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Share Price Information for AFC Energy (AFC)

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Share Price: 18.44
Bid: 18.24
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Change: -0.06 (-0.32%)
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Open: 18.48
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AFC Energy touring potential customers in electric vehicle roadshow

Mon, 03rd Feb 2020 14:15

(Sharecast News) - Hydrogen power generation technology company AFC Energy announced the start of the 'Dunsfold to Dundee Dash' on Monday, which it described as a 500-mile hydrogen-fuelled electric vehicle (EV) charger roadshow across the UK.
The AIM-traded firm said the roadshow would begin at its Dunsfold head office in Surrey, and end in Dundee, Scotland.

It said the event would highlight the "benefits and capability" of its latest off grid, zero emission 'H-Power EV Charger', launched in December last year.

The event would cross the UK from south to north, stopping at various stakeholder and partner functions along the way where interested parties - including local governments, industrials, national parks, heritage trusts, and property developers - would have the opportunity to witness the operation of its off-grid EV charger unit, and explore the potential for deployment in local applications.

The first stop on the roadshow would be on 4 February at Rotherham's Advanced Manufacturing Park, where AFC Energy was being hosted by land and property regeneration company Harworth.

AFC said the park was one of Harworth Group's flagship developments, and was home to global manufacturers including Rolls-Royce and Boeing.

Technology developed at the park was currently used in a "diverse range" of projects and applications, which the board said could make use of its hydrogen-based solutions.

The roadshow would end on 20 February at Michelin Scotland Innovation Parc (MSIP), where AFC Energy had been invited to participate in the site's 'Innovation in Scotland's Energy Storage Industry' event.

In the interim, the company said it would meet and demonstrate the system to schools, partners, and other commercial interest to see the charger in operation, with a view to better understand how hydrogen and fuel cells could be used as an "important element" of the UK's decarbonisation strategy.

The car for the event - a Tesla Model S 75D - would drive the 500 mile journey from Dunsfold to Dundee with charges to the 72.5kWh battery coming from the company's hydrogen-fuelled EV charger unit, without emission of any greenhouse gases.

That, the board said, would further demonstrate how range anxiety in electric vehicles could be overcome without the expected material investment in the national grid or local distribution networks.

"This is a proud moment for the AFC Energy team," said chief executive officer Adam Bond.

"Following the successful launch of our EV charger unit in December last year, and the vast array of enquiries we are now in discussions to advance, the national roadshow was always the next layer of proof in demonstrating the possibilities of our zero-emission EV charger system."

Bond said the ambitious deployment of EV charging in the UK and across Europe was "already beginning to bite", with real life case studies highlighting the risk the existing grid posed to the deployment of a fleet of decarbonised private and light commercial electric vehicles.

"Technologies such as AFC Energy's hydrogen fuelled EV charger are good for investors, the environment and for [the] UK in securing our energy future."

At 1359 GMT, shares in AFC Energy were unchanged at 19.2p.
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