TIDMAFC
RNS Number : 4832V
AFC Energy Plc
04 December 2023
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4 December 2023
AFC Energy PLC
("AFC Energy" or the "Company")
Ammonia Cracking Pilot Supports Unlocking of Global Hydrogen
Trade
First Ever "International- UK" Ammonia Fuel Value Chain
Demonstration
AFC Energy plc (AIM: AFC) ("AFC Energy"), a leading provider of
hydrogen power and generation technologies, is pleased to announce
the unveiling of its world first modular ammonia cracker system
demonstrating the production of hydrogen in the UK from ammonia
procured from OCI Global ( (Euronext: OCI).
Highlights
-- AFC Energy commences largest "ammonia to hydrogen" modular
cracker demonstration in operation worldwide.
-- Cracker system designed to deliver 140 tonnes of fuel cell
grade (ISO) hydrogen per annum (400kg/day).
-- Hydrogen from the cracker plant targeted for sale into AFC
Energy's UK H-Power Generator deployments.
-- Tangible demonstration of ammonia's role in supporting global
hydrogen trade with ammonia supplied by OCI via its Rotterdam
terminal, where it imports from its facilities in the US and
MENA.
-- Letter of Intent now signed with trading arm of large
European energy company to market cracker adoption.
-- Successful demonstration of pilot plant highlights the
significant unrealised value in AFC Energy's ammonia cracker
technology.
AFC Energy is pleased to announce the commencement of its first
"ammonia to hydrogen" cracker demonstration plant. Located in the
UK using ammonia sourced from OCI Global, this will be world's
largest ammonia to hydrogen modular cracker demonstration in
operation.
The Hydrogen Council, in collaboration with McKinsey and
Company, forecasts that 400 out of the 660 million tons of hydrogen
needed for carbon neutrality by 2050 will be transported over long
distances, with the global trade of hydrogen derivatives, including
ammonia (comprising hydrogen and nitrogen) accounting for
approximately 45%.
The well-established supply chain for ammonia enables a lower
barrier to its adoption globally as a hydrogen carrier fuel.
However, the lack of commercially available ammonia cracking
technologies highlights an important challenge in the ammonia value
chain.
Designed to produce fuel cell grade hydrogen at a rate of
400kg/day, AFC Energy's cracker system consumes a small fraction of
the power consumed by electrolysers, highlighting an ideal
distributed hydrogen source potential, whether for use in
stationary (including motive refueling) or maritime
applications.
The cracker demonstration plant has been designed, built and
commissioned by AFC Energy over the course of 2023 leading to the
successful first production of cracked hydrogen this week. The
demonstration plant, including purification technology, will now be
operated and validated over several months with targeted ISO grade
(99.97%) hydrogen production.
Hydrogen produced by AFC Energy from the plant could be supplied
to customers of the Company's H-Power Generators (including Speedy
Hydrogen Solutions) and third party customers.
The Company's newest cracker technology advancements (launched
in March 2023) whose purity was validated by the UK's National
Physical Laboratory earlier this year, are expected to be
retrofitted into the demonstration plant in 2024 (replacing the
existing cracker technology), further improving cost and efficiency
performance, and adding to its market leading characteristics which
have to date been demonstrated at lab scale.
The ammonia used was supplied by OCI Global, a leading producer
of hydrogen based products, including ammonia and methanol with
ammonia production facilities in the Middle East, Africa, US and
Europe. The ammonia sold to AFC Energy to be cracked into hydrogen
for use in fuel cell applications, was delivered via OCI's Port of
Rotterdam terminal, where it imports its ammonia from the US and
MENA.
Engineering will start in 2024 to containerise the ammonia
cracker platform, including purification technology, to enable
mobile, distributed hydrogen production at the point of consumption
with an initial focus on European and Asian markets. The
containerised cracker platform then becomes a standalone product
capable of being sold to hydrogen consumers, positioning AFC Energy
at the forefront of this emerging global market.
The Company also expects to commence cracking green ammonia for
the next stage of the project.
AFC Energy has signed its first Letter of Intent with the
trading arm of one of Europe's largest energy companies to market
the potential for ammonia as a hydrogen carrier fuel to its
customers. AFC Energy is currently in dialogue with multiple
European project partners, demonstrating the high growth potential
of the Company's modular, scalable cracker technology.
The Company believes the emergence of its ammonia cracking
technology, alongside its existing fuel cell technology, has the
potential to deliver material value. The Company is exploring
options to ensure the material value potential is properly
recognized to the benefit of shareholders through industry
partnerships and other strategic avenues.
Adam Bond, Chief Executive, AFC Energy, said:
"With an ammonia cracker offering market leading efficiency, low
power consumption and the production of fuel cell grade hydrogen,
AFC Energy's first pilot project is a major step forward in
unlocking the barriers of hydrogen logistics and transport. The
cracker system, in containerised form, will be capable of
replication across Europe and Asia with our ability to generate low
cost, decarbonised hydrogen from internationally traded green and
blue ammonia being a key step forward in the evolution of the
global hydrogen market."
For further information, please contact:
AFC Energy plc +44 (0) 14 8327 6726
Adam Bond (Chief Executive Officer) investors@afcenergy.com
Peel Hunt LLP - Nominated Adviser and Joint
Broker
Richard Crichton / Tom Ballard / Georgia
Langoulant +44 (0) 207 418 8900
Zeus - Joint Broker
David Foreman / James Hornigold (Investment
Banking)
Dominic King (Corporate Broking) / Rupert +44 (0) 203 829
Woolfenden (Sales) 5000
FTI Consulting - Financial PR Advisors +44 (0) 203 727 1000
Ben Brewerton / Nick Hennis / Tilly Abraham 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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