logo-loader
viewAFC Energy PLC

AFC Energy teams up with Extreme E to fuel emission-free rally championship in 2021

"This collaboration with AFC Energy is a game-changer, not just for Extreme E, but also to the wider sports and events industry," said Extreme E founder and chief executive Alejandro Agag

AFC Energy PLC -

AFC Energy PLC (LON:AFC) is getting into the zero-emission motorsport business by teaming up with Extreme E, the team behind FIA’s Formula E racing championship.

Extreme E is planning a hydrogen-fuelled electric SUV rally racing series that is slated to launch in early 2021, and AIM-quoted AFC will provide off-grid power to the racing series - including its zero-emission charging system.

READ: AFC secures funds for manufacturing and ramp-up H-Power

Races are planned next year for Greenland, Saudi Arabia, the Amazon and other locations, with the races themselves to take place over a weekend and be held in remote locations with little infrastructure.

The series is designed to be a practical and symbolic showcase with the off-road race events taking place in remote locations which, according to AFC, will highlight important climate issues and also show how hydrogen can be used as a viable alternative fuel all environments.

AFC will engineer a novel off-grid Green Hydrogen generation and storage system which will allow the championship to produce its own self-certified green race fuel pre-race. By-product water will be used on location.

The relationship starts with an initial one-year contract, with a down-payment due to AFC upon formal order of equipment.

"We are honoured to have been selected by Extreme E in such a world-class motor racing championship, designed to highlight not only the true potential of electric vehicle SUVs in some of the harshest environments on Earth, but also the need to raise public awareness of the debilitating impact climate change is having on our ecosystems," Adam Bond, AFC chief executive said in a statement.

"AFC Energy's Hydrogen fuelled H-PowerTM system is designed to provide a viable, flexible, sustainable power generation alternative to the diesel generator, and our collaboration with Extreme E affords an important global platform to highlight that robust, innovative alternatives to diesel gensets exist in the market today and through the adoption of distributed Hydrogen generation, are available to support the decarbonisation of incumbent off-grid power systems.”

Extreme E founder and chief executive, Alejandro Agag added: “Motorsport is often associated with a high detrimental footprint on the environment through event infrastructures, but we are trying to change that, and this collaboration with AFC Energy is a huge step in the right direction."

"This collaboration with AFC Energy is a game-changer, not just for Extreme E, but also to the wider sports and events industry which could also benefit greatly from using this innovative, zero-emission charging technology.

“AFC Energy is the leading provider of Alkaline Fuel Cell systems for the generation of clean energy. It has developed a wide range of technologies to enable sustainable off-grid power generation, which is easily transportable, offers high efficiency, and emits water, which we can utilise elsewhere on-site, as its only by-product,” Agag added.

--Adds interview and Extreme E race series details--

Quick facts: AFC Energy PLC

Price: 17.2 GBX

AIM:AFC
Market: AIM
Market Cap: £116.27 m
Follow

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of AFC Energy PLC named herein, including the promotion by the Company of AFC Energy PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

AFC Energy's Adam Bond hails first commercial deal as it teams up with Extreme E

AFC Energy PLC's (LON:AFC) Adam Bond caught up with Proactive London's Andrew Scott after announcing its first commercial deal - a collaboration with Extreme E, the team behind FIA’s Formula E racing championship. Extreme E is planning a hydrogen-fuelled electric SUV rally racing series that is...

on 15/7/20

3 min read