18 Mar 2008
AFC announces 2007 preliminary results
AFC Energy has announced its preliminary first-year results to October 2007.
The low-cost fuel cell developer announced proceeds of £3 million before expenses and successful admission to the AIM exchange.
AFC says it has been experiencing increasing interest from companies keen to use its hydrogen-powered fuel cell technology as a source of energy.
"As AFC Energy moves into a production phase ahead of delivery of our first fuel cells to Akzo Nobel, we continue to make technological improvements to drive down the cost of our fuel cell components," Gerard Sauer, chief executive of AFC Energy, comments.
Company chairman Tim Yeo says AFC will focus on supplying fuel cells to companies that produce hydrogen gas as a byproduct - which instead of being released into the atmosphere can be used to provide the company with power.
Founded in 2006, the company currently has five patent applications, with three in development.
www.afcenergy.com
© Adfero Ltd
The low-cost fuel cell developer announced proceeds of £3 million before expenses and successful admission to the AIM exchange.
AFC says it has been experiencing increasing interest from companies keen to use its hydrogen-powered fuel cell technology as a source of energy.
"As AFC Energy moves into a production phase ahead of delivery of our first fuel cells to Akzo Nobel, we continue to make technological improvements to drive down the cost of our fuel cell components," Gerard Sauer, chief executive of AFC Energy, comments.
Company chairman Tim Yeo says AFC will focus on supplying fuel cells to companies that produce hydrogen gas as a byproduct - which instead of being released into the atmosphere can be used to provide the company with power.
Founded in 2006, the company currently has five patent applications, with three in development.
www.afcenergy.com
© Adfero LtdSource: Adfero