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AFC Energy PLC

AFC Energy surges after unveiling technology breakthrough

The new system, smaller and lighter than the company's large-scale stationary fuel cell system, will be able to integrate into AFC's electric vehicle recharging and e-mobility solutions

Sun breaking through the clouds
The new technology has a far greater power density facilitating reduced system weight

Shares in alkaline fuel cell power technology company AFC Energy PLC (LON:AFC) surged in early deals after the company revealed it had improved its technology.

The new high-power density alkaline fuel cell technology has the potential to be used in applications where the space and weight of power generation are important considerations and will sit alongside and complement AFC's existing large-scale stationary fuel cell system.

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

AFC expects the new fuel cell system will open up new markets for the company and the company has built up knowledge about potential applications of the new system, such as alkaline water electrolysis.

Initial testing has been completed using the anion (a negatively charged ion) exchange membrane in non-core fields and discussions are underway with potential partners to jointly commercialise elements of the technology in applications unrelated to fuel cells.

This system will undergo prototype development, which if successful will lead to scale-up over the course of the next 12 months, AFC said.

"At AFC Energy, we now have a fuel cell platform capable of delivering performance only previously seen in other membrane-based fuel cell technologies, and at lower operating temperatures. This is a major step forward in the alkaline fuel cell sector where AFC Energy continues to be at the cutting edge,” said Adam Bond, the chief executive officer of AFC.

“The ability to license parts of this technology to non-core applications would also give rise to an additional revenue stream potential without compromising existing fuel cell market potential," he added.

Shares in AFC were up 20.6% at 4.39p.   

Quick facts: AFC Energy PLC

Price: £0.05

Market: AIM
Market Cap: £21.28 m
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