Business
Year End Operational Update
Year End Operational Update.
About this update from H-power Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0121E\n AFC Energy Plc\n 03 November 2020\n \n \n \n \n The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain. \n \n \n 3 November 2020\n \n \n AFC Energy PLC\n \n \n (\"AFC Energy\" or the \"Company\")\n \n \n Year End Operational Statement - October 2020\n \n \n AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, is pleased to provide its Year End Operating Statement for the year ended 31 October 2020. \n \n \n Highlights\n \n \n · \n First commercial agreements signed with >£1m in revenue contracted.\n \n \n · \n Commercial pipeline at different stages of development, growing across initial key target markets.\n \n \n · \n Successfully completed oversubscribed fundraise of £31.6m before expenses (the \"Fundraise\").\n \n \n · \n Launch of Extreme E's all electric off-road 2021 racing series in October 2020 featuring AFC Energy's H-PowerTM system as primary power supply for the rapid charging of race vehicles. \n \n \n · \n Key milestones being met for on-schedule delivery of first commercial system to Extreme E in December 2020. \n \n \n · \n Working with world leading OEMs and partners in advancement of the H-Power system adoption within integrated off-grid power and ultra-rapid EV charging solutions. \n \n \n · \n Sale of bespoke 100kW H-Power fuel cell system to Forschungszentrum Jülich (\"Jülich\") at its Living Lab Energy Campus (\"LLEC\") showcase in Germany (within contracted revenue).\n \n \n · \n Announced in April 2020 collaboration with global constructor, ACCIONA, for 160kW H-PowerTM field trials in Spain in 2021. \n \n \n · \n First delivery of AlkaMem® membrane samples to industrial and research partners under Material Transfer Agreements in non-fuel cell applications. \n \n \n · \n AlkaMem® results to date continue to confirm compatibility with market leading alkaline electrolyser separators across several key performance metrics - potentially creating access to the fast-growing green hydrogen electrolyser component market. \n \n \n · \n Presentation of AlkaMem® anion exchange membrane technology to industry at the Fraun...