Business
2016 Strategic Milestones
2016 Strategic Milestones.
About this update from H-power Plc
[{"type":"text","content":"\n \nRNS Number : 5360Q AFC Energy Plc 01 March 2016 \n\n \n1 March 2016\n \nAFC Energy PLC\n \n(\"AFC Energy\" or the \"Company\")\n \n \nAFC Energy 2016 Strategic Milestones \n \n \nAFC Energy (AIM: AFC), the industrial fuel cell power company, is pleased to announce its eight 2016 strategic milestones and outcomes. The milestones for 2016 seek to build on the accelerated technology development achieved in 2015 and provide clarity over the outcomes sought across the Company during the remainder of 2016. \n \nFurther commentary around each of the strategic milestones is provided in an appendix to this announcement. \n \nFuel Cell Stack and Balance of Plant (\"BoP\")\n \nMilestone 1 Develop a second generation (\"Gen 2\") fuel cell stack and BoP during the second half of 2016\n \nMilestone 2 Operate the Generation 2 fuel cell stack and BoP over an extended test period (>1 month) before the end of 2016\n \nMilestone 3 Confirm the availability and longevity of the fuel cell system to meet minimum industry standards required for commercial deployment as agreed with project partners \n \n \nProduct Development\n \nMilestone 4 Conclude basic design and engineering on a single cartridge 10kW system capable of deployment in 2016\n \nMilestone 5 Conclude basic design and engineering on a 1MW capacity fuel cell system capable of deployment in 2017 \n \n \nCommercial Opportunities\n \nMilestone 6 Commence scoping studies for at least three international fuel cell projects with a focus on the Middle East and Asia\n \nMilestone 7 Secure contracts for at least two international fuel cell projects for delivery in 2017 \n \nMilestone 8 Secure value added strategic partnerships with recognised industrial & institutional groups \n \n \nAdam Bond, AFC's Chief Executive Officer, said: \"We made significant progress across the business in 2015 in deliv...