(Alliance News) - AFC Energy PLC on Tuesday said it has completed a continuous year of operation of its fuel cell electrode and is likely to meet its longevity target.
Shares in hydrogen power generation technology firm AFC were up 2.3% at 4.76 pence in London in afternoon trade.
The electrode was "developed in partnership with Industrie De Nora SpA" and, after 12-month operation, is set to achieve electrode life expectancy for continuous use operations of more than 4 years.
The 4-year electrode lifetime, AFC said, would be consistent with the "targeted commercial longevity necessary to drive down cost of power" as well as achieving a power conversion cost of less than USD0.10 per kilowatt hour, excluding the cost of fuel.
During the year-long test period, electrode degradation improved with time.
AFC and Industrie De Nora are still developing the electrode technology and expect to further improve electrode performance and cut cost.
AFC Chief Executive Adam Bond said: "The role of hydrogen within the global energy mix is now moving towards mainstream and the opportunities for hydrogen to displace fossil fuels in the energy mix is ever increasing with the introduction of hydrogen fuelled power. These results today signify a step change in electrode performance and further validate our decision to partner with De Nora as a key partner of the AFC Energy technology team. We are excited about the new generation of ever improved electrodes being developed by our teams and continue to believe AFC Energy will be a key player in the hydrogen economy as we continue to focus our efforts on deployment in key markets such as EV charging and stationary diesel generation displacement."
AFC Energy (AFC)