AFC Energy Share News (AFC)

AFC Energy, an industrial fuel cell company, and plant operator Industrial Chemicals (ICL) have been awarded a European Union grant of up to six million euros for the installation of the world's largest alkaline fuel cell energy plant at ICL in Essex.The grant is subject to final negotiation and, subject to agreement, is expected to be in place to enable the project to commence during Spring 2013. If concluded satisfactorily, AFC Energy will co-ordinate the project and expects its direct share of the project funding to be up to €3.0m (£2.45m) with the balance to be received by the other project partners.AFC Energy's low cost alkaline fuel cell system will be installed in stages at the ICL-owned and operated chemical facility and is eventually expected to generate approximately 1MWe (one mega watt of power is sufficient energy to power 500 homes). CM