AFC Energy has signed a Joint Venture Agreement (JVA) with Speed Hire to form a dedicated hydrogen-powered generator plant hire business, Speedy Hydrogen Solutions (SHS).
The 50:50 JVA will provide exclusive access to AFC Energy’s H-Power generators across the UK and Irish markets, with first year H-Power generator sales of up to £4.7m ($5.8m) expected to be phased into SHS over the first contract year.
Speedy Hire will on-hire the H-Power generators on a three-year exclusive basis, with AFC Energy also agreeing to sell the generators and services to SHS under a Supply and Maintenance Agreement (SMA), which will include the procurement and sale of hydrogen fuel, site surveys, and technical and operational support to Speedy and its customers.
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