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05 August 2014

Intralink Strikes Deal in Korea’s Renewable Energy Market

Oxford, UK — Intralink client AFC Energy Plc, the fuel cell maker backed by Russian billionaire Roman Abramovich, today announced that it has entered into a Heads of Agreement with South Korean power plant owner Daniel Inc. to install its systems in a deal worth up to $15 million.

AFC develops industrial-scale alkaline fuel cells which take advantage of waste hydrogen created in the industrial energy and chemical industries to produce clean energy. Once the agreement is ratified with a formal contract, AFC will deploy an initial 1-megawatt fuel cell unit receiving a $1.25 million deposit. The contract will include an option for a follow-on order for a 3-megawatt system at a second site that would take potential sales to about $15 million.

AFC established a local presence in Korea through Intralink's Surrogate Sales Program™, which provided them with abilingual business development team, high level industry contacts, and a physical office in Seoul. Intralink Korea Managing Director Sean Blakeley said “This is the second of two very significant announcements for AFC in Korea this week. We have also overseen the signing of an MOU with Chang Shin Chemical Co. for multiple systems with a total potential generating capacity of up to 5-megawatts. We are delighted to be supporting AFC at what is an extremely exciting time for this technology”.

Korea has put in place ambitious regulations that require electricity suppliers to obtain an increasing percentage of their primary energy supply from new and renewable energy sources each year, starting at 2 percent in 2012 and increasing to 10 percent in 2024. AFC Energy CEO Ian Williamson said “Korea is taking a global lead in clean energy which has resulted in a very real opportunity for us in this market. We are delighted to have secured these latest agreements with the support of Intralink and their bilingual team in Seoul.”

About Intralink Intralink develops and implements strategies for China, Japan, Korea and Taiwan. Through its signature Surrogate Sales Program™, Intralink provides its clients with a low risk, cost effective and practical means to generate new and incremental revenues in these markets as an underpin towards establishing a permanent presence. Founded in 1990, the company is headquartered in the UK and has offices in Silicon Valley, Shanghai, Tokyo, Seoul and Taipei. For more information visit www.intralinkgroup.com.

About AFC Energy Founded in 2006, AFC Energy plc is re-engineering proven alkaline fuel cell technology to reduce the cost of electricity. Alkaline fuel cells have been used on US and Russian manned space missions for decades to provide electrical power and drinking water. By using platinum free, advanced materials, design tools and manufacturing processes at scale, AFC Energy is developing fuel cells that will compete with conventional technologies such as turbines for electrical power generation. Today, AFC Energy is pursuing opportunities in several sectors where hydrogen is readily available including the chlorine, clean coal and waste-to-energy industries as well as applications for distributed/back-up power. For further information, please visit our website: www.afcenergy.com.



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