Business
Strategic Partnership Agreement
Strategic Partnership Agreement.
About this update from H-power Plc
[{"type":"text","content":"\n \nRNS Number : 5273P AFC Energy Plc 19 February 2016 \n\n19 February 2016\n \nAFC Energy PLC\n \n(\"AFC Energy\" or the \"Company\")\n \n \nAFC Energy Signs Strategic Engineering Partnership Agreement with plantIng GmbH \n \n \nAFC Energy (AIM: AFC), the industrial fuel cell power company, is pleased to announce it has signed a strategic engineering partnership and services agreement (the \"Engineering Agreement\") with Germany-based engineering consultancy plantIng GmbH (\"plantIng\") to support the optimisation and rollout of AFC Energy's alkaline fuel cell system. \n \nWith over 300 engineers and technicians, plantlng is already one of the biggest independent provider of engineering projects in the chemical and petrochemical industries in Germany and plantIng has provided engineering support and Engineering Procurement Construction Management (\"EPCM\") services to AFC Energy's POWER-UP project at Stade for over a year. PlantIng therefore has deep knowledge and understanding of AFC Energy's fuel cell technology and to date these joint efforts with AFC Energy have enabled the successful commissioning of the first industrial scale alkaline fuel cell system in Germany last month. \n \nThe Engineering Agreement includes a significant investment by plantIng of their time and resources in supporting AFC Energy in addressing the identified deployment opportunities that exist in Germany, Europe and internationally. Under the agreement, plantIng is incentivised to drive further project development opportunities for AFC Energy's fuel cell system amongst its existing and prospective client base, further leveraging the potential partnering opportunities for the two companies and providing a faster commercial rollout of AFC Energy's fuel cell systems.\n \nFor AFC Energy, the Engineering Agreement will allow the Company to concentrate in the short term on the further commercial refinement of its alkaline fuel cell technology, while utilising the resources and experience of plantIng to refine the fuel cell Balance of Plant (\"BoP\") of varying sizes and the associated plant infrastructure design for future commercial fuel cell plant projects. PlantIng has also agreed to provide engineering support services on several feasibility studies for commercial fuel cell projects curre...