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AFC Energy hails generation milestone in Germany

A second generation fuel cell system is scheduled for release later this year
AFC Energy hails generation milestone in Germany
The KORE system is an alkaline fuel cell system that converts hydrogen into 'clean' electricity.

 

-- adds broker comment, share price--

AFC Energy (LON:AFC) was today celebrating the generation of more than 200kW of electricity from its KORE fuel cell power plant in Stade, Germany. 

The landmark followed all three tiers of the KORE alkaline fuel cell systemhttp://images.intellitxt.com/ast/adTypes/icon1.pngoperating in parallel for the first time, with the power generated released into the German power grid.

AFC added that the operational data indicated the fuel cell stacks could work above their 10Kw nameplate capacity and that with a few tweaks 240Kw of power was possible in the near term.

Work will now start on design optimisation with a second generation of fuel cell systems scheduled for release later this year. 

Adam Bond, AFC's chief executivehttp://images.intellitxt.com/ast/adTypes/icon1.png, said: “Today marks a significant milestone achievement, most importantly being the delivery of a fuel cell stack which has generated in excess of its nameplate capacity of 10Kw. 

It also demonstrated a further de-risking of its technology and validated the decision in December 2014 to accelerate the deployment of AFC's KORE fuel cell system, he said.

AFC's KORE system is an alkaline fuel cell system that converts hydrogen into 'clean' electricity.

The project consists of 24 fuel cell stacks in three tiers of 8 stacks each and with each stack consisting of 101 fuel cells, said broker Cantor Fitzgerald.

The broker added that AFC had also built up its manufacturing capacity with fuel cell production increasing by over 12 times and fuel cell electrode yield now at 91%, up from 85% in 2014.

AFC recently raised £4.1mln in a heavily oversubscribed funding round.

The company has a target of 1 gigawatt (Gw) of fuel cell capacity to be installed by the end of 2020. 

Shares rose 1% to 26.5p.

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November 01 2016

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