Analysts at City broker Peel Hunt have repeated a 'buy' rating for AFC Energy PLC (AIM:AFC, OTC:AFGYF) as the London-listed hydrogen energy pioneer this morning announced it had bolstered its management team, adding Nick Walker as its new Chief Strategy Officer.
The new exec' brings decades of experience in cleantech and hydrogen technology, garnered from roles across investment research, banking and consulting.
Walker is expected to lead the development and execution of the company’s commercialisation strategy as the AFC advances its next generation of ammonia cracker and fuel cell technologies into global markets.
"Today's appointment comes at a pivotal time for AFC following the company’s strategy shift, evolving from technology-led to market-led growth," Peel Hunt analyst Sam Wahab said in a note.
"Management is focused on delivering low-cost, on-site hydrogen production and achieving price parity with incumbent diesel solutions at a price point that is sufficiently compelling to displace traditional generators. In addition, the launch of Hy-5 through AFC’s Hyamtec brand represents what the company describes as the world’s first containerised, portable cracking module capable of producing up to 500kg/day for delivery in CY26."
Peel Hunt's 'buy' rating comes with a 23p price target, suggesting more than 100% upside to the current share price of 8.9p in London.
Proven strategic acumen
AFC chief executive John Wilson in today's statement, commented: "We are delighted to welcome Nick to our leadership team.
"His proven strategic acumen across the hydrogen and clean energy industry and strong background in building relationships with stakeholders will be invaluable as we accelerate the commercial roll-out of our ammonia cracker and fuel cell generator product lines.
Walker added: "We are delighted to welcome Nick to our leadership team.
"His proven strategic acumen across the hydrogen and clean energy industry and strong background in building relationships with stakeholders will be invaluable as we accelerate the commercial roll-out of our ammonia cracker and fuel cell generator product lines."