August 4, 2021

New Ventures in Renewable Energy Generation Partnerships

2 min read

Renewable energy is required to provide a sustainable energy solution for the future. While the general market is making strides towards a fully renewable energy market, many parties in the market proceed to provide small timely upgrades. Such companies include AFC Energy that focuses on the production of renewable energy. However, AFC energy recently announced its joint venture with fellow renewables giant Ricardo.

The partnership between the companies aims to develop the renewable energy transport industry to develop the nations’ critical infrastructure system. The partnership has the potential to provide a chance for growth in the market with additional employment opportunities for the wage market. The company will also offer an extensive range of services and products to take advantage of its fuel cells to help validate its offering.

The two partners will take advantage of the current low-cost, sufficient ammonia fuel to replace its hydrogen gas. This shift is ideal for the market as the company announced its transition from hydrogen due to its costly production nature. However, it aims to look into the availability of better, more efficient energy sources for its operations. Likewise, the companies will look into the idea of using ammonia as an option for export into the international energy market and selling to other consumers as well.

According to the company AFC Energy Adam Bond, the company is excited about the new venture citing that the collaboration will stage the company among the top renewable energy companies. Further information states that the venture hopes to solidify itself into the market among companies that require energy to increase its production capacity to combat fossil fuel reliance in the market.

Ricardo’s group’s strategy and transformation Director, Mike Bell, affirmed that the company is working with other parties in the industry like Original Equipment Manufacturers following the integration of net-zero technologies. Further information from the company comes from the need for better, more efficient alkaline energy generation systems to cater to the additional requirements.

There’s a lot of speculation toward the opportunity that lies behind the partnership having potential toward generating more revenue while solving the issues realized by current players in the market. The two companies have already submitted proposals to Ricardo clients, addressing a particular client needs pertinent to grid instability and the need for zero-emission alternative power. Further collaborative opportunities will be identified in 2021 across key markets.

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