AFC Energy’s partnership with Kier Group underlines its growing credentials in the construction site space, according to house broker Peel Hunt.
Kier will be its fourth contractor customer for hydrogen-powered generators, AFC announced this morning.
It is one of the top three UK construction companies with an already established commitment to reduce its net carbon emissions.
Since 2014, Kier has reduced in scope 1 and 2 emissions by 66% with a target to use only electric vehicles and have net-zero offices by 2030.
"Partnering with AFC Energy and evaluating its emission-free fuel cell power systems, specifically designed for use on construction sites looks to be a natural fit for this strategy," said the broker.
AFC already has similar partnerships with Acciona in Spain, Keltbray and Mace.
"As construction companies source the vast majority of their on-site power generator equipment from plant hire companies, AFC Energy is also keen to encourage these renters to buy its emission-free generators".
Peel Hunt has not changed its prices and target or recommendation on the back of the Kier partnership, with a buy stance and 195p target compared to a market price of 23.8p today.