AFC Energy Supports Creation Of Power Station Using Fuel Cell Tech

15th Jul 2010 07:55

LONDON (Dow Jones)--AFC Energy PLC (AFC.LN), a developer of low-cost alkaline fuel cell technology, said Thursday it will support the project announced by B9 Coal, and its affiliate B9 Gas, to create a natural gas power station using revolutionary fuel cell technology. MAIN FACTS: -The project, which will incorporate up to 99% carbon capture, was announced in response to the Committee on Climate Change, or CCC, call for the application of carbon capture and storage, or CCS, to natural gas to be included in the Department of Energy and Climate Change, or DECC, CCS demonstration competition. -B9 Gas intends to integrate the known technology of steam methane reforming with AFC Energy's low-cost alkaline fuel cells to create a modular, on-demand, decarbonised power plant. -The project will offer significant advantages over conventional natural gas power plants with turbines, primarily the ability to load follow by storing hydrogen to generate electricity during peak demand. -Shares of AFC on Wednesday closed at 19.3 pence, valuing the company at GBP29.0 million. -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, [email protected] (END) Dow Jones Newswires July 15, 2010 02:55 ET (06:55 GMT)