REG - AFC Energy Plc - Mace Dragados to lease AFC Power Tower for UK site

AFC EnergyAnnouncement

11/07/2022 07:00

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RNS Number : 9210R  AFC Energy Plc  11 July 2022

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11 July 2022

AFC Energy PLC

("AFC Energy" or the "Company")

 

Mace Dragados Set to Adopt Hydrogen Fueled Power Tower on UK Construction Site

 

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation
technologies, is pleased to announce an agreement has been reached for the
deployment of a further Power Tower fuel cell generator system in support of
the decarbonisation of a London based construction site.

 

The Power Tower hydrogen power generator will be leased to the Mace Dragados
Joint Venture ("Mace Dragados") for deployment at a high-profile UK
infrastructure project during the second half of 2022.  The project client
will provide full details of the deployment in due course.

 

This agreement is the basis for a longer-term collaboration to support Mace
Dragados' sustainability aspirations through adoption of zero emission energy
where grid supply is constrained.

 

AFC Energy's series of lease agreements with UK and international construction
companies validates the role hydrogen is set to play in the decarbonisation of
industry and is the first phase towards establishing more traditional models
of selling units to plant hire companies and creating a critical mass of
large-scale fuel cell system deployment.

 

 

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

 

"Our new Power Towers represent a significant step forward in hydrogen fuel
cell technology. We are now working with a number of UK and European
construction companies and are accelerating progress towards establishing a
critical mass of large-scale deployment across these regions to enable the
construction sector and other temporary power operators to transition away
from highly pollutant diesel generators."

 

 

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)
                                                                +44 (0) 207 418 8900

 Peel Hunt LLP - Nominated Adviser and Joint Broker

 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                            +44 (0) 203 829 5000

 Daniel Harris / James Hornigold (Investment Banking)

 Dominic King (Corporate Broking) / Rupert Woolfenden (Sales)
                                                                +44 (0) 203 727 1000

 FTI Consulting - Financial PR Advisors                         afcenergy@fticonsulting.com (mailto:afcenergy@fticonsulting.com)

 Ben Brewerton / Nick Hennis / Dhruv Soni

 

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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