AFC Energy aims data centre market with ABB support
In addition to the ABB data centre deal, AFC has now completed and closed the fundraising, which was oversubscribed and raised gross proceeds of around £36 million.
AFC Energy has announced (16th April) that ABB Schweiz AG signed a new agreement for entering the global data centre market as well as invested £ 3.25 million in AFC Energy to strengthen the e-mobility partnership.
Under the new signed Development Agreement, both partners will test, design, and integrate AFC Energy’s alkaline fuel cell technology into ABB’s data centre system portfolio. This will ensure to provide a zero-emission power solution for data centres globally.
ABB has been providing design and electrical solutions for the data centres for over 25 years, including the world’s largest hyperscale data centre. Data centres are now highly keen on exploring ways to become carbon neutral. The use of hydrogen-based fuel cells in the data centre can be one of the ways to achieve carbon neutrality goals.
Both partners will look at various aspects of data centres, including power design principles and system operability. They will also review interfaces between fuel cell, energy storage, electrical equipment, switchgear and control infrastructure.
The work will involve testing using real-time data centre simulation techniques. The project is expected to be conducted throughout this year which would also involve the data centre participations.
Following the demonstration project, the AFC alkaline fuel cell system will become a key part of ABB data centre technologies offerings.
Frank Muehlon, Head of ABB E-mobility Infrastructure Solutions, said, “AFC Energy’s goals to deliver clean energy solutions perfectly align with ABB’s commitment to innovation and enabling low carbon societies, making them an ideal solution partner.”
Brian Johnson, Global Data Centre Leader at ABB, said, “Embarking on this new collaboration with AFC Energy opens the possibility to integrate its impressive fuel cell technology with ABB’s strong data centre solutions.”
Adam Bond, Chief Executive Officer at AFC Energy, said, “We continue to receive strong customer enquiries into our partnership from all over the world, confirming we are working with the right partners, on the right technology, at the right time to support society’s accelerated drive towards a more sustainable world.”
ABB Schweiz AG has also invested £ 3.25 million into AFC Energy following the signing of commercial and product development of e-mobility agreement in December 2020. The partnership agreement allowed AFC Energy to supply H-PowerTM fuel cell systems to ABB’s high power EV charging network of international customers where customer or site power demands are absent or require further resilience.
In addition to ABB investment, Dutco Group, a Dubai-based conglomerate, has also subscribed for £ 1.5 million of new shares, resulting in 7.36 million new shares in total. Further to this, AFC has also placed 46.9 million shares with institutional investors, which resulted in a further £ 30.25 million.
