ABB orders AFC Energy fuel cell system
There is an urgent need for cost-effective, fast charging that are not grid-connected.
ABB has ordered the first AFC Energy S Series fuel cell system for high power e-Mobility charging at a contract value of £4 million.
The agreement fast tracks AFC Energy’s high energy-dense S Series anion exchange membrane (AEM) technology, with delivery now expected ahead of schedule. The final system would have a capacity of 200 kW and be capable of hydrogen and ammonia fuelling and will be in the 10-foot shipping container (excluding ammonia cracker).
In December 2020, AFC Energy and ABB signed their first partnership agreements to create the next generation of high power sustainable electric vehicle (EV) charging solutions for grid constrained locations, using AFC Energy’s zero-emission fuel cell technology.
To further align the interests of ABB and AFC Energy, ABB has been granted warrants to subscribe for 6,802,720 Ordinary Shares in AFC Energy at an exercise price of 58.8 pence. They are linked to receipt by AFC Energy of milestone payments under the Sale and Development Agreement, including the £2 million receivable upon signing.
Frank Muehlon, President of ABB’s E-mobility Division, said, “We believe AFC Energy’s new high power-dense, zero-emission, hydrogen fuel cell system to be an important part of our solution that will allow us to make EVs accessible to everyone and further promote sustainable e-Mobility globally.”
Adam Bond, CEO of AFC Energy, added, “We believe our new S Series fuel cell platform will become the ‘go to’ high-performance fuel cell technology capturing multiple fuelling strategies, whilst affording best in class AEM power density and efficiency”.