AFC Energy makes progress with Speedy Hire JV; receives first commercial order
–News Direct–
AFC Energy PLC (AIM:AFC, OTC:AFGYF) CEO Adam Bond tells Proactive's Stephen Gunnion that good progress has been made with its Speedy Hydrogen Solutions (SHS) joint venture with Speedy Hire.
Bond said the collaboration has led to the company receiving its first commercial order valued at approximately 2 million for fuel cell generators. The company has successfully completed factory acceptance testing for 12 fuel cell stacks and is in the final stages of testing the generator as a whole. This process is critical to meeting contractual obligations with Speedy Hire.
Additionally, he said AFC Energy has seen significant market interest, hosting tier-one construction groups, including a visit from Balfour Beatty, and engaging in discussions about potential projects. Internationally, AFC Energy has attracted attention, particularly from the Middle East, continuing to work with Saudi Arabian company Tamgo under an exclusive dealership agreement.
Bond also discussed funding awarded under the Clean Maritime Demonstration Competition, earmarked for integrating its ammonia cracker technology with combustion engines in maritime applications. This novel approach aims to support the maritime industry's transition to cleaner energy sources.
The company is working towards a feasibility study to demonstrate the integration of its ammonia cracker with a combustion engine, anticipated to conclude by year-end.
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AFC Energy PLC
COMTEX_448071020/2655/2024-02-20T06:57:34
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