AFC Energy opens Korean Office
February 27, 2013
Partnership with Intralink to focus on market development and sales
AFC Energy (AIM: AFC), the industrial fuel cell power company, is pleased to announce that it has opened its first office in South Korea in partnership with Intralink Ltd, a leading provider of market access and business development services to US and European companies targeting China, Japan, South Korea and Taiwan.
Intralink will use its extensive knowledge of the region and high level contacts to provide AFC Energy with market development and sales support in one of its key target markets, East Asia. The partnership will help AFC Energy establish a firm presence in the region, maximise its reach and seize on the potentially substantial market opportunity there.
South Korea is one of the countries currently providing subsidy for electricity generated from fuel cells and as such represents an attractive early opportunity for AFC Energy.
The venture’s first objective is to build on existing and develop new relationships with prospective industrial and sector partners and to supply power from AFC Energy’s first fuel cell systems in Korea.
AFC Energy’s CEO, Ian Williamson, commented: “This is an exciting development and represents a major step in AFC Energy’s growth as a business, following recent achievements including reaching a six-month electrode life and the delivery of our first system to ICL.
“During the rigorous process we followed prior to selecting Intralink, we were impressed by the company’s ability to access key potential customers at the appropriate level in what is one of our key markets.
“Our foothold in South Korea gives us the capacity to find suitable companies who are ready to take advantage of the efficient power alkaline fuel cells provide. Thanks to the generous support available in South Korea for fuel cells we will be able to start maximising the return on the investment we have made to date.”
afcenergy.com |
