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AFC Energy says tests give confidence that commercial life expectancy of its fuel cell stack may exceed twelve months

Published: 03:17 03 Apr 2017 EDT

Fuel cell stack
AFC said the lower cost of fuel cell operation further increases the market opportunity size for the group

Hydrogen fuel cell developer AFC Energy (LON:AFC) has revealed that tests with conducted by its Italian partner gives confidence that commercial life expectancy of its fuel cell stack may exceed its initial target of twelve months.

The AIM-listed firm said its joint development agreement with Italy’s Industrie De Nora SpA  has conducted an extensive programme of 145 variant fuel cell tests.

The group said they had achieved “material improvements in fuel cell longevity and degradation rates” versus the successful Gen2 fuel cell baseline data.

READ: AFC poised to enter commercialisation phase ...

It added that the improvements in fuel cell longevity has the “potential to materially reduce operating costs and improve the profitability of projects for AFC Energy due to improved operating cost levels.”

AFC said the lower cost of fuel cell operation further increases the market opportunity size for the group.

Adam Bond, AFC’ s chief executive officer, said: "I've been delighted with the progress both companies have made in progressing the respective work packages under the JDA. 

“The collaboration has been first class and with the direction of travel we are now pursuing and advances made, particularly in the area of cell longevity, I'm confident that the results we are seeing will materially support our conversations with commercial project partners during the coming 12 months."

In a separate, quarterly newsletter to shareholders also published today, rounding up all the firm’s developments over the previous three months, Bond said: “We are looking forward to another year of significant progress and development. “

He added: “2017 was always designed to be the year when AFC Energy positioned itself to capitalise on its hard efforts over the past two years in particular in upscaling its technology platform, and we are starting to see the value AFC Energy can bring not only to our partners and industry, but also to our shareholders.”

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