Last checked at 8 Aug 2011 07:00
08 August 2011
Embargoed until 07:00
AFC Energy PLC
("AFC Energy" or the "Company")
Completion of HAZOP Study
AFC Energy (AIM: AFC), a world leading developer of alkaline fuel cells, is pleased to inform investors that the HAZOP study relating to its commercial-scale fuel cell system (Beta system) has now been successfully completed.
Improvements highlighted by the study have been incorporated into the Beta system which is currently being commissioned at the Company's premises in the UK. None of these improvements have involved any significant redesign work. The Company is on track with its plans to deploy a Beta system in the field for testing.
Ian Balchin, AFC Energy's Executive Deputy Chairman, said: "AFC Energy is delighted to have successfully completed this rigorous study. We have found the HAZOP process to be extremely valuable and it takes us another step forward towards deployment and field testing. We also expect shortly to report further news regarding the commissioning of our first Beta system at our premises in the UK."
For further information, please contact:
AFC Energy plcTim Yeo, Chairman Ian Balchin, Deputy ChairmanDavid Marson, Finance Director |
+44 (0)1483 276726
|
Allenby Capital Limited Brian StockbridgeAlex Price |
+44 (0)20 3328 5656 |
Threadneedle Communications John Coles Fiona Conroy |
+44 (0)20 7653 9850 |
About AFC Energy
AFC Energy is a world leading developer of low-cost alkaline fuel cell systems that use hydrogen to produce clean electricity, heat and water. AFC Energy's technology is focused on large-scale industrial applications and the objective of producing the lowest possible unit cost electricity. Please visit our website at www.afcenergy.com.
- High efficiency levels: using readily available hydrogen and air as the source of oxygen, electrical efficiency is up to 60% which compares to around 30% for conventional electricity generating technology.
- Low cost production: fabricating with low cost materials combined with industrially proven production processes.
- Low temperature and pressure: operating at less than 100 degrees Celsius enables us to use polymer mouldings for many parts.
- Hydrogen sealing: operating at low pressure, hydrogen is readily sealed within the system.
- Thermal management: a circulating liquid electrolyte simplifies the thermal management of the system.
- Balance of plant: the majority of components are off-the-shelf and mass manufactured for other uses enabling us to benefit from these economies of scale.
- Value engineered for assembly: the component count has significantly reduced and commercial units are designed for easy assembly.
AFC Energy has significantly reduced the cost of its technology to make its fuel cell system a commercially compelling proposition.