Wednesday, November 29News That Matters

AFC Energy takes “short term, semi-opportunistic” step into hydrogen logistics

–News Direct–

AFC Energy PLC (AIM:AFC, OTC:AFGYF) CEO Adam Bond speaks to Thomas Warner from Proactive after the hydrogen fuel cell technology provider announced the acquisition of hydrogen storage and distribution assets that were owned by Octopus Hydrogen.

Bond explains that the deal is unique and novel move in the UK market, presenting an end-to-end solution covering hydrogen production, distribution, and fuel cell generators. Despite enduring reservations about entering the capital-intensive hydrogen logistics industry in a major way, Bond justifies the acquisition as a short-term move that allows the company to capitalise on a great opportunity.

The purchase, agreed at what he calls "a semi-opportunistic basis", supports AFC's ongoing work in displacing diesel generators and thereby contributing to the country's decarbonisation efforts. Bond envisions potential collaboration with emerging third-party logistics providers, foreseeing a symbiotic relationship in the evolving hydrogen sector. The news follows the announcement last week of the launch of a 50:50 joint venture with Speedy Hire PLC (LSE:SDY), Speedy Hydrogen Solutions (SHS).

The collaboration, announced in July and now formalised under the SHS banner, aims to revolutionise the temporary power industry by transitioning from diesel to sustainable hydrogen generators.

Contact Details

Proactive UK Ltd

+44 20 7989 0813

uk@proactiveinvestors.com

View source version on newsdirect.com: https://newsdirect.com/news/afc-energy-takes-short-term-semi-opportunistic-step-into-hydrogen-logistics-439307215

AFC Energy PLC

comtex tracking

COMTEX_443765171/2655/2023-11-20T10:26:12

Post Disclaimer

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Article Gaze journalist was involved in the writing and production of this article.