viewAFC Energy PLC

AFC Energy Plc - Cancellation of Convertible Loan Note Facility

RNS Number : 0293F
AFC Energy Plc
12 November 2020

12 November 2020

AFC Energy PLC

("AFC Energy" or the "Company")

Termination of Convertible Loan Note Facility

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, announces that the Board of Directors, having reviewed the Company's funding requirements following the £31.6 million fundraise earlier in the year, has agreed with Thalion Global Group LLC to terminate with immediate effect the financing facility the Company has in the form of the £ 4 million convertible loan note facility announced on 12 April 2019. No drawdowns were made on the facility.

Adam Bond, AFC Energy's Chief Executive Officer, said " I wish to thank Thalion Global Group for the confidence shown in the Company's technology and business plan last year, giving us the financial stability, in uncertain economic times, to continue delivering on our strategy and securing first commercial orders alongside a very successful fund raise earlier this year". 


For further information, please contact:

AFC Energy plc

Adam Bond (Chief Executive Officer) 

+44 (0) 14 8327 6726



WH Ireland Nominated Adviser and Joint Broker

Mike Coe (Corporate Finance)

Jasper Berry (Corporate Broking)

+44 (0) 117 945 3470



M C Peat & Co LLP Joint Broker

Charlie Peat

+44 (0) 20 7104 2334



Tuva Partners - Public Relations

Alex Brooks   

+44 (0) 7900 205 460


About AFC Energy

AFC Energy plc is commercialising a scalable alkaline fuel cell system, to provide clean electricity for on and off grid applications. The technology, pioneered over the past twelve years in the UK, is now deployable in electric vehicle chargers, off-grid decentralised power systems and industrial gas plants as part of a portfolio approach to the decarbonisation of local electricity needs.



This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

Quick facts: AFC Energy PLC


Price: 53

Market Cap: £389.25 m

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


AFC Energy's new Chief Technology Officer David Harvey presents his...

AFC Energy PLC's (LON:AFC, OTCMKTS:AFGYF) new Chief Technology Officer David Harvey joins Proactive London to discuss his experience in the field and what he's already working on at AFC.  Harvey is a world recognised expert in the field of fuel cell technology and electrochemical systems. He...

on 3/6/21

3 min read