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Wednesday 27 January, 2010

AFC Energy Plc

AFC Energy announces order fr

RNS Number : 1715G
AFC Energy Plc
27 January 2010
 




AFC Energy PLC

('AFC Energy' or the 'Company')

AFC Energy announces an order from Centrica


AFC Energy PLC, the developer of low cost alkaline fuel cells, is pleased to announce that it has secured an order from Centrica PLC reserving 250kW of fuel cell systems for use in a flagship project. 

AFC Energy's fuel cells will provide Centrica with a source of carbon-free electricity generation with a conversion efficiency into electricity of up to 60%, far greater than any fossil fuel generation on the market today. The commercial terms of the agreement are to be agreed once AFC has completed development of its 50kW fuel cell system in 2011.

Ian Balchin, AFC Energy's Chief Executive, said: 

"We are delighted to receive this order now which effectively gives Centrica an option over our future capacity when we start to roll out our 50kW fuel cell systems. We look forward to working with Centrica and the prospect of installing our fuel cell systems as part of its project."

Brian Amos from Centrica plc added:

"We have looked at a number of technologies that have the potential to generate low-cost electricity with zero carbon dioxide emissions and the fuel cell system from AFC Energy has the potential to meet our requirements for a specific project. We look forward to working with AFC Energy to deliver this solution."

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



This information is provided by RNS
The company news service from the London Stock Exchange
 
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