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Shares of hydrogen company AFC Energy (LON: AFC) are rising on Thursday after launching its dedicated Anion Exchange Membrane (AEM) fuel cell test facility at its Surrey headquarters in the UK.
According to AFC, the company's high energy-dense fuel cell technology HydroX-Cell has been strengthened by the launch of an AEM fuel cell testing and diagnostic facility. The design of the AEM facility was completed in the second half of 2020.
The “S” Series AEM hydrogen fuel cell, once complete, will create the option for heavy motive applications to deploy alkaline chemistry fuel cells in marine, rail, and other heavy motive applications.
The company believes the facility will enhance the timely feedback in performance from the AlkaMem anion exchange membrane in fuel cell applications, further improving its development for use elsewhere.
The new facility will also support AFC's work in integrating an in-house developed anionic conducting ionomer within the AEM electrode.
Pilot fabrication processes for the production of Membrane Electrode Assemblies (MEA) are now fully established within AFC Energy, and the fabrication method enables consistent MEA production.
AFC said the advancements support the “S” Series Fuel Cell technology remaining on target for initial release in late 2022.
“We continue to believe this platform will compete head on with incumbent high energy dense fuel cells in the market today such as PEM technologies both on cost and performance, but with all the benefits of our proprietary alkaline chemistry,” said Adam Bond, AFC Energy’s CEO.
Shares of AFC Energy are currently trading 3.39% higher at 57.9p following the announcement. Earlier in the session, they climbed to highs of 61.6p.
Should you invest in AFC Energy shares? AFC Energy shares are traded on the AIM market of the London stock exchange (the alternative investment market) which is the sub market specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are AFC Energy shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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