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AFC Energy has completed the 500 hour trial of a fully scaled fuel cell unit.
This completes phase one of the partnership with AKZO Nobel. This is the type of cell that will be used in larger fuel cell systems.
Phase two is the development of the complete fuel cell. That is on target for next January. If everything goes to plan AKZO Nobel will receive its first fuel cells by August 2008 and it will use excess hydrogen from chlorine production to power them.
At 15.25p, the shares are well below the flotation price of 23p.
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