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AFC Energy annual losses widen on increased investment spend
StockMarketWire.com
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Hydrogen power company AFC Energy reported wider annual losses as the company ramped up investments across its product range.
For the year ended 31 October 2020, pre-tax losses widened to £4.8 million from £3.6 million, the cash balance jumped to £31.6 million from £1.6 million.
Looking ahead, the company said its planned deployment of first integrated electric vehicle charger system alongside ABB was expected in second half of 2021.
'A growing order book, new strategic partnerships, a stronger cash position at year-end and a strong global political will, evidenced by record levels of investment in the sector, provides the basis for our future success,' the company said.
At 9:11am: (LON:AFC) AFC Energy PLC share price was 0p at 19.6p
Story provided by StockMarketWire.com
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