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AIM:AFC

AFC Energy PLC

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Market:
AIM
Market Cap:
£239.98 m
Price
35.50 GBX
Change
-5.84%
52 weeks high
40.85
52 weeks low
9.00

Background

Climate change has been described as the defining issue of our time.

The 2015 United Nations Climate Change Conference (COP 21) in Paris led to 195 countries adopting a universal, legally binding global climate deal that aims to keep “the increase in the global average temperature to well below 2°C above pre-industrial levels and to pursue efforts to limit warming to 1.5°C”.

It is now the role of industry and Governments to best determine the policy and implementation strategy necessary to deliver on these ambitious targets.

In full support of the energy transition subscribed to in Paris, the Hydrogen Council was launched in 2017 at the World Economic Forum in Davos, representing a coalition from industry which sets out to:

  • Accelerate investment in the development and commercialisation of the hydrogen and fuel cell sectors; and
  • Encourage key stakeholders to increase their backing of hydrogen as part of the future energy mix, with appropriate policies and supporting schemes.

Key measurable targets set by the Hydrogen Council for 2050 demonstrate the scale of opportunity that now resides within the global Hydrogen Economy:

AFC Energy, as a Supporting Member of the Hydrogen Council, alongside its other members, policy makers and regulators, is fully supportive of the important role hydrogen will play in the decarbonisation agenda.

As the leading provider of alkaline fuel cell solutions, AFC Energy is at the vanguard of energy transition and will be a key enabler in achieving the goal of a zero carbon emission economy.

 

H-Power

Hydrogen is an important and abundant carrier of energy whose conversion into electricity through a fuel cell dates back over a 100 years.

The fuel cell sector and hydrogen economy has been challenged on two key fronts to bring this clean energy vector to market: the grade of hydrogen necessary for effective fuel cell operation is often measured as Ultra-Pure Scientific Grade (99.999% H2) and comes at a significant price; and the loading of precious metals present in the fuel cell electrode has often made for a very expensive catalytic conversion of hydrogen into electrons.

Each of these characteristics directly affects the affordability of power produced from hydrogen.

The AFC Energy H-Power technology platforms successfully addresses both of these issues, translating into one of the lowest cost fuel cells in the market today.

Backed by the world class leader in electro-chemistry, Industrie De Nora S.p.A, AFC Energy’s patented Alkaline Fuel Cell affords the flexibility of using low grade hydrogen streams (in some cases measured as low as 75% when cracking ammonia) with the opportunity to displace precious metals either entirely or to a greater extent than alternative fuel cells in the market today.

Critically, this can all be achieved without a loss in performance and efficiency.

After a decade of research and development, AFC Energy is now bringing its H-Power technology platforms to market, establishing an emissions free solution to the world’s energy challenges.

 

UK.

John Rennocks
Chairman and Non-Executive Director

YEAR APPOINTED – 2017 John brings a wealth of public markets and energy market experience to the Board of AFC Energy.

Adam Bond
Chief Executive Officer

YEAR APPOINTED – 2014 Adam has over 18 years’ experience operating within the international energy sector both in executive management positions for listed energy companies, and in advisory capacities to both Governments and the private sector.

Joe Mangion
Non-Executive Director

YEAR APPOINTED – 2017 Joe Mangion, a Chartered Accountant, brings to the Board over 20 years of operational experience within the environmental services and alternative energy sectors, including five years as an institutional investor and over five years as an independent consultant.

Jim Gibson
Chief Operating Officer

YEAR APPOINTED 2017 Jim has almost 30 years’ experience in operations management and business development roles within the engineering contracting sector.

Gerry Agnew
Non-Executive Director

YEAR APPOINTED – 2019 Gerry Agnew, is regarded as one of the world’s leading experts in the field of fuel cell technology and systems following an esteemed career at both Rolls-Royce and LG Fuel Cell Systems Inc. Before joining the Board of AFC Energy, Dr. Agnew served as Senior Fellow on the Rolls-Royce Council of Fellows, attending the Group Chief Technology Officer’s Technology Strategy workshops with the Group CEO.Dr. Agnew spent seven years as Chief Technology Officer and Chief Technology Advisor to LG Fuel Cell Systems Inc and prior to this, Chief Technologist of Rolls-Royce Fuel Cell Systems, Executive VP Engineering at Rolls-Royce Fuel Cell Systems and Chief Engineer Fuel Cell Systems at Rolls-Royce.

AFC Energy is based in Surrey, England.

Unit 71.4 Dunsfold Park

Stovolds Hill

Cranleigh

Surrey

GU6 8TB

United Kingdom

 

Tel +441483 276726

[email protected]

 

Registered in England, company number 05668788

Registered office: Unit 71.4 Dunsfold Park, Stovolds HIll, Cranleigh, Surrey GU6 8TB

Date incorporated: 09/01/2006

Registered Office
AFC Energy plc
Unit 71.4
Dunsfold Park
Stovolds Hill
Cranleigh
Surrey
GU6 8TB

Company Secretary
Richard Dunkley
01483 276726

Joint Broker
Mc Peat & Co
118 Piccadilly
London
W1 7NW

020 7104 2334

Nominated Adviser and Joint Broker
Cantor Fitzgerald Europe

1 Churchill Pl
London
E14 5RD    

Solicitors to the Company
Memery Crystal LLP

165 Fleet Street
London
EC4A 2DY

+44 (0)20 7242 5905

Auditors and Reporting Accountants
Grant Thornton
Grant Thornton House
Melton Street, Euston Square
London NW1 2EP

+44 (0)20 7383 5100

Financial Public Relations Consultants
Lionsgate Communications

020 3697 1209

Registrars
Computershare Limited
PO Box 1075
The Pavilions
Bridgwater Road
Bristol
BS99 7NH
020 8676 2600

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