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AFC Energy plans late May return to premises as it aims to meet rising customer demand

There has been no slowdown during coronavirus pandemic and key business areas are seeing an increased level of interest from customers

AFC Energy PLC - AFC Energy plans late May return to premises as it aims to meet rising customer demand

AFC Energy PLC (LON:AFC) has told investors it is advancing plans for its teams to return to their offices towards the end of May.

In a statement, the group said key teams in the AFC business - science, engineering and manufacturing - have seen no slow down due to the coronavirus (COVID-19) pandemic and they are actively responding to new project development opportunities. No AFC staff were furloughed.

READ: AFC Energy raises £1.4mln in share sale

It noted that it previously made arrangements so that certain staff members who were unable to work from home could access their offices and labs. The continued efforts of many staff members have ensured the continuity of validation work in AFC’s labs and manufacturing activities over these past few months, the group said.

These efforts helped mitigate impacts that COVID-19 may have otherwise had on the business, it added.

The company also said it has seen a rise in the number of commercial enquiries for its H-Power system driven predominantly by growing public awareness associated with an improvement in air quality and a reduction in pollution.

In particular, it noted an increase in interest from construction companies seeking to address pollution caused by diesel generators along with emission reduction regulations which are set to be active from September 2020.

AFC has seen interest for full system purchases, plant hire, commercial-scale tests, and distribution partnerships.

It also noted that it is seeing strong government and industrial commitment towards large scale stimulus packages where fiscal commitment to green energy, air quality, pollution reduction and electric vehicle charging will further enhance new commercial opportunities for AFC Energy across its stated key markets.   

“We have committed to do all things necessary to successfully mitigate the risk to health and safety during this time,” AFC said in the statement.

“We are pleased to hear that most of our supply chain have remained responsive over the past few months and are for the most part now returning to their offices to the extent possible.” 

Quick facts: AFC Energy PLC

Price: 17.638 GBX

Market: AIM
Market Cap: £119.23 m


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