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AFC Energy

  • BY: Andrew Hore |
  • POSTED: 26/01/2009 |

Fuel cells developer AFC Energy has identified design improvements for its 3.5kW fuel cell system, which should enable it to complete the delayed deliver of the first system to AkzoNobel. 

The test of the fuel cell system showed that it did not reach the target for electrical output and durability. A technical review has identified several problem areas and improvements are being put into effect. 

AkzoNobel appears to still be supportive of AFC. The first system will be delivered to its Bitterfield plant and will use hydrogen produced there.  The system should be delivered in the coming months.

At 1.625p a share, AFC is valued at £2.07m. At the end of October 2008 there was £3.8m in the bank, although this is likely to have fallen significantly since then. 

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