28 Aug 2008 07:00
NEWS RELEASE
28 August 2008
First fuel cells successfully shipped to Akzo-Nobel
AFC Energy Plc, ("AFC Energy" or the "Company"), the AIM quoted low cost alkaline fuel cell company that focuses on industrial markets, is pleased to announce to shareholders today that it has delivered its first multiple fuel cell systems to Akzo-Nobel.
Once delivered the two fuel cell systems will be installed and integrated at Akzo-Nobel's Bitterfeld site in Germany, and it is expected that they will be switched on and tested sometime in mid-September. The Company will make a further announcement once the results of the initial tests have been gathered.
Today's news marks completion of stage six of the Company's technological milestone outlook, identified at the time of the IPO in April 2007 and, when the fuel cells are up and running, will complete phase one of the commercial agreement with Akzo-Nobel.
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For further information please visit www.afcenergy.com or contact:
| AFC Energy plc Gerard Sauer, Chief Executive | 01483 276726 |
| Blue Oar Securities Andrew Raca / Matthew Marchant | 020 7448 4400 |
| Madano Partnership Mark Way / Graham Moonie | 020 7593 4000 |
NOTES TO EDITORS
AFC Energy develops low cost alkaline fuel cells for industries that produce hydrogen as a by-product. This hydrogen can then be used by AFC Energy's fuel cells to produce clean electricity.
AFC Energy's fuel cells have been developed with three key criteria in mind: use minimal precious metals, operate at low temperatures thus allowing the use of plastic mouldings, and have a high efficiency level with an approximate conversion rate of 60%.
AFC Energy (AFC)