TIDMAFC
RNS Number : 5170X
AFC Energy Plc
01 September 2020
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
01 September 2020
AFC Energy PLC
("AFC Energy" or the "Company")
AFC Energy Awarded Contract for Sale of H-Power(TM) System to
Jülich as part of German Hydrogen Showcase
AFC Energy (AIM: AFC), a leading provider of hydrogen power
generation technologies, is pleased to confirm the sale of a
bespoke 100kW H-Power(TM) alkaline fuel cell system to
Forschungszentrum Jülich ("Jülich") for deployment at its Living
Lab Energy Campus ("LLEC") showcase in Germany.
Highlights
-- Jülich is one of Europe's largest and most prestigious
interdisciplinary research institutions.
-- In collaboration with leading German and global partners,
Jülich is developing Europe's first "Living Lab Energy Campus"
("LLEC").
-- The LLEC will provide a blueprint for sustainable,
decentralised and integrated smart infrastructure with an emphasis
on cutting-edge renewable and Hydrogen technologies.
-- Having reviewed best available technologies in the market
today, Jülich has now selected AFC Energy for the provision of a
100kWe stationary alkaline fuel cell system for inclusion in the
LLEC.
-- Higher tolerance to lower grade, and therefore lower cost
Hydrogen, was a key driver for AFC Energy's selection.
-- The initial transaction value also comes with additional
trailing payments receivable under a Long Term Services Agreement
("LTSA") over the project's life.
-- Together with engineering support services supplied by AFC
Energy, the H-Power(TM) system is currently scheduled for delivery
and commissioning in Germany in Quarter 3 2021.
-- AFC Energy's selection confirms the growing role zero
emission stationary fuel cell systems will play in the
decarbonisation of the modern distributed energy system.
-- Predominantly funded by the German Government, the LLEC
further highlights Germany's EUR9bn commitment to the Hydrogen
sector announced in June 2020.
The German Government's National Hydrogen Strategy, launched in
June 2020, highlights the key role Hydrogen is expected to play in
the full decarbonisation of the country's energy market. With over
EUR9bn of new investment planned for the sector, Germany's
expectation of becoming a global leader in the field has seen an
immediate growth in opportunities for technologies that support
this brief, to commence delivery of the Government's aspiration
that sees Hydrogen as a fundamental enabler to the transition away
from an emissions based energy sector to a net zero sustainable
industrialised economy.
In this context, Jülich, as a member institute of Germany's
renowned Helmholtz Association of Research Institutes, has devised
a European first Living Lab Energy Campus at its site in Western
Germany to articulate a blueprint for the design of smart
technology based, sustainable energy systems for distributed
microgrid applications.
Microgrids and "Smart Cities" are seen by many of the world's
largest energy system operators and original equipment
manufacturers (OEMs) as the cornerstone of the world's transition
away from large, high cost, centralised energy generation models,
and therefore, establishing the role of Hydrogen within this
architecture is an important objective of Jülich's high profile
initiative.
The LLEC will integrate, across a new "Smart" IT platform an
integrated operation of renewable energies with technologies from
the Hydrogen sector (generation, storage and power generation) to
offer real time analysis into novel energy supply and control
strategies for deployment across future Smart Cities.
Following in-depth technical discussions with Forschungszentrum
Jülich, AFC Energy has been working with Jülich to engineer a
bespoke, 100kWe H-Power(TM) fuel cell system designed to meet a
number of predefined operational specifications for the LLEC
located in Germany.
Having now validated a number of H-Power's operational
performance specifications against Jülich's metrics, AFC Energy is
today pleased to confirm it has been selected to supply a fuel cell
system to the LLEC for deployment and commissioning in Quarter 3
2021.
With considerable knowledge and expertise of fuel cell and
electrolysis technologies, AFC Energy was selected by Jülich
principally due to the higher tolerance of its alkaline fuel cell
technology to a range of contaminants, including such compositions
as can be typically found in Liquid Organic Hydrogen Carrier
("LOHC") solutions which are expected to be utilised within the
LLEC.
Initial operation of AFC Energy's 100kWe alkaline fuel cell unit
at the LLEC will be fuelled with hydrogen derived via electrolysis
(powered by renewables). In due course, Jülich's intent is to fuel
the H-Power system with hydrogen stored and released locally via a
LOHC system.
Jülich will own and operate the 100kWe fuel cell system with
engineering support services provided by AFC Energy to commission
and train local operators on the system.
The transaction value, reflecting a sale of the H-Power(TM)
balance of plant and gas distribution infrastructure, also comes
with a Long Term Services Agreement ("LTSA") to account for
periodic electrode replacement over the project's life.
Martin Müller, LLEC Team Manager "Hydrogen Production " (IEK-14)
, said "Having evaluated AFC Energy's alkaline fuel cell technology
for several months, we are now pleased to be placing an order for a
100 kWe alkaline fuel cell unit for delivery as an integral part of
our Living Lab Energy Campus. This project will support the
furtherance of Germany's Energy Transition via a more efficient
utilisation of hydrogen and also demonstrate innovative hybrid
solutions for Power-to-Gas and Gas-to-Power applications. We are
looking forward to working together with AFC Energy on this
showcase project."
Adam Bond, Chief Executive Officer at AFC Energy, said "AFC
Energy are pleased to be working alongside Jülich in delivering
Europe's leading energy hub devoted entirely to the transition
towards a more sustainable distributed energy system - a system
whose blueprint can be deployed across any number of Smart Cities
around the world. We have long seen a role for the Company's
alkaline fuel cell technology in supporting distributed microgrids
in Europe and internationally and with the recent strong leadership
shown by the German Government in this field, we welcome the
opportunity to be part of such a high profile international
showcase alongside several of Germany's leading technology and
research institutes."
For further information, please contact:
AFC Energy plc
Adam Bond (Chief Executive Officer) +44 (0) 14 8327 6726
WH Ireland - Nominated Adviser and Joint Broker
M ike Coe (Corporate Finance)
Jasper Berry (Corporate Broking) +44 (0) 117 945 3470
M C Peat & Co LLP - Joint Broker
Charlie Peat +44 (0) 20 7104 2334
Tuva Partners - Public Relations
Alex Brooks +44 (0) 79 00 205 460
About AFC Energy
AFC Energy plc is commercialising a scalable alkaline fuel cell
system, 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 industrial gas plants as part of a
portfolio approach to the decarbonisation of local electricity
needs.
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