AFC Energy reports progress on fuel cell gensets

AFC Energy, the UK-based developer of hydrogen fuel cell generators, said it had £27 million worth of orders for its 30kW fuel cell gensets.

The orders include supply arrangements for its 50/50 joint venture with Speedy Hire – Speedy Hydrogen Solutions – and its sales agreement with TAMGO covering Saudi Arabia, the Middle East and North Africa, as well as orders with global contractor Acciona.

Photo: Speedy Hire

AFC said Speedy had committed £2.0 million in orders with first year sales with the company projected at £4.7 million. This year will see the first deliveries to all three customers.

TAMGO is owned by Zahid Tractor, the largest distributor of construction equipment in Saudi Arabia and a Caterpillar dealer.

The company said in its annual results for the year to 31 October 2023 that it had completed supplier qualification work for all the key components of the gensets and was targeting suppliers who could scale up to more than 1000 units annually.

Adam Bond, chief executive of AFC Energy, said its key aims in 2023 had been to validate its business model, customer demand, its technology and its route to market; “Twelve months later, our contracted order book, multiple routes to market and successful product deployments highlight the tangible successes achieved by AFC Energy over the year.”

He said never before has customer demand to displace diesel generators been stronger; “driven by Government policy, tendering requirements, carbon reduction commitments and emissions based regulations.

“Together with our new distribution partners, including Speedy Hire and TAMGO, we are confident of the company’s robust commercialisation strategy.”