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AFC Energy's new EV charger on track for launch this year

AFC has also signed an agreement with an international manufacturing group to assess an ammonia-to-power off-grid platform

AFC Energy PLC -
Ammonia is readily available and has cost advantages, said the company

AFC Energy PLC (LON:AFC) said its hydrogen-powered 72kWh, off-grid electric vehicle charging system is on target for commercial launch in December.

The fuel charger will target multi-user sites such as fleet operators, car parks, shopping centres and other off-grid applications and can be readily scaled up to 288kWh through an increase in the integrated energy storage capacity. 

Elsewhere, AFC has signed an agreement with an international manufacturing group to assess an ammonia-to-power off-grid platform.

Ammonia is readily available and has cost advantages, said the company.

“There are existing logistics and supply chains already in place to deliver large volumes of ammonia to end-users. The energy density of ammonia compared with hydrogen gas is far superior, meaningless logistical complexity and trips are required to deliver the same quantum of energy,” the company said in an operational update.

Electrode testing with partner De Nora has also now delivered more than 10,000 hours of continuous service, said AFC, while it is making progress on its high-power density alkaline system.

Adam Bond, AFC Energy's chief executive, said: "In working through the technology and manufacturing challenges, we now have a formidable and market competitive fuel cell which can compete against incumbent fuel cell technologies in terms of emissions, cost and performance." 

"The company's new hydrogen-fuelled EV charger is the focus of our business for the remainder of this year and will set the benchmark for sustainable, off-grid and reliable power supply to an industry whose size is estimated to be near £100bn in the UK alone.”

Quick facts: AFC Energy PLC

Price: 14.475 GBX

AIM:AFC
Market: AIM
Market Cap: £65.22 m
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