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| 06-11-09 | RNS |
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RNS Number : 1000C AFC Energy Plc 06 November 2009 THIS REPLACES THE ANNOUNCEMENT RELEASED AT 07.06 THIS MORNING (RNS NUMBER 0944C). THE TEXT HAS BEEN AMENDED. AFC Energy PLC ('AFC Energy' or the 'Company') Board Appointment AFC Energy PLC, the developer of low cost alkaline fuel cells, is pleased to announce that Ian Balchin has been appointed to the Board with immediate effect and will serve the Company as its Chief Executive Officer. Ian has been working for the Company, as Managing Director since October 2008 on a part time basis. Ian Henry Balchin, aged 45, has an extensive track record of commercialising technologies. He was CEO of Stanelco for 5 years and has previously held senior management positions in AEA Technology including director of New Ventures. Ian holds warrants over 1,500,000 shares. Current directorships: MetaLevel Limited, Polyfect Solutions Limited. Directorships during the last five years, Stanelco plc, Stanelco RF Technologies Limited, InGel Technologies Limited, Zircotec Limited, InGel Industrial Limited, Starpol Edible Films Limited, Starpol Packaging Systems Limited, Biotec Holdings GmbH There are no further disclosures required in accordance with paragraph (g) of Schedule 2 of the AIM Rules for Companies. Tim Yeo, Chairman of AFC Energy commented: "We are delighted that Ian has recognised the potential of AFC Energy and is now able to dedicate more time to maximising the opportunity for the Company. Ian's appointment confirms the strong AFC Energy team that is completely focused on producing a commercially viable alkali fuel cell system and producing a reliable source of clean energy." Ian Balchin, AFC Energy's Managing Director, added: "Over the last 12 months I have witnessed at firsthand the huge opportunity that AFC Energy has. The Company has also made significant technical progress over this period and this has been highlighted in the recently completed independent review carried out by the Centre for Process Innovation. I am delighted to accept this appointment and look forward to continuing progress." For further information please visit www.afcenergy.com or contact:
Tim Yeo, Chairman Ian Balchin, Managing Director
Shane Gallwey
Chelsea Hayes This information is provided by RNS The company news service from the London Stock Exchange END
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| 06-11-09 | AFX UK Focus |
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LONDON, Nov 6 (Reuters) - AFC Energy Plc:
serve as CEO ((London Equities Newsroom; +44 20 7542 7717)) (For more news, please click here)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 06-11-09 | RNS |
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RNS Number : 0944C AFC Energy Plc 06 November 2009 AFC Energy PLC ('AFC Energy' or the 'Company') Board Appointment AFC Energy PLC, the developer of low cost alkaline fuel cells, is pleased to announce that Ian Balchin, has been appointed to the Board with immediate effect and will serve the Company as its Chief Executive Officer . Ian has been working for the Company, as Managing Director since October 2008 on a part time basis. Ian Henry Balchin, aged 45, has an extensive track record of commercialising technologies. He was CEO of Stanelco for 5 years and has previously held senior management positions in AEA Technology including director of New Ventures. Ian holds warrants over 1,500,000 shares. Current directorships: MetaLevel Limited, Polyfect Solutions Limited Directorships during the last five years, Stanelco plc, Stanelco RF Technologies Limited, InGel Technologies Limited, Zircotec Limited, Ingel Industrial Limited, Starpol Edible Films Limited, Starpol Packaging Systems Limited. There are no further disclosures required in accordance with paragraph (g) of Schedule 2 of the AIM Rules for Companies. Tim Yeo, Chairman of AFC Energy commented "We are delighted that Ian has recognised the potential of AFC Energy and is now able to dedicate more time to maximising the opportunity for the Company. Ian's appointment confirms the strong AFC Energy team that is completely focused on producing a commercially viable alkali fuel cell system and producing a reliable source of renewable energy." Ian Balchin, AFC Energy's Managing Director, added: "Having worked with AFC Energy for 12 months, I have been able to see firsthand the huge opportunity that AFC Energy has. The company has made significant progress in its technical development of its low cost fuel cell system and Over the last 12 months I have witnessed at firsthand the huge opportunity that AFC Energy has. The Company has also made significant technical progress over this period and this has been highlighted in the recently completed independent review carried out by the Centre for Process Innovation. I am delighted to accept this appointment and look forward to continuing progress. For further information please visit www.afcenergy.com or contact:
Tim Yeo, Chairman Ian Balchin, Managing Director
Shane Gallwey
Chelsea Hayes This information is provided by RNS The company news service from the London Stock Exchange END
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| 06-11-09 | RNS |
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RNS Number : 0943C AFC Energy Plc 06 November 2009
AFC Energy plc ("AFC Energy" or the "Company") Appointment of Joint Broker AFC Energy plc, the developer of low cost alkaline fuel cells, is pleased to announce the appointment of Allenby Capital Limited as joint broker to the Company with immediate effect. Astaire Securities remains the Company's nominated adviser and broker to the Company. Ian Balchin, Managing Director, commented: "We are delighted to be working with the team at Allenby Capital whom we appointed as Joint Broker in order to benefit from their track record and expertise in the cleantech sector with a particular focus on Europe and the Middle East." Imran Ahmad, Chief Executive Officer at Allenby Capital, commented: "We have been following AFC Energy for some time and have been impressed with the progress that the Company has made over the last year. We are delighted to have been appointed as joint broker." For further information please contact:
Tim Yeo, Chairman Ian Balchin, Managing Director
Shane Gallwey
Imran Ahmad
Chelsea Hayes This information is provided by RNS The company news service from the London Stock Exchange END
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| 05-11-09 | RNS |
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RNS Number : 9957B AFC Energy Plc 05 November 2009
AFC Energy PLC ('AFC Energy' or the 'Company') Positive external review of AFC Energy's Fuel Cell system AFC Energy PLC, the developer of low cost alkaline fuel cells, is pleased to announce that it has received a very positive updated review of its fuel cell system from Dr Jon Helliwell, Project Manager, Fuel Cell Applications at the Centre for Process Innovation ("CPI"). AFC Energy provided him with complete, unrestricted access to staff and technology to assess AFC Energy's technology. The CPI was previously commissioned to review AFC Energy's technology by Waste2Tricity in November 2008. Following the previous report the CPI has undertaken a second comprehensive review of AFC's Fuel Cell system including the electrodes, the catalyst systems, the current state of technological development, material science and the forward development programme. The main conclusions of the review were:
Dr Jon Helliwell, Project Manager, Fuel Cell Applications, CPI added: "It is clear that all technical activities were focused on the delivery of the company's principal objective of positioning itself as a developer of alkaline fuel cell systems at a significantly lower cost than any other fuel cell system and to do it at a commercially acceptable price point. The level of focus achieved means that AFC has moved to a position of being an established company determined to deliver its principal objective and strategy. It has clearly been a very good year for the company" Ian Balchin, AFC Energy's Managing Director, added: "The company has made significant progress in its technical development of its low cost fuel cell system in the last year and it is a fantastic achievement to see this reflected in the CPI's latest review." For further information visit www.afcenergy.com or contact:
Tim Yeo, Chairman
Ian Balchin, Managing Director
Shane Gallwey
Chelsea Hayes/ Klara Kaczmarek About CPI www.uk-cpi.com The Centre for Process Innovation (CPI) was established by the Regional Development Agency, One North East, in 2004 to act as a Centre of Excellence for the Process Industry. One of its first projects was the Fuel Cell Application Facility (FCAF) which allowed it to evaluate the technology and determine what was required in order to realise commercialisation. It has established a number of practical fuel cell demonstrations in the North East of England (including the world's first fuel cell powered lighthouse) which have given it insight into what constitutes a realistic fuel cell technology with the potential for commercial success. This information is provided by RNS The company news service from the London Stock Exchange END
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| 29-10-09 | RNS |
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RNS Number : 5570B AFC Energy Plc 29 October 2009 AFC Energy PLC ('AFC Energy' or the 'Company') AFC Energy's Waste to Energy partner appointed by Alter NRG Westinghouse AFC Energy, the low-cost alkali fuel cell company, is pleased to announce that its partner Waste2Tricity has made the following press release this morning. AFC Energy has an agreement with Waste2Tricity Ltd to supply AFC fuel cells for integration into its system for the conversion of Municipal Solid Waste ("MSW") to energy. Alter NRG Westinghouse appoints Waste2Tricity Ltd as exclusive representative for its energy from waste plasma gasification system London, 29 October 2009 - Waste2Tricity has been appointed by Alter NRG, the owner of Westinghouse Plasma Corp., as its exclusive UK sales representative for its plasma assisted gasification technology. The agreement covers all energy recovery from waste applications including the conversion into electricity of various forms of waste including municipal solid waste (MSW) as well as commercial and industrial, hazardous, agricultural, construction and demolition waste. Westinghouse Plasma Corp's technology is used in the world's only commercial reference plant that converts MSW into electricity using plasma gasification. Westinghouse Plasma Corp, considered to be the world leader in plasma gasification, and Hitachi Metals collaborated to design the facility which was commissioned in 2003 and continues to operate today. Plasma torches supplied by Westinghouse Plasma Corp have a history of more than 500,000 operating hours at facilities around the world. Earlier this year, Alter NRG signed a Joint Development Agreement with Air Products, which gives Air Products the right to license and incorporate Alter NRG's proprietary Westinghouse plasma gasification technology for use in renewable energy projects in Europe and North America. Waste2Tricity's agreements with Alter NRG, and its exclusive rights to new generation alkaline fuels cells under development by AFC Energy plc, provide Waste2Tricity with a distinct advantage in the UK market. AFC Energy is an innovative producer of low-cost new generation fuel cells targeting waste hydrogen in commercial applications. AFC's fuel cell system has successfully completed initial field trials at AkzoNobel's chlor-alkali plant in Bitterfeld, Germany. Alter NRG's technology is ideal for producing a hydrogen stream, from waste and other low value feedstocks, which is suitable as fuel for AFC's technology. Peter Jones, director of Waste2Tricity says: "Our appointment by Alter NRG Westinghouse as its independent UK sales representative is a great achievement. Waste2Tricity is in discussion with a number of potential end users and believes that key players in the waste industry recognise plasma gasification as a commercially attractive alternative to traditional incineration, maximising energy gains from diverting landfill material and minimising environmental impact. "We believe that the combination of Alter NRG's plasma technology and the AFC Energy fuel cell will give Waste2Tricity the most commercially attractive model available in the market for generating electricity and will ensure that Waste2tricity becomes the market leader." Kevin Willerton, Vice President of Strategic Alliances and Business Development at Alter NRG Westinghouse, adds: "Working with Waste2Tricity is a logical fit due to the close synergies between the two companies. Alter NRG's technology can lead to power through applications such as combined cycle, steam cycle, or internal combustion engines. The syngas produced by our technology can also be used as fuel for the production of renewable ethanol and Waste2ricity will be looking to apply the technology for all these applications depending on customer requirements." Waste2Tricity will work with clients to help them specify Alter NRG's commercially established plasma gasification technology to convert MSW and other feedstock into syngas. This syngas is then cleaned and used for energy generation or as a feedstock for other product production. During plasma gasification, carbon based feedstocks are exposed to high temperatures (5,000° Celsius plus) generated by plasma torches in an oxygen starved atmosphere. This causes the feedstock to break down into component molecules and form a syngas rich in carbon monoxide and hydrogen. Waste2Tricity calculates that an Alter NRG gasifier combined with internal combustion engine (ICE) generators would use 8k tonnes of feedstock per year per MW of generating capacity, compared with 10-12k tonnes of feedstock for a traditional incineration model. Waste2Tricity believes it will have the most efficient commercial model for generating renewable electricity from diverted landfill feedstock once AFC's low temperature alkaline fuel cell is available, with the capability of using only 5k tonnes of feedstock per year per MW of electrical generating capacity. A technology agnostic company, Waste2Tricity will advocate the use any power conversion technology including steam, ICE or gas turbine depending on customer's individual requirements for their sites. Alter NRG Westinghouse and Waste2Tricity are working closely with strategic partners to secure the specification of plasma assisted gasification for plants capable of processing between 100k and 250k tonnes per annum of waste feedstocks including refuse derived fuels. While not the focus, plants smaller than 100k tonnes per annum may be considered. Other recent Alter NRG developments include an alliance agreement with Uhde Engineering Consulting (Shanghai) Co. Ltd under which Uhde Shanghai will provide engineering and marketing services and jointly pursue business opportunities in the Asia Pacific region, Mexico, Central America and South America using the Westinghouse Plasma Corp technology. Finally, Coskata Inc.is using Alter NRG's WPC plasma gasification pilot facility as the site for a cellulosic ethanol commercial demonstration project using Coskata's syngas to ethanol conversion technology.
About Waste2Tricity Waste2Tricity is a new British venture established to implement the most efficient energy conversion process available, - by intending to implement a unique combination of new generation alkaline fuel cells with plasma gasification and other existing proven technologies. The system will therefore have significant environmental and cost benefits over other methods of electricity generation. For more information, visit Waste2Tricity at http://waste2tricity.com Waste2Tricity contacts: Claudia Kellermann/Sheila Gimson Portfolio Communications Ltd. Tel: 020 7240 6959 waste2tricity@portfoliocomms.com About Alter NRG Alter NRG is pursuing alternative energy solutions to meet the growing demand for environmentally responsible energy in world markets. The Company's vision is to commercialize growth technologies through environmentally sustainable and economically viable alternative energy projects. The Company's objectives are twofold; First, is to further commercialize the Westinghouse Plasma Gasification Technology, a wholly owned subsidiary, to provide renewable and clean energy solutions from a wide variety of feedstock's, and providing a wide variety of energy outputs - including liquid fuels like ethanol, power, and syngas; Second, to capitalize on the rapidly growing geoexchange residential and commercial heating and cooling market through a wholly owned subsidiary CleanEnergy that enables consumers to reduce their carbon footprint and reduce the cost and volatility of energy bills using the energy from the earth. Alter NRG contacts: Mark Montemurro, President and Chief Executive Officer (403) 806-3877 mmontemurro@alternrg.ca Daniel Hay, Chief Financial Officer (403) 806-3881 dhay@alternrg.ca Dufferin County Contact: Trevor Lewis, Director of Public Works 519-941-2816 (2601) For further information on AFC Energy, please visit www.afcenergy.com or contact:
Tim Yeo, Chairman Ian Balchin, Managing Director David Marson, Finance Director This information is provided by RNS The company news service from the London Stock Exchange END
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| 13-10-09 | RNS |
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RNS Number : 6557A AFC Energy Plc 13 October 2009 13 October 2009 AFC Energy PLC ('AFC Energy' or the 'Company') AFC Energy announces major technology milestone and operational update AFC Energy PLC, the developer of low cost alkaline fuel cells, is pleased to announce that it has successfully completed an important field test of its first generation, lower cost, non-platinum electrodes at AkzoNobel's chlor-alkali plant in Bitterfeld, Germany. During the test AFC Energy's fuel cell system fed electricity into AkzoNobel's grid, on a par with previous field tests using platinum based electrodes. General Update
Following the installation of the Company's fuel cell system at AkzoNobel's Bitterfeld plant in Germany, the Company is pleased to announce that it has completed an important field test of its first generation, lower cost, non-platinum electrodes in its fuel cell system. In addition to generating electricity this field test included exporting electricity to the customer's on-site grid and automated operation of the fuel cell and remote monitoring of the fuel cell performance was demonstrated. The Company's technical team continues to develop innovative solutions that will enable the Company's fuel cell systems to be manufactured at lower cost and with higher efficiency. The Company has recently filed applications for a further 4 patents as part of the measures to protect its core intellectual property. The Company's intellectual property strategy centres on protecting developments made to its low cost electrodes. An upgrade to AFC Energy's development facility is now close to completion. This upgrade is aimed at reducing the time taken to develop and optimise electrode materials and to enable the Company to rapidly manufacture sufficient electrodes for its initial requirements. The iteration time to prepare new electrode materials, manufacture electrodes, test them, analyse them and review their performance is now a matter of hours rather than days as it was prior to the upgrade. The Company now has the capability to manufacture, depending upon the precise process details, up to 1000 electrodes per day in house. The next significant phase of development is the continuing improvement to electrode and system performance towards its full design specification. In particular, AFC Energy's work will be concentrating on further development of its proprietary, low cost, electrodes. In parallel with this work, the upgraded development facility and the recruitment of additional staff has enabled the Company to accelerate development of its large fuel cell system which is designed to work at up to 50 kilowatts ('50kW System'). The Company now expects the 50kW System to be ready for field trials as early as the first calendar quarter of 2011. This 50 kW System will be the Company's building block for large scale, multi-megawatt installations. The Company has made several new appointments to its operational staff principally in support of accelerating development of the 50 kW System. These include a production manager and fuel cell scientist, Dr Richard Dawson who joins the team from Ceres Power where he held the position of Senior Engineer. With careful cost management AFC Energy has been able to strengthen its team and implement the upgrades to its development facilities without increasing overall running costs. Other than initial quantities, the Company does not intend to assemble fuel cell systems in-house. AFC Energy's fuel cell systems operate at low temperatures and at close to atmospheric pressure. They can be fabricated from low cost materials and components made using low cost processes. There are considerable economies of scale which can be achieved through contracting out the assembly to third parties and so the Company's projected capital spend is modest. In terms of target markets, AFC Energy's core focus remains on delivering commercially viable fuel cell systems to the chlor-alkali industry for stationary power generation from its surplus hydrogen, which is generated as a by-product. The Company is continuing to target additional markets for the efficient generation of electricity from hydrogen, including the waste to energy market where hydrogen can be liberated from organic waste. Ian Balchin, AFC Energy's Managing Director, said: "This successful testing of our fuel cell system using proprietary, lower cost, electrodes demonstrates that the AFC Energy has taken the next step in the development of a truly low cost, commercially viable, alkali fuel cell system. I wish to extend my thanks to the innovative team from AFC Energy and AkzoNobel that have contributed towards this success. Our sights are very much set on our 50 kilowatt system which will become the building block for multi-megawatt installations. I particularly welcome the new appointment of fuel cell scientist, Dr Richard Dawson to work on the 50 kilowatt system. With our strengthened team and upgraded development capability, we believe we shall be able to develop our proprietary electrodes faster and at a lower cost than any other company. We now expect to have our 50 kilowatt system available for field trials as early as the first calendar quarter of 2011 and our smaller system to be available during 2010." For further information please visit www.afcenergy.com or contact:
Tim Yeo, Chairman
Ian Balchin, Managing Director
Shane Gallwey
Chelsea Hayes This information is provided by RNS The company news service from the London Stock Exchange END
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