Shares in AFC Energy PLC surged by 15% following the announcement of a joint venture with Industrial Chemicals Group aimed at producing low-cost hydrogen from ammonia. This partnership, based on a 50:50 collaboration, will leverage AFC's cracking technology to break down ammonia into hydrogen and nitrogen using heat and catalysts. Ammonia is highlighted as a more convenient and cost-effective means of storing and transporting hydrogen, making it an efficient carrier for hydrogen supply. The initiative will kick off with AFC's pilot plant and compression system, with future expansion plans involving Hy-5 units capable of producing 500kg of hydrogen each day. Anticipated revenues from the venture are set for early 2026, pending regulatory approvals. The ultimate objective is to undercut current hydrogen prices and establish a competitive route for the UK's clean energy deployment, without relying on government subsidies, by tapping into existing ammonia infrastructure. Peel Hunt, a prominent voice, praised the joint venture as a strong validation of AFC's proprietary cracking technology, highlighting the significance of attracting Industrial Chemicals Group, one of the UK's major independent chemical manufacturers and distributors. As a result of this positive development, AFC's shares rose by 1.18p to 16.78p.