http://www.afcenergy.com/

Dawnay, Day Corporate Broking Research Note

Aim Admission Document

GM cheers,one can only try to imagine what would be the result of an incident in the hydrogen rich enviroment?

On a more positive note,approval of and delivery of thenew bigger Beta system
would be a massive boost for the company and it's tech.

Finally some good news on a day that is heading for generally bad.
Will be interesting to see what the sp opens at and more importantly its closing price.
The big question is will investors see his as a time to buy, or keep selling due to the general market turmoil.
I can't see this being anything but a buying opportunity, although many may watch and wait just that bit longer, remembering that most expected the HAZOP to be received.

GM yes excellent news and very temptung at this SP,due to present market sentimen i've decided to hold onto cash at present,but good luck.

Hi Niceonecyril,

Same here re the cash, although if the sp stays the same or drops might just add to my holdings. The 10% plus spread will have to narrow though.
Amazing how the FTSE100 has moved this morning, from well down to up. Some will have made a killing.

Although i think cercunstances are different this time,a banking manager friend makes the point,that markets are run up and down to suit some.At least twice a year a crisis happens only to disappear once they've filled rheir boots?

It was the same following the last agreement to the Greek bailout which was supposed to steady the markets, but mot sensible people saw that it was just delaying the inevitable. same will occur this time after the agreement to buy Spanish and Portuguese bonds.
Its all papering over the cracks.

As to AFC, looks like I missed a buying opportunity, as the shares are now up. So still watching/waiting.

That makes a refreshing change.

Must be a first....Nice to see an RNS for Arsenal that refers to AFC Energy instead of the other way round.

Fear can knock the best shares.

This does in a roundabout way refer to AFC.

This morning one of the shares in my portfolio received awaited, expected news that resulted in an sp increase of around 39%.
This share as of late has been gradually reducing even though todays news was expected.
Due to the catastrophic financial and market crash, this share has been taking knocks following on from almost every achieved milestone. In fact the sp of this share was untill today lower than before they had achieved any of the last dozen or so good news bulletins.

Sounds like AFC doesn't it!

Even with the latest good news RNS, it has still not reached anywhere near to it's highs.
This company is well run and also has sufficient funding to see it through to profitability.

Sounds even more like AFC!

Many holders of this share, allowed the panic of the markets to influence them to sell, usually at a very low value price.

Sounds identical to AFC!

As this company's future, although in an entirely different field to AFC, is almost assured, I can see nothing but parallels with AFC.

So when the markets settle down to at last a smidgen of normality, and the awaited full field test result and first orders come in, AFC will be back to at 'least' the 75p mark where it belongs.

Like the example of my other share, it is nothing to do with the company that has resulted in the sp downgrade of AFC, but purely the general market sentiment, and like that other share it's day will come, and that day is not too far away.

So keep your nerve, and hold on in there!

Greek.

Holding so tightly it hurts! :o)

AFC Energy plc
Tim Yeo, Chairman

Ian Balchin, Deputy Chairman
David Marson, Finance Director

+44 (0)1483 276726

Allenby Capital Limited
Brian Stockbridge
Dan Robinson


+44 (0)20 3328 5656



Threadneedle Communications

John Coles

Fiona Conroy

+44 (0)20 7653 9850

About AFC Energy

AFC Energy is a world leading developer of low-cost alkaline fuel cell systems that use hydrogen to produce clean electricity, heat and water. AFC Energy's technology is focused on large-scale industrial applications and the objective of producing the lowest possible unit cost electricity. Please visit our website at www.afcenergy.com.



High efficiency levels: using readily available hydrogen and air as the source of oxygen, electrical efficiency is up to 60%, which compares to around 30% for conventional electricity generating technology.

Low cost production: fabricating with low cost materials combined with industrially proven production processes.

Low temperature and pressure: operating at less than 100 degrees Celsius enables us to use polymer mouldings for many parts.

Hydrogen sealing: operating at low pressure, hydrogen is readily sealed within the system.

Thermal management: a circulating liquid electrolyte simplifies the thermal management of the system.

Balance of plant: the majority of components are off-the-shelf and mass manufactured for other uses enabling us to benefit from these economies of scale.

Value engineered for assembly: the component count has significantly reduced and commercial units are designed for easy assembly.

AFC Energy has significantly reduced the cost of its technology to make its fuel cell system a commercially compelling proposition.

AFC and The Fuel Cell Stakes.

I often use a racing analogy to compare many things in life.

Several years ago I looked at AFC like I would a horse in the parade ring. This horse was with others all looking to attract attention, but it was difficult to pick out a winner, but AFC had a good jokey and stable team. It looked fairly good and worth gambling a few quid.
As it left the stalls it appeared to be quite slow approaching the first fence, it had no form to go on, this being its maiden race, but confidence increased as the first few fences were cleared.
As it approached the 5th fence it appeared to stumble a bit (the slight delay in shipping date to Germany) but after clipping the top it started to increase speed.
Several fences on, it was looking very good as it cleared each the next few fences with a bit to spare.
Although a long shot, it was now out in front, leaving the others in its wake.
The hesitant crowd was now starting to believe, some had put money on it as it left the parade ring and some as it went down to the start. But this race had strange rules, where you could bet money and even take your bet off during the race which some have done, but as it approached the last fence the opportunity to make BIG money was slipping away. With no other horse coming up on the rails the bookies were reluctant to take bets, although you could sell your betting slip easily.

AFC was now over the last hurdle and was only a few strides from the finishing post.
Yes, it could still stumble, but no one in their right mind would bet against it not being a clear winner.

Sorry for the rambling, I just thought the analogy fitted todays announcement.

AFC will be the winner in the 'Fuel Cell Stake.

Do you have your money on yet!

New CEO, great news.
If you wanted someone to fit into AFC's future, looking at Ian Williamson's CV you would be hard pushed to find what looks like a better ideal candidate.
I doubt that with his experience he would have considered coming to AFC unless he was 100% confident that they are heading for success.
The 1 Million share option would obviously be a nice little earner, but I have no problem with that.
I would like to see the option conditions, but no doubt they will have to be set at a position where all end up (including the shareholders) in benefit.
Not as good a news as we could have got, IE contracts, proven field test, but still very satisfying.
A company without a CEO tends to look a bit like a ship without a rudder.

Not totally relevant, but - Is hydrogen the future of motoring?

Probably, that is until solar energy is sufficiently harnessed.
I did read that the hydrogen car of the future is 10 to 20 years away from taking over from oil based fuels.
But with our modern world, who knows what is round the corner.

If you look at technology, there are many things that are now practical and in use, that were Star Trek and Jame Bond imagination from 20 to 30 years ago. So bearing that in mind, how far are we from warp speed, Mr Spock.

Warp 1 = 299792 kilometers per second.1 times C (the speed of light),
Warp 2 = 2997925 kilometers per second.10 times C (the speed of light),
Warp 3 = 11691906 kilometers per second.39 times C (the speed of light),
Warp 4 = 30578831 kilometers per second.102 times C (the speed of light).
Warp 5 = 64155586 kilometers per second.214 times C (the speed of light),
Warp 6 = 117518644 kilometers per second.392 times C (the speed of light),
Warp 7 = 196663852 kilometers per second.656 times C (the speed of light),
Warp 8 = 306987477 kilometers per second.1024 times C (the speed of light).
Warp 9 = 454485366 kilometers per second.1516 times C (the speed of light).

Hope that helps :-)

RNS Number : 7029O

AFC Energy Plc

22 September 2011

22 September 2011

AFC Energy PLC

("AFC Energy" or the "Company")

Appointment of Non-Executive Director

AFC Energy (AIM: AFC), a developer of alkaline fuel cells, is pleased to announce the appointment of David Smith as a non-executive director of the Company. David joins the board on 26 September 2011 and will represent Linc Energy, a significant shareholder in AFC Energy.

David is Chief Operating Officer at Linc Energy with responsibilities that extend across the strategic areas of its group. He is a representative Linc Energy director at the Yerostigaz Underground Coal Gasification (UCG) facility in Uzbekistan, which has been operational since 1961. He is also an alternate director for other companies in which Linc Energy has an interest.

Adam Bond, General Manager - European Operations at Linc Energy, will act as Linc Energy's alternate director when required. Adam is responsible for the development and delivery of Linc Energy's European expansion in the United Kingdom, mainland Europe and Russia.

Tim Yeo, Chairman of AFC Energy plc, commented: "Linc Energy is an important commercial partner of AFC Energy as well as a major shareholder. I am delighted to welcome David to our board representing Linc Energy and believe his experience and knowledge will bring a better understanding of clean coal opportunities and enhance commercialisation at both AFC Energy and Linc Energy."

David Smith commented: "Linc Energy has been working with AFC Energy for two years and our shareholding in the Company, which we increased in July 2011, is a clear indication of our support and belief in the technology AFC Energy is developing. I am delighted to be joining the board at such an exciting time."

Good news, shows how AFC are building an even better, stronger team.
After the last few weeks/months of waiting ever impatiently (thats my problem, not AFC's) it is moves like this that sets the pulse back to racing.
Linc and AFC obviously have 100% confidence in each other.
Thats more than good enough for me!

Skinny,

Perhaps we are nearer Warp factor 1 than we thought!

Yep sounds good Scottie ! :-)

October 2011
Embargoed until 07:00

AFC Energy PLC
("AFC Energy" or "the Company")

Commissioning of Beta Systems at AkzoNobel

AFC Energy (AIM: AFC), a leading developer of alkaline fuel cells, is pleased to inform investors that it has completed the commissioning of two commercial-scale fuel cell systems (the "Beta System") without electrodes at AkzoNobel's chlor-alkali plant in Bitterfeld, Germany. This follows the completion of the HAZOP study that the Company announced on 8 August 2011 and the commissioning of the first Beta System in the UK that the Company announced on 11 August 2011. Over the next months these Beta Systems will be equipped with electrodes and used for trials using industrially produced hydrogen.
Ian Balchin, AFC Energy's Executive Deputy Chairman, said: "The Company will now be able to begin demonstrating electricity generation in the field from industrially produced hydrogen. We are grateful for the support and expertise we have received from AkzoNobel, and look forward to continuing our close working relationship with them to advance System performance. Electricity produced from the Beta Systems will be used by AkzoNobel in its own operations offering the prospect of reduced energy costs and lower carbon emissions by avoiding carbon- based fuels."

Ends

For further information, please contact:

AFC Energy plc
Tim Yeo, Chairman
Ian Balchin, Deputy Chairman
David Marson, Finance Director
+44 (0)1483 276726



Allenby Capital Limited
Brian Stockbridge
Dan Robinson
+44 (0)20 3328 5656


Threadneedle Communications
John Coles
Fiona Conroy
+44 (0)20 7653 9850


About AFC Energy
AFC Energy is a leading developer of low-cost alkaline fuel cells. AFC Energy's technology is focused on large scale industrial applications and the objective of producing the lowest possible unit cost electricity. Please visit our website afcenergy.com


About AkzoNobel
AkzoNobel is the largest global paints and coatings company and a major producer of specialty chemicals. We supply industries and consumers worldwide with innovative products and are passionate about developing sustainable answers for our customers. Our portfolio includes well known brands such as Dulux, Sikkens, International and Eka. Headquartered in Amsterdam, the Netherlands, we are a Global Fortune 500 company and are consistently ranked as one of the leaders in the area of sustainability. With operations in more than 80 countries, our 55,000 people around the world are committed to excellence and delivering Tomorrow's Answers Today.

Industrial Chemicals
AkzoNobel Industrial Chemicals produces and markets salt and energy, chlor-alkali products and derivatives like monochloroacetic acid (MCA) and metal salts. It is Europe's largest producer of vacuum salt and a leading supplier of chlorine, caustic lye, hydrochloric acid and MCA used in the chemical, detergent, construction, food, pulp and paper and plastic industries. Its products are essential in daily life and used in the manufacture of among others vehicles, glass, performance plastics, pharmaceuticals and textiles, and in disinfectants for swimming pools.

Employing approximately 1,700 people, Industrial Chemicals has production sites at Rotterdam, Hengelo and Delfzijl in the Netherlands, Ibbenben, Frankfurt and Bitterfeld in Germany, Mariager in Denmark, LeMoyne in the USA, and Taixing in China. The business is headquartered in Amersfoort

Whilst most on here feel that at todays price, AFC is 'very under valued', that is purely based on what we expect and hope for the future.
We can bandy prices of 1 to 10 around all day, but how many actually feel that even a price of 33P is worth a punt now.
Not many by the look of things, because even at an offer price of 33p, volume is very low.
It always comes down to 'what people are prepared to pay.

Personally, with the present world financial situation, and AFC's position of being at least 3 months away from any defining price improving news, I feel the sp is just about right, IE very few people are prepared to pay me 31p for any shares I hold.
If buyer of these shares were queing up at the door, then we would know about it, but there not.

As to the future, I consider the value per share in relation to prospects ridiculously low, but until the markets do, we will be stuck at or around the present share price.

I have seen many AIM companies being towted as 'can't' fail and seen most of them go under.
I am not saying AFC are such a company, as those who have seen my previous posts will know, I feel that they will be one of the very few AIM companies that shine through the dross.

The point of my post is that we can't let our future beliefs blind us to the true value of a share at its present price, IE what it will sell for.

Greek.