AFC Energy Plc KORE Fuel Cell System Achieves Operation (8106U)
August 03 2015 - 2:00AM
UK Regulatory
TIDMAFC
RNS Number : 8106U
AFC Energy Plc
03 August 2015
3 August 2015
AFC Energy PLC
("AFC" or the "Company")
AFC's KORE Fuel Cell System Achieves Landmark Operation in
Stade, Germany
Highlights
-- Successfully commissioned and commenced operation of first
KORE fuel cell system in Stade, Germany
-- Historic Milestone 9 achieved - Phase-1 POWER-UP programme
-- AFC still on target to achieve first full commercial scale
operability of KORE module (final Milestone 11) in late 2015
AFC Energy plc (AFC.L), the industrial fuel cell power company,
is pleased to announce that it has successfully commissioned and
commenced operation of its first KORE fuel cell system in Stade,
Germany.
This milestone marks the achievement of nearly a decade's
investment in the AFC fuel cell system which, when fully
operational in late 2015, will be the world's largest alkaline fuel
cell system operating at an industrial facility selling power into
the national electricity grid.
Following a week long commissioning of the fuel cell system at
Stade, AFC's team on-site were able to affirm the safety and
integrity of the system and introduced hydrogen into the fuel cells
on Friday, 31 July 2015, to achieve a peak output of 7.56kW from a
single operational cartridges (one of 24), with this cartridge
intentionally operating at less than full capacity as envisaged
within the POWER-UP commissioning programme. Importantly, when the
original POWER-UP milestones were devised and announced to the
market on 8 December 2014, the initial output target of the KORE by
the end of July 2015 was set at 7.5kW to 15kW, however this was
based on a forecast of two cartridges. To achieve this target with
just one cartridge is great news for the technology.
The results reflect an historic achievement on two levels:
firstly, not only AFC has delivered on its commitment to deliver a
minimum 7.5kW from the system at the commencement of Phase 1 of the
programme; but this achievement has been delivered within a
timeframe (end of July 2015) which was arguably one of the most
aggressive set within the Company's history and demonstrates the
ability of the Company to deliver on its commitment to its
shareholders and the market in general both as to time and
cost.
The announcement marks achievement of Milestone 9 (of a total 11
Milestones) of the Status Update issued by AFC on 8 December 2014
(as set out in the Attachment below) and is the initial production
of power on site with the associated testing prior to increasing
power output in Phase 2. This milestone has been achieved with the
cartridges validated by AFC in February 2015 at the required flow
and operational settings.
This landmark achievement, executed in accordance with the
ambitious timeline set in December 2014, gives AFC significant
confidence in the upcoming commencement of Phase 2 of power
generation on site. It will be following delivery of Phase 2, which
was initially envisaged as commencing in Quarter 4 2015, but which
now could be further accelerated, that AFC will commence selling
power into the German grid through its Power Purchase Agreement
(PPA) with Stadtwerke Stade (as announced on 27 July 2015).
This achievement further validates the prospect for long-term
technical and commercial viability of the Company's alkaline fuel
cell technology, whilst also establishing a positive precedent, in
this prototype installation, that AFC's first major industrial
project is on track to achieve its future significant milestones.
Operational information pertaining to the fuel cell system will now
be generated over the coming months for the further validation of
the system both to AFC, and its international development,
manufacturing and finance partners.
Mr Adam Bond, AFC's Chief Executive Officer, said: "Today marks
one of the proudest moments in AFC's history. For the first time,
the Company's research and development programme of the past decade
has commenced commercial operations. This is a remarkable
achievement delivered in record time and in a first class
collaborative effort across all involved. On a personal level, I
wish to extend my sincere thanks and congratulations to all the
staff at AFC who have worked tirelessly and remained focussed over
the past seven months on delivering something truly significant and
establishing the platform for the commercialisation of this world
leading alkaline fuel cell technology."
Mr Bond added, "It would be remiss of me to not also acknowledge
the tireless efforts of our host partners, namely Air Products, and
our contractors and sub-contractors in establishing not only the
permitting and regulatory compliance of the system in Germany, but
also delivering the civils, utilities, buildings and associated
infrastructure for the KORE system at a remarkable pace in the face
of many challenges."
For further information, please contact:
AFC Energy plc
Adam Bond (Chief Executive Officer) +44 (0) 20 3697 1209
Zeus Capital Limited - Nominated Adviser and Joint Broker
Phil Walker, John Treacy
Alex Davies, John Goold +44 (0) 20 7533 7727
M C Peat & Co LLP - Joint Broker
Charlie Peat +44 (0) 20 7104 2334
Lionsgate Communications - Public Relations
Jonathan Charles, Rachel Rigby +44 (0) 7855 946972
About AFC Energy
AFC Energy plc is fast approaching commercialisation for its
proven low-cost alkaline fuel cell system ("KORE"), which converts
hydrogen into 'clean' electricity. AFC's key project POWER-UP will
demonstrate the world's largest alkaline fuel cell system at Air
Products' industrial gas plant in Stade, Germany. The date for the
demonstration of the 240kW KORE system has been fast tracked to
December 2015, representing the final phase of AFC's
pre-commercialisation technical development programme and creating
the platform for the Company's global commercial fuel cell
deployment. For further information, please visit our website:
www.afcenergy.com
Attachment
No. Milestone Timing Status
---- ------------------------ --------- ------------
1 Confirm that Dec 2014 Achieved
cartridges
can achieve
operating temperature
using heat
produced from
fuel cell reactions
-i.e. no external
heat applied.
(KORE system
start-up involves
the cartridges
self-heating
until they
achieve operating
temperature).
---- ------------------------ --------- ------------
2 Appoint engineering Dec 2014 Achieved
consultant
to commence
design package
for POWER-UP
programme in
Stade, Germany
---- ------------------------ --------- ------------
3 Commence operational Jan 2015 Achieved
performance
monitoring
of a 50 cell
stack within
an industrial
gas plant environment.
---- ------------------------ --------- ------------
4 Commence operational Feb / Achieved
performance March
monitoring 2015
of a 100 cell
stack (up to
51 live cells)
within the
new KORE cartridge
(first time),
with this trial
to take place
within an industrial
gas plant environment.
---- ------------------------ --------- ------------
5 Commence construction Feb 2015 Achieved
of POWER-UP
facilities,
utilities and
connections
at Stade, Germany
(subject to
timely permitting
and consents).
---- ------------------------ --------- ------------
6 Conclude construction May 2015 Achieved
of POWER-UP
facilities,
utilities and
connections
at Stade, Germany.
---- ------------------------ --------- ------------
7 Commence installation May 2015 Achieved
of POWER-UP
KORE system
at Stade, Germany.
---- ------------------------ --------- ------------
8 Commissioning June Achieved
of POWER-UP 2015
KORE at Stade,
Germany.
---- ------------------------ --------- ------------
9 Commence Phase July Achieved
1 - POWER-UP 2015
programme.
[Emphasis on
initial production
of power and
associated
testing prior
to increasing
power output
in Phase 2]
---- ------------------------ --------- ------------
10 Commence Phase Q4 2015 In progress
2 - POWER-UP
programme
---- ------------------------ --------- ------------
11 Achieve first Dec 2015 In progress
commercial
scale operability
of KORE module
as part of
POWER-UP programme
---- ------------------------ --------- ------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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