TIDMAFC
RNS Number : 3213S
AFC Energy Plc
16 March 2021
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
RNS
16 March 2021: 7a.m.
AFC Energy plc
("AFC Energy" or the "Company")
Strategic Partnership with Mace Group for the Construction
Market
AFC Energy (AIM: AFC), a leading provider of hydrogen power
generation technologies, is pleased to announce the signing of its
first UK Strategic Partnership Agreement ("the Agreement") with
leading international consultancy and construction business, Mace
Group ("Mace").
Highlights
-- Mace and AFC Energy will develop long term UK and
international deployment strategies that support a transition from
highly pollutant diesel generators to zero emission hydrogen
generators for construction sites.
-- The partnership is AFC Energy's first UK construction sector
collaboration and supports Mace's ambitious sustainability
commitments contained in its 2026 Business Strategy, including the
removal of diesel generators from its sites by 2026.
-- Multiple flagship sites under Mace's control will be
identified across the UK and in international markets for the
initial leasing of AFC Energy's off-grid, zero emission H-Power(TM)
system from early 2022.
-- The partnership will focus constructor support in driving
incumbent plant hire businesses to invest in sustainable hydrogen
power generator technologies for on-hire to construction sites.
-- Accounting for c. 38% of global energy related emissions[1],
growing government regulation is driving the construction sector
towards a clear and enforced transition away from diesel generator
sets.
Mace is a leading UK based, globally focused construction
contractor known for its innovative approach to business practices
and sustainability. It o perates from five strategic hubs in
Europe, Middle East and North Africa, North America, Sub--Saharan
Africa and Asia Pacific.
Mace recently published (February 2021) its revised
decarbonisation ambitions through its 2026 Business Strategy,
forming part of its vision of a more sustainable built environment.
This strategy commits the company to achieving a 10% year on year
reduction in carbon emissions, including the removal of diesel
generators from its sites by 2026.
Under the Agreement, both Mace and AFC Energy aim to highlight
industry's support in commencing the important transition away from
stationary diesel generators used on construction sites, to more
sustainable hydrogen based technologies.
In summary, the partnership expects to:
-- identify multiple high-profile flagship sites for the
deployment of AFC Energy's fuel cell system, on initial lease
terms, to Mace construction sites across the UK and in
international markets from early 2022;
-- promote the benefits of utilising hydrogen-based fuels with
plant hire companies and Government to help the industry
sustainably move away from diesel in construction;
-- review the different use cases for the adoption of AFC Energy
fuel cell systems across various Mace construction sites in the UK
and overseas where power needs and profiles differ; and
-- highlight a longer-term deployment strategy, alongside plant
hire businesses, in support of widespread adoption of hydrogen
generator technologies as a sustainable alternative power source in
construction.
Currently, the provision of temporary power to construction
sites is provided through the hiring of on-site diesel gensets
through plant hire businesses rather than constructors purchasing
generators directly. For this reason, it is essential in driving
the decarbonisation of the construction industry that a market
based demand for alternative, sustainable on-site generation is
signalled to plant hire businesses to support new investment in
new, clean technologies such as hydrogen fuel cells.
The outcome of this partnership will not only drive new
investment in hydrogen technologies for construction sites and
other temporary power applications, but also establish a defined
business model for widespread deployment that takes into account
current industry considerations including logistics, fuelling
strategies and system operability.
With this initiative, Government and industry will gain
confidence in sustainable off-grid power generation through
hydrogen to support the delivery of corporate and national emission
reduction targets.
It is anticipated that in identifying high profile sites for
system deployment, leasing arrangements between Mace and AFC Energy
will initially be used. However, in due course, more traditional
models of selling hydrogen based generation units to plant hire
companies will create a critical mass of large scale deployment
across the UK and Europe to see a material transition away from
diesel generators for a long term sustainable investment in
sustainable construction.
Adam Bond, Chief Executive Officer at AFC Energy, said:
" A sustainable construction industry and the need for improved
urban air quality is driving growing contractor interest in
transitioning away from diesel generators in meeting today's
temporary power needs. AFC Energy's zero emission, hydrogen fuelled
power generator addresses this growing demand for cleaner
power.
Mace is leading the construction sector's transition away from
diesel to sustainable power generation and our partnership, the
first of its kind in the UK, will highlight to Government and
industry just how zero-emission technology can be adopted to
significantly accelerate decarbonisation and meet Net Zero
aspirations."
Mark Reynolds, Mace's Group Chief Executive, added:
"One of our strategic priorities as an organisation is the
pursuit of a sustainable world - and to make that a reality we know
we must change how we power our construction sites. This
partnership with AFC Energy will hopefully be a significant step on
our journey to removing diesel from our projects - helping to
reduce emissions, pollutants and noise."
-ENDS-
For further information:
AFC ENERGY AND ADVISORS
AFC Energy plc
Adam Bond (Chief Executive Officer) +44 (0) 14 8327 6726
Iain Thomson (Head of Communications and investors@afcenergy.com
Stakeholder Management)
WH Ireland - Nominated Adviser and Joint
Broker
M ike Coe (Corporate Finance)
Jasper Berry (Corporate Broking) +44 (0) 117 945 3470
-------------------------
M C Peat & Co LLP - Joint Broker
Charlie Peat +44 (0) 20 7104 2334
-------------------------
Zeus Capital Limited - Joint Broker
Daniel Harris (Corporate Finance)
John Goold/Dominic King (Corporate Broking) +44 (0) 203 829 5000
-------------------------
About AFC Energy plc
AFC Energy plc is commercialising a scalable alkaline fuel cell
system, to provide clean electricity for on and off grid
applications. The technology, pioneered over the past twelve years
in the UK, is now deployable in electric vehicle chargers, off-grid
decentralised power systems and industrial gas plants as part of a
portfolio approach to the decarbonisation of local electricity
needs.
Afcenergy.com
About Mace Group
Mace is a global company of experts in shaping and making the
built environment. It provides development, consulting,
construction and operations services for many of the world's most
inspiring building and infrastructure projects and programmes -
from Olympic parks and iconic skyscrapers to state-of-the-art data
centres, schools, hospitals and homes.
The privately-owned company, headquartered in London, UK, has an
annual turnover of GBP1.8 billion. Over 30 years, its growth has
been fuelled by an adventurous spirit and the relentless pursuit of
a better way. Today, the company employs over 6,000 people across
five global hubs in Europe, Middle East and North Africa, the
Americas, Sub Saharan Africa and Asia Pacific.
Mace is driven by its purpose to redefine the boundaries of
ambition, and its vision of leading the way to a more connected,
resilient and sustainable world.
Find out more at www.macegroup.com
[1] Taken from UN report '2020 GLOBAL STATUS REPORT FOR BUILDINGS AND CONSTRUCTION', via https://globalabc.org/resources/publications/2020-global-status-report-buildings-and-construction
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