Sign up
Tech Capital

AFC Energy gears up for commercial push of fuel cell technology

AFC and De Nora are working on extending the life of the electrodes to four years
chemical plant
Hydrogen from chemical plants has been AFC 's focus so far

Hydrogen fuel cell group AFC Energy plc (LON:AFC) will focus on the commercialisation of its technology over the next twelve months.

Adam Bond, chief executive, said the company has appointed FTI Consulting to carry out a review and go-to-market strategy.

READ: AFC Energy focused on slashing cost of hydrogen power

This review will also identify other potential sectors where integrated fuel cell power systems can be used to cut electricity costs.

Results from integrating partner De Nora's manufactured electrodes were encouraging even though the design of the fuel cell stack had taken longer than hoped, Bond said.

AFC and De Nora are working on extending the life of the electrodes to four years, at which point the cost of producing electricity drops substantially.

On the research side, AFC said it had now integrated its fuel cell technology with hydrogen derived from a third-party ammonia cracker under the EU ALKAMMONIA programme;

Another EU-funded programme, POWER-UP in Stade, Germany, had concluded with AFC Energy receiving its latest funding entitlement in June.

Over the current year, Bond said AFC wants to finalise terms for the fuel cell installation just announced with Southern Oil in Australia; agree the fuel cell deployment programme at Dunsfold Park and sign a mass manufacturing agreement with De Nora.

Losses for the year to April were £2.75mln (£2.69mln) with cash of £4mln at the year-end.

PhilW.jpg


Register here to be notified of future Company articles
View full profile View Profile
View All

© tech Capital 2018

Tech Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed tech companies to interact with institutional and highly capitalised investors.
Headquartered in London, Tech Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Technology market.