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AFC Energy Plc

03 October 2022

3 October 2022

AFC Energy PLC

("AFC Energy" or the "Company")

ACCIONA Power Tower Deployment

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, is pleased to provide an update on the status of the Company's fuel cell field deployment in Spain with partner, Construcción Acciona ("ACCIONA") .

Highlights

-- First "S" Series Power Tower successfully deployed in mid-August with partner ACCIONA in Spain.

-- The Power Tower has now fully replaced diesel generators at the road construction site north of Cadiz.

-- Independent validation by ACCIONA confirms more than 400kWhs of zero emission power has been generated since mid-August 2022.

-- Completed 300 hours of operation to date with an avoided 1.8m tonnes of CO2 from entering the atmosphere (versus diesel).

-- Delivered effective "load following" to meet the variable power needs of the construction site.

-- Operational experience has identified further system cost reduction potential and improved operational robustness and reliability.

-- Operated in a wide range of operating conditions demonstrating the capability of the "S" Series Fuel Cells.

-- Confirmed by ACCIONA as one of the first times such zero emission hydrogen technology has been deployed on a European construction site.

   --      Product built and commissioned at AFC Energy's newly refurbished Surrey facility.

Adam Bond, Chief Executive Officer at AFC Energy, said: "Our focus on the decarbonisation of the global construction and temporary power markets is critical if we are to deliver on our sustainability targets and mitigate the long term effects of climate change. Working with partners such as ACCIONA, we continue to highlight the role hydrogen is playing in meeting our targets. ACCIONA is at the vanguard of efforts to decarbonise the construction site and we are thrilled to see their validation of the ongoing success achieved in our first "S" Series fuel cell deployment of the new Power Tower fuel cell series. The Power Tower, configured as a stand-alone or modular, scalable system can deliver zero emission power when needed to support industry's transition away from pollutant diesel generators."

For further information, please contact:

 
 AFC Energy plc                                          +44 (0) 14 8327 6726 
  Adam Bond (Chief Executive Officer)                     investors@afcenergy.com 
 Peel Hunt LLP - Nominated Adviser and Joint 
  Broker 
  Richard Crichton / Tom Ballard / Georgia Langoulant    +44 (0) 20 7418 8900 
 M C Peat & Co LLP - Joint Broker 
  Charlie Peat                                           +44 (0) 20 7104 2334 
 Zeus - Joint Broker 
  Daniel Harris / James Hornigold (Investment 
  Banking 
  Dominic King (Corporate Broking) / Rupert 
  Woolfenden (Sales)                                       +44 (0) 203 829 5000 
 FTI Consulting - Financial PR Advisors                  +44 (0) 203 727 1000 
  Ben Brewerton                                           afcenergy@fticonsulting.com

About AFC Energy

AFC Energy plc is commercialising scalable alkaline 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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