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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.
If I was cynical, I'd say this news was held back to coincide with the Capital Markets Day! Bond trying for another pump?
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".. 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
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."
Why wouldn't you hold it back? Surely, in this instance, realistic rather than cynical.
AFC are perfectly within their rights to announce this whenever they want to, in agreement with Illuming Power obviously.
Maybe you should take your own advice investmentpro! You bring nothing to this board except sycophancy and abuse.
I thought price sensitive news had to be released as soon as it's know about!?
It's not deemed to be price sensitive by the advisers. It's a Reach announcement
Fair point Snork. Thanks for the qualification.
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’
"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.
Well said.
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?
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.
How could one not be cynical having held AFC shares for years, joaung? The way the company communicates with shareholders is atrocious. Smoke and mirrors in the extreme.
If this satisfies all foreseeable demand for the next five years, whither Germany?
Snork. Germany is discussed as the finished product assembly location.
Snork. Was on his LinkedIn feed a few weeks ago. Pictures of AFC guys in Germany visiting potential contract manufacturers in Germany.
Yes, I saw that. But that was potential and this is actual. Are they the same thing?
Very encouraging news, as a side note ..does this new manufacturing deal replace any chance that DeNora, in Italy, would be involved.?
Beachandsurf,
De Nora are already involved with our electrodes mass manufacturing. I don't think they do fuel cell assembly, do they?
There is no exclusivity with Illuming Power, so it's open for other manufacturers including the one I suggested, Thyssenkrupp .
Note the word 'FIRST'...
"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."
Thyssenkrupp
https://www.thyssenkrupp-automation-engineering.com/en/automotive-industry/electric-motor-assembly/fuel-cell
It's not exclusive but it does say that it can satisfy foreseeable demand for five years so it sounds like it's intended to be exclusive, effectively