AFC Energy Plc Methanol Fuel Tower Field Trial (4372F)

TIDMAFC

RNS Number : 4372F

AFC Energy Plc

07 November 2022

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER ARTICLE 7 OF THE EU REGULATION 596/2014 AS IT FORMS PART OF THE UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

7 November 2022

AFC Energy PLC

("AFC Energy" or the "Company")

Methanol Fuel Tower Field Trial

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, is pleased to provide an update on the development of its "flex fuel" methanol development and methanol Fuel Tower concept line.

Highlights

   --      Successful field trial of first prototype Methanol Fuel Tower with ACCIONA in Spain 

-- The short field trial saw the Methanol Fuel Tower successfully generate on-site hydrogen from methanol

-- Hydrogen generated from the methanol Fuel Tower fuelled AFC Energy's Power Tower, powering ACCIONA's site compound at Alcalá del Valle

-- AFC Energy's new methanol Fuel Tower operated for over 100 continuous hours alongside fuel cell platforms before shipment to Spain

Methanol and Ammonia are now recognized as important hydrogen carrier fuels that support the decarbonisation of hard to abate industries. The on-site liberation of hydrogen from carrier fuels provides the basis for the accelerated adoption of AFC Energy fuel cells and the generation of sustainable off grid power in locations where hydrogen is uneconomic to transport or store.

Following several months of development work, AFC Energy is now pleased to announce the successful field trial of its first prototype methanol Fuel Tower, generating on-site hydrogen from methanol. The Fuel Tower consists of methanol handling systems, fuel reformation and purification technologies, control and safety electronics with discreet intellectual property developed across several of these areas.

The field trial was conducted in Spain in collaboration with and at the request of one of AFC Energy's construction partners, ACCIONA. During the trial, the methanol Fuel Tower provided hydrogen to fuel cell modules within the AFC Energy Power Tower that has been successfully operating to displace diesel generators at the construction site's compound since August 2022.

The methanol Fuel Tower concept has already operated for over 100 continuous hours fueling AFC Energy's fuel cell platforms. These initial tests were undertaken at AFC Energy's UK technical centre. The concept is aligned with AFC Energy's Flex Fuel approach to meeting industry's need for low cost, on site hydrogen production across construction, temporary power, backup power and maritime sectors.

The Company is now engaging with industry to validate the product concept as part of AFC Energy's wider Flex Fuel strategy.

Miguel Paris Torres, Head of Area at ACCIONA's Construction R&D Centre, said:

"ACCIONA aims to be at the forefront of the construction industry's transition to a net zero future. As part of those efforts to decarbonize our business activities, we have been running a long-term field trial of an AFC Energy Hydrogen Power Tower fuel cell in one of our construction sites in Spain. One of the challenges for the construction industry is the transportation to and storage of Hydrogen on site. The methanol Fuel Tower will help enable us to overcome those challenges and fully utilise the potential for this technology across all of our construction sites."

Adam Bond, Chief Executive Officer at AFC Energy, said:

"Today's announcement is an important step forward in the design and delivery of AFC Energy's Flex Fuel approach to Hydrogen power generation. There are many remote locations where economic supply of hydrogen fuel is not possible and where hydrogen carrier fuels such as ammonia and methanol will play an important role to support the

decarbonisation of industry.

"We have already seen methanol and ammonia highlighted as key fuels to reduce reliance on fossil fuels in the maritime sector, and with this week's field trial of the methanol Fuel Tower with ACCIONA in Spain, we can see further opportunities for future deployment of systems across the construction and temporary power sectors of the economy."

For further information, please contact:

 
 AFC Energy plc                                   [phone] 
  Adam Bond (Chief Executive Officer)              [e-mail] 
 
   Peel Hunt LLP - Nominated Adviser and Joint 
   Broker 
   Richard Crichton / Tom Ballard / Georgia 
   Langoulant                                       [phone] 
 Zeus Capital Limited - Joint Broker 
  David Foreman / James Hornigold (Investment 
  Banking) 
  Dominic King (Corporate Broking) / Rupert 
  Woolfenden (Sales)                              [phone] 
 
   FTI Consulting - Financial PR Advisors           [phone] 
   Ben Brewerton / Nick Hennis / Dhruv Soni         [e-mail] 
 

About AFC Energy

AFC Energy plc is commercialising scalable "flex fuel" fuel cell systems, 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 data centre applications with emerging opportunities across maritime and rail as part of a portfolio approach to the decarbonisation of local electricity needs.

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November 07, 2022 02:00 ET (07:00 GMT)