AFC Energy Plc Agreement with Peel Environmental (4813Q)
November 30 2016 - 2:00AM
UK Regulatory
TIDMAFC
RNS Number : 4813Q
AFC Energy Plc
30 November 2016
30 November 2016
AFC Energy PLC
("AFC Energy" or the "Company")
AFC Energy Enters Agreement with Peel Environmental for
Assessment of UK's Largest Hydrogen Fuel Cell Precinct
AFC Energy (AIM: AFC), the industrial fuel cell power company,
is pleased to announce it has signed an agreement with Peel
Environmental Limited ("Peel") to assess the techno-economic
feasibility of the UK's largest hydrogen fuel cell precinct at
Peel's Protos industrial park.
Protos is located between Manchester, Liverpool and Chester and
will deliver 250 hectares of industrial development in the North
West of England. It represents a strategic cluster of businesses
encompassing energy intensive industries with associated supply
chains and importantly, reflects Peel's vision for an energy
generation hub that provides secure, low carbon and low cost energy
generation to its onsite facilities.
AFC Energy will conduct the assessment in collaboration with
Peel and other third party partners to review a range of hydrogen
sources and offtake arrangements and work with local stakeholders
that will see a proposed phasing of fuel cell projects at Protos
commencing at 1MW through to an estimated 35MW to 50MW of installed
capacity at the site.
The installation of a fuel cell project of the scale proposed
could see a range of new investment and potential employment
creation opportunities consistent with the UK Government's Northern
Powerhouse initiative. The Northern Powerhouse has been recognised
by the UK Government for several years as a major player in the
country's energy sector. The focus on low carbon generation
technologies clearly identifies the region as a national hub for
nuclear power, onshore and offshore wind, biomass and associated
supply chains. The integration of hydrogen fuel cells into the
regional energy mix creates further opportunities for
decarbonisation of the national power sector and utilises surplus
hydrogen available in the area to generate clean energy on a long
term basis.
A positive outcome from the techno-economic assessment for the
development of a 35MW to 50MW fuel cell project at Peel's Protos
site could see the development of the UK's largest stationary fuel
cell project and one of the largest in the world, confirming a
growing transition towards a hydrogen based economy, and thereby
positioning Protos and AFC Energy at the forefront of this
movement.
The feasibility study will be conducted over several months into
2017.
Myles Kitcher, Managing Director of Peel Environmental and
Protos, said:
"We are delighted to partner with AFC Energy in investigating
the feasibility of this commercial scale hydrogen fuel cell
techno-economic feasibility study, working towards a fuel cell
project of scale. AFC's hydrogen fuel cell precinct study will
complement the existing low carbon energy generation technologies
on site at Protos. This type of technology demonstration at Protos,
exemplifies the industrial strategy which the UK government is
promoting. A successful hydrogen fuel cell project of this scale
will be a first for the UK and we hope to be able to support more
new technologies in the future to provide regional economic growth
and competitive low carbon domestic energy.
Mr Adam Bond, AFC Energy's Chief Executive Officer, said: "AFC
Energy is proud to be collaborating with Peel Land & Property
Group. This techno-economic feasibility study will see a proposed
phasing of fuel cell projects at Protos commencing at 1MW through
to an estimated 35MW to 50MW of installed capacity at the site,
delivering the first phase of an industrial fuel cell power
company. Following recent advances in the development of the AFC
Energy fuel cell, the Board now believe the Company is well
positioned to capitalise on these project deployment opportunities
and hope to make further such announcements in the near future.
Protos will provide the ideal opportunity for a scaled and
commercial hydrogen fuel cell facility that will play an important
part in the long term and sustainable powering of the UK's Northern
Powerhouse. I'm confident that with the mix of skills and
capabilities of AFC and Protos, we will deliver a world class
innovative fuel cell project right here in the UK".
For further information, please contact:
AFC Energy plc
Adam Bond (Chief Executive Officer) +44 (0) 20 3697 1209
Cantor Fitzgerald Europe - Nominated Adviser and Joint Broker
Andrew Craig
Richard Salmond +44 (0) 20 7894 7000
M C Peat & Co LLP - Joint Broker
Charlie Peat +44 (0) 20 7104 2334
Lionsgate Communications - Public Relations
Jonathan Charles +44 (0) 20 3697 1209
The 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 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
About AFC Energy
AFC Energy plc has developed and successfully demonstrated an
alkaline fuel cell system ("KORE"), which converts hydrogen into
"clean" electricity. AFC Energy's key project POWER-UP demonstrated
the world's largest operational alkaline fuel cell system at Air
Products' industrial gas plant in Stade, Germany, in January 2016.
The Company is now looking to build upon an already established
pipeline of commercial opportunities and drive the findings from
the development phase of the technology into a technically
optimised and commercially relevant fuel cell system. For further
information, please visit our website: www.afcenergy.com
About Peel Land & Property Group and Peel Environmental
Peel Land and Property lies at the heart of The Peel Group, one
of the foremost real estate, infrastructure and transport
investment enterprises in the UK. The Group's specialist
development teams have a proven track record in delivering high
quality sustainable projects.
Peel Environmental is part of Peel Land and Property, which owns
and develops land for the purposes of, amongst other things, clean
energy and waste infrastructure projects. It has achieved consent
for a range of energy infrastructure schemes including a 21MW
Energy from Waste plant and 250,000tpa Anaerobic Digestion and
Materials Recovery Facility in Glasgow; a 26MW Energy from Waste at
Kellingley Colliery, Yorkshire, and a 20MW Timber Resource Recovery
facility at Houghton Main, Barnsley. Peel works with investors,
waste management companies, technology providers and contractors to
secure a deliverable business model for each project. Peel
Environmental brought forward and consented the Protos development,
previously known as Ince Resource Recovery Park. The 51ha (126
acres) development site has full outline planning consent and part
detailed planning consent for general manufacturing and
distribution uses, as well as a biomass facility and an Energy from
Waste facility. Further information about the site can be found at
www.thisisprotos.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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