The company is engaged in developing alkaline fuel cell systems that use hydrogen to produce clean electricity. Alkaline fuel cells have been around for some time. First developed back in 1839, they were used to power the US manned space missions, but at that time the technology was too expensive to be commercially-viable. The company is completely focused on developing a low cost fuel cell system. Alkaline fuel cells are among the most efficient with electrical efficiency at over 60% and achieve lower costs through an operating temperature of just 70 degrees centigrade. The lower the temperature, the lower the cost of the materials needed to create a working and reliable electrode and system, so the fuel cell system is being developed utilising low cost injected moulded plastic and rubber sealants.
Afc Energy Plc Ord 0.1P is listed on the London Stock Exchange trading with ticker code AFC.L, and is part of the Electronic & Electrical Equipment sector. It has a market capitalisation of £1,954m, with approximately 426m shares in issue.
Afc Energy Plc, officially known as Afc Energy Plc Ord 0.1P was formed in January of 2006, making the company thirteen years old. The company filed its latest accounts on 31st October 2014, showing a turnover of approximately 782 thousand GBX, and a pre-tax profit margin of -748.92%. Afc Energy Plc currently has 6 directors, and has had 18 previous directors over the last 13 years. In the last set of accounts produced by Jeffreys Henry Llp, the company showed 2.70 million paid in salaries to the 49 staff (average wage of 55 thousand), with the directors receiving an average 154 thousand each. In the accounts filed in 2014, the company paid 0 in dividends. These accounts also showed Afc Energy Plc to have a net worth of 9.28 million, with 4.86 million held in cash.
Afc Energy Plc is in the Electronic & Electrical Equipment sector.
Afc Energy Plc is in the AIM 350 index.
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