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AFC Energy’s De Nora partnership boosted following testing successes

“AFC Energy and its shareholders have benefited greatly from our relationship with De Nora who have evidenced why they are market leaders in the electro-chemistry industry," said Adam Bond.

AFC Energy PLC - AFC Energy’s De Nora partnership boosted following testing successes
The agreement has been expanded

AFC Energy PLC (LON:AFC) has told investors that successful electrode performance testing results have strengthened its agreement with Industrie De Nora.

A new signing for the next phase of a joint development agreement (JDA) has now taken place and as a result, targets have been updated towards mass manufacture and commercial deployment.

It is expected that the targets are scheduled to be met within the first twelve months of the new agreement.

"Our collaboration with De Nora has delivered many successes over the past three years and it is with great excitement and anticipation that we have agreed to strengthen our commercial relationship through the extended JDA today,” said Adam Bond, AFC chief executive.

“AFC Energy and its shareholders have benefited greatly from our relationship with De Nora who have evidenced why they are market leaders in the electro-chemistry industry. 

“We look forward to working even more closely with De Nora and evolve the technical collaboration into a successful long-term commercial partnership with them."

Luca Buonerba, marketing and business development officer at De Nora, added: “Supporting the emergence of hydrogen as one of the enabling factors of the energy transition towards the full decarbonisation of the planet is a key growth driver for De Nora. 

“Our collaboration with AFC Energy is a key part of that strategy. 

“Over the past few years, De Nora has invested substantial resources into the development of a commercially viable alkaline electrode tailored to AFC Energy's requirements, exploiting the deep IP and know how deriving from our market leading position in other industries and decades of R&D. 

“The results achieved by the two teams over the past three years fully backs our collective investment in delivering a commercial electrode technology to springboard the emergence of AFC Energy's fuel cell technology into today's and tomorrow's energy market."

Quick facts: AFC Energy PLC

Price: 4.6 GBX

AIM:AFC
Market: AIM
Market Cap: £20.61 m
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