AFC Energy PLC - Surrey, England-based provider of hydrogen-powered generator technology - Acquires ‘certain’ UK mobile hydrogen storage and distribution assets from Octopus Hydrogen, part of Octopus Energy Ltd, for an undisclosed sum. Says these assets provide immediate logistics capability to supply hydrogen fuel to its growing network of H-Power Generators across the UK, and strengthen its leading position as the dominant UK hydrogen supplier ‘to support industry’s transition to a sustainable off-grid power solution’. Acquisition includes two NanoSun Pioneer mobile hydrogen refuelling stations and a hydrogen compressor for refilling. AFC says the assets will support Speedy Hydrogen Solutions, its recently announced joint venture with Speedy Hire. Adds that it does not intend to become a ‘capital intensive’ provider but that early investment in well-priced assets will enable it to derive incremental revenue and support the maturing hydrogen generator market.
Current stock price: 15.97 pence, up 9.2% on Friday in London
12-month change: down 11%
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