AFC Energy cuts fuel cell power costs by nearly one third
UK-based industrial fuel cell power company AFC Energy said on Monday that both it and its partner Industrie De Nora had undertaken new initiatives aimed at significantly reducing the cost associated with hydrogen power.
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Chief executive Adam Bond said there was "clarity over the roadmap to a power generation cost from the AFC Energy fuel cell stack of less than $0.10/kWh."
"This would be an incredible outcome not only for AFC Energy, but for the fuel cell industry and the wider hydrogen economy, and will put our technology on a comparable footing with other low-carbon, baseload power generation technologies," he said.
The newly designed electrodes would be fully integrated into AFC's fuel cell stack without solid nickel substrate frames and had shown "excellent results from industrial-scale sized electrodes" at the same time as reducing stack costs as much as 30%.
AFC said, "We have also been undertaking initial study work to assess how we can provide clean backup power generation via fuel cell utilisation. Normally this type of backup power is met through the application of diesel generators - however, the AFC Energy option study has addressed this issue by looking at a modularised 80-160 kW solution with the hydrogen fuel source being derived from cracked ammonia. This work is being finalised and is targeting a market segment that, globally, is worth more than US$20bn."
As of 1100 BST, AFC shares had moved ahead 11.63% to 12.00p.