Friday, 13 April 2012

UK #Waste2Tricity acquires exclusive UK deployment rights for use in energy-from-waste applications for AFC Energy PLC fuel cells in £1 million deal

Waste2Tricity, a structured solutions provider, today announced it has acquired the exclusive rights for AFC Energy Plc (AIM: AFC) hydrogen fuel cells for deployment in the UK energy-from-waste sector. The fuel cells will be used with hydrogen produced by high temperature gasification. The right of first refusal for additional territories, Europe and North America, is also secured.   

Waste2Tricity has agreed an Appointment Fee of £1 million, payable at pre-agreed intervals over the next four years. The first instalment of £150,000 will be paid immediately. Waste2Tricity‘s exclusivity is for an initial 10 years and subject to performance and additional payments this will be extended over a further 10 years.

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