(NewsDirect)
AFC Energy PLC (AIM:AFC, OTC:AFGYF) CEOAdam Bond speaks to Thomas Warner from Proactive after the hydrogenfuel cell technology provider announced the acquisition of hydrogenstorage and distribution assets that were owned by OctopusHydrogen.
Bond explains that thedeal is unique and novel move in the UK market, presenting anend-to-end solution covering hydrogen production, distribution, andfuel cell generators. Despite enduring reservations about entering thecapital-intensive hydrogen logistics industry in a major way, Bondjustifies the acquisition as a short-term move that allows the companyto capitalise on a great opportunity.
The purchase, agreed at what he calls "a semi-opportunisticbasis", supports AFC's ongoing work in displacing dieselgenerators and thereby contributing to the country'sdecarbonisation efforts. Bond envisions potential collaboration withemerging third-party logistics providers, foreseeing a symbioticrelationship in the evolving hydrogen sector. The news follows theannouncement last week of the launch of a 50:50 joint venture withSpeedy Hire PLC (LSE:SDY), Speedy Hydrogen Solutions (SHS).
Thecollaboration, announced in July and now formalised under the SHSbanner, aims to revolutionise the temporary power industry bytransitioning from diesel to sustainable hydrogengenerators.
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