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Gold/Mining/Energy : Alter NRG

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From: TheSlowLane	11/8/2012 9:24:05 AM
	of 262

AFC Energy boosted by EU grant for new Essex power plant Wed 8:13 am by Philip Whiterow The chlor-alkali plant will manufacture chlorine and caustic soda with the hydrogen waste produced used by AFC’s fuel cell system to produce power. AFC Energy (LON:AFC) and partner ICL have been awarded a €6 mln EU grant to install the world's largest alkaline fuel cell energy generation system in Essex. The new plant will be installed in stages at ICL's chlor-alkaline chemical plant and is eventually expected to generate approximately 1MWe (one mega watt of power, enough energy to power 500 homes). The award is being funded by the Fuel Cells and Hydrogen Joint Undertaking (FCH-JU) and will provide four years' financial support for the project. AFC Energy will coordinate the project and expects its direct share of the project funding to be up to €3 million (£2.45 million) with the balance to be received by the other project partners. The chlor-alkali plant will manufacture chlorine and caustic soda, with the hydrogen waste produced to be used by AFC’s fuel cell system to produce electricity. The project is expected to create a significant number of UK jobs in the long term. Ian Williamson, chief executive, said: "We are delighted that European funding has been identified to support this important project. I believe that this will help put European fuel cell technology and innovation on a global stage.” He added it was a perfect opportunity to demonstrate the cost effectiveness of its fuel cells compared with other forms of power generation. “Globally around 1.4 million metric tonnes of hydrogen is produced by the chlor-alkali industry alone of which 15% is vented or flared when our technology could readily help the environment as well as create economic value.” proactiveinvestors.co.uk

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