3rd Feb 2014 11:38
LONDON (Alliance News) - AFC Energy PLC Monday said it has signed a memorandum of understanding with Allied New Technologies Inc to undertake a fuel cell system feasibility study.
The industrial fuel cell power company said the study would test the viability of a fuel cell system being used to generate clean energy from surplus hydrogen produced from Allied's plant in Florida.
The company said the agreement marks its first move into the US market and utilises hydrogen produced at Allied's chlor-alkaline facility.
The hydrogen by-product can be used as a fuel-rich source with AFC Energy's fuel cells to produce electricity with zero carbon emissions.
AFC said it will work with Foster Wheeler AG, a major engineering and construction group being acquired by the UK's AMEC PLC, to carry out the study.
AFC shares were up 3.3% to 28.92 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
AFC Energy