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In March 2010 Red Hot Penny Shares tipped AFC with an initial 50p price target.
Allenby Capital’s research note published March 8th 2010 has a price target of £1.37. This does not include any waste2electricity business which is considered to be significant.
allenbycapital.com
In April 2010, Dr John Helliwell from the CPI published an independent technical review on AFC Energy. He concluded, “Although there is further development work to complete, in my view, given the progress I have observed to date, there is no obvious reason why the Company should not be successful in commercializing the system within the two year timeframe it is predicting”
industrytoday.co.uk
On April 21st 2010 the former Government Chief Scientific Adviser, Sir David King., (now the Director of the Smith School of Enterprise and the Environment at the University of Oxford) visited AFC Energy. Sir David said, “The biggest single challenge we’re faced with globally is to move from a fossil fuel-based economy to fossil fuel less-society. To me, this challenge is the most wonderful technology, innovation, wealth creation possibility. What I’ve just seen at AFC is an exciting example of this. The alkaline fuel cell has the possibility to create power stations with megawatts of electricity.”
View the video of this interview here:
thepowerofthefuture.co.uk
On June 27th the Sunday Express reported that B9 Coal and AFC Energy have identified the mothballed Corus plant on Teeside as the suitable site for a clean coal power station that would create thousands of jobs.
afcenergy.com
On 29th June 2010 Linc Energy announced the successful trial of AFC’s alpha fuel cell system. Linc’s CEO said, “This effectively demonstrates that combining the AFC Fuel Cell technology with hydrogen from Linc Energy’s syngas produced from the world-class UCG at Chinchilla is a feasible route to achieve the ultimate in clean electricity from stranded, sub-economic coal, of which there is an abundance in the world.”
lincenergy.com.au
On July 7th 2010 Allenby updated their research note, maintaining their 137p target price and stating, “AFC is on track to commercialise its low-cost, alkaline fuel-cell technology for mainstream clean energy generation.”
afcenergy.com
On July 9th 2010 AFC Energy was cited as the core of a new venture, Cambridge Carbon Capture, that sees its commercial scale liquid alkaline fuel cell as part of a CO2 conversion, not capture or sequestration, system.
proactiveinvestors.co.uk
On July 15th 2010 it was announced that B9 Gas was planning to create a natural gas power station using AFC’s fuel cells. The director of B9 Gas, Alisa Murphy stated, “We are offering a technically advanced solution to the problem of carbon emissions and climate change. The combination of natural gas with alkaline fuel cell technology will become a game-changing template for clean energy generation with carbon capture”.
stockopedia.co.uk
On 20th July 2010 AFC ups their PR campaign with the release of new films to put the focus on fuel cells for the ‘Power of the Future’
afcenergy.com
On 20th July Air Products announces their plans to build a new 49MW renewable energy plant in Tees Valley. The plant has the potential to generate renewable hydrogen for mobile and stationary energy applications and is being considered for a demonstration of Waste2Tricity’s fuel cell technology, potentially aiding moves in the North East to develop hydrogen technology.
airproducts.co.uk
On 26th August B9 Coal put forward a 500MW electricity generation project (using AFC fuel cells) to the Department of Energy and Climate Change competition. If successful this would materialise at Rio Tinto Alcan's Lynemouth plant in Northumberland.
fuelcellsworks.com
On 29th September AFC Energy appoints Ed Wilson manufacturing director. Ed previously worked as chief executive of CEL International who are collaborating with AFC. He has an impressive career history with the likes of Diageo, Cadburys, GSK, AstraZeneca.
afcenergy.com
On 4th October a binding LOI is signed between AFC, B9 Coal and Powerfuel Power Ltd to build a fuel cell power station for 300MW of power from surface coal gasification/or natural gas. This will take place at the Hatfield site.
carboncapturejournal.com
On 9th October Reuters post details of an interview which spreads rapidly to other sites including the Guardian newspaper.
The cheapness of the fuel cells are highlighted: "You can buy these ceramic catalyst materials, which used to be around 30 pounds a gram, at around 30 pence per gram, which has changed the economic argument," AFC technical director Gene Lewis said. This compares to around 34.60 pounds per gram for platinum. And the founder of AFC, Howard White said “We see no reason why it can't be commercialised by next year." af.reuters.com
On 12th October Linc Energy purchase £2.97m of shares, giving them worldwide exclusivity to utilize and operate AFC fuel cells in conjunction with underground coal gasification and to use AFC fuel cells in any commercial or research application in Australia. AFC also announced a further £1.055m investment thereby raising the company a total of £4m. AFC’s CEO said, “The additional investment received will be used to take AFC Energy well into the early stages of commercialization. proactiveinvestors.co.uk
On 15th October Terry Bond, CEO of Linc Energy says in a radio interview, “Linc is really focussed on driving its commercial operations forward in particular in North America, Wyoming and Alaska. Around the world there are so many opportunities at the moment to commercialise UCG and that’s our focus.”
“Announcements will come I believe by end of the year. Probably early next year you’ll start to see further commercialisation announcement on the AFC fuel cell and what we’ll be doing with that in the future. We may if the results are as positive as they look to be over the coming months we may be announcing a super green power station on the back of that which is basically a carbon free power station run off clean gas. The only bi-product from that is water and that is using these AFC fuel cells. We’ll wait to see to early next year to get the current tests on these fuel cells completed.”
brr.com.au
On 15th October Terry Bond, is reported as saying, “A small working power plant is expected to be in place in Chinchilla by next year and adding to it would simply be a matter of installing more units”. lincenergy.com.au |
