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AFC Energy PLC expects to follow transformational year with various new fuel cell deployments in 2022

The company said it “is now confident that it affords maximum optionality to its customers in fuelling in a way that no other fuel cell technology can”

AFC Energy PLC (AIM:AFC, OTC:AFGYF) has provided an update for the year to 31 October it described as “transformational”, with the new year expected to the deployment of several new fuel cell systems on the market, including from its new product range.  

The London-listed company said the outlook for 2022 is “very strong”, with recent commercial orders and the certification of its fuel cell systems and crackers for maritime installation making the value of alkaline fuel cell technologies across its various addressable markets “increasingly apparent”.

Recent orders included a £4mln agreement for a 200kW “S” Series fuel cell and ammonia cracker system to partner ABB, the Swiss electrical systems giant, for a high-power EV charging application.

In addition, the company announced that its 1.2MW ammonia-fueled ship propulsion fuel cell system, having been awarded ‘Approval in Principle’ status for its international certification by DNV, has also been selected as part of Norwegian consortium ZeroCoaster for a bulk cargo ship design.

Other notable events included a commercial lease agreement for the supply of fuel cell power systems in 2022 for ground-based charging at a new electric vertical take off-airport at Coventry; an agreement with a leading Saudi Arabian-based diesel generator hire business for an exclusive dealership proposal based on zero-emission generators in the MENA region; and recent talks with Spanish renewable energy and infrastructure company ACCIONA over a new product road map and revised system requirements for fuel cell system deployment.

After the launch of a new Hybrid Fuel Cell platform and updated Anionic Exchange Membrane (AEM) fuel cell system, AFC Energy said it “is now confident that it affords maximum optionality to its customers in fuelling in a way that no other fuel cell technology can”.

“We expect to leverage this ‘fuel flex’ approach to all our commercial partners and customers and believe with this market offering, and the power density we expect to achieve from our “S” Series platforms, that 2022 will see many new opportunities emerge for the company to capitalise on its leading position to displace diesel generators within the next decade.”

Read More: AFC Energy PLC expects to follow transformational year with various new fuel cell deployments in 2022

2021-12-16 03:56:00

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