Result of Independent Technol

RNS Number : 9969V

AFC Energy Plc

11 November 2010

 



AFC Energy PLC

("AFC Energy" or the "Company")

Result of Independent Technology Review

"Technology team is clearly operating above expectations"

AFC Energy PLC (AIM:AFC), the world's leading developer of low-cost alkaline fuel cells, has received a positive independent review of the technical activity of the Company from Dr. Jon Helliwell, Project Manager, Fuel Cell Applications at the Centre for Process Innovation ("CPI").

Highlights of the review include:

·      The author, Dr. Jon Helliwell, is convinced that the Company will deliver the objectives of its development plan. The degree of focus being applied by the Company to the delivery of its cost and technology objectives, and the technology developments observed by the author, leave him in no doubt that AFC Energy will deliver its first commercial system in line with its projected development timescale. It has been another exciting period of development for the organisation.

·      The Company has now moved away entirely from its former Scimat-based electrode technology to its novel metal-based electrode technology. This has been proven in both individual and stack tests and now forms the basis of its electrode development.

·      The manufacturability of the new electrode and cartridge arrangements have already been examined by the Company and its manufacturing strategy partners WSP/CEL. A pilot development area incorporating key equipment has largely been established

·      The test capability of the Company has increased again as new, more accurate, electrode test equipment and procedures have been introduced

·      The author believes that the Company is maintaining an appropriate balance between the focus on commercialising the consolidated system design and the innovation that supports its technology development plans.

·      Its reorganised technical team is clearly operating above expectations and the Company has also successfully demonstrated that its metal electrode and beta system cartridge concepts are practical and robust.

Commenting on the report Ian Balchin, Chief Executive of AFC Energy said:

"We are, of course, delighted that the progress the Company is making has received such a positive review from an independent expert. It is an endorsement of our achievements so far and the commercial viability of our product. I believe that as we continue to develop the technology, regular independent verification is important in guiding both management and shareholders.

The UK is looking for a system that satisfies green energy demands and we are close to providing it."

A version of the CPI report suitable for publication will be made available on the Company's website later today.

For further information, please contact:

AFC Energy plc Tim Yeo, Chairman Ian Balchin, Managing Director David Marson, Finance Director	[phone]
Allenby Capital Limited                   Brian Stockbridge Alex Price	[phone]
Threadneedle Communications - financial press John Coles Fiona Conroy	[phone]
Life-Size Media - other press Emma Murphy Gemma Percy	[phone] [e-mail]

Note to Editors

AFC Energy provided Dr Helliwell with complete, unrestricted access to staff and technology for the purpose of the assessment. CPI previously published a review of AFC Energy's technology in April 2010.

About AFC Energy 

AFC Energy is the world's leading developer of low-cost alkaline fuel cells. AFC Energy's technology is focused on large-scale industrial applications and the objective of producing the lowest possible unit cost electricity. Please visit our website at www.afcenergy.com.

About CPI

The Centre for Process Innovation was established by the Regional Development Agency, One North East, in 2004 to act as a Centre of Excellence for the Process Industry. One of its first projects was the Fuel Cell Application Facility which allowed it to evaluate the technology and determine what was required in order to realise commercialisation. It has established a number of practical fuel cell demonstrations in the North East of England (including the world's first fuel cell powered lighthouse) which have given it insight into what constitutes a realistic fuel cell technology with the potential for commercial success. www.uk-cpi.com

 

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