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Share Price: 23.20

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AFC Energy Says First KORE Fuel Cell System Operational In Germany

Mon, 03rd Aug 2015 08:41

LONDON (Alliance News) - AFC Energy PLC on Monday said it has now commissioned and started operation of its first KORE fuel cell power system at Stade in Germany.

"Today marks one of the proudest moments in AFC's history. For the first time, the company's research and development programme of the past decade has commenced commercial operations. This is a remarkable achievement delivered in record time and in a first class collaborative effort across all involved," said Chief Executive Adam Bond.

AFC said the start of the first KORE system at the site gives it further confidence in the delivery of the second phase of work at the project, under which it will start selling power to the German grid through its power purchase agreement with Stadtwerke Stade GmbH, signed last week.

AFC shares were up 4.9% to 59.25 pence on Monday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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