AFC Energy PLC (AIM:AFC, OTC:AFGYF) is seeing growing interest in its H-Power Towers, says Peek Hunt, with agreed deployments this year now above 8,000 hours and an expanding order book, with a material number of proposals in negotiation.
Feedback from customers such as Acciona, Kier Group, Keltbray and Mace-Dragados has been good, says the broker, while Vinci-arm Taylor Woodrow and Colas are among new customers.
Like Acciona, Vinci could be a particularly important relationship for AFC Energy, given its size and scale, adds Peel Hunt.
AFC Energy also expects to achieve a major reduction in system capital cost over the coming months hence Peel Hunt is maintaining a buy rating and target price of 195p.
Shares today were up 4% at 24.2p.