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AFC Energy Extends European Power Market Presence
AFC Energy Extends European Power Market Presence.
About this update from H-power Plc
[{"type":"text","content":"\n \nRNS Number : 4638E AFC Energy Plc 09 May 2017 \n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service (\"RIS\"), this inside information is now considered to be in the public domain.\n \n9 May 2017\n \nAFC Energy PLC\n \n(\"AFC Energy\" or the \"Company\")\n \n \nAFC Energy Extends Presence into European Power Market at the Covestro Industrial Park Brunsbüttel\n \nAFC Energy (AIM: AFC), the industrial fuel cell power company, is pleased to announce it is expanding its position into the German power market following commencement of engineering works for the deployment of an initial 1MW proprietary fuel cell system at the Covestro Industrial Park Brunsbüttel, owned by the Covestro Deutschland AG (\"Covestro\"). \nPreliminary engineering work commenced in Brunsbüttel, Germany, on the 6th April 2017 with representatives from Covestro (formerly Bayer Material Science), plantIng GmbH (\"plantIng\") and AFC Energy present. \nThe engineering work, designed to review whole of system engineering, integration and project costing, is being led by AFC Energy and is framed around the installation of an initial 1MW alkaline fuel cell system at the Brunsbüttel site with hydrogen sourced from Covestro's hydrogen grid. Power generated would be sold into the local power grid under long term power purchase agreements. Proximity of the Company's fuel cell system to the hydrogen source also offers the potential to materially expand the project in due course. \nThis scheme is very much consistent with AFC Energy's focus on partnering with large energy intensive industrial partners to utilise surplus industrial grade hydrogen from localised facilities to generate long term, clean power with a resultant reduction in environmental greenhouse emissions. \nImportantly, work conducted in recent months at AFC Energy to demonstrate acceptance of lower industrial grade hydrogen in the fuel cell, together with the material improvements evidenced in fuel cell longevity, power output and stack design, are all critical to the initiation of this project. It further validates the importance of th...