Proactive Investors - Run By Investors For Investors

AFC Energy demos world’s first EV charger based on hydrogen fuel-cell technology

CH2ARGE incorporates AFC Energy's proprietary hydrogen fuel cell system connected to an inverter similar to those used by Toyota at their Electric Vehicle research centre. The inverter transfers energy created by the fuel cell to a charger
AFC Energy's production and research facility
The fuel cell is sized to provide sufficient power to charge EVs concurrently and can be scaled up to provide solutions for mass recharging at supermarkets, retail venues and sports stadiums

AFC Energy PLC (LON:AFC) shares soared higher on Thursday after the alkaline fuel cell power technology developer said it has successfully demonstrated the world’s first electric vehicle charger based on hydrogen fuel-cell technology.

Dubbed CH2ARGE, the technology was put through its paces at Dunsfold Aerodrome, which will probably have infamous petrol-head, Jeremy Clarkson, spitting feathers as it is the home to the BBC Top Gear test track.

READ: The hydrogen market could ultimately be worth US$2.5trn

The demonstration was the culmination of 10 years of fuel cell research development at the AFC Energy laboratories.

Having now demonstrated proof-of-concept of the prototype, AFC Energy is preparing for the commercialisation of fuel cell-based electric vehicle (EV) charge solutions to meet the growing demand for environmentally friendly power in the EV market. Traditional charging causes pollution with electricity from fossil fuels, but AFC Energy's CH2ARGE system can be 100% emissions free.

“By 2030, it is estimated that there could be nine million electric vehicles on the road of Britain, up from 90,000 today,” said Adam Bond, the chief executive officer of AFC Energy.

"For this transition, we need charging stations to be embedded throughout the country, as well as seeking innovative solutions to overcome the severe limitations of centrally generated electricity. By developing and previewing the effectiveness of our CH2ARGE system in the application of EV charging, AFC Energy has shown it is ready to lead the way not only in solving the challenges of increased demand for electricity but also doing so in a zero-emissions approach,” he added.

In early afternoon trading, shares in AFC Energy were 47% higher at 8.32p.

 -- Adds share price --

View full AFC profile View Profile

AFC Energy PLC Timeline

Related Articles

MeyGen
April 29 2019
Tidal, waste-to-energy and hydropower are all set to be part of the portfolio
Alternus Energy solar park in Italy
December 18 2018
The clean energy company’s portfolio includes solar parks in Italy, Germany, and, soon, in the Netherlands
wind farms
May 02 2019
Shares just below an all-time high with a prospective dividend yield of 5%

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use