AFC Energy achieves record annual revenues
13th Feb 2013 11:10
AFC Energy trimmed its losses in 2012 as the industrial fuel cell company delivered its highest annual revenues from operations. The group said commercial customer sales, licence income and grant income drove results in the year to October 31st. Commercial customer sales represented £0.26m of the
Read moreAFC Energy receives European Union grant
17th Dec 2012 08:09
AFC Energy has been awarded a European Union grant of up to 1.96 million euros to develop ammonia fed alkaline fuel cell systems. The industrial fuel cell power company announced Monday the funds would provide three years financial support for the Alkammonia project, commencing next March. The Fu
Read moreAFC energised by EU grant
7th Nov 2012 09:44
AFC Energy, an industrial fuel cell company, and plant operator Industrial Chemicals (ICL) have been awarded a European Union grant of up to six million euros for the installation of the world's largest alkaline fuel cell energy plant at ICL in Essex. The grant is subject to final negotiation and,
Read moreAFC Energy gets injection of cash from Abramovich
11th Oct 2012 08:41
AFC Energy, the industrial fuel cell company, has announced an equity investment into AFC by Ervington Investments, the ultimate beneficial owner of which is Russian business tycoon Roman Abramovich. Ervington has subscribed for 32.6m new ordinary shares at 26.6p each, raising £8.27m net of costs.
Read moreAFC milking government praise
10th Sep 2012 10:33
AFC Energy, the industrial fuel cell company, has highlighted its latest glowing assessment by the government sponsored technology innovation centre known as 'Catapult'. Inspector Dr Jon Helliwell said the "pace of development within AFC Energy appears to be accelerating and the company has clearly
Read moreResource round-up: Sirius Minerals, Matra, AFC Energy
5th Jul 2012 10:03
Global potash firm Sirius Minerals reported promising results at its project in York. It said a third borehole at the site had revealed lateral consistency of the deposit, which the firm said was an important step to achieve sufficient defined resource to underpin financing of the project. AFC Ener
Read moreAFC to build record-sized clean energy facility
25th Jun 2012 10:12
AFC Energy has teamed up with Industrial Chemicals Limited to build the UK's largest fuel cell facility to generate clean energy. The facility is designed to created one mega watt of power - enough energy to power 500 homes - by harnessing hydrogen created as a waste product at ICL's plant in Essex
Read moreAFC bringing space tech to Surrey
6th Mar 2012 10:37
AFC Energy, the UK company looking to commercialise alkaline fuel cell production, has invested in a new production facility in Surrey. The £150,000 outlay on a site at Dunsfold Park will enable the increased production of fuel cells with "full cartridge assembly". The company is looking to use th
Read moreSmall caps round-up: Angel Biotech, Energetix, Hardide...
5th Mar 2012 14:07
Angel Biotechnology, a biopharmaceutical contract manufacturer, has announced that it is about to enter what the directors believe is an 'unprecedented period of growth', rendering a staffing restructure necessary. This has begun with the appointment of Dr Stewart White, who the firm says has alread
Read moreAFC Energy drops as losses grow
20th Feb 2012 11:02
AFC Energy, the alkaline fuel cell company, has fallen 4% after revealing that its losses are growing. The company says asset write downs, increased R&D spend and consultancy costs have contributed to the operating loss growing from £3,051,768 in 2010 to £4,390,192 in 2011. The company argues its
Read moreAFC Energy gets strong independent review
13th Feb 2012 10:00
AFC Energy, the British company using technology from space stations to develop alkaline fuel cells, saw a big spike in its share price this morning after announcing a positive independent technology review. The review, by the quasi-governmental Centre for Process Innovation, gave AFC the thumbs up
Read moreAFC commissions first fuel cell system
11th Aug 2011 09:05
Shares in alkaline fuel cell developer AFC Energy rose by a tenth after the company said that it has finished the commissioning of its first commercial-scale fuel cell system. "This is a significant milestone for AFC Energy. Commissioning of the Beta System is the culmination of five years' work by
Read moreAFC Energy's loss widens as costs rise
7th Jul 2011 11:08
AFC Energy's shares slumped 8% on Thursday after the low-cost alkaline fuel cell developer posted wider pre-tax loss due to higher expenses related to expansion and products development. For the six months to 30 April, the company reported a pre-tax loss of £1.9m, compared to a loss before taxation
Read morePositive independent technology review for AFC Energy
16th Jun 2011 15:06
Low-cost alkaline fuel cell developer AFC Energy has received a positive independent interim review of its technical activity from the Centre for Process Innovation (CPI), marking a step towards commercialisation of its fuel cell systems. After assessing the barriers to CE-accreditation, the CPI s
Read moreAFC raises funds, loses MD
27th May 2011 10:00
Alkaline fuel cells developer AFC Energy has raised £3.95m from a share placing at a price of 40p per share. The firm said the new capital would be used to increase the testing of its commercial fuel cell systems, including the expansion of operating premises. It said the placing was expected to p
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