http://www.afcenergy.com/

Dawnay, Day Corporate Broking Research Note

Aim Admission Document

Still a long way to go.....June 2017

http://project-power-up.eu/category/about-power-up/

I had a 100p target by years end.....still on course.....

I'm wondering if the Pound rising against the Euro is helping here as the development in germany is taking shape....perhaps cheaper to build using british materials....just guessing.....the stock/share has momentum that's for sure.....

I've always thought that giant oil companies would snap up fuelcell companies like this (ITM-Ceres etc...), because the world is changing and they probably don't want to be left behind like dinosaurs of the past (just a thought).....

Hi RF,

As I understand it if the pound rises against the Euro it results in UK goods costing Euro countries more, therefore German supplied goods are cheaper, although I doubt anyway that is anything to do with the last few days sp rise.

Me thinks it is all down to anticipation of Stade coming on line, with the resultant of contracts/mou's.

PS, I still have a few Drachma's which are just waiting to go back into circulation.

Regards Greek.

Perhaps the overall total cost is less due to the rising pound when turned into euros therefore it gets reflected in the sp......either way....sp looking good....

CEO Contract Renewal


AFC Energy (AIM: AFC), the industrial fuel cell power company, is delighted to announce that following a very successful initial period to his tenure, the Company has agreed new terms designed to incentivise Adam Bond in his role as Chief Executive Officer until at least 31 December 2016.

As part of this package, the Company has agreed to issue Adam with 1,000,000 Ordinary Shares of 0.1p each in the Company ("Ordinary Shares") at par value (the "Director Shares"). These Ordinary Shares will be issued in four equal tranches. The first tranche of 250,000 Ordinary Shares will be issued immediately. Application has been made to the London Stock Exchange for these Ordinary Shares to be admitted to trading at 8am on 23 July 2015 ("Admission"). Application to the London Stock Exchange for the subsequent tranches of shares to be admitted to trading will be made in due course. Following the issuance of the first tranche of the Director Shares, Adam will hold 2,250,000 Ordinary Shares in the Company totaling 0.78% of the Company's issued share capital as enlarged by the issuance of this tranche of shares (the "Enlarged Issued Share Capital"). The subsequent tranches, each of 250,000 Ordinary Shares, will become due on 31 December 2015, 30 June 2016 and 31 December 2016 respectively conditional upon Adam's continuing employment on those dates.

In addition, Adam has been granted a package of options over a total of 6,000,000 Ordinary Shares (the "Options"), conditional on certain commercial and value-related milestones designed to align his interests with those of shareholders. Following grant of the Options, Adam will hold options over 2.07% of the Enlarged Issued Share Capital. Details of the option package are outlined below:

more....

This is a hell of a good package for Mr Bond, but as long as he earns it I have no problem.

It's these massive deals/bonuses for failure that rile me.

As George Lazenby said in 'On her Majesty's Secrete Service', "This never happened to the other chap"

It's all looking very, very promising.....if the development in germany is sucessful.....the company could go global !.....100p will look like a snip !......if I was a fund manager or a big oil company : I would snap up 20 % or more of this rising star !....

Hoping for a push through the 60p barrier towards 70p this week ......

Good grief rf!!!!!!!!!!! You jinxed it!!!!!!!! ;o)

Hang on Harry : I'll do my voodoo act again......come on the sp......(a bit like Rigsby and Miss Jones with the firewood).....oooohhhh....come on...rise.....

Doing not too badly.....much more to come from this fab share....

AFC Signs First Commercial Power Purchase Agreement with Stadtwerke Stade for German Fuel Cell Generation Facility

Highlights
· Purchase power agreement (PPA) represents first commercial revenue for AFC
· Agreed terms until 31 July 2017 with option to extend for another 12 months
· AFC to potentially benefit from sale of power at peak power pricing

Although this was obviously expected, as the contract has been signed pre the system fully up and running, it shows confidence by both sides that thing are going well and that power will be flowing by month end.

AFC's KORE Fuel Cell System Achieves Landmark Operation in Stade, Germany


Highlights
· Successfully commissioned and commenced operation of first KORE fuel cell system in Stade, Germany
· Historic Milestone 9 achieved - Phase-1 POWER-UP programme
· AFC still on target to achieve first full commercial scale operability of KORE module (final Milestone 11) in late 2015

This bit is fantastic news.

On Friday, 31 July 2015, a peak output of 7.56kW from a single operational cartridges (one of 24), with this cartridge intentionally operating at less than full capacity as envisaged within the POWER-UP commissioning programme. Importantly, when the original POWER-UP milestones were devised and announced to the market on 8 December 2014, the initial output target of the KORE by the end of July 2015 was set at 7.5kW to 15kW, however this was based on a forecast of two cartridges. To achieve this target with just one cartridge is great news for the technology.

So with a single cartridge achieving 7.56kw, that equals 15.12kw from 2 cartridges which is at the top of expectations.

So targets are not just being achieved, they are being met at the top envisaged.

Super share well done.

A bit disappointing. Was hoping for a better market reaction. Maybe just the time of year!

Hi Harrycat,

I think that most of this was already priced in although no doubt many like myself never count our chickens ect, so that's probably why the small increase in sp.

No doubt orders will now start to flow in with end of year showing that flow turning into a flood, with the proviso of course that things proceed as planed.

Mind you with 9 of the 11 targets reached, I can't see any reason why they won't.

Still don't count those chickens quite yet.

Regards Greek.