http://www.afcenergy.com/

Dawnay, Day Corporate Broking Research Note

Aim Admission Document

Interim Results

Highlights for the half year to end April 2013

· Electrode life extended past nine months for the first time
· €6.1 million EU grant earmarked for the Power Up project with a Beta+ test system built and delivered for initial hydrogen purity trials
· Award of a further €1.96 million EU grant in connection with the Alkammonia project to develop ammonia-fed fuel cell systems
· Acquisition of Diverse Energy Ltd's ("Diverse Energy") assets and intellectual property
· Opening of office in South Korea in partnership with Intralink Ltd. and appointment of Robert Kelly as International Business Development Manager
· Initiation of research relationship with Lancaster University
· Initiation of developmental engineering relationship with Foster Wheeler
· Cash balance at 30 April 2013: £8.90 million (30 April 2012: £4.49 million)

AFC Energy wins prestigious fuel cell award

As impressed as I have been by studying AFC's technology almost from its inception, as a layman I could only go on what others, inside and outside the industry were saying.

Of course the company has always been its own believer, as most companies are, after all no one expects a company to be negative about its own product.

Then of course we have bbs, like this one, where we have to try and sort the wheat from the chaff.
There are those posters that always praise the product/company and those that always condemn the product/company.
Then there are those that mainly attempt to give a balanced view, I hope I am one of those in the last camp.

Along the road of the AFC story, I have both been positive, when things are going as I expect and negative when there has been the odd hiccup, mainly due to having insufficient patience!

But this award says more for AFC Energy than all our collective posts.

To receive the top award ,in a competition judged by experts in the fuel cell world (who presumably know what they are on about) over the other 190 plus contenders has to show that the AFC Fuel Cell is a world beater in theory and (unless these experts are wrong) has the potential to becoming a world beater in practice.

Coupled with the due diligence of the technology by AFC's partners and their prospective customers, the 'Rose Coloured Glasses' have definitely come off (I admit to sometimes looking through them), leaving the view of the future crystal clear.

The future even without those rose coloured glasses, looks very rosy indeed!

greek when will it become rosy...... sales....profits.....2020?

Hi Halifax,

My thoughts re profit from sales by end 2014, with a couple of contracts being signed within the next 6 months, with several next year.

I appreciate most posters on here and other sites feel it will take longer.

Regards
Greek.

greek hope you are right, good luck.

And you.

May we both get rich (me richer of course).

I hope Ian Balchin isn't a jinx! ;o)

Mr Roman Abramovich > 11%

He could buy a small footballer for that amount of money! :o)

Ten bob again.

Independent Technology Review

CPI reports strong progress with commercialisation strategy

AFC Energy, the industrial fuel cell power company, has received a further positive independent review of its progress by the Centre for Process Innovation ("CPI"), which concludes that the Company is making strong progress towards the commercialisation of its technology.

Excellent candle, up 10% and reasonable volume.

Hi Skinny,

News leaked or just investors not wanting to be out over the weekend.

Be nice to get an RNS after market close to give us the weekend to digest such and the media to follow up.

:-)

Fuel cell achieves 12 month longevity

Fuel cell achieves major milestone with 12 months longevity

AFC Energy (AIM: AFC), the fuel cell energy developer for industry, is pleased to announce that its revolutionary low-cost, platinum-free fuel cell electrode has set a new Company longevity and endurance record by delivering continuous electrical power for 12 months.

The Company's laboratory electrode passed this milestone late last week after remaining operational beyond 8760 hours at its state-of-the-art facility in Dunsfold, Surrey, UK.

The design and materials used in this electrode have already been validated for volume manufacturing and incorporation into AFC's first 250kW commercial-grade fuel cell system, which has been given the generic name 'Kore' by the Dunsfold team.

This latest milestone increases confidence in the Company's ability to commercialise its fuel cell power generation systems in major industrial markets and its potential to achieve high returns in countries such as Korea, where fuel cells attract a high level of incentives and where AFC is actively pursuing new partners.

Ian Williamson, chief executive of AFC Energy, commented: "We have proven the robustness of our world class fuel cell technology for industrial and stationary applications with the aim of making it competitive with both renewable and fossil fuel technologies. The next steps are to replicate this 12 month longevity in real world environments, continue improving our electrode power output and introduce our 'Kore' large scale systems. I am confident that we are already well placed to advance our ongoing dialogue with existing and potential new partners to translate today's news into future commercial contracts."

AFC Energy has focussed on lowering the cost of fuel cell derived energy by extending fuel cell longevity, improving power output, developing low cost materials and by adapting proven volume manufacturing processes for its fuel cell production. This achievement goes hand-in-hand with the improvements the Company is seeing in power output from its technology, an area where AFC Energy has already made great strides with a 60% increase over the past year.

The experience and information gained from this success has immediately been applied to the Company's trials with its longstanding partner, Azko Nobel, one of the world's largest chemicals groups and a UK-based commercial scale demonstration project, Power Up, which is supported by the European Union.

Dr. Gene Lewis, Technical Director at AFC Energy, commented: "It is a proud moment for the technical team in achieving this milestone, which demonstrates the potential of our technology and the rapid progress being made to commercialise it. I firmly believe we have a disruptive low cost technology that can shake up the entire fuel cell industry in the next few years."

Electrodes are the critical components of a fuel cell which enable the electrochemical reactions to occur between hydrogen and oxygen (from air) to generate electricity, heat and water.

This must surely mean at least 1 contract next month.

AFC ISA Bound!

I wonder how many potential investors out there, hold back because AFC are in the AIM and therefore their shares can't be put into an ISA.

But after 5th August that all changes, so I expect that to have quite an effect on the sp during the week of the 5th, and in the following couple of weeks as that bit of info sinks in to those who have not yet latched onto that fact.

From III

Strange start to the day, although volume is not that high the offer has pulled the bid up.

Although the mm's are willing to sell shares, they put the offer up which after a few more sells draged the bid up, which makes it look like they have a decent order to fill.

Not often seen were AFC is concerned.

Probably just me, looking for something that isn't there.

Both these and ITM were quite heavily marked down yesterday.