AFC Energy PLC (AIM:AFC, OTC:AFGYF)'s launch of Hyamtec is to drive the commercialisation of this technology with a 100% focus on ammonia crackers and its own brand, says house broker Peel Hunt.
The technology provides low-cost, scalable, and on-demand hydrogen from liquid ammonia for industrial and mobile applications.
As a wholly owned subsidiary of AFC Energy, Hyamtec is to have increased flexibility in seeking financing for its growth.
Hyamtec’s ammonia crackers provide a distributed and scalable on-demand hydrogen production capability.
This cracker technology has also successfully demonstrated its flexibility to integrate with both ammonia combustion engines and gas purification technologies.
Buy with a 125p target price, says the broker.