AFC Energy and ABB Partner to Power-Up the Future of Clean EV Charging

UKhydrogen power specialist to work with world leader in electrification technologies to bring hydrogen powered EV charging to a global market

DUNSFOLD,England,Dec. 17,2020 -- AFC Energy(AIM: AFC),a leading provider of hydrogen power generation technologies,today announces a strategic partnership with ABB,a world leader in electrification and digitalisation technologies,operating in over 100 countries,to develop the next generation of high power electric vehicle (EV) charging solutions.

With the global EV charging market expected to exceed US$140bn by 2030,this collaboration will support the worldwide delivery of the charging infrastructure required to meet such a demand. It will also create a new solution that will provide secure,efficient,flexible and reliable local power supplies,with zero emissions. The joint system will be ready for deployment initially in the UK,Europe,United States and elsewhere,by the second half of 2021.

Frank Muehlon,Head of ABB's global business for E-mobility Infrastructure Solutions,said: "ABB has led the way in e-mobility solutions and is proud to have played a key role in driving EV adoption rates across the world. This partnership with AFC Energy allows us to continue to push the boundaries of e-mobility,specifically targeting off-grid applications and thus enabling a much wider reach of e-mobility based on clean energy.

"At ABB we believe that sustainable development means progress towards a healthier and more prosperous world today and for future generations. It is through innovative applications of technology such as this partnership with AFC Energy that we can enable a low-carbon society. AFC Energy is uniquely positioned with their cost- effective alkaline-based fuel cell technology,which makes it a perfect match."

Both companies will jointly market the integrated product and will collaboratively develop a communications strategy for system branding and deployment.

The partnership will focus efforts on the joint deployment of integrated high power EV charging systems across key ABB markets,including private and logistics vehicle hubs,charge point operators,and urban transportation. The charging systems could also be used to power marine and vertical take-off and landing (VTOL) craft as electrification continues to permeate the aviation and marine industries.

Adam Bond,Chief Executive Officer at AFC Energy,said: "Today marks an historic milestone in the commercialisation of our proprietary hydrogen fuel cell as we commence a long-term relationship with ABB. This strategic partnership is fully aligned with AFC Energy's go-to-market strategy,with ABB providing strong and credible access to key customer channels in Europe and overseas.

"It will bring to market a unique,zero emission solution powered by world leaders in electrification and alkaline fuel cell technologies,to enable deployment of future high power EV charging infrastructure. This is a key step on the journey to full decarbonisation of mobility and transport across the globe,as we continue to drive down costs and further increase manufacturing scale,underwritten by emerging global market opportunities."

Muehlon concluded: "Our partnership with AFC Energy offers potential beyond the traditional EV market. The DC fast charging system will have applications for commercial and logistics carriers,marine and urban transport. Sustainable solutions are also being developed for other growing segments like data centres and utilities to enable optimised carbon footprint."

ABB entered the EV-charging market in 2010,and to date has sold more than 17,000 ABB DC fast chargers across 80 countries.