AFC Energy announce the signing of a strategic partnership with ABB. The suite of agreements that underpin the strategic partnership consist of a Commercialisation and Marketing Agreement and a Joint Product Development Agreement. The Commercialisation and Marketing Agreement will focus efforts on the joint marketing and deployment of integrated high power EV charging systems across key ABB markets including: Private vehicle hubs; Charge point operators; Logistics hubs and distribution centres; Public and private urban transportation (including bus depots); Marine (including port and marina charging); and Vertical Take off and Landing Craft (VTOLs).

Under the agreements, AFC Energy is afforded a Right of First Refusal across multiple years, to supply H-PowerTM fuel cell systems into ABB's high power EV charging network of international customers where customer or site power demands are absent or require further resilience. Both companies will jointly market the integrated product across the key addressable markets and will collaboratively develop a communications strategy for system branding and deployment. The Joint Product Development Agreement ("JPDA") defines the activities to be undertaken jointly by ABB and AFC Energy in designing principles of system operability, proof of concept testing and productization ready for customer sales.

The final stage of work under the JPDA is expected to be competed in the second half of 2021. The JPDA will deliver a fully autonomous, high power EV charging system capable of deployment in the UK, Europe, United States and elsewhere, building on the system launched by AFC Energy in December 2019 and showcased across the UK earlier this year.