Fuel cell developer AFC Energy plc (LON:AFC) said the group’s “pace of progress this year has been relentless”, and it remains upbeat about the year ahead.
In the firm’s latest quarterly newsletter, Adam Bond, AFC Energy’s chief executive officer said: “Our achievements to date nicely position AFC Energy for delivery of commercial transactions and in turn provide the traction needed with our partners for the deployment of units.”
Bond said that the group expects to continue to make sound progress on its joint development deal with Italy's De Nora and will provide further updates in the New Year.
READ: AFC teams up with Peel ...
He added: “I remain firmly of the view that this collaboration presents a significant opportunity to both parties for the enhancement of respective shareholder value.”
At the same time, Bond said AFC Energy “is continuing to progress dialogue with existing, as well as prospective new global industrial partners, which we will announce in due course.”
He added that AFC Energy is also excited to be collaborating with Peel Land & Property Group, in a project it announced at the end of November.
Although the AFC boss pointed out that “talks remain at a highly sensitive stage” on the project.
AFC and Peel Environmental are teaming up to assess the feasibility of siting a fuel cell project at the Protos industrial park near Ellesmere Port, Cheshire.
The plant would begin by generating 1 megawatt of electricity with the capacity increasing to 35-50 megawatts.
The group said last month that the techno-economic study will be carried out over several months.
In early morning trading, AFC shares were down around 6%, or 1.25p at 19.25p, with traders noting some disappointment that news on progress with new and existing industrial partners is not imminent.