20th Jun 2022 09:37
(Alliance News) - AFC Energy PLC on Monday announced a partnership with Kier Group PLC, with an initial lease of AFC's new Power Tower hydrogen power generator units to a construction site in south west England for deployment.
The Power Tower will be leased by Bedfordshire-based construction services provider Kier and be deployed on the site in the second half of 2022. Kier itself will operate the system, while Cranleigh, England-based AFC Energy will source and supply hydrogen fuel to the site on commercial terms.
The Power Tower will provide power to on-site cabins within the site.
In addition, the lease provides a basis for a commercial partnership on a longer-term across several UK sites, with expectations of the deployment of additional fuel cell systems in 2023.
For Kier, the deal falls in line with its carbon reduction target to reach net-zero by 2045.
"We are delighted to be partnering with Kier in support of their decarbonisation initiatives here in the UK through deployment of our hydrogen fuel cell technology. Contractors and plant hire businesses are under increasing pressure to reduce greenhouse emissions and improve air quality; we are confident that our hydrogen fuel cells will play an important role in delivering a Net Zero UK construction industry," said AFC Chief Executive Officer Adam Bond.
Shares in AFC Energy were down 3.3% at 23.75 pence on Monday morning in London, while Kier shares were 1.0% higher at 68.59p.
By Dayo Laniyan; [email protected]
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