Business
Southern Oil Refinery Update
Southern Oil Refinery Update.
About this update from H-power Plc
[{"type":"text","content":"\n \nRNS Number : 8025V AFC Energy Plc 26 July 2018 \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 \n \n26 July 2018 \n \nAFC Energy PLC\n \n(\"AFC Energy\" or the \"Company\")\n \n \nSouthern Oil Refinery Update - Receipt of Non-Refundable Deposit\n \nAFC Energy (AIM: AFC), the industrial fuel cell power company, is pleased to confirm receipt of a non-refundable deposit from Southern Oil Refinery Pty Ltd (\"Southern Oil\") as referred to in the Company's announcement of 12 July 2018. \nThe Company will now commence the necessary engineering activities with Southern Oil to confirm the scale and final costing of the AFC Energy fuel cell system to be located in Queensland, Australia. The proceeds from the deposit will be used to fund the conduct of the engineering activities and AFC Energy's associated costs. \nWe expect this initial engineering work to be concluded by late September / early October 2018 following which we will proceed to a confirmed purchase order for the installation of the system which we expect to be fully installed and available for operation and supply of clean energy to the Southern Oil refinery by the end of the first half 2019. \nFurther updates will be made concerning progress of this project in the fourth quarter of 2018.\n \nFor further information, please contact:\n\n\n\nAFC Energy plc\nAdam Bond (Chief Executive Officer)\n \n\n\n \n+44 (0) 20 3697 1209\n\n\n\n\nCantor Fitzgerald Europe - Nominated Adviser and Joint Broker\nDavid Foreman\nRichard Salmond \n \n\n\n \n+44 (0) 20 7894 7000\n\n\n\n\nM C Peat & Co LLP - Joint Broker\nCharlie Peat\n\n\n \n+44 (0) 20 7104 2334\n\n\n\n\n\n\n\n\n\n\n\n\nLionsgate Communications - Public Relations\nJonathan Charles\n\n\n \n+44 (0) 20 3697 1209\n\...