TIDMAFC
RNS Number : 1166U
AFC Energy Plc
01 December 2021
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01 December 2021
AFC Energy PLC
("AFC Energy" or the "Company")
AEM "S" Series Hydrogen Fuel Cell and Ammonia Cracker Selected
for Norwegian ZeroCoaster's Bulk Cargo Ship Design
ZeroCoaster Consortium, Led by Vard and including ABB, Trosvik
Maritime, SINTEF Ocean and HK Shipping Achieves AiP Milestone from
DNV for Ammonia Fuel Cell Propelled Cargo Ship Design
AFC Energy (AIM: AFC), a leading provider of hydrogen power
generation technologies, is pleased to announce a milestone
achievement set to unlock adoption of Ammonia and high energy dense
alkaline fuel cell technology in the multi-billion-dollar effort to
decarbonise the global maritime industry.
Highlights
-- The ZeroCoaster programme is sponsored by the Norwegian Government
and led by global shipping design and build partner Vard
Engineering Brevik AS ("VARD").
-- Objective is to design next generation coastal cargo ships
to accelerate the transition to zero-emission shipping solutions.
-- To meet 2030 decarbonisation targets for the shipping industry,
Norway alone is expected to require 1,100 zero or low emission
ships, including 450 bulk carrier cargo ships of the type
envisaged by ZeroCoaster.
-- AFC Energy began work with VARD, ABB and ZeroCoaster partners
in June 2021 to design and engineer a modularised bulk carrier
cargo ship propulsion system fuelled with green ammonia.
-- The technology chosen for the ship's 1.2MW power requirement
was AFC Energy's new "S" Series heavy duty marinised platform
which is expected to host 2 x 600kW of alkaline fuel cell
systems plus ammonia cracking technology within modular 40ft
containers.
-- International certification agency, DNV, has now awarded
"Approval in Principle" (or "AiP") status for the ZeroCoaster
ammonia fuelled cargo ship, confirming an independent assessment
that the ship's design is feasible and there are no obstacles
to the design being commercially realised.
-- VARD will now commence commercial discussions with prospective
customers for the purchase of new ammonia fuelled ships,
featuring AFC Energy's marinised fuel cell and cracker module.
The ZeroCoaster programme, coordinated by VARD, a major global
ship design and ship build company, aims to evaluate and present
zero emission ship design solutions using alternative maritime
fuelling systems, including Green Ammonia.
The Norwegian focussed ZeroCoaster coastal bulk cargo programme
further seeks to highlight novel zero emission solutions capable of
scaling and reconfiguring existing and new maritime
applications.
The programme, funded by the Research Council of Norway, is
being conducted using an already developed concept design for the
ZeroCoaster cargo ship prepared by VARD, but in this case, is
looking to develop design and engineering philosophies that will
enable the storage, handling and cracking of Green Ammonia fuel to
generate hydrogen which is then utilised within a zero-emission
alkaline fuel cell system supplied by AFC Energy for propulsion and
auxiliary power.
Norway has set targets to reduce emissions with 50% reductions
by 2030, with a growing national demand for zero emission vessels
along the Norwegian coast. With this focus, up to 1,100 zero
emission (or low emission) ships will be required in Norway alone,
with up to 450 bulk cargo ships required reflecting the ZeroCoaster
concept design.
AFC Energy has been working with VARD, ABB and ZeroCoaster
partners since June 2021 with the emphasis on integrating a
modular, containerised Ammonia cracker design from AFC Energy,
alongside the Company's proprietary high energy dense "S" Series
fuel cell technology to create a fully marinised power generator
fuelled by zero carbon Green Ammonia. The design is capable of both
retrofit and new build craft.
Green Ammonia has been highlighted as a key fuel to support the
decarbonisation of the global maritime industry with estimates
suggesting the fuel could be used to decarbonise up to 25-30% of
maritime fleets. As an alkaline fuel, adoption of AFC Energy
marinised alkaline fuel cell and cracker modules aim to enable a
highly efficient, low-cost power solution to displace incumbent
bunker fuel.
By using simulation-driven-ship design, VARD has developed
economic and technical key performance indicators for the adoption
of Green Ammonia and fuel cell technologies on ships.
DNV, one of the world's leading classification and certification
bodies in the maritime industry, and partner to the ZeroCoaster
programme, has now evaluated the design and integration of the
alkaline fuel cell module with in-built cracker and concluded that
the design complies with all relevant maritime rules, regulations
and standards.
Better known as "Approval in Principle" ("AiP"), DNV's positive
assessment of the ZeroCoaster design marks another key milestone in
unlocking the vast potential of Green Ammonia as a zero-emission
fuel within the maritime industry, alongside deployment of AFC
Energy's marinised, high energy dense fuel cell platform and
cracker module. The AiP confirms the design is feasible and that
there are no obstacles that could prevent the solution from being
realised.
Andreas Buskop, General Manager, Engineering at Vard Engineering
Brevik AS, said : "VARD has long shown leadership in maritime
design and innovation with a focus of accelerating the transition
to zero emission. We strongly believe in the role Green Ammonia
will play in supporting industry's aspirations to "go green", and
working alongside industry leaders in alkaline fuel cell
technology, AFC Energy, we are pleased to have gained confirmation
of our AiP from DNV, highlighting what we understand to be a world
first in ship design for ammonia fuel cell and cracker utilisation.
We now look forward to further working with AFC Energy in taking
this design to commercial fruition".
Adam Bond, Chief Executive Officer at AFC Energy, said: "The
maritime industry's increasing reliance on Green Ammonia as a
decarbonisation fuel lends itself perfectly to AFC Energy's high
energy dense alkaline fuel cell technology. Having worked in design
concepts for the past six months on the marinisation of our
integrated, heavy duty fuel cell and cracker technologies, we are
pleased to have been invited to partner with world leading ship
designers and builders such as VARD to highlight the potential for
the safe and compliant propulsion and auxiliary powering of cargo
ships as part of the ZeroCoaster project. Receipt of AiP from DNV
is simply a confirmation and validation of the role our technology
will play in supporting mariners to achieve stringent greenhouse
reduction targets".
For further information, please contact:
AFC Energy plc +44 (0) 14 8327 6726
Adam Bond (Chief Executive Officer) investors@afcenergy.com
Peel Hunt LLP - Nominated Adviser and Joint
Broker
Richard Crichton / Tom Ballard / Alexander
Allen +44 (0) 207 418 8900
M C Peat & Co LLP - Joint Broker
Charlie Peat +44 (0) 20 7104 2334
Zeus Capital Limited - Joint Broker
Daniel Harris (Corporate Finance)
Dominic King (Corporate Broking) / Rupert
Woolfenden (Head of Sales) +44 (0) 203 829 5000
FTI Consulting - Financial PR Advisors +44 (0) 203 727 1000
Sara Powell / Ben Brewerton afcenergy@fticonsulting.com
About AFC Energy
AFC Energy plc is commercialising scalable alkaline fuel cell
systems, to provide clean electricity for on and off grid
applications. The technology, pioneered over the past twelve years
in the UK, is now deployable in electric vehicle chargers, off-grid
decentralised power systems and data centre applications with
emerging opportunities across maritime and rail as part of a
portfolio approach to the decarbonisation of local electricity
needs.
About Vard Engineering
VARD boasts more than 8,000 employees worldwide, and operate
shipbuilding facilities in its home country of Norway, as well as
in Romania, Brazil, and Vietnam. VARD is majority owned by
Fincantieri Oil & Gas S.p.A., a wholly owned subsidiary of
FINCANTIERI S.p.A., one of the world's largest shipbuilding groups
that over its 200 years history has delivered more than 7,000
vessels.
As well as providing high-end design and engineering services to
the global maritime industry, through our specialized VARD
subsidiaries the Group create and develop an outstanding range of
advanced power and automation systems, deck handling equipment, and
vessel accommodation solutions. www.vard.com
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