Just been tipped !!!24 Jul 2020 15:44
AFC Energy: the next hydrogen powerhouse? We think so
AFC Energy (LON: AFC), the developer of hydrogen power generation technologies, issued interim results for the 6 months ended 30 April 2020 which suggested plenty of promise, but we will need to wait a while longer for any revenue.
The period brought the launch and demonstration of its Electric Vehicle charging solution and development of a project with Extreme E, the world's first all-electric off road rally championship for a bespoke H-Power unit. AFC Energy is making a big play towards the EV charging sector.
At the beginning of July the Group raised a further £ 31.6m to fund product development, including a new H-Power fuel cell system capable of deployment in the next 12-24 months, scale up of manufacturing and expansion of their sales coverage.
Its HydroX-Cell(S) stack, when available from 2022, is expected to deliver equivalent or better performance in terms of power density versus current day Polymer electrolyte membrane (PEM) fuel cells, whilst benefiting from the attributes of the alkaline chemistry, including the ability to accept lower grade Hydrogen fuel. These attributes will make the HydroX-Cell(S) stack ideal for applications including maritime (shipping) and rail, where space constraints require high power density, but at a fraction of the footprint of the HydroX-Cell(L) system.
The June release of Germany's €9bn National Hydrogen Strategy, together with the European Union's own "Hydrogen Strategy For A Climate-Neutral Europe" certainly bodes well for the sector.