AFC Energy (AFC)

Sector:

Electronic and Electrical Equipment

Index:

FTSE AIM All-Share

18.60p
   
  • Change Today:
      0.42p
  • 52 Week High: 22.00
  • 52 Week Low: 11.28
  • Currency: UK Pounds
  • Shares Issued: 746.26m
  • Volume: 676,533
  • Market Cap: £138.80m
  • RiskGrade: 464

AFC Energy hails successful testing of ammonia cracker tech

By Benjamin Chiou

Date: Monday 23 Oct 2023

LONDON (ShareCast) - (Sharecast News) - Hydrogen power generation technologies group AFC Energy has reached a new milestone with its new ammonia cracking technology, with testing proving its ability to deliver fuel cell grade hydrogen "on a modular, scalable basis".
Results, which have been independently tested by the UK's National Physical Laboratory, showed that the tech successfully achieved 99.99% hydrogen from single reactor testing.

AFC Energy's ammonia cracker enables ammonia to be "cracked" into hydrogen and nitrogen molecules. The hydrogen can then be consumed as a fuel in fuel cells or combustion with the nitrogen emitted to atmosphere with zero carbon emissions. However, the presence in the hydrogen of uncracked trace ammonia has the potential to damage fuel cells.

Regulations - namely the International Organisation for Standardisation (ISO) 14687:2019 - govern minimum quality characteristics of hydrogen as a fuel in vehicular and stationary fuel cell applications, and the maximum level of residual ammonia permitted.

"Testing confirmed ammonia levels in hydrogen stream were materially less than the limits required to meet ISO 14687:2019 standards for vehicular and stationary fuel cells," the company said.

Commenting on the results, AFC Energy's chief executive Adam Bond said: "Achieving the ISO standard is key for the global adoption of ammonia as a sustainable clean fuel."

The company said that ammonia is expected to play "a growing role in decarbonisation targets for industry and maritime due to its high energy density (relative to hydrogen gas) and potential to displace conventional fossil fuels and carbon emissions". Ammonia is also seen as an enabler to the international trade of hydrogen.

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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 18.60p
Change Today 0.42p
% Change 2.31 %
52 Week High 22.00
52 Week Low 11.28
Volume 676,533
Shares Issued 746.26m
Market Cap £138.80m
RiskGrade 464

AFC Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
54.46% below the market average54.46% below the market average54.46% below the market average54.46% below the market average54.46% below the market average
41.18% below the sector average41.18% below the sector average41.18% below the sector average41.18% below the sector average41.18% below the sector average
Price Trend
10.91% above the market average10.91% above the market average10.91% above the market average10.91% above the market average10.91% above the market average
12.82% above the sector average12.82% above the sector average12.82% above the sector average12.82% above the sector average12.82% above the sector average
Income Not Available
Growth
48.09% below the market average48.09% below the market average48.09% below the market average48.09% below the market average48.09% below the market average
41.18% below the sector average41.18% below the sector average41.18% below the sector average41.18% below the sector average41.18% 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 26-Apr-2024

Time Volume / Share Price
16:35 37,705 @ 18.60p
16:35 9,149 @ 18.60p
16:35 343 @ 18.60p
16:35 8,928 @ 18.60p
16:35 2,154 @ 18.60p

AFC Energy Key Personnel

CEO Adam Steven Bond
CFO Peter Dixon-Clarke

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