24 January 2013
AFC Energy plc
("AFC Energy" or the "Company")
AFC Energy extends fuel cell electrode life beyond six months
AFC Energy (AIM: AFC), the industrial fuel cell power company, is pleased to announce that it has extended the longevity of its electrodes to more than six months of continuous operation at its laboratory in Dunsfold, Surrey.
The milestone was achieved for the first time earlier this week using a generation of electrodes developed a year ago. AFC Energy believes that these results are of significance since it has identified that the first industrial applications require a minimum of three months' electrode life to be economic, depending on the level of subsidy available in key markets, particularly in the Far East such as in South Korea, where AFC Energy is pursuing a strategy to advance potentially lucrative opportunities with industrial partners.
At six months longevity, these applications have the potential to generate significant revenues for AFC Energy whilst also opening up new commercial opportunities in additional territories such as Germany, where the company is already carrying out long term longevity trials with Akzo Nobel, one of the world's largest chemicals groups.
Electrodes are the critical components of a fuel cell which enable the electrochemical reactions to occur between hydrogen and oxygen (from air) to generate electricity, heat and water. Laboratory trials of electrodes are on-going and further field trials of improved electrodes are scheduled to begin early next month.
Commenting on the achievement Ian Williamson, CEO, said: "I am delighted at the rate of progress being made towards an efficient, clean, robust fuel cell system. We have made several technical breakthroughs in electrode life as a result of our extensive lab and in-field testing. Our progress will surprise and challenge the power generating industry and we have recently filed six new families of patents to secure our rights. We look forward to pushing electrode life towards 12 months and beyond where we believe we will have a product that is economic globally in all target markets."
Dr. Gene Lewis, Technical Director, commented: "Our world-leading Technical Team continue to make rapid progress in extending electrode life and increasing power output. We have made innovative use of commercially available materials to make advances in this regard. We are continually working on additional performance improvements to longevity, power output and overall system life-time cost. AFC Energy has a clear vision in how to quickly translate laboratory trial results into commercial products."
Ends
For further information, please contact:
AFC Energy plc Ian Williamson, Chief Executive Ian Balchin, Deputy Chairman |
+44 (0)1483 276726 |
Luther Pendragon - Public Relations Adviser Neil Thapar Alexis Gore Dan Wilson Craw |
+44 (0)20 7618 9100 |
Peat & Co. - Corporate Broker Charlie Peat |
+44 (0)20 7104 2334 |
Allenby Capital - Nominated Adviser Jeremy Porter James Reeve |
+44 (0)20 3328 5656 |
About AFC Energy
Founded in 2006, AFC Energy plc is re-engineering proven alkaline fuel cell technology to reduce the cost of electricity. Alkaline fuel cells have been used on US and Russian manned space missions for decades to provide electrical power and drinking water. By using modern materials, design tools and manufacturing processes at scale, AFC Energy is developing fuel cells that will compete with conventional technologies such as turbines for electrical power generation. Today, AFC Energy is pursuing opportunities in several sectors where hydrogen is readily available including the chlorine, clean coal and waste-to-energy industries as well as applications for distributed/back-up power. For further information, please visit our website: www.afcenergy.com.
