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AFC Energy
- BY: Andrew Hore |
- POSTED: 25/07/2007 |
- COMMENTS: Add yours
Alkaline fuel cell developer AFC Energy says it has signed a memorandum of understanding to supply fuel cells valued at $13.5m to the Indonesian government.
AFC is the exclusive fuel cell supplier to an Indonesian government for a 10 year project to provide 32m households with the ability to generate electricity and produce drinking water. AFC will supply 3,000 3.5kW systems and deliveries will begin in late 2008. AFC has also agreed to build a manufacturing facility in the country. It needs to establish a joint venture within 18 months.
AFC says the delivery of fuel cells to Akzo Nobel’s chlorine production business is on schedule for the first quarter of 2008. The business produces excess hydrogen that can be used to generate electricity. Systems are being trialled in Germany and it is developing a larger system.
AFC floated at 23p a share in April. They have slipped back to 20.25p.
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