Last checked at 5 Nov 2009 07:00
AFC Energy PLC
('AFC Energy' or the 'Company')
Positive external review of AFC Energy's Fuel Cell system
AFC Energy PLC, the developer of low cost alkaline fuel cells, is pleased to announce that it has received a very positive updated review of its fuel cell system from Dr Jon Helliwell, Project Manager, Fuel Cell Applications at the Centre for Process Innovation ("CPI"). AFC Energy provided him with complete, unrestricted access to staff and technology to assess AFC Energy's technology. The CPI was previously commissioned to review AFC Energy's technology by Waste2Tricity in November 2008.
Following the previous report the CPI has undertaken a second comprehensive review of AFC's Fuel Cell system including the electrodes, the catalyst systems, the current state of technological development, material science and the forward development programme. The main conclusions of the review were:
The company has achieved considerable success in developing a non-platinum based catalyst system for its fuel cells in less than 12 months: a significant achievement of direct relevance to a low cost fuel cell system
AFC Energy has also successfully demonstrated its technology in an industrial application
The company has rightly focused its development resource on the materials and system aspects of its fuel cell technology
AFC Energy has produced a clear Technical Development plan and the entire team are fully engaged in delivering it. The plan is specific and achievable and clearly shows how the current fuel cell system will be developed into the target 50 kW system. It also includes clear provisions for obtaining further durability, electrical efficiency and total system efficiency data
The company has also started to work with partners in target market areas that will benefit from the low cost, ease of maintenance and efficiencies of its technology. In short, the company has more than delivered on the major requirements of the last review and has significantly increased its capability to deliver its principal objective. It should be proud of the progress made.
Dr Jon Helliwell, Project Manager, Fuel Cell Applications, CPI added:
"It is clear that all technical activities were focused on the delivery of the company's principal objective of positioning itself as a developer of alkaline fuel cell systems at a significantly lower cost than any other fuel cell system and to do it at a commercially acceptable price point. The level of focus achieved means that AFC has moved to a position of being an established company determined to deliver its principal objective and strategy. It has clearly been a very good year for the company"
Ian Balchin, AFC Energy's Managing Director, added:
"The company has made significant progress in its technical development of its low cost fuel cell system in the last year and it is a fantastic achievement to see this reflected in the CPI's latest review."
For further information visit www.afcenergy.com or contact:
| AFC Energy plc Tim Yeo, Chairman Ian Balchin, Managing Director
| 01483 276726 |
| Astaire Securities Shane Gallwey | 020 7448 4400 |
| Pelham Public Relations Chelsea Hayes/ Klara Kaczmarek | 020 7337 1523 |
About CPI www.uk-cpi.com
The Centre for Process Innovation (CPI) was established by the Regional Development Agency, One North East, in 2004 to act as a Centre of Excellence for the Process Industry. One of its first projects was the Fuel Cell Application Facility (FCAF) which allowed it to evaluate the technology and determine what was required in order to realise commercialisation. It has established a number of practical fuel cell demonstrations in the North East of England (including the world's first fuel cell powered lighthouse) which have given it insight into what constitutes a realistic fuel cell technology with the potential for commercial success.