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Waste2Tricity International (Thailand) Acquires Exclusive Thai Deployment Rights for AFC Energy PLC Fuel Cells in £1.2 Million Deal

LONDON–Waste2Tricity International (Thailand) Ltd (W2TI(T)), the cutting edge structured solutions provider for the waste-to-energy sector, today announced it has acquired the exclusive rights for AFC Energy PLC (AIM: AFC) hydrogen fuel cells for deployment in the Thailand energy-from-waste sector. W2T already owns the deployment rights for the UK and has secured the right of first refusal for additional territories including Europe and North America.

W2TI(T) has entered into the licence agreement with AFC Energy, making the company the exclusive Thai agent for AFC’s revolutionary fuel cells for gasification of waste applications. Deployment of the commercial fuel cell will enable W2TI(T) to establish this viral technology in the Thai waste-to-energy market. Combined with Alter NRG’s Westinghouse Plasma Gasification Technology as the front end conversion, the AFC Energy fuel cells create a commercial model that will substantially outperform any other proposal. This model will allow W2T to revolutionise the Thai waste market, offering payment for waste feedstock instead of requiring suppliers to pay a gate fee.

The programme will therefore create a paradigm shift in the waste-to-energy market in Thailand and will enable W2T to establish market dominance with projects similar to the waste to the energy plant currently being built by Air Products in Tees Valley which is intended to be operational in 2014. W2T was instrumental in bringing together the parties for this project and identified both the Teesside site and the waste supplier for Air Products.

Piangkwan Thummukgool, Director of Waste2Tricity Ltd and Project Director of the Thailand programme said, “This is the beginning of our thrust into the burgeoning waste-to-energy market in Thailand. We have engaged with numerous waste suppliers and they are attracted by the commercial opportunity that our technologies provide. Our presence in Thailand is established and we will be accelerating our programme with the leading technologies for waste conversion and looking to create a hydrogen opportunity for the AFC Energy fuel cells. This programme will put Thailand at the forefront of both the Hydrogen Economy and of creating low carbon electricity opportunities, using indigenous feedstock to replace imported energy. Waste2Tricity is projecting the potential deployment of over 230 MW’s of fuel cells in the three projects currently in negotiation, with more in the pipeline.”

Ian Williamson, CEO of AFC Energy PLC said, “We welcome this ground-breaking relationship with Waste2Tricity International (Thailand) and the opportunity it affords for the early roll out of our fuel cell technology in to the waste-to-energy market. This licence is the second with Waste2Tricity, who have already secured the exclusive rights in the UK for waste to energy applications of the fuel cell involving gasification of wastes.”

Established in 2008, Waste2Tricity works with clients and partners to develop, fund and support EfW deployment projects that integrate proven plasma gasification and internal combustion engines/gas turbines (ICEs/GTs). Shareholders at the global waste solutions firm include Roman Abramovich’s Ervington Investments, who acquired a 10% share capital stake in November last year. Waste2tricty was actively involved with the $500 million Air Products Tees Valley Renewable Energy Facility (TV1), a 350,000 ton 50MW program utilising Alter NRG Westinghouse waste to energy project currently being built in Tees Valley and subsequently the announcement of TV2, a duplicate project adjacent to TV1.

Waste2Tricity

Waste2Tricity is a structured solutions provider for the waste-to-energy sector. Its shareholders include Ervington Investments (UBO Roman Abramovich), Age of Reason Foundation and Eturab, all of whom are substantial shareholders in AFC Energy and/or Alter NRG Westinghouse and represent approx. 30% of each company. For more information, visit Waste2Tricity at www.waste2tricity.com

October 31, 2013 - 12:24 PM Comments: Closed

AFC Energy Inks £1.2 million Thai commercialisation agreement with Waste2Tricity

AFC Energy plc (AIM: AFC), a fuel cell energy developer for industry, is pleased to announce that on 30 October 2013 it entered into a commercialisation agreement (the “Agreement”) with Waste2Tricity International (Thailand) Ltd (“W2T Thailand”), a majority owned subsidiary of Waste2Tricity Ltd (”W2T”), which grants W2T Thailand with exclusive long term rights for the application of AFC’s technology to the waste-to-energy market in Thailand.

The Agreement builds on a commercialisation deal for the UK market announced in April 2012 whereby W2T would promote and develop projects involving the integration of the Company’s fuel cell products with hydrogen derived from the gasification of municipal solid waste to generate renewable energy.

The Agreement will extend AFC Energy’s reach into the fast growing emerging markets of South East Asia, beginning with Thailand, where demand for electricity is forecast to grow by an estimated 4.4% per annum for the next 15 years1. Further, the volume of municipal waste generated due to rising living standards and population growth, is expected to increase by an estimated 3.5% per annum, to 20 million tonnes annually by 20222.

Under the terms of the Agreement, the Company will receive a non-refundable appointment fee of £1.2 million payable in stages over four years, as follows:

• £155,000 by 31 December 2013
• £55,000 by 31 March 2014
• £125,000 by 31 December 2015
• £185,000 by 31 December 2016
• £680,000 by 31 December 2017

W2T Thailand will be AFC Energy’s exclusive agent for an initial term running until 2024 in Thailand for securing fuel cell system supply contracts from projects where waste is gasified, from which AFC Energy expects to derive further revenues. W2T Thailand will receive a commission of 33%, subject to a deduction of an amount equal to the price of all products and services supplied by AFC Energy pursuant to contracts in respect of which such commission is payable.

AFC Energy and W2T have collaborated closely since the UK agreement was signed to target and develop waste-to-energy opportunities at home and abroad.  W2T was established to initiate waste-to-energy projects using the most economically viable technologies available. W2T selected AFC Energy’s fuel cell systems as being potentially the most efficient technology for generating electrical power from gasified waste.

Ian Williamson, Chief Executive of AFC Energy, said: “This agreement is an excellent example of our continuing close relationship with Waste2Tricity. We have been looking at countries around the world where we expect to see the greatest return for our shareholders and waste-to-energy in Thailand shows great promise. The energy needs of the southern Asian countries are expected to continue growing rapidly in the coming years and this is an example of how AFC Energy plans to commercialise and embed its technology in key energy markets worldwide. This is not an overnight process but we are putting in the relationships and preparing for our initial projects as they are delivered by Waste2Tricity.”

John Hall, Managing Director of W2T, said: “We have actively targeted and prioritised Thailand and the ASEAN economies for waste-to-energy projects over the past two years. We are now in advanced discussions with potential local partners to develop a pipeline of projects in Thailand and assess opportunities elsewhere. So today’s agreement comes at an exciting time both for W2T and AFC Energy and we believe this agreement will open a  significant market that will benefit both companies in the years ahead.”

The Agreement constitutes a related party transaction under the AIM Rules for Companies, as the Age of Reason Foundation, which is a substantial shareholder in AFC, and its associated entities, control more than 30% of W2T.  The Directors of AFC, having consulted with the Company’s nominated adviser, Allenby Capital Limited, consider that the terms of the Agreement are fair and reasonable insofar as the shareholders of AFC Energy are concerned.

October 31, 2013 - 7:45 AM Comments: Closed

Neah Power Systems Expands Global Footprint, Announces Office in New Delhi, India

Neah Power Announces Appointment of Dr. Pramod Shukla as Engineering Fellow With Focus on Deploying Technologies Across Indian Sub-Continent

BOTHELL, Wash. – Neah Power Systems, Inc., (NPWZ) a developer of award-winning energy technology, announced today that Dr. Pramod Shukla has joined Neah Power Systems as an Engineering Fellow. Dr. Shukla has offices at Bothell, WA and is establishing an office on behalf of the Company in New Delhi, India.

Dr. Shukla has over twenty years of increasing, high level responsibilities in program, people, and technology transfer with the Defense Research and Development Organization (DRDO) of India, and has served as the Counselor, Science and Technology, for the Government of India to the Embassy of India in Moscow, Russia. Prior to that, Dr. Shukla was a Captain in the Indian Navy.

Dr. Chris D’Couto, President and CEO of Neah Power Systems stated, “We are privileged to have a person of Dr. Shukla’s stature join Neah Power. Dr. Shukla will focus on the commercialization and deployment of Neah’s technologies for defense (especially underwater) applications as well as commercial opportunities in the Indian sub-continent.”

Dr. Shukla stated, “I am pleased to be part of the team deploying a unique and compelling technology that not only serves unmet needs for defense applications, but also the fast-growing consumer and commercial markets in India and other worldwide opportunities.”

About Neah Power

Neah Power Systems, Inc., (NPWZ) is an innovator of cutting-edge power solutions for the military, transportation and portable electronics industries. Neah Power’s long-lasting, efficient, and safe solutions include patent-pending micro fuel cells that enable higher power densities in compact form-factors at a lower cost, and that run in aerobic and anaerobic modes. Neah Power was a 2012 ZINO Green Finalist, 2010 WTIA Finalist, and 2010 Best of What’s New Popular Science Award. Contact Neah Power at (425) 424.3324 ext-108 or info@NeahPower.com. Hitman, Inc. is Neah Power’s Agency of Record.

October 31, 2013 - 6:27 AM Comments: Closed