WH Ireland view25 Feb 2021 10:13
The following is an update from WH Ireland in response to the RNS. I like the bit about attracting world class partners who will bear the capital costs (MPO take note):
WHI View: AFC is delivering on the aggressive guidance it set out in relation to the progress of its high density solid fuel cells. The Alkamem® product is also being advanced at an impressive pace in our view and we note the CEO’s comments, indicating the unique qualities of its alkaline technologies. For reference, AFC Energy’s technologies allows for low-grade, low-cost hydrogen to be used as a fuel. Combined, the unique attributes of AFC Energy’s technologies allow the company to attract best-in class industry partners with strong balance sheets to carry the bulk of the capital costs required to scale up production. We believe this strategy will have the effect of maximising shareholder returns. We note that both the Alkamem® and the HydroX-Cell(S) will open up new and substantial markets for AFC Energy going forward.