 

Highlights

 •    The "Power Tower EV" is a specially designed variant to the Power Tower
      launched in March 2022 for destination electric vehicle charging.

 •       Building on the energy dense, highly efficient Power Tower off-grid power
      solution, the EV variant model       fully integrates for the first time
      an ABB Terra AC charger solution for reliable vehicle charging capability.

 •    Engineered by AFC Energy's design team, the Power Tower EV can provide
      permanent or temporary installations with clean power where grid-based EV
      charging infrastructure is unavailable.

 •       Further builds on the partnership between AFC Energy and ABB across
      e-mobility applications.

 •       The product will be available for viewing alongside the Power Tower at
      this morning's AGM.

 

The global vehicle market is in the early stages of an aggressive transition
towards electrification.  In the UK alone, Government policy demands all new
vehicles will need to be electric by 2030.  This policy agenda continues to
highlight the challenge drivers face in vehicle charging, with underinvestment
to date in both destination public charge points and in constrained grid
capacity.

 

The Power Tower EV seeks to address a number of these challenges with a
sustainable EV charging solution which can be installed on a temporary or
permanent basis where grid connectivity is not viable.

 

EV charging at weekend festivals, sporting events, concerts or simply to
address temporary influxes of electric vehicles at construction sites or
hotels are examples of use cases for the Power Tower EV.

 

The EV variant to the Power Tower will also be capable of operating on
Hydrogen fuel or Methanol, the later requiring a methanol reformer which AFC
Energy is able to provide on a fully integrated basis later this year.

 

The first Power Tower EV will be on display at the Company's Annual General
Meeting this morning alongside the Power Tower launched last month.

 

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

"The electrification of mobility is a key pillar of today's decarbonisation
agenda and with growing EV adoption, charging infrastructure challenges
continue to highlight the incremental investment to give full effect to this
transition over the short to medium term.  AFC Energy is pleased to bring to
market the "Power Tower EV", our first fully integrated, standalone, modular,
mobile EV charging system utilising best in class charging platforms from our
e-mobility partner, ABB."

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.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAFLFIASLIRIIF