http://www.afcenergy.com/

Dawnay, Day Corporate Broking Research Note

Aim Admission Document

Close at middle price 39p no UT

UAE says to invest $35 bln in clean energy by 2021
AFP – 5 hours ago

The gas-rich United Arab Emirates will invest $35 billion in clean energy by 2021 as it seeks to reduce its dependence on fossil fuels following crude's global price slide, it said Sunday.

"By 2021, our investments in nuclear and solar projects will reach $35 billion (31 billion euros)," Energy Minister Suhail al-Mazrouei said at an energy conference in Abu Dhabi.
He said that the UAE's four nuclear reactors currently under construction will, once operational, "provide 24-25 percent of electricity consumption in the country".

An international consortium led by Korea Electric Power Corp (KSE: 015760.KS - news) won a contract in 2009 worth more than $20 billion to build the four 1,400-megawatt reactors at Baraka, west of Abu Dhabi.

"Our aim is to increase the share of renewable energy to 30 percent between now and 2020/2030, and to reduce that of natural gas to 70 percent," Mazrouei said.
Speaking on the sidelines of Sunday's conference, he told AFP that "this diversification also seeks to ensure price security and stability" for consumers.............
yahoo.com/news/uae-says-invest-35-bln


support on the 200 days MA

43.75p +4.75p

Gap at the start and now paying up to 45.75p, with good volume already after the news.............

AFC's KORE Fuel Cell System Achieves First Delivery of Power
into the German Grid

Highlights
· Successfully delivered first power into the grid from AFC fuel cell facility in Stade, Germany

· AFC remains on target to achieve first full commercial scale operability of KORE module (final Milestone 11) in late 2015

AFC Energy plc (AFC.L), the industrial fuel cell power company, is pleased to announce that it has successfully delivered its first power into the German power grid, as part of the planned trials of the power electronics connected to its first commercial scale KORE fuel cell system.

This achievement is the final test stage of proving and providing electricity to the German grid from the KORE system and confirms that AFC remains on target to deliver the world's largest alkaline fuel cell system operating at an industrial facility later this year.

In the final stages of the power electronics tests, completed in collaboration with Siemens AG, power was delivered into the local grid at between 5.9 - 7.4kW, for a period of approximately one hour. This has generated test data which is required in preparation for the operation of at least 40kW from 8 cartridges, comprising milestone 10 of the 11 point plan, scheduled for 2015.

Mr Adam Bond, AFC's Chief Executive Officer, said: "With the KORE system successfully commissioned in July and the 8 cartridges required for the delivery of Milestone 10 now having arrived in Stade, the trialling of the power electronics and connection to the power grid was one of the final stages of testing required before we deliver an initial 40kW from 8 cartridges within the KORE system. We look forward to providing further updates when Milestone 10 is achieved."

Why Now Is The Perfect Time To Buy AFC Energy plc,
By Peter Stephens - Monday, 5 October, 2015

Shares in alkaline fuel cell developer AFC Energy (LSE: AFC) are up by as much as 13% today after the company announced that it has successfully delivered the first power to the grid from its fuel cell facility in Germany.
This is a very positive piece of news flow for the company as it is the final test stage of proving and providing electricity to the German Grid from its KORE system. It also confirms that AFC is on-track with its 11 point plan, of which it is progressing with stage 10 at the present time.

The tests results showed that power was delivered to the local grid at between 5.9 and 7.4 kW for around an hour. The test data generated will help AFC to prepare for the operation of upwards of 40 kW from eight cartridges and, with them having been delivered to its plant in Germany, it expects to complete stage 10 of its 11 stage plan before the end of the calendar year.

Clearly, AFC is a relatively volatile stock, with its share price having fallen from 58p in July to just 33p in September. However, with a greater focus on cleaner power generation across the globe and AFC being a profitable business with a bright future, now seems to be the perfect time to buy a slice of it for the long term.

from one of my latest trade mags ......
AFC
when fully operational in late 2015, it (Stade, Germany) will be the world's largest alkaline fuel cell system operating at an industrial facility selling power into the national electricity grid



and perhaps not unconnected, also from Germany .....
Hyundai hydrogen fuel cell car travels record distance in 24 hours

i wonder if Hyundai make their own cells, or if not, with whom do they work?

easy come easy go with profits

sold yesterday my first lot at 43p+ put the money on TERN
and today the other one 40.50+ the money has gone to CPX

When I read a RNS I naturally pick out a few or at least a single point to comment on either good or bad.

With this RNS I can't see any point in singling out anything simply because every aspect mention is in the good category and I can't see any negatives at all.

Yes we all want jam tomorrow, but AFC instead of week promises that many AIM companies roll out give us sensible and obtainable targets that will I am sure produce the results we all feel are achievable.

Well done to Mr Bond and his team, (The world is not enough).

StockMarketWire.com
AFC Energy has successfully achieved the penultimate Milestone 10 in its 2015 POWER-UP programme.

It achieved Milestone 10 by commencing temporary operation of an entire tier of eight fuel cell cartridges on the KORE system where it achieved a maximum output from the tier of just over 40kWe.

The eight fuel cell cartridges used in this Milestone 10 trial will also be used to test the second and third tiers of the system in the coming weeks. This will require that they are cycled (switched on and off) many times. In order to preserve their effective operational longevity for the further testing, they were therefore not run to full capacity in this latest test, nor for an extended time period.

Each tier (there are three in total) within the KORE fuel cell system is capable of operating independently of the other so the successful operation of a single tier of eight cartridges is a significant further de-risking of the system and in particular the Balance of Plant.

The eight cartridges will soon be installed into each of the remaining two tiers to test the operational capability of the rest of the system before the final milestone of 240kWe is trialled in December 2015. At this stage, AFC is confident that the learnings gained from this trial, both in terms of the fuel cell cartridges and the Balance of Plant, together with the infrastructure to connect the system to the grid, will greatly support the delivery of Milestone 11 in December 2015.

hydrogen fuel cells are slowly gaining traction

from a trade paper ......
The US Maritime Administration has announced field trials for "the first prototype hydrogen fuel cell to power onboard refrigerated containers"

has drop a lot today but Indicators still negative ......... late news of Options granting

AFC Energy Grants Options Over 480,000 Shares (ALLISS) - Tue, 13th Oct 2015 16:34
LONDON (Alliance News) - AFC Energy Tuesday said it has granted options over 480,000 shares at 39.25 pence each.
The industrial fuel cell power company said options over 450,000 shares were granted to a consultant which provides commercial advisory and business development services in the Middle East.
The remaining options over 30,000 shares were granted to an employee under its share option scheme.
Shares in AFC Energy closed down 5.1% at 37.25p on Tuesday.

9% spread......That's not very friendly!

For those that are interested in the technical details, this links explains the complexities of developing the fuel cells:

http://www.innomech.co.uk/automating-commercial-fuel-cell-manufacture-for-afc-energy.html

harry - if you want to buy, you just place an order with a limit ..... no need at all to be obliged to pay the apparent stread

Thanks Mr C, but it was more a comment on the spread discouraging investors from trading the stock. I like to hold some and trade some in stocks like these, just in case it all goes horribly wrong!

i don't think AFC is ever heavily traded, or if so, but rarely
thus with all such stocks, trading is tricky and potentially dangerous if you have time constraints

Looks ready to go better again @ 35p
volume, paying higher prices and Indicators up from oversold. A double bottom with the same intraday lows during mid- September

Intralink case study -- http://www.intralinkgroup.com/sectors/energy-environment/

There was a Telegraph comment - Fuel cell related........
By Alan Tovey, Industry Editor 2:00PM GMT 31 Oct 2015

Hydrogen or electric: which will drive petrol cars off the road?
As drivers look to the future, will it be hydrogen that is powering their vehicles in coming decades?

There is a race taking place in the motor industry between two powerful camps to decide what will propel the cars of the future.
On one side sit some of the big names of car making: Japanese giant Toyota; its domestic rival Honda; and their Asian neighbour Hyundai, who are all betting big on the potential of hydrogen power.
• Adapt or die: the new challenge facing UK manufacturers
The other camp, smaller, but more vocal, is being led by tech visionary Elon Musk, who is convinced that electric cars powered by batteries represent the future and is sticking with them for his Tesla cars.
Toyota has put billions into research to deliver the Mirai, a saloon powered by a hydrogen fuel cell. A handful of these cars are now on UK roads as early adopters such as Transport for London investigate their potential and Toyota examines how the concept could be scaled. Hyundai’s ix35 and the Honda Clarity are also on the road.
340 miles
The range of Toyota's Mirai, which is powered by a single hydrogen fuel cell
Hydrogen fuel cells work by using a “fuel stack” to mix outside air with the hydrogen they carry in pressurised tanks in a chemical reaction which creates electricity, with the only emission being water. This electricity is used to charge a battery or drive electric motors to power the car, known as a fuel cell electric vehicle (FCEV).

While this clean power might seem to be the obvious choice, Musk is less than convinced. Hydrogen power is “extremely silly” according to the billionaire PayPal founder, who is expending much of his fortune constructing a “gigafactory” to produce the batteries that power his Tesla electric vehicles (EVs).
“Hydrogen is an energy storage mechanism, it’s not a source of energy,” he told a conference earlier this year. “So you have to get that energy from somewhere. It’s extremely inefficient.” He believes that hydrogen is limited in that to create it, water needs to be electrolysed and the power to do this has to come from somewhere. It then has to be pressurised so enough can be stored in a tank to drive a car.

“If you took a solar panel and used that energy to just charge a battery directly, rather than trying to split water, take out the hydrogen, dump the oxygen, compress the hydrogen and then put it in a car to run the fuel cell, it is about half the efficiency,” he said. “Why do that? It makes no sense.”
Musk is the most outspoken in his doubts about hydrogen power but he’s not alone. This summer Hideyuki Sakamoto, a Nissan executive, also claimed that the future was electric – and that electricity would be stored in batteries.
“Our zero-emission strategy centres on electric vehicles,” he told Nissan’s AGM. “We are pursuing improved electric powertrain technologies which will enable us to mass produce and market EVs that equal or surpass the convenience of petrol-powered cars.”
Nissan already produces the Leaf, the best selling EV on the market, and Sakamoto’s statement indicates hydrogen will continue to play only a small role in the company’s future.
So is the future battery or hydrogen?
In hydrogen’s favour are its similarities to petrol. It takes a few minutes to fill a tank with the gas in a process similar to topping up a conventional car and many have a long range – the Mirai’s is 340 miles. Against it is the huge and costly task of developing the infrastructure to support hydrogen, from creating enough of the gas, transporting it and building a network of filling stations – there are just four in the UK at present.

EVs powered solely by batteries have shorter ranges and charging them takes longer – even “rapid” chargers take 30 minutes – but the infrastructure to support battery charging is seen as easier to introduce.
Cost remains a factor for both. FCEVs’ infancy means prices are high – Toyota’s Mirai lists at £66,000 – and EVs such as Nissan’s Leaf and Tesla’s cars are priced at a premium over similar-sized conventional vehicles.
Toyota is open about the challenges of hydrogen, but has set itself the target of delivering more than 30,000 FCEVs within five years. “Fuel cells are part of our corporate vision,” says Neil Spires, of Toyota. “We buy into the idea of a hydrogen society because it’s such a good way of storing energy.”

This involves networks of hydrogen filling stations which can generate the gas through renewable power such as wind turbines, and in the longer term an industrial base creating the gas. “It’s a major challenge but if the auto industry comes on board, hopefully it will grow mutually,” Spires adds. “The EU buys into it, and we could end up with a smarter society where countries can control their energy needs.”
It’s a huge leap, especially as Spires expects to sell just 15 Mirais in the UK next year – but it was Toyota which made the hybrid mainstream with its Prius, which it introduced in 1997.
“Current hybrids like the Prius are a stepping stone to the longer-term goal,” says Spires. “We’re not saying hydrogen isn’t a bigger challenge, but when we introduced the first Prius we were laughed at.”
Tesla has developed a robot chargin device

While infrastructure issues are significant, in the long term it makes economic sense to tackle them, according to Henri Winand, chief executive of Intelligent Energy, a Loughborough-based company that makes fuel cells.
“Fuel cells are a ‘one to many’ system, but plugs to charge electric cars are ‘one to few’,” he says, likening charging a battery to “filling a fuel tank with a syringe” because of the time it takes, meaning many more plugs are needed.

Germany is planning 500 hydrogen filling stations
“People want cars that give them freedom, not take it away,” says Winand. “They do not want to plan their lives around their car’s range, they want to fill up and go.”
Germany is planning 500 hydrogen filling stations, showing the infrastructure is achievable and once a critical mass of FCEVs are on the road, a hydrogen network will be economic in a way that EVs cannot be for car manufacturers, Winand claims.
“An EV just can’t achieve the same range,” he says. “It’s simple: you want to go further so do you put in more fuel with a bigger tank or do you add heavy, expensive batteries. That battery is hardware which is capital expenditure for car makers, it’s just not economic when you are talking making masses of cars.”

A hydrogen fuel tank in a Toyota Mirai Photo: Bloomberg
Less sure of a hydrogen-driven future is Paul Newton, auto analyst at IHS. “While a more complex technology, fuel cells are a genuine solution to the almost unbreakable model of filling up and driving off. But it’s unlikely they will take over or compete with EVs on a cost and complexity basis.”
Where most experts broadly agree is that motorists of the future are likely to drive a mixture of vehicles. “No one is really gambling one way or the other,” says Newton. “Fuel cells or pure electric cars won’t completely replace hybrids or petrol engines for decades.”

http://www.telegraph.co.uk/finance/newsbysector/industry/engineering/11966944/Hydrogen-or-electric-which-will-drive-petrol-cars-off-the-road.html

A second day on the rise will be nice, but already on the up at the start with an UT @ 35.50 at 8am and since moving along with ups and downs

is going places now 37.375p +2.50 (+7.14%) with some good volume with 2 hours trading there is more than yesterday, not seeing for some time

Share price has stop rising as some manipulation must have gone somewhere, as the strong order book this morning is now strong on the offer side, so hardly any trading.
Oil prices are on the rise again this afternoon, it always helps a good high oil price