AFC Energy Plc World first hydrogen electric vehicle charger (3118N)
17 January 2019 - 6:00PM
UK Regulatory
TIDMAFC
RNS Number : 3118N
AFC Energy Plc
17 January 2019
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014. Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
17 January 2019
AFC Energy PLC
("AFC Energy" or the "Company")
AFC Energy's CH(2) ARGE(TM) System Powers Up World's First
Hydrogen Electric Vehicle Charger
AFC Energy (AIM: AFC), the leading alkaline fuel cell power
company, today announced the successful demonstration of CH(2)
ARGE(TM) , the world's first electric vehicle charger based on
hydrogen fuel-cell technology. The breakthrough by the UK-based
energy technology company previewed the potential to enable 100%
clean electricity for future EV charging.
The demonstration of the CH(2) ARGE unit took place at Dunsfold
Aerodrome, home to the BBC Top Gear test track, and saw a BMW i8 as
the first ever car to be recharged with power generated by a
hydrogen fuel cell. The innovation takes place after 10 years of
fuel cell research development at the AFC Energy laboratories.
Having now demonstrated proof-of-concept of the CH(2) ARGE(TM)
prototype, AFC Energy is preparing for the commercialisation of
fuel cell-based EV Charge solutions to meet the growing demand for
environmentally friendly power in the EV market. Traditional
charging causes pollution with electricity from fossil fuels, but
AFC Energy's CH(2) ARGE system can be 100% emissions free.
With the rapid growth in the international EV market and
ambitious Government targets for EV deployment over the short term,
UBS, the global investment bank, has forecast the investment
required in new charging infrastructure to be in the order of
US$360bn over the next eight years.
In the UK alone, were the Government to deliver on its policy of
50% of new car sales being EVs by 2030 and 100% by 2040, the
National Grid forecasts there will be 36 million EVs on the road -
up from c.200,000 today. If one in 10 of these EVs are being
recharged simultaneously, the UK's future fleet of 36 million EVs
would have a forecast peak demand surge of 25.7 GW based on today's
average EV battery size: that's almost 8 new nuclear power stations
or 98 London Array offshore wind farms. This is before
consideration is given to the requisite investment needed across
the national transmission and distribution networks to handle
potentially large surges in peak power demand.
AFC Energy's CH(2) ARGE system is working to provide a solution
to these potential future challenges and its CH(2) ARGE unit has
the potential to deliver locally-generated electricity through
thousands of installations that generate 100% clean
electricity.
"By 2030, it is estimated that there could be nine million
electric vehicles on the roads of Britain, up from 90,000 today,"
said Adam Bond, Chief Executive Officer at AFC Energy. "For this
transition, we need charging stations to be embedded throughout the
country, as well as seeking innovative solutions to overcome the
severe limitations of centrally generated electricity. By
developing and previewing the effectiveness of our CH(2) ARGE
system in the application of EV charging, AFC Energy has shown it
is ready to lead the way not only in solving the challenges of
increased demand for electricity, but also doing so in a zero
emissions approach."
CH(2) ARGE incorporates AFC Energy's proprietary hydrogen fuel
cell system connected to an inverter similar to those used by
Toyota at their Electric Vehicle research centre. The inverter
transfers energy created by the fuel cell to a charger. The system
on preview is supported by a 48V battery pack to assist with peak
power demands. The solution can also be tailored for both on and
off grid applications and scaled up as required.
The fuel cell is sized to provide sufficient power to charge EVs
concurrently and can be scaled up to provide solutions for mass
recharging at supermarkets, retail venues and sports stadiums. The
inverters are controlled via AFC Energy's fuel cell control system
which ensures the safe and precise control of the complete setup.
Being integrated into AFC Energy's control system means that
product solutions can be implemented with Smart Charging
capabilities.
AFC Energy's CH(2) ARGEsystem highlights the versatility and
adaptability of the Company's core fuel cell technology and builds
on a number of announced and unannounced deployment opportunities
currently under development by the Company.
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
TUVA Partners - Public Relations
James Kennedy +44 (0) 7809 495 759
About AFC Energy
AFC Energy plc is commercialising a scalable alkaline fuel cell
system, to provide clean electricity for on and off grid
applications. The technology, pioneered over the past ten years in
the UK, is in the process of being deployed in industrial gas
plants for grid generation, as an alternative to diesel generators
for localised power, in energy storage systems and as the power
source for local electricity needs.
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END
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