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AFC Energy prepares for first orders as fuel cells notches one-year milestone

The fuel cell developer's Italian De Nora has begun scaling up its manufacturing facility in advance of anticipated large-scale electrode orders

AFC Energy PLC - fuel cell

A year of uninterrupted operation of a fuel cell electrode developed by AFC Energy PLC (LON:AFC) and Italy’s De Nora has indicated that it can expect to have a continuous-use life expectancy of at least four years.

With such a performance indicating the fuel cell would be one of the lowest-cost in the market, De Nora has begun scaling up its German manufacturing facility in advance of anticipated large-scale electrode orders.

The electrode began continuous testing in August 2018 and has since showed improved electrode degradation rates over time, while AFC and De Nora have also begun working on a new set of improved electrodes.

Linear regression analysis from the test programme produced no significant trends to indicate that AFC and De Nora’s four-year target life will not be met, the pair said in a statement on Tuesday. 

The two company said they are likely to “imminently” extend their existing joint development agreement to incorporate the new improved electrodes.

“These results today signify a step-change in electrode performance and further validate our decision to partner with De Nora as a key partner of the AFC Energy technology team,” said AFC chief executive Adam Bond. 

De Nora’s Luca Buonerba added that the results are “undisputedly assigning the mark of ‘best available technology’ to AFC Energy's fuel cell and we look forward to continuing our work with AFC Energy in pushing this leading alkaline fuel cell system to market”.

Quick facts: AFC Energy PLC

Price: 25.6 GBX

AIM:AFC
Market: AIM
Market Cap: £114.68 m
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