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 launch of its 50:50 joint venture with Speedy Hire PLC (LSE:SDY), Speedy Hydrogen Solutions (SHS).
The collaboration, announced in July and now formalised under the name SHS banner, aims to revolutionise the temporary power industry by transitioning from diesel to sustainable hydrogen generators.
Bond outlined the industry shift away from diesel, with major infrastructure committing to eliminating diesel generators by 2029. AFC's role is to support this transition, providing hydrogen generators to SHS, which will then lease them to Speedy and its customers.
Bond highlights the positive reception to the JV and initial revenue projections of at £4.7 million in the first year, primarily from generator sales.
Bond sees this deal as a culmination of AFC's efforts in commercialising its technology throughout the year. While positioning itself as a leader in the hydrogen generation market, AFC has also attracted global interest, reflecting the potential of its technology.