REG - AFC Energy Plc - Kier Pioneers Zero Emission Hydrogen Fuel Cell

AFC EnergyAnnouncement

20/06/2022 07:00

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RNS Number : 3810P  AFC Energy Plc  20 June 2022

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Monday 20 June 2022

 

AFC Energy PLC

("AFC Energy" or the "Company")

 

Kier Pioneers Zero Emission Hydrogen Fuel Cell System for UK Construction
Site

 

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation
technologies, is pleased to announce its partnership with Kier Group plc
("Kier") for the initial lease of its new Power Tower clean Hydrogen power
generator units for deployment to a UK construction site.

 

Kier is a leading provider of infrastructure services and construction, whose
purpose is to sustainably deliver infrastructure which is vital to the
UK.

 

Highlights

 

·       Kier to lease an initial Power Tower set for deployment on an
active UK construction site in the second half of 2022.

 

·       AFC Energy will source and supply Hydrogen fuel to site on
commercial terms, where Kier will operate the system.

·       The Power Tower will power onsite cabins and is the first
hydrogen fuel cell deployment undertaken by Kier.

 

·       AFC Energy's Power Tower is uniquely suited to construction
site usage due to the logistical flexibility afforded by its zero emission
Hybrid Fuel Cell ("HFC") technology.

 

·    The lease will provide a basis for a longer-term collaboration with
the aim of delivering additional fuel cell systems in 2023.

 

Kier has a carbon reduction target to reach Net Zero by 2045, for both
business operations and value chain carbon and this includes the transition
away from on-site fossil fuel power generators.

 

Kier and AFC Energy are today announcing a partnership that will see a clean
Hydrogen power generator unit, utilising AFC Energy's new Hybrid Fuel Cell
("HFC") technology, being deployed at a Kier construction site in the South
West.  The zero emission HFC generators will offset power currently provided
by diesel generators, reducing the overall carbon footprint of the Kier
site.

 

The decision to lease AFC Energy's system is driven not only by a desire to
show immediate leadership in the decarbonisation of UK construction sites and
improve air quality around urban construction sites, but also as a consequence
of rising and uncertain diesel costs with geopolitical events impacting fossil
fuel prices across the world.

 

AFC Energy has agreed to source and supply Hydrogen to Kier on commercial
terms with support provided to Kier to operate the system on a day-to-day
basis.  The agreement also sets an opportunity for the two companies to
explore a longer-term commercial partnership across multiple UK sites with
potential deployment of additional fuel cell systems in 2023.

 

This deployment of AFC Energy's next generation HFC system continues to
highlight the growing and immediate need for construction and temporary power
operators displace diesel generators with zero emission power systems as part
of a portfolio approach to industry's decarbonisation.

 

Chris Lilley, health, safety, wellbeing and sustainability director at Kier
Group, said:

 

"This upcoming trial further demonstrates our commitment to sustainability and
finding innovative solutions that will reduce our carbon footprint and help
our clients and customers deliver against their targets too.

 

"To meet our net zero carbon targets outlined in our Building for a
Sustainable World framework, it's crucial that we continue to work with
credible supply chain partners and trial new innovations. Following on from
the trial in the South West, we will assess other sites that we can use the
Power Tower on."

 

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

 

"We are delighted to be partnering with Kier in support of their
decarbonisation initiatives here in the UK through deployment of our hydrogen
fuel cell technology. Contractors and plant hire businesses are under
increasing pressure to reduce greenhouse emissions and improve air quality; we
are confident that our hydrogen fuel cells will play an important role in
delivering a Net Zero UK construction 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)

 Ben Bradshaw (Head of Marketing)
 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.

 

 

About Kier Group plc

Kier is a leading UK infrastructure services and construction group.  We
provide specialist design and build capabilities and the knowledge, skills and
intellectual capital of our people ensure we are able to project manage and
integrate all aspects of a project.

 

 

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