AFC Energy PLC (AIM:AFC, OTC:AFGYF) CEO Adam Bond speaks to Thomas Warner from Proactive after the hydrogen fuel cell technology provider announced the acquisition of hydrogen storage and distribution assets that were owned by Octopus Hydrogen.
Bond explains that the
deal is a unique and novel move in the UK market, presenting an end-to-end
solution covering hydrogen production, distribution, and fuel cell generators.
Despite enduring reservations about entering the capital-intensive hydrogen
logistics industry in a major way, Bond justifies the acquisition as a short-term
move that allows the company to capitalize on a great opportunity.
The purchase, agreed at
what he calls "a semi-opportunistic basis", supports AFC's ongoing
work in displacing diesel generators and thereby contributing to the country's decarburization
efforts. Bond envisions potential collaboration with emerging third-party
logistics providers, foreseeing a symbiotic relationship in the evolving
hydrogen sector. The news follows the announcement last week of the launch of a
50:50 joint venture with Speedy Hire PLC (LSE:SDY), Speedy Hydrogen Solutions
(SHS).
The collaboration
announced in July and now formalized under the SHS banner, aims to revolutionize
the temporary power industry by transitioning from diesel to sustainable
hydrogen generators.
https://finance.yahoo.com/news/afc-energy-takes-short-term-152623221.html