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AFC Energy shares jump as it inks deal with electric vehicle charging point specialist

AFC and Rolec Services hope to showcase the first demonstration product in the second half of the year

car charging point
The ultimate aim of the collaboration is to create an integrated system for sale across Rolec's existing and AFC emerging network of EV charging distributors and customers

AFC Energy PLC (LON:AFC) shares rose on Tuesday after the firm revelaled it has signed a deal with one of Europe’s largest manufacturers of electric vehicle (EV) charging points to create systems using AFC's fuel cell technology.

The AIM-listed group and Rolec Services hope to showcase the first demonstration product in the second half of this year.

READ: AFC Energy surges after unveiling technology breakthrough

The ultimate aim of the collaboration is to create an integrated system for sale across Rolec's existing and AFC emerging network of EV charging distributors and customers.

AFC chief executive Adam Bond said: “Our collaboration with Rolec is a recognition of the industry's desire to explore off grid EV charging solutions to meet a need already seen across several of Rolec's local and international clients. 

“AFC Energy's EV charger is now one of our key markets for revenue generation and gives us an early mover advantage in penetrating the off-grid market."

In afternoon trading, AFC Energy shares were 8.6% higher at 3.40p.

 -- Adds share price --

Quick facts: AFC Energy PLC

Price: 4.45 GBX

AIM:AFC
Market: AIM
Market Cap: £19.94 m
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