Business
Power Up and Trading Update
Power Up and Trading Update.
About this update from H-power Plc
[{"type":"text","content":"\n \nRNS Number : 2981S AFC Energy Plc 06 November 2013 \n \n\n6 November 2013\n \nAFC Energy PLC\n(\"AFC Energy\" or \"AFC\" or \"the Company\")\n \nAir Products joins Power Up project \nTrading and Operational Update\n \nAFC Energy (AIM: AFC), the fuel cell energy developer for industry, is pleased to announce that Air Products PLC (\"Air Products\") has agreed to become a key strategic partner within the Power Up programme, the Company's leading project to generate and supply electricity by using surplus hydrogen produced at a major chemical plant.\n \nAir Products, one of the world's top industrial gases groups, replaces Industrial Chemicals Limited, the Essex-based chemicals manufacturer, which had planned to participate in the €6.1 million EU-backed project, as announced by AFC Energy in June 2012. The project will install one of the world's largest alkaline fuel cell power systems. \n \nAs a result of the partnership with Air Products, the project will now be sited in Stade, northern Germany, where Air Products operates a major industrial gas processing plant that sources hydrogen from an adjoining major chemicals complex operated by Dow Chemicals. \n \nThe Company commenced its work on the Power Up project in April 2013 and remains on track to install the first KORE system in Germany during 2014 with it expected to become operational in the second half subject to local permitting. AFC will initially install two fuel cell systems in stages with a total 500kW electrical output.\n \nThis first system will be capable of running with 24 cartridges, expected to generate approaching 250kW when it reaches full power.\n \nIan Williamson, Chief Executive of AFC Energy, said: \"The decision to move the project to Air Products provides us with the best possible opportunity to install and operate our KORE-branded fuel cell plant at a world-class industrial chemical/gases complex. It will also provide us with access and visibility to a significant quantity of clean hydrogen in a fully commercial setting. With our existing long term project with AkzoNobel continuing at Bitterfeld, Germany, we will soon have two installations in one of the world's most exciting and strongly government-supported markets for fuel cell energy.\" \n \n \nTrading Update \n \nAFC has con...