AFC Energy Plc (LSE: AFC) is an AIM listed company whose principal activity is to develop alkaline hydrogen fuel cell technologies capable of providing clean energy solutions including zero-emission electricity.
AFC Energy was established in January 2006 and was admitted to AIM in April 2007 when it raised £3 million in gross proceeds (£2.4 million net) by issuing c. 13.2 million new ordinary shares at a share price of 23 pence each. The implied market value of the company at that date was £20.2 million.
In April 2024, the company had 747 million shares in issue and the AFC share price was 17.5 pence, giving a market cap of c. £131 million.
Overview of the company’s assets
AFC Energy is developing a proprietary technology platform that is capable of delivering clean energy for use in electric vehicle charging and distributed power generation.
The technology is believed to have serious commercial potential and is designed to be modular, scalable and easily transportable. It is highly efficient and is capable of being integrated with energy storage for fast power dispatch. It is also grid independent and can be sited in an outdoor or enclosed environment or be containerised.
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