AFC Energy Regulatory News (AFC)

23 Aug 2007 16:50

AFC Energy Plc24 August 2007 AFC Energy plc Technological milestone - successful operation of first fully scaled single cell AFC Energy, ("AFC Energy" or the "Company"), the low cost alkaline fuel cellcompany, is pleased to announce that it has successfully achieved its secondtechnological milestone, the operation of a fully scaled single cell, within theprojected timescale described in the Admission Document. The scaled cell electrodes are the same size as the electrodes from the firstprototype system measuring 150mm by 250mm. The scaled cell is now being testedunder specific harsh operating conditions, designed to demonstrate durabilityand corrosion resistance of the system. The successful development of the scaled single cell unit is another importantstep towards full commercialisation during 2009. The next expected milestone isthe 500 hours operation of the scaled single cell scheduled for October 2007.These tests have already begun with the scaled cell being exposed to constant,transient and no load conditions. The scaled single cell unit successfully demonstrates the generation ofelectricity, using both cathode and anode electrodes, from hydrogen and oxygen.The Directors continue to believe that AFC Energy's fuel cell will have aconversion efficiency of approximately 60%. Gerard Sauer, Chief Executive, said: "AFC Energy remains on track with thedevelopment of its low cost fuel cell. Excellent progress continues to be madewith the electrode and results from initial tests show that power performancesare very encouraging and catalyst degradation is minimal. "AFC Energy continues to work closely on the development of its technology withits customer Akzo Nobel which produces substantial amounts on hydrogen from theproduction of chlorine. We look forward to delivering our first fuel cells toAkzo Nobel during 2008." ends For further information please visit www.afcenergy.com or contact: AFC Energy plc 01483 276 726Gerard Sauer, Chief Executive Blue Oar Securities - Broker 020 7448 4400Shane Gallwey Nabarro Wells & Co. Limited - Nominated 020 7710 7400AdviserRichard Swindells / Anthony Rowland 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 asignificantly lower cost than any other fuel cell system and at a commerciallyacceptable price point - improved fuel cell production processes and reduced costs and number ofcomponents required - precious metals largely eliminated and all materials are expected to have atleast 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 energyfrom 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 asused in the Apollo space shuttles and Russian Navy submarines This information is provided by RNS The company news service from the London Stock Exchange