AFC Energy Plc Southern Oil Refining Fuel Cell System (9438F)
01 November 2018 - 6:00PM
UK Regulatory
TIDMAFC
RNS Number : 9438F
AFC Energy Plc
01 November 2018
1 November 2018
AFC Energy PLC
("AFC Energy" or the "Company")
Southern Oil Refining Fuel Cell System - Update
AFC Energy (AIM: AFC), the industrial fuel cell power company,
is pleased to provide an update on its first commercial order in
Australia for a proprietary hydrogen power generation unit from
refiner, Southern Oil Refining Pty Ltd ("Southern Oil").
Over the past few months, AFC Energy has conducted initial
engineering and supply chain preparedness work in advance of
finalising the full suite of terms for supply of a fuel cell system
into Southern Oil's Gladstone Refinery during the course of 2019.
This work has included several meetings with electrode supplier,
Industrie De Nora together with containerisation suppliers that AFC
Energy is currently working with to maximise the "plug and play"
capability of the fuel cell system in Gladstone.
In the week commencing 15 October 2018, representatives of AFC
Energy met with Southern Oil management at the bio-refinery and
advanced bio-fuels laboratory site in Gladstone and at Southern
Oil's Brisbane based offices to progress the logistics,
installation, operational matters and confirm commercial and
contractual principles associated with the fuel cell system
installation.
Southern Oil is currently reviewing the final engineering design
of their hydrogen solution at the bio-refinery which may result in
an adjustment to the volume of hydrogen available for the fuel cell
system in Gladstone, however, both parties remain ever focussed on
deployment of Australia's first industrial scale fuel cell
system.
Tim Rose, Southern Oil's Chief Executive Officer, said: "We are
delighted to continue our collaboration with AFC Energy. It is
exciting for us to be the first mover in acquiring AFC's hydrogen
alkaline fuel cell. This technology compliments our suite of
renewable, waste to energy projects which is focussed on delivering
economically viable, and environmentally responsible clean
energy".
Adam Bond, AFC Energy's Chief Executive Officer, said: "It was
great spending the week with Southern Oil and seeing the tremendous
work being carried out in Gladstone, Queensland. Southern Oil have
designed and built the world's most advanced re-refining plant of
waste lube oil back into base lube oil - as well establishing
Australia's only Advanced Bio-Fuels Pilot Plant and Laboratory. It
is these types of facilities, together with companies such as
Southern Oil, where the deployment of zero emission fuel cell
systems makes absolute sense. We continue to collaborate closely
with Southern Oil's technical team to ensure AFC Energy's fuel cell
is fully operational within the timeframe of their advanced
bio-refinery, expected to be mid 2019."
For further information, please contact:
AFC Energy plc
Adam Bond (Chief Executive Officer) +44 (0) 20 3697 1209
Cantor Fitzgerald Europe - Nominated Adviser and Joint Broker
David Foreman
Richard Salmond +44 (0) 20 7894 7000
M C Peat & Co LLP - Joint Broker
Charlie Peat +44 (0) 20 7104 2334
Lionsgate Communications - Public Relations
Jonathan Charles +44 (0) 20 3697 1209
About AFC Energy
AFC Energy plc has developed and successfully demonstrated an
alkaline fuel cell system, which converts hydrogen into "clean"
electricity. AFC Energy's key project POWER-UP demonstrated the
world's largest operational alkaline fuel cell system at Air
Products' industrial gas plant in Stade, Germany. The Company is
now building upon an already established pipeline of commercial
opportunities and driving the findings from the development phase
of the technology into a technically optimised and commercially
relevant fuel cell system. For further information, please visit
our website: www.afcenergy.com
About Southern Oil
Southern Oil is a privately owned Australian company operating
two waste oil refinery facilities in Wagga Wagga (NSW) and
Gladstone (QLD). Each day these refineries take in around 420,000
litres of waste lube oil that would otherwise be burnt or
dumped.
The development of world leading processes in waste oil refining
has led to investments into, and the opening of, Australia's first
Advanced Biofuels Laboratory and Biofuels Pilot Plant in Gladstone,
Queensland.
Southern Oil are testing renewable technologies from around the
world to produce renewable crude, bio-hydrogen and 100 per cent
renewable drop in fuels. For further information, please visit
Southern Oil's website: www.sor.com.au
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END
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