AFC Energy Regulatory News (AFC)

8 May 2007 07:02

AFC Energy Plc08 May 2007 AFC Energy plc Successful performance of small-scale single cell unit during 500 hour trial AFC Energy plc ("AFC Energy"), the low cost alkaline fuel cell company, is pleased to announce that it has successfully achieved its first technological milestone, the operation for 500 hours of a small-scale single cell unit, within the projected timescale described in the Admission Document. The cell was tested successfully under specific high corrosion conditions,designed to demonstrate operation and corrosion resistance of the system. Thetrial, which was completed on schedule, demonstrated a consistent output withminimum degradation and little evidence of corrosion. The single cell unit demonstrates the successful generation of electricity,using both cathode and anode electrodes, from hydrogen and oxygen. The onlyby-product is water and small amounts of heat. Ultimately, the Directorsbelieve that AFC Energy's fuel cell will have a conversion efficiency ofapproximately 60%. The successful test of the single cell unit is an important part of thecontinued progress towards AFC Energy's goal of delivery of functional systemsduring 2008 in preparation for full commercialisation during 2009. The nextexpected milestone is the operation of the first scaled single cell scheduledfor August 2007. Gerard Sauer, Chief Executive, AFC Energy plc said: "Excellent progress is being made in the development of the electrode and of thenovel balance of plant features that we are incorporating. We have a dedicatedand motivated team working towards a very focused goal of achieving the lowestcost system in the shortest possible time specifically with relation to definingthe manufacturing protocols for mass production." - Ends - For further information please visit www.afcenergy.com or contact: AFC Energy plc 01483 276 726Gerard Sauer, Chief Executive Nabarro Wells & Co. Limited 020 7710 7400Richard Swindells / Anthony Rowland Dawnay Day Corporate BrokingDavid Banks 020 7070 5692Gus Hochschild 020 7070 5690 Madano Partnership 020 7593 4000Mark Way / Graham Moonie About AFC Energy plc AFC Energy plans to produce 'clean' energy without cost disadvantage - principal objective to develop and produce an alkaline fuel cell system at a significantly lower cost than any other fuel cell system and at a commercially acceptable price point - improved fuel cell production processes and reduced costs and number of components required - precious metals largely eliminated and all materials are expected to have at least a 50 year security and multiple source of supply. Availability of hydrogen produced as a by-product by other industries - initial focus on industries producing hydrogen as waste or excess by-product - agreement with Akzo Nobel to supply fuel cells and to generate clean energy from hydrogen produced as by-product at chlorine production plants Cost advantages to a proven technology - technology created by AFC Energy based on the alkaline fuel cell technology as used in the Apollo space shuttles and Russian Navy submarines This information is provided by RNS The company news service from the London Stock Exchange