LONDON, Jan. 14, 2021 /PRNewswire/ -- Today AFC
Energy (AIM: AFC), a leading provider of hydrogen power
generation technologies, announces the signing of the Company's
first strategic engineering collaboration agreement with Ricardo, a
global leader in the creation of innovative engineering and design
solutions with strong credentials across the transportation and
energy sectors.
The agreement will focus on the joint creation of hydrogen fuel
cell products and service offerings, with an initial focus on three
key areas: marine, rail and stationary power generation. The
collaboration will develop products and services that will directly
support global efforts to decarbonise transport, energy and
critical national infrastructure.
The collaboration will create opportunities for AFC Energy to
grow the number of products that utilise the company's fuel cell
and validate its technical and commercial viability in the growing
global market for hydrogen fuelled power and propulsion
systems.
Both parties will consider the benefits achieved through the use
of low cost, readily available, and high energy dense green ammonia
fuel (rather than hydrogen gas) as a fuel of choice in off-grid or
remote power needs, including international shipping and
distributed power generation.
Adam Bond, Chief Executive of
AFC Energy plc, said:
"The role for AFC Energy's alkaline fuel cell in supporting the
decarbonisation of e-mobility and off-grid power systems through
the use of zero emission fuels such as green ammonia is becoming
ever clearer and relevant.
"We are delighted to be collaborating with one of the world's
leading engineering houses in Ricardo to fully explore new and
innovative ways in which our alkaline fuel cell system can be
deployed across a range of industries where traditional reliance on
combustion of fossil fuels is no longer seen as a viable or
acceptable means of remote power generation. We look forward
to furthering our collaboration with Ricardo in our key markets of
focus, with each providing enormous opportunities in their own
right."
Mike Bell, Group Strategy and
Transformation Director at Ricardo plc, added:
"Ricardo has a world leading pedigree in the energy transition
towards sustainable and green power, working with many of the
world's leading Original Equipment Manufacturers and industrial
partners in pursuit of engineering solutions that support Net Zero
aspirations. We also recognise AFC Energy's specialist
expertise in alkaline fuel cell technology, which has highlighted
the potential for low cost, high efficiency alkaline systems in
off-grid and remote power environments.
"We are very pleased to be collaborating with AFC Energy is
exploring new opportunities for fuel cell deployment across sectors
such as marine and rail where the alkaline technology has the
potential to play a key role decarbonisation and
sustainability."
Following several months of engagement, the two companies have
already jointly submitted proposals to Ricardo clients, addressing
particular client needs pertinent to grid instability and the need
for zero emission alternative power. Further opportunities will be
identified in 2021 for joint collaboration across key
markets.
About AFC Energy plc
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.
Afcenergy.com
About Ricardo plc
Ricardo plc is a global strategic
engineering and environmental consultancy that specialises in the
transport, energy and scarce resources sectors. Ricardo's
work extends across a range of market sectors – including passenger
cars, commercial vehicles, rail, defence, motorsport, energy and
environment – with a client list that includes transport
operators, manufacturers, energy companies, financial institutions
and government agencies. In addition to technical consultancy
services, Ricardo has in-house engineering capabilities that enable
the Company to design and deliver high-quality prototypes and
low-volume manufacturing of complex products and assemblies,
including engines, transmissions, electric motors and generators,
battery packs and fuel cell systems.
Ricardo.com