AFC Energy rounds off bumper week with £2mln JV announcement

--News Direct--

AFC Energy PLC (AIM:AFC, OTC:AFGYF) CEO Adam Bond speaks to Thomas Warner from Proactive at the end of a week punctuated by two major announcements from the hydrogen fuel cell technology provider. Bond starts by addressing the news that AFC Energy and Speedy Hire PLC (LSE:SDY) are teaming up to supply hydrogen-powered generators to the UK construction industry.

Through the collaboration, the two companies will form a 50/50 joint venture that will initially purchase 30kW H-Power Generators worth £2mln in aggregate. AFC will supply the hydrogen generators exclusively to the JV for an initial three-year period.

The collaboration comes as the UK government signals its commitment to eliminating diesel generators from construction sites, creating a favourable environment for hydrogen fuel cell technology deployment.

Bond highlights the growing demand for hydrogen-fueled generators and emphasises the potential to penetrate contracts like HS2, which will require hundreds of generators to be replaced in the coming years.

He also addresses the £4.3 million government grant further awarded earlier in the week, which Bond says validates AFC Energy's role in displacing diesel and advancing clean technologies in the market.

He adds that the funds will be directed towards accelerating the development and delivery of AFC Energy's fuel cell generators, including the S series and S+ series.

Contact Details

Proactive UK Ltd

+44 20 7989 0813

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