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The important bit is that mass manufacturing HAS BEGUN. This milestone is often seen by big investors as the time step up investment in a company, hence AFC inviting Illuming to present to the ii's and sell side analysts today.
"Under a multi-year programme, Illuming, through its international network, will deliver completed and commissioned S Series fuel cell plates and stacks for installation into H-Power Generator modules."
"Illuming, and its partners, have the ability to meet all air cooled stack requirements for H-Power Generators foreseen over the next 5 years."
"Orders for completed S Series stacks have already been placed with Illuming based on recent qualification of components and evidence of production quality."
Garonne,
You are cynical, no ifs about it.
You seem utterly shocked and gutted with this good news. Almost as if you’re concerned your short positions will be blown away.
Although the statement from Illuming was obviously made before May! I guess as Daz has said, it just confirms that the orders for Speedy are being ramped up. I guess that's good but will it stimulate the SP?
Well said.
"We welcome the opportunity to support AFC Energy in its targeted growth strategy and look forward to meeting AFC Energy's investors at the Company's Capital Markets Day in May"
That is why it was announced today.
It’s not even news worthy, progress on delivery of the £2m Speedy order yes, but that’s being done in house, this is just ‘we’ve been working with this supplier for years and have given them an order’
Fair point Snork. Thanks for the qualification.
It's not deemed to be price sensitive by the advisers. It's a Reach announcement
I thought price sensitive news had to be released as soon as it's know about!?
Maybe you should take your own advice investmentpro! You bring nothing to this board except sycophancy and abuse.
AFC are perfectly within their rights to announce this whenever they want to, in agreement with Illuming Power obviously.
Why wouldn't you hold it back? Surely, in this instance, realistic rather than cynical.
Illuming Power to Scale S Series Fuel Cell Plate and Stack Manufacture
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AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, is pleased to announce the appointment of North America's Illuming Power ("Illuming") as the Company's first scaled manufacturer of fuel cell plates and stacks for its S Series air cooled platform.
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Highlights:
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Illuming and AFC Energy sign Strategic Supply Agreement ("SSA") for large scale production of S Series air cooled fuel cell plates and stacks.
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Under a multi-year programme, Illuming, through its international network, will deliver completed and commissioned S Series fuel cell plates and stacks for installation into H-Power Generator modules.
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Illuming is currently delivering high quality fuel cell plate components to AFC Energy's design and specification utilising the latest low cost production techniques.
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Illuming, and its partners, have the ability to meet all air cooled stack requirements for H-Power Generators foreseen over the next 5 years.
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SSA is fully consistent with AFC Energy's low capital outsourced contract manufacturing strategy
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Orders for completed S Series stacks have already been placed with Illuming based on recent qualification of components and evidence of production quality.
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Over 140 million kilometres have been driven on Illuming fuel cell stacks in the global automotive sector, evidencing its quality and ability to scale with demand.
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Jeff Plato, President and Chief Executive of Illuming Power, said:
"We are pleased to be entering into this long term Strategic Supply Agreement with AFC Energy to support the growth in demand for its H-Power Generator platform into a scalable production product. We have been working with AFC Energy over a number of years now and believe the market for decarbonised generators in the off-grid and backup power markets highlights a near term, sizable global market in which to pursue, lending itself well to third party manufacture. We welcome the opportunity to support AFC Energy in its targeted growth strategy and look forward to meeting AFC Energy's investors at the Company's Capital Markets Day in May.
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Adam Bond, Chief Executive of AFC Energy, said:
"Illuming Power is a valued partner of AFC Energy with over two years of collaborative work with us in supporting stack design and delivery. Their experience in stack build, both in prototype and commercial applications with thousands of stacks currently in operation across the global hydrogen market today, makes them a reliable and trusted supplier to AFC Energy. Their experience, alignment with our business model, and investment in their own growth trajectory, makes Illuming a key partner to AFC Energy's success."
"If I was cynical".. where did that come from.. sometimes we just have to laugh at what you say..
If you had a glass it would be half empty.. you have nothing to bring to this board other than cynicism and negativity.
If you really have some shares why not just sell them and f...off
Of course they all do it but still good news, positive and shows that the demand is there and into the future.
If I was cynical, I'd say this news was held back to coincide with the Capital Markets Day! Bond trying for another pump?
And Stack Manufacture
AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, is pleased to announce the appointment of North America's Illuming Power ("Illuming") as the Company's first scaled manufacturer of fuel cell plates and stacks for its S Series air cooled platform.
Should be news very soon on Top manufacturing & assembly partners selection that meet 1000+ production of Hydrogen Generators criteria laid down by Afc Energy. All experienced in Top Quality component manufacture & assembly processes. Bringing significant cost savings to Afc Energy of over 70% .
Should be news very soon on mass manufactures & assembly agreements able to meet targets of 1000+ Generators. Stipulated in bidding process . Enabling over 70% cost reductions.
Who started a post with such a ridiculous title
Please stop replying on it.
Styfulgroeth? Anyone want to have a guess?
This government are a joke they styfulgroeth in new companies. Because the thick idiots have no forsight (Apart from lining their own pockets ).
It's bad enough when most of the posts are spam, but do we really need 500 characters of spam in the subject too !
Daz .
This is why the government won't give higher feed in tariff
The United Kingdom government generated a revenue of some 35.4 billion British pounds from energy taxes in 2022.
I carnt wait for the Moduler Hydrogen Cracker to hit the market. It will be fantastic for Afc & it's shareholders.