AFC Energy jumps on Bangkok Industial agreement

Shares in AFC Energy jumped over 10% on Tuesday, as alkaline fuel-cell systems developer signed a heads of agreement with Bangkok Industrial Gas Co to start a programme of commercial fuel-cell deployment.The London-listed company said it 10 megawatt of installed AFC fuel cell capacity will be developed in three separate phases, with full project expected to be online by 2018.AFC added that, along with Bangkok Industrial Gas, it will evaluate the possibility of a joint venture for the development of an initial fuel cell facility in Thailand."The country has long been identified as an important location for AFC, both in terms of the market for fuel cells, but also as a possible location for long term manufacturing and fabrication," said group chief executive Adam Bond.AFC shares were up 11.10% to 45.55p at 11:02 on Tuesday.