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AFC Energy higher as it confirms 2022 release plans for HydroX-Cell(S) fuel cell system

The hydrogen power specialist said the first full commercial scale prototype of the system will commence manufacture in June this year

AFC Energy PLC - AFC Energy confirms 2022 release plans for HydroX-Cell(S) fuel cell system

AFC Energy PLC (LON:AFC) has said its HydroX-Cell(S) fuel cell system remains on target for initial release in 2022 following successful development works this year.

The hydrogen power generation specialist said designs have been engineered for the first full commercial scale prototype system, which will commence manufacture in June and build on positive results achieved both at laboratory scale and single-cell commercial-scale testing.

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

AFC also said that its internal capacity to produce HydroX-Cell(S) electrodes has increased and a pilot fabrication process for the production of membrane electrode assemblies (MEA) is under development.

Meanwhile, the firm added, new, heavy motive applications such as shipping and rail have continued to demonstrate “strong interest” in the HydroX-Cell(S) technology, and it has recruited new members of staff to its development team.

The company also noted recent reports around ammonia as a “highly efficient carrier of hydrogen for heavy motive applications” and said its HydroX-Cell(S) system is capable of utilising hydrogen derived from ammonia without further clean-up or the creation of nitrogen oxide (NOx) emissions.

"With [coronavirus] lockdowns worldwide bringing the unintended, yet beneficial improvement in air quality, now more than ever there is a drive from Government and industry towards a sustainable power and transportation sector where Hydrogen has a clear role to play", AFC chief executive Adam Bond said in a statement.

"The HydroX-Cell(S) system has been the subject of much interest since the beginning of the [coronavirus] lockdown, both for its ability to be fueled by low-grade hydrogen, such as that derived from ammonia, but also for its prospective ability to operate free from platinum group metals.  Through early engagement with OEMs and prospective industry partners on our market-leading anion exchange membrane technology, we continue to believe the market for an alkaline high-power density fuel cell is vast, further validating progress in this area”, he added.

AFC's shares rose 2.2% to 23p in late-morning trading on Thursday.

--Adds share price--

Quick facts: AFC Energy PLC

Price: 21.45 GBX

AIM:AFC
Market: AIM
Market Cap: £123.11 m
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AFC Energy PLC's (LON:AFC) Adam Bond speaks to Proactive London's Andrew Scott after announcing they're to test its alkaline H-Power fuel cell technology at one of construction group ACCIONA's sites in Spain. ACCIONA is one of Spain's renewable energy leaders as well as being a construction...

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