Industrial fuel cell power company AFC Energy has signed an agreement with a Dubai company that will see a large-scale deployment of its fuel cells across the Middle East.
The the company is now set to reach, or even surpass, its one gigawatt initial deployment target with just one deal.
The UK technology firm, which has been pioneering a new fuel-cell system for use in power plants, has signed a heads of agreement with DNR Industries Ltd., part of the leading Dubai-based investment and project developer, Dutco.
The aim is to form a joint venture between the two companies to execute the plan commencing in the first half of 2016. The deal will see AFC’s fuel cell across the United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait.
AFC believes it could present an opportunity on its own to deliver a large percentage of, if not in excess of, AFC’s stated target for 1GW of fuel cell development by the end of 2020.
Dutco and AFC are already in dialogue with several of the Middle East’s largest energy and utility groups to deliver clean power to the region, but also significant quantities of clean water.
AFC’s chief executive Adam Bond, said: “We believe the business potential for the AFC fuel cell in this region is one of the largest in
the world.
“The potential to work in collaboration with a group with the regional stature as Dutco presents a significant opportunity to not only leverage highly complementary skills sets and characteristics of the two companies, but also create a sizeable business platform for the deployment of the AFC fuel cell on an unprecedented scale.”
Surrey-based AFC Energy is approaching commercialisation for its proven low-cost alkaline fuel cell system, which converts hydrogen into ‘clean’ electricity at Stade, in Germany and is the world’s largest alkaline fuel cell system operating at an industrial facility selling power into the country’s national grid.
