AFC Energy's hydrogen fuel cell to be showcased at flying taxi airport
One of its hydrogen batteries will be used to charge Air One’s fleet of electric vehicles
Company
LON:AFC
AFC Energy plc is a leading innovator in hydrogen-based power and ammonia cracking solutions, delivering clean energy for on-grid and off-grid applications. The company's hydrogen fuel cell technology provides a sustainable alternative to diesel power generation, supporting electric vehicle charging, decentralised power systems for construction, and temporary power needs.
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One of its hydrogen batteries will be used to charge Air One’s fleet of electric vehicles
The physical footprint of its sites is said to be 60% smaller than a traditional heliport and can be installed in a matter of days with zero carbon emissions
The 'Power Tower EV' is specifically designed for EV charging
The tower is specifically designed for electric vehicle (EV) charging
The construction industry and other users of temporary power are coming under heavy pressure to reduce emissions, with this new product range aimed to help them decarbonise
"We believe investors can play a role in overcoming the energy challenges that have been intensified by the Russian invasion. This can best be done, in our view, through a diversified approach"
Peel Hunt reiterated its ‘buy’ recommendation for the company and gave it a 195p price target
The two companies have “outlined a roadmap” for further system deployments later in the year
The alkaline fuel cell systems specialist reported commercial agreements in hand worth £5mln, and an increased pipeline in EV charging, construction, temporary power and datacentre power
"The regulatory platform and political will to address climate change has never been stronger"
The HFC system, AFC's first, will be built in the UK before being shipped to Spain.
AFC will again power all of the racers in the five rallies this year
UK based Urban-Air Port secured new funding from Hyundai's 'air mobility' division
The company said it “is now confident that it affords maximum optionality to its customers in fuelling in a way that no other fuel cell technology can”
"I believe that AFC Energy is a young, energetic and growing company," said Monika Biddulph, who is also a non-executive director of Ilika and D4t$ Solutions.
"The maritime industry's increasing reliance on Green Ammonia lends itself perfectly to AFC Energy's high energy-dense alkaline fuel cell technology“
Swiss partner ABB has also subscribed for £4mln of warrants for AFC shares
A demonstration was given by the company of hydrogen can be used to generate off-grid power to charge all the Extreme E electric race vehicles
The technology "has already proved to be a game changer", says founder and chief executive of Extreme E, Alejandro Agag
Air-One is the first of 65 electric vertical take-off airports planned
It teamed up last December with the Swedish-Swiss engineer to develop plug-in points for grid-constrained locations
A glance at some of the day's highlights from the Proactive Investors newswire
The hydrogen power specialist also said discussions are currently underway for a strategic collaboration in the maritime sector
Driver Catie Munnings, who races for the Andretti United team, was on hand to show the Prince how to get the best out of the series’ electric race vehicle
Harvey has led fuel cell performance and durability projects for the US Department of Energy and the European Union fuel cell initiative.
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The data centre market currently consumes a mind-boggling 2% or so of worldwide power demand
Gary Bullard will succeed John Rennocks, who has retired from the board following the company's AGM on Wednesday
Teams consisting of a male and female driver will compete in some of the world's toughest terrains
The MOU signing comes ahead of the Extreme E off-road rally series that starts in Saudi at the weekend
AFC will provide its proprietary, zero-emission, hydrogen fuel cell technology to power the vehicles
The hydrogen power specialist said the partnership with Mace Group is aiming to support a transition from diesel generators on construction sites to zero-emission hydrogen power
Its equipment’s ability to accept low grade, cheaper hydrogen sources - especially ammonia is one of its strongest competitive advantages.
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The National Audit Office said that despite over £1bn being invested to encourage the take-up of ultra-low emission cars, carbon emissions from vehicles “have not reduced in line with government’s initial expectations”
The company's Anion Exchange Membrane Fuel Cell test facility has now been fully fitted.
A handful of hydrogen stocks are identified in the report as having soared by more than 1,300% on average over the last two years
Mike Rendall has worked on prototypes for the conversion of ammonia into electricity, a technology being developed by AFC
The government today announced £84.6mln of investment, including two hydrogen-powered aerospace projects in the UK
It is an interesting idea - a motor racing championship to promote clean power generation
The fuel cell developer is placing itself at the forefront of the growing hydrogen power market, forecast to be worth around US$2.5trn by 2050
Ricardo and AFC will seek to create unique alkaline fuel cell products and service offerings that have commercial benefits across the marine, rail and stationary power generation markets
The agreement is its first strategic collaboration with a global original equipment maker (OEM) if the scale of ABB, said AFC
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The ‘Green Hydrogen Catapult’ initiative reckons lowering the price will make hydrogen the fuel of choice in many sectors
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The newly created role will see Thomson take on day-to-day responsibility for the company's Communications & Investor Relations programme
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The new facility is located adjacent to AFC's Surrey headquarters on Dunsfold Park.
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Other ideas include investing more than £2.8bn in electric vehicles charging points as the sale of new petrol and diesel cars and vans will be banned from 2030 and hybrid vehicles by 2035
"We look forwards to delivering on our partnership with BK Gulf and in working with their team in taking our fuel cell system to market", said chief executive Adam Bond
"All leading indicators that 2021 is expected to be a strong year for the company as it continues to provide an important solution to the world's decarbonised energy needs," said chief executive Adam Bond
The hydrogen power specialist is working with Extreme E and all of its announced racing teams to provide zero emission E-SUV charging for each race event across five strategic locations internationally
The AlkaMem membrane is already being provided to several industrial and academic institutions in Europe under material supply agreements for trials within the field of alkaline water electrolysis
Forschungszentrum Jülich, one of Europe’s largest research centres, will deploy the company's system at its Living Lab Energy Campus showcase
"We anticipate that in the second half we will continue to make large strides forward," said chief executive Adam Bond
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Hardware & electrical equipment
A number of AIM-listed companies in the sector including AFC Energy and Ceres power have seen their share prices soar since January
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"This collaboration with AFC Energy is a game-changer, not just for Extreme E, but also to the wider sports and events industry," said Extreme E founder and chief executive Alejandro Agag
Adam Bond, AFC’s chief executive said several new institutions had subscribed to the placing
AlkaMem has been successfully scaled up in size within a commercial-sized fuel cell.
Each company will contribute to the cost of conducting the field trial.
The hydrogen power specialist said the first full commercial scale prototype of the system will commence manufacture in June this year
There has been no slowdown during coronavirus pandemic and key business areas are seeing an increased level of interest from customers
That bandwagon has long departed, according to broker Canaccord, which looks at the beneficiaries of this transformation
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A glance at some of the day's highlights from the Proactive Investors newswire
WH Ireland analyst Brendan Long described the company as being “on a positive trajectory” supported by equity funding.
It is the fuel cell firm's latest response to protect its business during the crisis
Despite the outbreak, the company said it was “seeking to maintain momentum” following the successful launch of its H-Power systems over recent months
Since it demonstrated its H-Power system on a roadshow, AFC has received a lot of enquiries about the technology
“The next twelve months will see a concerted effort focussed on the sale and deployment of fuel cell systems into key markets."
“Graeme's highly regarded commercial experience, particularly in the temporary and off-grid power markets will be a key contributor to AFC Energy's current commercial focus"
"The global power market is changing, and changing fast,” said Adam Bond, AFC chief executive.
“Technologies such as AFC Energy's hydrogen fuelled EV charger are good for investors, the environment and for UK in securing our energy future”
AFC will be granted exclusive rights in the UK, Europe and Australia to use HiiROC’s technology, which extracts hydrogen from methane without emitting CO2
The placing follows a £1mln investment on Monday from one of AFC’s institutional investors
The issue price represents a discount of 20% to the volume-weighted average price of 21.28p on Friday
“It is a privilege to have been recognised in such an illustrious setting as the Motor Show and play a small part in this new leadership role as we advance into a new era of highway electrification,” said CEO Adam Bond
The funds were raised through a subscription of 2.6mln shares, most of which went to a single institutional investor
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AFC Energy is working on four products using the alkaline method, including fuel cells, hydrogen power systems and an anionic exchange membrane programme that can be employed in several industrial processes
Testing by Industrie De Nora, an Italian electrode and electrolyser developer, said AlkaMem "exceeded internal expectations" for alkaline water electrolysis, a process which produces hydrogen
The firm said one advantage of HydroX-Cell(S) is that it is capable of accepting low grade, low cost hydrogen to generate power, unlike PEM, which requires higher, more expensive grades
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A glance at some of the day's highlights from the Proactive Investors newswire
The new product lines include H-Power, a group of hydrogen power systems including an off-grid electric vehicle charger to be released next month
AFC has also signed an agreement with an international manufacturing group to assess an ammonia-to-power off-grid platform
AFC and partner Multi Source Power will showcase CH2ARGE which is due for launch later this year.
“Gerry brings an extremely high caliber of commercial and technological acumen to the business and reflects the state of our company that we can attract such talent," AFC Energy chairman John Rennocks said.
“AFC Energy and its shareholders have benefited greatly from our relationship with De Nora who have evidenced why they are market leaders in the electro-chemistry industry," said Adam Bond.
The fuel cell developer's Italian De Nora has begun scaling up its manufacturing facility in advance of anticipated large-scale electrode orders
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“The productisation of AFC Energy's fuel cell system is now well underway,” said Adam Bond.
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Hardware & electrical equipment
AFC has moved closer to ordering flow plates for system deployment. The latest generation flow plate will form a key performance enhancing component of AFC's product range
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“Since announcing our first prototype EV charging unit, we have continued to see growing interest in the compelling story of zero emission, off grid EV charging where we are seeking a clear early mover advantage,” Adam Bond said.
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A glance at some of the day's highlights from the Proactive Investors newswire