|
AFC Energy PLC - Cranleigh, England-based provider of hydrogen power-generation technologies - After the London market close on Wednesday, AFC launches an equity raise worth up to £25 million, as its new leadership focuses on commercialisation of its fuel cell generators and its Hy-5 containerised portable ammonia crackers. The share offer is priced at 10 pence each and will consist of a placing with institutional investors run by Peel Hunt, Zeus, RBC Capital Markets as brokers, a direct subscription of directors, and a retail offer via the RetailBook platform. The share offer comes as AFC says its pretax loss widens to £11.6 million in the six months that ended April 30 from £8.3 million a year before. Revenue from customer contracts remains insubstantial at £17,000 - all from the hire of a generator - down from £408,000 a year before. ‘We believe AFC Energy is positioned to be among the first to deliver a commercially viable, zero-emission alternative to diesel generators at scale,’ comments Chief Executive John Wilson. ‘In conjunction with our power generators, we are developing our ammonia cracker which will support the adoption of hydrogen across the economy by providing a cost-effective solution to the transport and storage of hydrogen.’ The company is focused projects ‘capable of delivering a pathway to cashflow positivity in the medium term’, Wilson says. Current stock price: 13.74 pence, closed down 8.0% in London on Wednesday 12-month change: down 22% Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
