AFC Energy enters into MOU wi

RNS Number : 3184G

AFC Energy Plc

29 January 2010

 



AFC Energy PLC

('AFC Energy' or the 'Company')

AFC Energy enters into memorandum of understanding with WSP Group

for future power station deployment.

AFC Energy, the low cost fuel cell provider, is pleased to announce that it has entered into a binding memorandum of understanding ("MOU") with WSP Environmental Limited (trading as WSP Environment and Energy) and its sister company CEL International Ltd, an engineering, procurement and construction management ("EPCM") provider, under which they will begin contributing a range of services to AFC Energy in preparation for full scale deployment of fuel cell power stations. 

Both WSP Environment and Energy and CEL International are part of the WSP Group plc (LSE: WSH). AFC Energy and WSP Group had previously announced on 7^th January 2010 their intention to work together on a SuperGreen Power Station, a showcase demonstration of the Company's fuel cell.

The services provided by WSP Group under the MoU will include: investigations into legislative requirements, planning issues and engineering matters as well as assistance with product assembly requirements and other manufacturing operations - including assistance with the production of component parts and final assembly operations.

AFC Energy consider WSP Group to be a primary partner for deploying its fuel cell systems, specifically where the electricity supply company ("ESCO") model or leasing model is utilised. WSP Group has offices in Brisbane and will support the initial deployment of an Alpha fuel cell system to Linc Energy's Chinchilla plant on behalf of the Company.

Ian Balchin, AFC Energy, Chief Executive said, 

"This is a significant relationship for AFC Energy. Our technology is progressing rapidly towards commercialisation with an array of deployment opportunities now in place with Akzo Nobel, Ineos Chlor Vinyl, Linc Energy, Centrica and Waste2Tricity. The relationship with WSP Group provides the operational deployment resource to enable the technology to be physically delivered to the end user, efficiently and quickly."

Stuart McLachlan,Managing Director of Global Operations for WSP Environment & Energy said,

"WSP is an organisation that prides itself as being innovative and supporting initiatives that are at the cutting edge of renewables technology and we are delighted to be involved in this exciting project. We have worked indirectly with AFC Energy via Waste2Tricity for over a year and we can see the potential of AFC's fuel cells in a number of markets and believe it could play a role in not only enabling us to flex into a low carbon future, but as being one of the emerging technologies that can fill the looming energy gap."

For further information please visit www.afcenergy.com or contact:

AFC Energy plc Tim Yeo, Chairman Ian Balchin, Managing Director	01483 276726
Astaire Securities (NOMAD) Shane Gallwey	020 7448 4400
Allenby Capital Imran Ahmad	020 3328 5656
Madano Partnership Michael Evans  Matthew Moth	020 7593 4000

 

END

 

 

AGRBKLBLBFFLBBZ