Business
Interim Results
Interim Results.
About this update from H-power Plc
[{"type":"text","content":"\n\n \nIS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER ARTICLE 7 OF THE EU REGULATION 596/2014 AS IT FORMS PART OF THE UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n23 July 2024\n \nAFC Energy PLC\n(\"AFC Energy\" or the \"Company\")\n \nInterim Results for the half year to 30 April 2024\n \nAFC Energy plc (AIM: AFC), a leading provider of hydrogen power generation solutions and technologies, is pleased to announce its interim results for the half year ended 30 April 2024 (H1 FY24).\n \nCorporate Highlights\n· Joint venture signed with Speedy Hire and Speedy Hydrogen Solutions (SHS) created\n· First order from SHS, for £2.0m, and first sales, of £0.4m, with more to follow in H2 FY24\n· £26.2m order book, after adjusting for the £0.4m delivered in H1 FY24\n· Delivery of world's largest modular, scalable ammonia cracker facility\n \nPost-period end\n· £15.8m (gross) raised via placing and subscription, including by AFC Energy directors\n· Strategic Supply Agreement with Illuming Power for scale production of fuel cell plates and stacks\n· First operation of 200kW S+ Series H-Power generator\n· Strategic Supply Agreement with Zollner for scale production of fuel cell modules\n \nOutlook\n· Continued revenue growth in H2 FY24 through further sales to SHS \n· Delivery of 45kVA generator plus battery solution to ACCIONA\n· First sales orders from TAMGO for the Saudi Arabian market\n· Delivery of first partners for ammonia cracker\n \nBoard change\nAs announced earlier today, Adam Bond, CEO, advised the Board on 22 July 2024 of his decision to step down from his executive role as CEO. To facilitate a smooth transition, Gary Bullard, non-executive Chairman, will become executive Chairman until a successor CEO is in place.\n \n \nKey Fi...