AFC Energy (LSE:AFC), a company specializing in hydrogen power generation technologies, unveiled its new subsidiary, Hyamtec, on Wednesday. This wholly-owned entity has been established to commercialize AFC Energy’s advanced distributed ammonia cracking technology.
The AIM-listed company aims to speed up the adoption of cost-effective and scalable hydrogen generation solutions through Hyamtec. This approach is intended to facilitate industrial decarbonization without necessitating extensive new infrastructure.
Ammonia crackers are crucial for converting ammonia into hydrogen-rich fuel gas, which can then be used across various industrial applications. AFC Energy has invested years into developing modular and compact ammonia crackers with the help of a specialized team of industry experts.
Hyamtec’s technology has shown versatility, integrating seamlessly with ammonia combustion engines and hydrogen purification systems for fuel cell applications. The subsidiary will focus on delivering affordable, on-demand hydrogen production for both industrial and mobile uses.
Hyamtec’s target markets include decarbonizing industrial heat generation, converting ammonia for large-capacity combustion engines in power generation, marine, and mining sectors, and producing modular, purified hydrogen for fuel cells and transportation.
By creating Hyamtec as a separate entity, AFC Energy aims to enhance the commercialization process and improve flexibility in securing financing for the subsidiary’s expansion. Dr. Mike Rendall, currently the chief technology officer of AFC Energy’s hydrogen processing division, will lead Hyamtec as managing director. With over 25 years of experience in hydrogen generation technologies, Dr. Rendall is expected to drive the subsidiary’s strategic goals.
Gary Bullard, CEO of AFC Energy, highlighted that the global shift towards net-zero emissions is creating a strong demand for innovative hydrogen solutions. He emphasized that ammonia cracking is becoming a vital technology for industries seeking to decarbonize. Bullard expressed enthusiasm about Hyamtec’s potential to offer scalable solutions that could significantly reduce hydrogen costs for industrial use without the need for extensive new infrastructure.
The establishment of Hyamtec is seen as a strategic move to capitalize on AFC Energy’s ammonia cracking technology, opening up new growth opportunities both domestically and internationally. Bullard invited strategic partners and supporters to join in accelerating the adoption of hydrogen technologies and advancing the next phase of industrial decarbonization.
As of 1445 BST, AFC Energy’s shares had decreased by 2.56%, trading at 12.25p.