AFC Energy opens first office in South Korea
Fuel cell power company AFC Energy has opened its first office in South Korea in partnership with Intralink, a provider of business development services.
Fuel cell power company AFC Energy has opened its first office in South Korea in partnership with Intralink, a provider of business development services.
Intralink, which delivers services to US and European companies targeting Asian countries including Korea, will offer its extensive knowledge of the region to AFC Energy through market development and sales support.
The partnership will help AFC Energy establish its presence in the region, maximise its reach and seize on market opportunities, the firm said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
South Korea is providing subsidies for electricity generated from fuel cells, representing an attractive opportunity for AFC Energy.
The venture will first build on existing relationships and develop new ones with prospective industrial and sector partners to supply power from AFC Energy's first fuel cell systems in Korea.
AFC Energy's Chief Executive Officer, Ian Williamson, said: "This is an exciting development and represents a major step in AFC Energy's growth as a business, following recent achievements including reaching a six-month electrode life and the delivery of our first system to ICL.
"During the rigorous process we followed prior to selecting Intralink, we were impressed by the company's ability to access key potential customers at the appropriate level in what is one of our key markets.
"Our foothold in South Korea gives us the capacity to find suitable companies who are ready to take advantage of the efficient power alkaline fuel cells provide. Thanks to the generous support available in South Korea for fuel cells we will be able to start maximising the return on the investment we have made to date."
Shares in AFC Energy rose 2.83% to 31.75p at 11:24 Wednesday.
RD
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published