REG - AFC Energy Plc - ACCIONA Orders First 50kVA H-Power Generator

AFC EnergyAnnouncement

19/04/2023 07:00

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RNS Number : 6680W  AFC Energy Plc  19 April 2023

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19 April 2023

 

 

AFC Energy PLC

("AFC Energy" or the "Company")

 

ACCIONA Orders First 50kVA H-Power Generator

 

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation
technologies, is pleased to confirm ACCIONA's first order of an H-Power "S"
Series 50kVA hydrogen powered generator for delivery in Spain during the
second half of 2023.

 

Highlights

 

·      New 50kVA H-Power Generator designed for heavy duty construction
and temporary power market.

·      ACCIONA to rent the system for a period of six months with an
option to purchase or extend.

·      The generator will comprise a 30kW AFC Energy air cooled fuel
cell and 45kWh battery storage system.

·      Zero emission H-Power Generator Series is a step towards
displacing ACCIONA's incumbent internal fleet of 30 - 80 kVA diesel
generators.

·      The new 30kW "S" Series fuel cell will be housed within AFC
Energy's new "generator canopy".

·      The 50kVA system will see significant cost reductions on a per kW
basis versus the first H-Power Tower.

·      The H-Power S Series 50kVA genset delivers 400% power versus the
original H-Power Tower.

·      H-Power Generator Series targets a significant proportion of the
existing diesel generator fleet and is in a "sweet spot" for mass deployment.

 

ACCIONA hosted AFC Energy's first H-Power Tower field deployment over the
summer of 2022.  During the 13-week deployment, customer feedback was
captured and reflected in the next product within the Company's fuel cell
portfolio, being a 30kW fuel cell generator.

The generator will operate harmonized with a battery storage system giving a
total 50kVA output (measured against existing ISO standards for diesel
generators) and is specifically designed for heavy duty construction sites.

The 30kW fuel cell platform will house 12 x 2.5kW air cooled "S" Series fuel
cell systems and produce a high voltage DC output, resulting in a material
cost reduction  relative to the original Power Tower configuration.

ACCIONA has agreed to lease the 50kVA H-Power S Series generator for a period
of six months following which it will have an option to purchase the system at
a pre-agreed price or further extend the lease.

AFC Energy will procure and operationally integrate a battery storage system
capable of accepting DC power feed for interface with the end customer's power
needs.  The battery is expected to be sized at or around 45kWh.

 

Miguel Paris Torres, Head of Area at ACCIONA's Construction R&D Centre,
said:

"Our partnership with AFC Energy is very valuable for ACCIONA and through our
collaborative approach to system design and development, we are confident the
Company's new 50kVA generator set will have wide reaching adoption across the
construction industry.  The system's modularity, scalability and compactness
make this an ideal platform to displace diesel generators from our
construction sites in the near term, helping us to achieve our decarbonization
target for our construction activities, and we look forward to taking
possession of our first system later this year."

 

 

 

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

"ACCIONA is a key relationship for AFC Energy and has provided support to us
in defining the "voice of the customer" in a way that has informed the design
specification and operation of our new 50kVA H-Power S Series emissions-free
genset.  Decarbonisation of the construction industry, in the UK, Europe and
internationally is an important step in society's move towards Net Zero.
This development highlights the importance that leadership from companies like
ACCIONA, acting in partnership with AFC Energy, play in driving long term
sustainable change across this industry."

 

 

 

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 / Georgia Langoulant
 Zeus - Joint Broker                                            +44 (0) 203 829 5000

 David Foreman / James Hornigold (Investment Banking)

 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 "flex fuel" 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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