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Pin to quick picksAFC Energy Share News (AFC)

Share Price Information for AFC Energy (AFC)

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Share Price: 16.22
Bid: 16.40
Ask: 16.56
Change: -0.58 (-3.45%)
Spread: 0.16 (0.976%)
Open: 16.82
High: 17.88
Low: 16.00
Prev. Close: 16.80
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AFC Energy chooses Illuming Power as manufacturing partner

Wed, 08th May 2024 14:20

(Sharecast News) - Hydrogen power generation technology specialist AFC Energy announced the selection of North American manufacturer Illuming Power as its primary producer of fuel cell plates and stacks for its 'S Series' air-cooled platform.

The AIM-traded firm said it had signed a strategic supply agreement (SSA) with Illuming, focusing on the large-scale production of S Series air-cooled fuel cell plates and stacks.

Illuming, leveraging its international network, would undertake a multi-year programme aimed at delivering fully assembled and commissioned S Series fuel cell plates and stacks.

The components would be seamlessly integrated into H-Power Generator modules.

AFC said the SSA aligned with its strategy of low capital outsourced contract manufacturing.

Orders for completed S Series stacks had already been initiated, with Illuming following the recent qualification of components and demonstration of production quality.

"Illuming Power is a valued partner of AFC Energy with over two years of collaborative work with us in supporting stack design and delivery," said chief executive officer Adam Bond.

"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."

At 1358 BST, shares in AFC Energy were up 2.84% at 20.16p.

Reporting by Josh White for Sharecast.com.

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