Business
Commercial Update
Commercial Update.
About this update from H-power Plc
[{"type":"text","content":"\n \nRNS Number : 4077H AFC Energy Plc 15 November 2018 \n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service (\"RIS\"), this inside information is now considered to be in the public domain.\n \n \n15 November 2018 \n \nAFC Energy PLC\n \n(\"AFC Energy\" or the \"Company\")\n \n \nCommercial Update \n \nAFC Energy (AIM: AFC), a leading alkaline fuel cell power company, is pleased to provide a commercial update for the period ended 31 October 2018. \nAFC Energy has now successfully concluded the majority of engineering design to bring to market its first commercial fuel cell system. The system will have a low cost per kWh compared to alternative generating systems, partially as a result of its ability to use lower quality and less expensive hydrogen sources. \nIn building its Go-to-Market strategy, AFC Energy has been working with a leading clean-tech specialist consultancy to leverage existing commercial activities and establish alternative distribution channels to accelerate future growth. Strong emphasis is being placed by the Company on preparation for commercial deployment and the strengthening of its supply chain in response to the Southern Oil order in Australia and growing interest for fuel cell systems from potential customers in Japan (and other interest from the APAC region). \nThe Company has taken major steps over the last six months towards the appointment of key manufacturing partners across the key areas of the supply chain. Main highlights include:\n· Electrode manufacture: recent test data has indicated that the partnership with electrode manufacturer Industrie De Nora will lead to significantly lower build costs for the fuel cell while increasing the longevity of the electrodes. The composition of electrodes for commercial deployment is now being finalised in anticipation of first customer shipment to Southern Oil.\n \n· Flow plate and stack manufacture: the selection of a manufacturing partner for the production of the fuel cell flow plates...