AFC Energy PLC Independent Technology Review

AFC Energy PLC Independent Technology Review

AFC Energy, a leading developer of low cost alkaline fuel cells, is pleased to announce that it has received a further positive independent review of its progress from Dr Jon Helliwell, Project Manager, Fuel Cell Applications at the Centre for Process Innovation.  The CPI last carried out a review of the Company's technical activity in May 2011.

The CPI reports that there have been a number of important developments since the last review, which have given it further confidence that the performance targets agreed with AFC Energy's main customer will be achieved. In summary these developments are:

  • Established two Beta systems at a customer site in Germany and a third on its own site in Dunsfold. This is significant as AFC Energy is:
    - demonstrating the robustness of its Beta-system outside the laboratory
    - generating important operating data
    - openly sharing data and planning progress with a prestigious partner
    - delivering system enhancements in the field
  • Frozen system and electrode designs.
  • Separated its manufacturing and development activities demonstrating an increased maturity within the organisation which fits well with its desire to commercialise at the earliest opportunity.
  • Commenced a project in December, known as LASER-CELL, in which it is the lead of a consortium of European organisations (as announced on 1 December 2011).
  • Strengthened its management team through the appointment of Ian Williamson as CEO (as announced on 13 September 2011).
    Ian has a wealth of commercial experience in the hydrogen and energy fields and has established a clear plan for the business focussed on developing its commercial and production capability, whilst maintaining cost control.

AFC Energy provided Dr Helliwell with complete, unrestricted, access to all areas of the Company and its staff and he was able to examine each in detail. A version of the full CPI report, edited to remove confidential technical details, will be made available on the Company's website later today.

Dr Jon Helliwell, Project Manager, Fuel Cell Applications, CPI said: "This has been an extremely important period for AFC Energy. I am highly encouraged by the operational and technical developments since the last review and I firmly believe the Company is now in a significantly stronger position.

"AFC Energy is highly likely to deliver low cost, modular fuel cell systems to the stationary power industry in accordance with its technology and commercialisation plans. The systems are simple, as they use clever engineering and elegant design to minimise cost and complexity.

"The cells themselves have been designed for manufacture and are capable of using a range of materials. The technology is no longer 'laboratory based' and in what has been a particularly exciting period for the Company, it is clearly starting to deliver the promise of its robust, low cost fuel cell systems."

Ian Williamson, AFC Energy's Chief Executive, said: "We are delighted and encouraged that Dr Helliwell's review recognises the important milestones reached by the Company in the last few months and it is again a testament to the hard work of our development team.

"AFC Energy continues to optimise the performance of its Beta fuel cell system using the highly valuable data generated by the field trials currently underway and we remain firmly focussed on commercialising our fuel cell technology."

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