AFC Energy claims to be the only large-scale developer of low-cost alkaline fuel cells. These use hydrogen and oxygen as inputs and a potassium chloride electrolyte. Its prototype 240kW KORE system, which was built at its plant in Germany, has been in operation since late 2015. An improved version was released in November 2016 and was announced as being ready for commercial deployment at the end of 2017. Pending commerciality, the company has preliminary agreements in Korea for 50 MW; Bangkok for 10 MW and Dubai for 300 MW. In 2016 AFC entered into partnerships with planting GmBh, an engineering company, and Industrie De Nora, a global leader in electrochemistry and electrodes, in order to accelerate commercialisation.
Exchange: London AIM (AFC)
Financial Data from Exchange website: LSE summary
Recent Financial Report: Annual report 2017
Further Information: The company claims that their fuel cell is the only type likely to be capable of competing on level economic terms with conventional electricity generation, so life-time costs of ownership are crucial. AFC uses industrially proven production processes and a low operating temperature, 60-70C, which allows the use of low-cost injected moulded plastic and rubber seals, as well as non-platinum electrode materials. Alkaline cells are also among the most efficient fuel cells in terms of electrical energy produced. As a by-product they produce warm water which can be used for additional heating purposes.
AFC is targeting companies with a requirement for a static fuel cell system within an industrial process. This implies sites familiar with dealing with gases such as hydrogen and with infrastructure already in place. It not only overcomes the significant hurdle of sourcing hydrogen (hydrogen which otherwise might be wasted), but also eliminates transport difficulties and costs. Additionally, space is not normally at a premium on these sites, so the fuel cell system can be easily located.
Contact Details: AFC Energy, Unit 71.4 Dunsfold Park, Stovolds Hill, Cranleigh, Surrey, GU6 8TB
Tel: +44 (0)1483 276726
Fax: +44 (0)1483 266839
Chairman: John Rennocks
CEO: Adam Bond
Fields of interest: Energy Storage