AFC Energy (LON:AFC) has agreed its first commercial power deal for its new facility at Stade in Germany.
At 240Kw capacity, Stade is the world’s largest industrial alkaline fuel cell plant.
German utility Stadtwerke Stade will take power from the facility initially until July 2017, with an option to extend for a further year.
Electricity sales under the power purchase agreement will be the first commercial revenue AFC has earned from one of its fuel cell systems.
Prices will broadly reflect spot market prices, allowing AFC potentially to benefit from the sale of power at peak power pricing.
Adam Bond, chief executive, said the commercial power purchase agreement was a further clear indication of AFC’s move towards commercialisation.
“It is an important part of our corporate strategy to work collaboratively with local partners in our projects and support local economies wherever possible, which makes this deal all the more important for AFC.”
Christoph Born, Stadtwerke Stade’s managing director, added: “This project has the potential to be a catalyst for larger scale fuel cell deployment programmes across the country."