We have the opportunity for clear first mover advantage in the EV charging market in particular and through the much-appreciated efforts of our employees and partners, look forwards to delivering on our commitments to support the UK’s and international efforts towards a net zero society
Adam Bond, chief executive
How it’s doing
() has concluded the majority of engineering design and signed agreements for its first commercial fuel cell systems as it closes in on bringing the product to market.
AFC’s hydrogen fuel cells will have a low cost per kilowatt hour (kWh) compared to alternative generating systems, partially as a result of its ability to use lower quality and less expensive hydrogen sources.
Trials have shown that AFC’s proprietary fuel cell system can use “off the shelf” ammonia cracking technology, with little difference in performance compared to hydrogen sourced from industrial plants.
The company is also working with various leading clean-tech specialists to build on existing commercial activities and establish alternative distribution channels to accelerate future growth.
In December, the company launched a zero-emission H-Power electric vehicle (EV) charging system, based on its scalable alkaline fuel cells, as well as unveiling a ‘blue-ribbon’ partnership with the British Motor Show 2020 to become the event’s its official EV charging partner.
This was followed in January by the signing of a commercialisation agreement with green tech firm HiiROC to produce zero-emission hydrogen fuel from natural gas.
In June, it agreed to test its alkaline H-Power fuel cell technology at one of construction group ACCIONA’s sites in Spain.
ACCIONA is one of Spain’s renewable energy leaders as well as being a construction group and is looking at ways to decarbonise construction across Europe, said AFC.
Diesel generation from construction sites is a significant contributor to poor air quality, said AFC, and is likely to be increasingly regulated and enforced by governments.
Investors showed their appreciation of the progress by strongly backing a £31.6mln fundraise at 16p at the start of July.
AFC said the money would give it the capacity and flexibility to ramp up the manufacture of its H-Power fuel cell systems to meet expected demand over the next two years.
This will include combined 20kW and 160kW units, it said, and also a system that will be trialled by Spanish construction group ACCIONA in 2021.
AFC is one of the UK market leaders in what is becoming known as the hydrogen revolution, the development of technology that can transform hydrogen into a renewable energy source.
According to the Hydrogen Council, an industry group backed by companies such as BMW and Air Liquide, the hydrogen market could be worth around US$2.5trln by 2050 as part of a push to lower carbon emissions from transport and limit global warming to safer levels.
Hydrogen is seen as a key element of the UK…
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