In a quarterly newsletter addressed to shareholders, AFC Energy explained that in the quarter ended 31 December 2017, the company achieved very significant improvements with its fuel cell system.

AFC Energy believes that these advancements demonstrate a platform for future commercial deployment with projected performance of the system well in excess of the objectives set in 2017.

AFC Energy’s fuel cell system is now at a point where the increasing level of operational data gained, both at the electrode and system level, is building a compelling case for commercial deployment of the system.

AFC Energy’s management is confident that, with the progress made at the base technology level, integrated with upstream hydrogen (H2) generation and downstream power generation technologies, the market for the company’s fuel cell will open into previously unexplored market segments in 2018

The company highlighted that the single most important element in the commercialisation of a fuel cell system is the ability of the technology to reduce the overall cost structure of the system in parallel with increasing the longevity of electrode operation.

”I am extremely optimistic and excited about the prospects for a successful 2018.”

Adam Bond, AFC Energy CEO

 De Nora Joint Development Agreement (JDA) update

The JDA with De Nora continues to deliver dividends for the commerciality of the AFC Energy fuel cell system.

The collaboration with De Nora in developing a cathode and anode pairing (collectively ‘the electrode’) has provided increasing confidence that not only is the AFC Energy fuel cell capable of operating for a period of 12 months – 2017’s target – but for periods greater than 24 months and in due course, up to and in excess of 48 months.

After testing over 200 alternative electrode pairings in collaboration with De Nora, they have subsequently narrowed these to a select few that AFC believes are capable of delivering the life cycle it requires.

Fuel cell stack design

Complementing the work jointly undertaken between AFC Energy and De Nora on the electrode, AFC Energy has revised and updated several other integral parts of the fuel cell stack which not only allows for the physical integration of the electrode, but also optimises the flows / pressures within the stack for all fluids i.e. H2, air and electrolyte. This work has also incorporated significant developments to minimise / eliminate liquid / gas path deviation within the stack, which from observations, had created some detrimental legacy issues for the company’s previous fuel cell system.

AFC Energy CEO, Adam Bond, commented, “With a technology platform well advanced, exciting new developments being made with our technology partners, new and emerging deployment opportunities in collaboration with third party technologies and innovations ready to consolidate, with £5.8m in the bank at the end of 2017 and over £1m in cash receipts due from EU grant-funded projects and UK R&D tax credits in the first half of 2018, I am extremely optimistic and excited about the prospects for a successful 2018.”