Speedy and AFC Energy plan JV offering hydrogen-based plant hire

AFC Energy, which supplies hydrogen-powered generators, and equipment hire services company Speedy Hire are planning to launch a dedicated hydrogen-powered generator plant hire business.
It will provide the UK construction and temporary power market with zero emission temporary power solutions designed specifically for the off-grid power market.
The collaboration will take the form initially of AFC Energy providing Speedy with its existing H-Power Tower Generators on a cross-hire basis on commercial terms.
The two companies then intend to form a 50:50 joint venture which would provide a full-service hire model coordinating the generator equipment, maintenance, technical support, site preparation and fueling.
Once established, the JV will initially purchase 30kW H-Power Generators from AFC Energy for a consideration of £2 million in aggregate. The first of these systems are expected to be available later this year. Beyond this initial commitment, Speedy and AFC Energy plan to increase orders for H-Power Generators in line with the expected growing demand for zero emission power across the UK construction and temporary power market.
Adam Bond, Chief Executive, AFC Energy, said: “The pressure to deliver zero emission power on construction sites here in the UK and overseas has seen strong growth in demand for AFC Energy’s H-Power Generators. Our collaboration with Speedy builds on the successful H-Power Tower launch last year and subsequent field-based deployments, many of whom are customers of Speedy, making our proposed collaboration all the more relevant.”

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