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SFC Energy signs 'Make in India' Agreement and launches EFOY Hydrogen Platform with its Cooperation Partner FC TecNrgy in India

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DGAP-News: SFC Energy AG / Key word(s): Agreement
SFC Energy signs 'Make in India' Agreement and launches EFOY Hydrogen Platform with its Cooperation Partner FC TecNrgy in India
19.04.2022 / 07:30
The issuer is solely responsible for the content of this announcement.

SFC Energy AG - Press release

SFC Energy signs "Make in India" Agreement and launches EFOY Hydrogen Platform with its Cooperation Partner FC TecNrgy in India

Brunnthal/Munich, Germany, April 19, 2022 - SFC Energy AG (F3C:DE, ISIN: DE0007568578), a leading supplier of hydrogen and methanol fuel cells for stationary and mobile hybrid power solutions, reaches another milestone in its communicated growth strategy. As part of the further internationalization of its business, SFC Energy signs the "Make in India" agreement today with its longtime partner FC TecNrgy Pvt Ltd (FCTec).

"Make in India" is an initiative of the Indian government to encourage companies to manufacture and sell their products in the domestic market. SFC Energy has already been cooperating with its partner FCTec since 2014 and will from now on jointly manufacture all components of its EFOY Hydrogen and EFOY Methanol fuel cells as well as energy solutions also in India.

The EFOY Hydrogen 2.5 is a modular hydrogen fuel cell solution that meets the highest demands of professional users. As an emission-free replacement for diesel generators, the EFOY Hydrogen offers an innovative solution to a wide range of user industries that can be easily adapted to any application. Compared to a conventional diesel generator, for example, a 5 kW hydrogen fuel cell energy solution saves up to 45.6 tons of CO2 based on an assumed annual demand of 43,800 kilowatt hours (kWh). This corresponds to the driving performance of a diesel-powered car of about 250,000 kilometers.

The product portfolio will be available in a power range from currently 50 kW to perspectively 500 kW. SFC Energy is thus tapping into the great potential of a dynamically growing market for environmentally friendly power generation solutions.

Most recently, India's Prime Minister Narendra Modi reaffirmed the country's ambitious climate protection targets. By 2070, India is aiming for net zero emissions and a 45% cut by 2030. The use of green hydrogen as an energy carrier will play a decisive role in this. The National Hydrogen Energy Mission is a broad-based program to promote this, with an estimated investment of USD 44 billion by 2030.

"We want to expand our presence in India and contribute our deep expertise in hydrogen and related technologies to achieve the ambitious climate protection targets. We are grateful and honored for the opportunity to contribute to this objective. EFOY fuel cells enable efficient and emission-free power generation for a wide power range and numerous applications. Together with our long-term partner FCTec we share the vision of a climate-neutral industrial society and the conviction to be a success factor of the global energy transition," says Dr Peter Podesser, CEO of SFC Energy AG.

"We are very proud to be one of the first Indian companies to implement and drive the National Hydrogen Energy Mission with a German partner. In our many years of cooperation, we have so far received consistently positive feedback for our solutions from users in a wide range of industries and are convinced that we can add another chapter to this success story," says Colonel Karandeep Singh (retd.), Managing Director of FC TecNrgy Pvt Ltd.

For more information on SFC Energy's Clean Energy and Clean Power Management solutions, visit sfc.com.


About SFC Energy AG
SFC Energy AG is a leading provider of hydrogen and methanol fuel cells for stationary and mobile hybrid power solutions. With the Clean Energy and Clean Power Management business segments, SFC Energy is a sustainably profitable fuel cell producer. The Company distributes its award-winning products worldwide and has sold more than 55,000 fuel cells to date. The Company is headquartered in Brunnthal/Munich and operates production facilities in Germany, the Netherlands, Romania, and Canada. SFC Energy AG is listed on the Deutsche Boerse Prime Standard (GSIN: 756857, ISIN: DE0007568578).

SFC Press Contact:
Jens Jüttner
Tel. +49 89 125 09 03-32
Email: jens.juettner@sfc.com
Web: sfc.com

SFC IR Contact:
Susan Hoffmeister
Tel. +49 89 125 09 03-33
Email: susan.hoffmeister@sfc.com
Web: sfc.com


19.04.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

SFC Energy AG

Eugen-Sänger-Ring 7

85649 Brunnthal-Nord

Germany

Phone:

+49 (89) 673 592 - 100

Fax:

+49 (89) 673 592 - 169

E-mail:

ir@sfc.com

Internet:

www.sfc.com

ISIN:

DE0007568578

WKN:

756857

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1328789


 

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