- AFC Energy
- 24 April 2024 10:20:15
Source: Sharecast
The AIM-traded firm said the ‘L’ series hydrogen power generator was successfully used at all five races in the inaugural 2021 season to power the ‘Odyssey 21’ race vehicles in a number of harsh conditions, including in Saudi Arabia, Senegal and Greenland.
It said the new contract would see the fuel cell system again being rented to Extreme E on commercial terms, and used to generate power for all of the race vehicles at each of the five rounds in the 2022 season, which would include races in South America for the first time.
The series would also welcome veteran motorsport constructors McLaren for 2022, with the first race of the new season taking place at the planned ‘smart city’ Neom in Saudi Arabia later in February.
AFC Energy said its involvement in Extreme E provided an “important platform” to demonstrate its sustainable energy system to global representatives from industry and off-grid power users seeking to address the evolving transition from diesel fuelled power.
“We are delighted to be extending our collaboration with Extreme E into 2022,” said chief executive officer Adam Bond.
“The inaugural race season enabled us to demonstrate the possibilities of AFC Energy's zero-emission power generators while operating in high pressure, high-profile and extreme environments.
“This world-first showed what can already be achieved in moving the world to zero-emission technologies.”
Bond said the use of AFC’s fuel cell by Extreme E last year “prevented a significant amount” of carbon dioxide from being emitted into the atmosphere.
“This contract is just one in a strong pipeline of system sales and lease opportunities which will underpin future revenue growth as we seek to capitalise on our position to displace diesel generators within the next decade.”
At 1002 GMT, shares in AFC Energy were up 11.16% at 37.85p.
