The agreement is its first strategic collaboration with a global original equipment maker (OEM) if the scale of ABB, said AFC
The non-exclusive agreement will see the two companies work together to develop a bespoke high power EV charger that will be sold through ABB’s market channels from the second half of 2021.
AFC said it will supply its hydrogen fuel cell technology with ABB providing the energy storage know-how and market-leading DC high power EV charge points.
ABB has already established a sales and distribution network and has sold 17,000 units in 80 countries since it entered the market in 2010, AFC noted.
The AIM-listed company added that this agreement is its first strategic collaboration with a global original equipment maker (OEM) such as ABB.
Under the agreement, the company has a Right of First Refusal to supply H-Power fuel cell systems into ABB’s high power EV charging network of international customers when a new system is required.
EV charging is expected to see huge growth in coming years with the mass adoption of electricity-powered cars, buses, ships and even possibly aircraft.
Forecasts are for a global annual market of US$130bn by 2030 with the UK market alone estimated to be worth £50bn.
In a statement, Adam Bond, AFC Energy’s chief executive, said: “Today marks a historic milestone in the commercialisation of our proprietary hydrogen fuel cell as we commence a long-term relationship with ABB.
“As one of the world’s leading suppliers of rapid EV charging infrastructure, this strategic partnership is fully aligned with AFC Energy’s go to market strategy with ABB providing strong and credible access to key customer channels both in Europe and overseas”.
Frank Muehlon, ABB’s head of E-mobility Infrastructure, added: “This partnership with AFC Energy allows us to continue to push the boundaries of e-mobility, specifically targeting off-grid applications and thus enabling a much wider reach of e-mobility based on clean energy.”
Read More: AFC Energy PLC teams up with ABB to target EV charger market