AFC Energy Plc AGM Statement (1806D)
April 25 2017 - 2:00AM
UK Regulatory
TIDMAFC
RNS Number : 1806D
AFC Energy Plc
25 April 2017
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. Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
25 April 2017
AFC Energy PLC
("AFC Energy" or the "Company")
AGM Statement
AFC Energy (AIM: AFC), the industrial fuel cell power company,
is holding its annual general meeting ("AGM") at 11.00 a.m. today,
at which Adam Bond, Chief Executive Officer, will deliver a
presentation including the following key points:
-- Updating shareholders on the positive progress the Company
has made against the three-year accelerated plan to
commercialisation for the fuel cell technology platform announced
in 2015
-- Overview of the material advances made in delivering the AFC
Energy technology platform across the past twelve months,
including:
o achieving a material increase in longevity to the fuel cell
stack and electrode performance without a necessary reduction in
power and closing in on 2,000 hours of continuous operation at
stack level;
o significant reduction in electrode failure rate;
o the importance of reducing hydrogen grade acceptance into the
fuel cell system without compromising performance;
o consistent test results showing fuel cell availability over
the internal 90% target;
o AFC Energy is analysing opportunities to reduce costs of fuel
cells which relate positively to competing clean energy
technologies;
o AFC Energy fuel cell electrical efficiency is higher than
solid oxide, PEM, molten carbonate, phosphoric acid, diesel
generators and gas turbines
-- An update on the breakthrough successes achieved in
collaboration with De Nora under the Joint Development Agreement
and the next steps for this partnership;
-- An overview of project development and MOUs
-- An update on the new management team at AFC Energy
A copy of the presentation given to shareholders at the AGM will
be available on the Company's website at www.afcenergy.com.
For further information, please contact:
AFC Energy plc
Adam Bond (Chief Executive Officer) +44 (0) 20 3697 1209
Cantor Fitzgerald Europe - Nominated Adviser and Joint Broker
Andrew Craig
Richard Salmond +44 (0) 20 7894 7000
M C Peat & Co LLP - Joint Broker
Charlie Peat +44 (0) 20 7104 2334
Lionsgate Communications - Public Relations
Jonathan Charles +44 (0) 20 3697 1209
About AFC Energy
AFC Energy plc has developed and successfully operated an
alkaline fuel cell system ("KORE"), which converts hydrogen into
"clean" electricity. AFC Energy's key project POWER-UP demonstrated
the world's largest operational alkaline fuel cell system at Air
Products' industrial gas plant in Stade, Germany in January 2016.
The Company is now looking to build upon an already established
pipeline of commercial opportunities and drive the findings from
the development phase of the technology into a technically
optimised and commercially relevant fuel cell system. For further
information, please visit our website: www.afcenergy.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGMDMGZDVDRGNZM
(END) Dow Jones Newswires
April 25, 2017 02:00 ET (06:00 GMT)
Afc Energy (LSE:AFC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Afc Energy (LSE:AFC)
Historical Stock Chart
From Apr 2023 to Apr 2024