AFC Energy Plc - Quarterly Newsletter
AFC Energy Quarterly Newsletter -
I am pleased to provide an overview of the Company's activities for the quarter ended 30th
· Covestro - 1MW proprietary fuel cell system
· Strengthened Leadership Team
In themselves, these three bullet points seem too succinct a summation of the effort that is ongoing at
At the AGM, I presented a clear vision of the path forward in terms of ongoing development of the fuel cell and I also outlined the immediate prospects that were in the pipeline and where we were having positive client engagements.
A more detailed summary of the Company's activities and outlook are contained in the
The key message within the Interim Results release is that
As announced prior to the AGM,
The significance of that step may have been lost in the day but it is something I feel needs to be re-iterated as it is worthy of mention.
I believe that our collaboration with
As such we are, even as I write, focused on the following outcomes that we want to establish at the end of the Phase 2 of the JDA by the end of 2017;
· Achieve full integration of commercial fuel cell electrodes into the
· Validate this integration into our commercial-scale stack at Stade,
· With successful integration, finalise our design for a commercial fuel cell electrode architecture and stack design that is capable of mass production with warranted performance metrics
· Develop dialogue with
These four points will represent a very major technological advancement for the
At the AGM I also spoke about the performance metrics 'PLACE' (Power, Longevity, Availability, Cost, Efficiency) that we need to achieve as part of our final design criteria for a commercial fuel cell electrode and stack. As an acronym, these five letters provide a clear basis against which
At the Stade facility in
The outcome of the validation runs will be used to cross-check the design criteria (and therefore costing basis) for the scoping study that is currently ongoing with Covestro.
Covestro - 1MW proprietary fuel cell system
Aside from the headline that
The work on the Covestro scoping study is progressing well and we hope to be through most of this phase by the middle of August for internal review and assessment. As we develop the basis against which deployment would proceed we will be buoyed by the empirical data that will start to flow from the operation of our Stade fuel cell facilities. Using the Stade validation data will provide much confidence that the basis for our scoping study is based upon strong running performance. I cannot say more than this now as we are still mid-project.
However, it is worthwhile noting that the same running data from Stade, used to verify our design basis for Covestro will also be applied to other opportunities currently in development but as yet unannounced. The importance of this validation data from Stade will provide the unarguable evidence needed to support our position as we engage with these other commercial opportunities.
Strengthened Leadership Team
I am delighted to welcome three new highly experienced and well-respected directors to the Board of
John's extensive experience of growing large publicly listed power businesses will be invaluable to us as we approach a transformative period in the Company's history. Richard's extensive background in the power and energy sectors is a welcome addition to the management team. Lisa is a representative of
I would also like to thank
I wish you all a pleasant summer.
Chief Executive Officer
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR). Upon the publication of this announcement via a
This information is provided by RNS
Quick facts: AFC Energy PLC
Market Cap: -
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE