AFC Energy reduces fuel cell build costs significantly
AFC Energy reduces fuel cell build costs significantly AFC Energy PLC (AIM:AFC, OTC:AFGYF) told investors it has reduced the build cost of its 30kW hydrogen fuel cell generator by around […] The post AFC Energy reduces fuel cell build costs significantly appeared first on Hydrogen Central.
AFC Energy reduces fuel cell build costs significantly
AFC Energy PLC (AIM:AFC, OTC:AFGYF) told investors it has reduced the build cost of its 30kW hydrogen fuel cell generator by around 85%.
The cost reduction was achieved through a value engineering exercise and by adopting low-cost stack technology.
This will support the adoption of AFC’s fuel cell technology in markets currently reliant on diesel, aiming to achieve cost parity, it added.
Now, AFC Energy has signed a supply agreement for future fuel cell systems to support demand. It is also working on plans for volume manufacturing.
It intends to enter a global strategic manufacturing partnership with Volex Plc to help reduce costs further through economies of scale.
Chief executive John Wilson highlighted that AFC’s strategy has been to deliver commercial viability of the hydrogen economy, without a reliance on Government subsidies.
We [previously] announced an aggressive plan to target a significant reduction of the cost of our 30kW hydrogen fuel cell generators to drive market adoption,
“I’m delighted that this ambition has been fulfilled, with an expected c.85% reduction, and we target mid-2026 for delivery of our first low cost generators.We are grateful for the support of Volex Plc to date and look forward to developing our strategic partnership.”
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AFC Energy reduces fuel cell build costs significantly, source
The post AFC Energy reduces fuel cell build costs significantly appeared first on Hydrogen Central.
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