RCS - AFC Energy Plc - TAMGO Orders First H-Power System  

AFC EnergyAnnouncement

04/11/2024 07:15

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RNS Number : 7826K  AFC Energy Plc  04 November 2024

 

4 November 2024

 

AFC Energy PLC

("AFC Energy" or the "Company")

 

TAMGO Orders First 45kVA H-Power System

 

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation
technologies, is pleased to announce an agreement to deploy the first 45kVA
H-Power System into Saudi Arabia with its exclusive distributor The Machinery
Group LLC, trading as TAMGO (www.tamgo.com (http://www.tamgo.com) ).

 

The 45kVA H-Power System comprises AFC Energy's latest generation S Series
30kW fuel cell generator ("S30"), a harmonized 45kWh battery energy storage
system ("BESS"), and a hydrogen pressure reduction station ("PRS").  This
first 45kVA H-Power System will be used to complete operational localisation
of the unit for usage in Saudi Arabia and to subsequently undertake piloting
programs as part of TAMGO's work with its wide portfolio of customers adopting
zero emission generators in the region.

 

Rami Elayan, Chief Executive, TAMGO, said:

 

"TAMGO is delighted to order its first 45kVA H-Power System and this step
marks significant progress in our exclusive distributorship and the adoption
and deployment of AFC Energy's zero emission H-Power Generator Systems within
the Saudi Arabian and broader regional markets.

 

Zahid Group is fully aligned with the Kingdom's forward-looking vision, and
across all our Group's companies we are acting on that alignment with concrete
actions."

 

Gary Bullard, Chief Executive at AFC Energy, said:

 

"We are very pleased to see the progress that TAMGO has made within the Saudi
Arabian and neighbouring markets and are excited to deploy our first unit to
TAMGO for localisation and operation within the region.  This deployment is a
significant step in our exclusive distributorship with TAMGO, marking a key
milestone in unlocking further opportunities within the region aligned with
Saudi Arabia's sustainability commitments under the Kingdom's Vision 2030 and
realizing our shared vision to become the largest provider of hydrogen fuel
cell generators in the Saudi and MENA regions."

 

For further information, please contact:

 

 AFC Energy plc                                                 +44 (0) 14 8327 6726

 Gary Bullard (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 / Brian Hanratty / Georgia Langoulant
 Zeus - Joint Broker                                            +44 (0) 203 829 5000

 David Foreman / James Hornigold (Investment Banking)

 Dominic King (Corporate Broking) / Rupert Woolfenden (Sales)

 RBC Capital Markets - Joint Broker                             +44 (0) 20 7653 4000

 Matthew Coakes / Teri Su

 Eduardo Famini / Jack Wood

 FTI Consulting - Financial PR Advisors                         +44 (0) 203 727 1000

 Ben Brewerton / Chris Laing / Evie Taylor                      afcenergy@fticonsulting.com (mailto:afcenergy@fticonsulting.com)

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 through its H-Power range of products which
can be used in off-grid, temporary, and backup power systems with use cases
that include electric vehicle charging, construction, shore power in maritime,
and data centres as part of a portfolio approach to the decarbonisation of
society's growing electrification needs.

 

The Company's proprietary ammonia cracking technology further highlights
emerging opportunities across the distributed hydrogen production market with
a focus on hydrogen's role in supporting industries facing challenges in
decarbonisation, such as mining, cement and heavy engineering.

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