REG - AFC Energy Plc - First S Series Order from Niftylift Powered Access

AFC EnergyAnnouncement

20/05/2024 07:00

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RNS Number : 0022P  AFC Energy Plc  20 May 2024

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20 May 2024

 

 

AFC Energy PLC

("AFC Energy" or the "Company")

 

First S Series Fuel Cell Module Order from Niftylift Powered Access

 

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation
technologies, is pleased to announce its agreement to supply S Series fuel
cell modules to Niftylift (UK) Limited ("Niftylift") for integration with its
next generation mobile elevating work platform.

 

Highlights

 

·      Niftylift is one of the largest mobile elevating work platform
(MEWP) manufacturers in Europe and sells its market-leading products
worldwide.

 

·      AFC Energy and Niftylift have agreed a collaboration whereby AFC
Energy will sell S Series fuel cell modules into Niftylift's Hydrogen -
Electric (H(2)E) range of powered access MEWPs.

 

·      AFC Energy will design and sell its S Series fuel cell modules
packaged specifically for Niftylift, based on its next generation S Series
architecture, in early 2025.

 

·      Niftylift will integrate the modules into their H(2)E platforms
before assessing opportunities to scale the fuel cells into larger MEWPs.

 

·      Global sales of Niftylift's zero emission H(2)E series of powered
access machines into Europe, the United States and Middle East already
highlights the immediate opportunity and scale of the market.

 

·      Niftylift supply its H(2)E platform exclusively to Speedy Hire in
the UK to support decarbonisation of the construction market which fully
aligns with AFC Energy's sector focus, both in the UK and internationally.

 

John Keely, Managing Director of Niftylift, said:

"We have been thrilled at the large uptake shown in the UK and overseas for
our world first H(2)E range of powered access units.  Our collaboration with
AFC Energy as a market leader in fuel cell technology further enhances our
strong reputation in offering zero emission powered access equipment to a
growing international market and further underscores our commitment to
advancing our technology whilst doing so in a sustainable way."

 

Adam Bond, Chief Executive at AFC Energy, said:

"Decarbonisation of industry through the displacement of diesel is a clear
strategic focus for AFC Energy.  We are excited to be working with Niftylift
in further enhancing their H(2)E powered access offering with zero emission
fuel cell modules.  The agreement builds on our H-Power Generator offering by
opening new opportunities for system integration with heavy plant and
equipment.  Combining the volume of fuel cell modules deployed in H-Power
Generators with new partners such as Niftylift, builds on the economies of
scale available through our supply chain,  driving down costs to end users.
We look forwards to working closely with Niftylift on this exciting new
partnership."

 

 

For further information, please contact:

 

 AFC Energy plc                                                 +44 (0) 14 8327 6726

 Adam Bond (Chief Executive Officer)                            investors@afcenergy.com (mailto:investors@afcenergy.com)

 Peel Hunt LLP - Nominated Adviser and Joint Broker             +44 (0) 207 418 8900

 Richard Crichton / Tom Ballard / Georgia Langoulant
 Zeus - Joint Broker                                            +44 (0) 203 829 5000

 David Foreman / James Hornigold (Investment Banking)

 Dominic King (Corporate Broking) / Rupert Woolfenden (Sales)

 RBC Capital Markets - Joint Broker                             +44 (0) 20 7653 4000

 Matthew Coakes / Teri Su

 Eduardo Famini / Jack Wood

 FTI Consulting - Financial PR Advisors                         +44 (0) 203 727 1000

 Ben Brewerton / Tilly Abraham / Evie Taylor                    afcenergy@fticonsulting.com (mailto:afcenergy@fticonsulting.com)

About AFC Energy

 

AFC Energy plc is a leading provider of hydrogen energy solutions, to provide
clean electricity for on and off grid power applications. The Company's fuel
cell technology is now deployable as electric vehicle chargers, off-grid
decentralised power systems for construction and temporary power with emerging
opportunities across maritime, data centres and rail as part of a portfolio
approach to the decarbonisation of society's growing electrification needs.

 

 

 

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