AFC Energy (AFC)

Sector:

Electronic and Electrical Equipment

Index:

FTSE AIM All-Share

20.40p
   
  • Change Today:
    -0.40p
  • 52 Week High: 22.00p
  • 52 Week Low: 11.28p
  • Currency: UK Pounds
  • Shares Issued: 746.26m
  • Volume: 1,442,031
  • Market Cap: £152.24m
  • RiskGrade: 464

AFC Energy shows off hydrogen fuel-cell vehicle charging tech

By Josh White

Date: Thursday 17 Jan 2019

LONDON (ShareCast) - (Sharecast News) - Alkaline fuel cell power company AFC Energy announced the successful demonstration of 'CH2ARGE' on Thursday, which it described as the "world's first" electric vehicle charger based on hydrogen fuel-cell technology.
The AIM-traded firm said the breakthrough previewed the potential to enable 100% clean electricity for future electric vehicle charging.

It said the demonstration of the CH2ARGE unit took place at Dunsfold Aerodrome, home to the BBC Top Gear test track, and saw a BMW i8 as the first car to be recharged with power generated by a hydrogen fuel cell.

The innovation took place after a decade of fuel cell research development at the AFC Energy laboratories, the board explained.

It said that, having now demonstrated proof-of-concept of the CH2ARGE prototype, it was now preparing for the commercialisation of fuel cell-based EV charge solutions to meet the growing demand for environmentally friendly power in the electric vehicle market.

Traditional charging caused pollution with electricity from fossil fuels, the company said, but the CH2ARGE system could apparently be 100% emissions free.

With rapid growth in the global EV market, and ambitious government targets for electric vehicle deployment over the short term, AFC Energy noted that UBS had forecast the investment required in new charging infrastructure to be in the order of $360bn over the next eight years.

"By 2030, it is estimated that there could be nine million electric vehicles on the roads of Britain, up from 90,000 today," said AFC Energy chief executive officer Adam Bond.

"For this transition, we need charging stations to be embedded throughout the country, as well as seeking innovative solutions to overcome the severe limitations of centrally generated electricity.

"By developing and previewing the effectiveness of our CH2ARGE system in the application of EV charging, AFC Energy has shown it is ready to lead the way not only in solving the challenges of increased demand for electricity, but also doing so in a zero emissions approach."

CH2ARGE incorporated AFC Energy's proprietary hydrogen fuel cell system connected to an inverter similar to those used by Toyota at their electric vehicle research centre.

The inverter transferred energy created by the fuel cell to a charger, with the system on preview supported by a 48V battery pack to assist with peak power demands.

AFC said the solution could also be tailored for both on- and off-grid applications, and scaled up as required.

The fuel cell was sized to provide sufficient power to charge EVs concurrently, and could be scaled up to provide solutions for mass recharging at supermarkets, retail venues and sports stadiums.

AFC said the inverters were controlled via AFC Energy's fuel cell control system, which ensured the safe and precise control of the complete setup.

Being integrated into AFC Energy's control system meant that product solutions could be implemented with 'smart charging' capabilities.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

AFC Energy Market Data

Currency UK Pounds
Share Price 20.40p
Change Today -0.40p
% Change -1.92 %
52 Week High 22.00p
52 Week Low 11.28p
Volume 1,442,031
Shares Issued 746.26m
Market Cap £152.24m
RiskGrade 464

AFC Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
55.42% below the market average55.42% below the market average55.42% below the market average55.42% below the market average55.42% below the market average
44.44% below the sector average44.44% below the sector average44.44% below the sector average44.44% below the sector average44.44% below the sector average
Price Trend
41.52% above the market average41.52% above the market average41.52% above the market average41.52% above the market average41.52% above the market average
53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average
Income Not Available
Growth
47.43% below the market average47.43% below the market average47.43% below the market average47.43% below the market average47.43% below the market average
54.29% below the sector average54.29% below the sector average54.29% below the sector average54.29% below the sector average54.29% below the sector average

What The Brokers Say

Strong Buy 2
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 4
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

AFC Energy Dividends

No dividends found

Trades for 17-May-2024

Time Volume / Share Price
16:35 27,742 @ 20.40p
16:35 1 @ 20.40p
16:35 10,288 @ 20.40p
16:35 2,710 @ 20.40p
16:35 2,306 @ 20.40p

AFC Energy Key Personnel

CEO Adam Steven Bond
CFO Peter Dixon-Clarke

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