AFC Energy achieves 1000 hour electrode trial
November 6th, 2006
AFC Energy, the developer of next generation alkaline fuel cells, announces that it has successfully completed a 1,000 hour trial of its ultra low cost electrode.
The trial, which was completed significantly ahead of schedule, was operated at transient power loads. All electrodes are thus far operating comfortably within acceptable degradation limits.
As with previous trials, this milestone has been completed using AFC Energy’s low cost materials for the catalyst, electrodes and base-substrates making it one of the most commercially viable fuel cells available.
Howard White, Chairman, AFC Energy said; “Meeting critical landmarks for any technology is always exciting, but to continue to meet them ahead of schedule shows the considerable speed of progress we are making. This is testament to the professionalism and the commercial philosophy of the whole team at AFC Energy.
“With alkaline fuel cells being a proven energy technology, AFC Energy is in the strong position of being able to focus on performance improvements and the cost of engineering an operationally low temperature fuel cell device.
“With mainly mechanical challenges to overcome we are increasingly confident about surpassing our milestones and it is our belief that we will be able to deliver a functional system at a price that will permit an overwhelming business case for mass adoption.
“The result of this 1,000 hour trial provides further validation of our decision to pursue the development of next generation alkaline fuel cells and we continue to look at opportunities to link up with major multinational companies with the intention of entering into application specific partnerships.”
AFC Energy recently completed a private placing to raise £1.4 million to part finance the acquisition of the alkaline fuel cell technology and to accelerate its development. Prior to this approximately £6 million was spent on developing the technology. The company intends to seek an IPO in early 2007.