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LONDON - AFC Energy plc (AIM:AFC), a company specializing in hydrogen power generation technologies, has announced a Joint Development Agreement (JDA) with an unnamed S&P 500 industrial giant to create a new line of ammonia crackers aimed at enhancing hydrogen production. This collaboration is set to potentially generate significant revenue for AFC Energy from 2027.
The partnership will leverage AFC Energy’s proprietary technology to develop ammonia crackers varying in size, designed to be modular and highly efficient. The agreement includes a provision for the reimbursement of development costs incurred by AFC Energy from its Industrial Partner.
The Industrial Partner, a publicly listed entity with a robust financial background and technical expertise, aligns with AFC Energy’s supply chain objectives. The successful achievement of key milestones outlined in the JDA is anticipated to lead to a substantial commercial relationship, with AFC Energy expecting material revenues from the sale of its ammonia cracker systems. These systems are intended for large-scale industrial applications, including the provision of hydrogen for port side pipeline filling in Northern Europe.
John Wilson, CEO of AFC Energy, expressed confidence that this partnership validates the company’s technology within the industry and aligns with their strategy to achieve commercial viability in the hydrogen economy without government subsidies. Wilson anticipates that the collaboration will accelerate AFC Energy’s development of products aimed at decarbonizing heavy industry operations.
The announcement is based on a press release statement and marks a significant step forward for AFC Energy as it continues to expand its technology offerings in the hydrogen sector.
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