Silicon Investor - Fuel Cell Investments

[TheStag] We got the first wave up … the second wave is in preparation

TheStag — 2/1/2022 9:56:19 PM

[dvdw©] Happens often enough that Authentic intelligence (AUT) leads Artificial intellig...

dvdw© — 7/20/2018 8:56:02 AM

Happens often enough that Authentic intelligence (AUT) leads Artificial intelligence (AI), afterall, the artificial side has the weapons of contrivance on its side.

As we should all be learning AI is a derivative of the necessity to be relieved from, the inherent weakness of compartmentalized systems.

AUT will stand here and after for Authentic Intelligence whose learning accounts for the effects cast by contrivances constructed by compartmentalized systems.

Adaptation will be required by all participants no matter which side of the fence they originate or are predisposed to organize around.

[TheStag] Wave 3 is coming for this sector... Amazon already knows...

TheStag — 7/20/2018 6:52:12 AM

[dvdw©] This thread is waiting vindication. All shareholders in this space have already ...

dvdw© — 7/18/2018 6:51:51 PM

This thread is waiting vindication. All shareholders in this space have already been rinsed. Exciting times are coming. All prices are always artifacts of some prevailing systems intent.
welcome to the wild card, part 4.
Remember always, no system is ever better, than its own Sensory organs. Ro/Rs=CF

[TheSlowLane] AFC Energy picks up first fuel cell order from Australian partner AFC Energy pl...

TheSlowLane — 7/12/2018 11:32:39 AM

AFC Energy picks up first fuel cell order from Australian partner

AFC Energy plc ( LON:AFC) shares rocketed higher on a first commercial order from Australia for a hydrogen power unit using its fuel cells.

Southern Oil will install the unit, expected to be between 200kW and 400kW in capacity, at its advanced biomass facility at Gladstone.

Details remain to be finalised though AFC Energy plans to sell the balance of plant for its hydrogen generation unit to Southern Oil and lease the system's stack and electrodes for an undisclosed sum.

Northern Oil, a subsidiary of Southern Oil, is building a large industrial scale pilot plant where surplus hydrogen generated from the system is to be made available for consumption within a fuel cell.

Hydrogen produced from the Gladstone refinery is expected to generate power at a lower cost than its existing grid tariff.

AFC will deliver the project in the first half of 2019.

Adam Bond, AFC’s chief executive, said: “ The order received for the Company's fuel cell system reflects the first stages of a growing pipeline of commercial fuel cell projects in country and validates the opportunities we believe to be emerging in the Australian hydrogen market.”

Tim Ross, Southern Oil’s CEO, added: “In developing the Gladstone Advanced Biofuels Pilot Plant over the last three years, Southern Oil, has benchmarked cutting-edge renewable technologies from around the world. In my mind, AFC Energy's Alkaline Fuel Cell has great potential."

AFC and Southern Oil originally agreed to collaborate on how to integrate AFC Energy’s fuel cells into a commercial power system last year.

http://www.proactiveinvestors.co.uk/companies/news/200663/afc-energy-picks-up-first-fuel-cell-order-from-australian-partner-200663.html

[TheSlowLane] AFC Energy Quarterly Newsletter - September 2017 Dear Shareholder, I am ...

TheSlowLane — 10/6/2017 7:01:28 PM

AFC Energy Quarterly Newsletter - September 2017

Dear Shareholder,

I am pleased to provide an overview of the Company's activities for the quarter ended 30 September 2017.

As we proceed into the final quarter of 2017, we are also commencing the final stage of AFC Energy's three-year accelerated path to a commercial fuel cell technology platform.

I am pleased to confirm we remain on track!

Throughout the course of Q4 2017, I will be providing you with updates on progress made, further demonstrating the game changing nature of our technology within the international power market.

Within the scope of this quarterly newsletter however, I wish to highlight the following key developments that are now coming together in support of this outcome:

· Longevity of fuel cell electrodes, a key driver of cost reduction, on an extrapolated basis, continues to materially improve with 2017 targets well within sight and likely to be exceeded;

· These same electrodes developed with Industrie De Nora ("De Nora") under our Joint Development Agreement ("JDA") are now engineered and fully integrated into the AFC Energy fuel cell stack with excellent results from industrial-scale sized electrodes validated in Surrey;

· Introduction of AFC Energy's newly designed fuel cell stack without solid nickel substrate frames, now demonstrated both at laboratory scale and industrial scale with improvement in stack performance - while reducing stack costs by up to 30%;

· Balance of plant design optimisation now completed and implemented at Stade, capable of accepting new full-scale fuel cell stacks for longevity validation during Q4 2017;

· Clarity over roadmap to a power generation cost from the AFC Energy fuel cell stack of less than US$0.10 / kWh;

· Completion of engineering scoping study at Covestro's Brunsbuttel industrial park incorporating design of AFC Energy's first 1MWe fuel cell system;

· Visit by De Nora CEO to AFC Energy's Surrey head office to inspect progress made in the first twelve months of the JDA, and progressing negotiations towards an electrode supply agreement;

· Invitation from De Nora to present at their October 2017 "invitation only" conference in the United States to existing and prospective clients across the global chlor alkali industry where De Nora are the leading provider of electrodes to over 50% of the industry.

Importantly, over the past few months, several new initiatives have commenced within the team that have the potential to provide new and exciting opportunities for AFC Energy as it commences commercial technology deployment. These initiatives could again materially revolutionise the scale of opportunity within the hydrogen economy in which we are investing today whilst building on our core technology platform. But more on that later.

I trust you can sense the important progress made by the Company and its partners over the past quarter as we continue to consolidate efforts towards a commercial fuel cell stack by the end of the calendar year. I hope this newsletter provides an overview of these developments and their importance to the success of our commercialisation programme.

Fuel Cell Development

As I highlighted in the June 2017 Quarterly Newsletter, the collaboration with De Nora is of specific importance to the achievement of our accelerated commercialisation roadmap outlined almost three years ago. We are now well and truly focussed on scale up of results achieved by our two companies "in the lab" into an industrial scale fuel cell system.

Importantly, in fully integrating the new JDA electrode into the AFC Energy fuel cell stack, certain design changes were instigated including removal of the solid nickel substrate and replacing this with a plastic frame with the electrode adhered within the frame. This change has now been fully tested with immense success resulting not only in an improvement in fuel cell performance, but also a material reduction in stack cost of up to 30%.

These electrodes and new stack design are currently in operation at AFC Energy's facility in Surrey.

Accordingly, we remain focused on delivering the following outcomes by the end of this year;

· Achieve full integration of commercial fuel cell electrodes into the AFC Energy stack design and delivering operational results from this stack at our facility in Stade, Germany.

· With successful electrode integration complete, finalise our design for a commercial fuel cell electrode architecture and stack design that is capable of mass production with warranted performance metrics. As you will have noted from previous newsletters, we have already achieved three out of the five commercialisation metrics. Our scoping study at Covestro is demonstrating that the cost targets are achievable, and the joint work with De Nora is surpassing the expectations of both parties regarding longevity forecasts.

· Develop dialogue with De Nora for the terms related to a mass electrode manufacturing agreement.

I am very excited by the progress we continue to make, as we move steadily through the plans I communicated in the June Quarterly Newsletter. Further details on this progress are provided below.

Finalisation of Balance of Plant (BoP) Changes at Stade

In the June Quarterly Newsletter, I mentioned that we had completed the design changes that were needed to upgrade the BoP. The construction of these changes has now been completed - whilst not extensive they were difficult to design and construct within the limited space envelope available. 'Dry' commissioning of the changes has been completed and the facility is ready to accept the upgraded stack and cartridge during Q4 2017.

But why make changes to a facility that had previously worked? In summary, our intention is to achieve the key driver to enable deployment of power projects globally … commercial viability. The changes made not only enable the acceptance of the newly designed fuel cell stacks referred to above, but also enhance the system for longer term commercial operation in a way that maximises the chances of a successful commercial and affordable fuel cell operation.

The initial fuel cell deployed at Stade provided AFC Energy with a tremendous reference site for a static fuel cell power generation plant, but at the time of commissioning, did not fully address all the metrics of commercialisation. We are now addressing these issues which will play into the demonstration of a commercial fuel cell platform during Q4 2017.

We are also in the process of closing out project Power-Up. We will imminently be submitting our final report to the EU Fuel Cell and Hydrogen Joint Undertaking. Doing so will facilitate the release of funds due to AFC Energy, and its partners, under project Power-Up.

Commercialisation Metrics - P.L.A.C.E.

I spoke about these commercialisation metrics at the AGM earlier this year and as a reminder of their meaning, the P.L.A.C.E. metrics are as follows;

P - Performance - achieve > 10 kW / cartridge (achieved)

L - Longevity - achieve electrode longevity of > 1-year operation (key cost driver)

A - Availability - up to 98% in a normal operating year (achieved)

C - Cost - lifetime cost of electricity target <US$ 0.10 / kWh (on track)

E - Efficiency - electrochemical conversion efficiency for hydrogen > 60% (achieved)

Following the commissioning of the initial plant at Stade and then in what you may recall was referred to as the Gen. 2.0 work, we were able to deliver three out of five of the metrics. This was a great place to be at the end of 2016, but we needed to progress further. To be able to generate competitive clean baseload power we needed to take steps to achieve the Longevity and Cost targets.

De Nora JDA Agreement - Update

We entered into our JDA agreement with De Nora so that we could look at electrode development work in a collaborative manner. De Nora, in their normal business sector, are the leader in electrode supply to the Chlor Alkali industry where they offer industry-leading warranties to the performance of their electrodes. We are seeking to mirror these characteristics to AFC Energy's fuel cell system and to our customers and partners.

The benefit of the JDA is not only do we seek to deliver this year an initial one-year operational life of our electrodes, but through collaboration, we are now starting to look towards two-year operational lives with a line of sight to a four-year economic operational electrode life.

The ability to deliver this extended operational lifetime in our electrodes is the critical factor in reducing the levelized cost of power to less than US$ 0.10 / kWh. This would be an incredible outcome not only for AFC Energy, but for the fuel cell industry and the wider hydrogen economy, and will put our technology on a comparable footing with other low carbon, baseload power generation technologies.

Working with De Nora, we are confident this is a credible outcome that is now within reach, and to the extent AFC Energy can offer a warranted electrode life of up to four years, not only will we see the financeability of the technology enhanced for commercial project deployment, but we should also see an enhancement to margins and financial return to shareholders in the medium term.

Completion of Covestro 1 MWe Design Basis Engineering Study

After Stade, we wanted to design a fuel cell plant that could provide clean baseload power at 1MWe output, as a repeated design basis that could meet the increasing scaled size of our partner's and prospective partner's commercial projects.

Following the recent engineering and scoping study, conducted at Covestro's Brunsbuttel industrial park in Germany, we have now completed the design basis for a 1MWe power project. Not only does this design basis incorporate the learnings form Stade, it also contributes to our ability to improve the cost metric through the benefit of economies of scale. Specifically, the results of the study are that we now not only have a view of cost of power production at < US$ 0.10 / kWh but are in line of sight of the CAPEX levels equivalent to those norms for established thermal generation. Both of these outcomes are a landmark achievement for AFC Energy.

Having completed the engineering and scoping study, we will shortly commence dialogue with Covestro with regards the next steps towards project delivery.

Home and Away

Closer to home, at Dunsfold, we continue to make progress - using the outcomes from the Covestro scoping study - on the Front-End Engineering and Design study for the 1MWe micro-grid scheme. The difference with this scenario, compared to a typical chlor alkali opportunity, is that the hydrogen will need to be generated via steam methane reforming of bio-methane. This poses additional challenges which we are in the process of addressing. Both Covestro and Dunsfold project opportunities are being developed in conjunction with discussions ongoing in Korea, the Middle East and in the North West of England at Peel Environmental's Protos site.

We have also been undertaking initial study work to assess how we can provide clean back-up power generation via fuel cell utilisation. Normally this type of back-up power is met through the application of diesel generators - however, the AFC Energy option study has addressed this issue by looking at a modularised 80 - 160 KW solution with the hydrogen fuel source being derived from cracked ammonia. This work is being finalised and is targeting a market segment that, globally, is worth more than US$20billion.

In addition to these prospects we have also been busy, as usual, with our ongoing research efforts and have recently published our first scientific paper, "In-operando optical observations of alkaline fuel cell electrode surfaces during harsh cycling tests". I bring this to your attention as it underlines the nature and expanse of the type of ongoing test work needed to bring our product to market.

Further afield we have been invited to speak at the De Nora Chlorine / Chlorate Seminar in Cleveland, USA. This seminar is a bi-annual event organised by De Nora for their customers in the chlor alkali sector. The global chlor alkali market has long been a key target of AFC Energy and this represents a fantastic opportunity for us to present the solution our product offers to the leading players in that sector helping them to take greater control of their energy needs. The invitation not only underlines the close relationship we have with De Nora but also validates our working arrangement with the market leader for electrode supply to the chlor alkali sector.

In conclusion, I trust you will see from the overview contained in this Newsletter that there are many aspects of our ongoing work that are extremely exciting in providing a market leading clean energy generation displacement technology, providing us with an excellent launch platform for a fuel cell that meets the commercial standards we have set ourselves.

I wish you all a pleasant Autumn,

Yours sincerely,

Adam Bond

Chief Executive Officer

[Glenn Petersen] Fuel-Cell Market Update: Plug Power Wins Amazon Deal, Bloom Mystery Persists We...

Glenn Petersen — 4/17/2017 8:34:14 PM

Fuel-Cell Market Update: Plug Power Wins Amazon Deal, Bloom Mystery Persists

We update the list of profitable fuel companies.

by Eric Wesoff
GTM
April 10, 2017

We update the list of profitable fuel companies.
_____________________________

by Eric Wesoff
April 10, 2017

2017 could be the year that fuel-cell technology finally breaks out. Here's why that may or may not happen.

First, the potentially good news.

Plug Power feels like an Amazon

Last week, fuel-cell builder Plug Power announced that Amazon, the world's largest online retailer, had gained the rights to buy up to 23 percent of the firm, in a deal that has Amazon spending $70 million in cash for fuel cells this year and $600 million over the course of the engagement. That's a big deal with the globe's pacesetter in the $20 billion materials-handling market.

Plug Power's system speeds up work in warehouses, replacing battery charging with proton exchange membrane (PEM) fuel cells and hydrogen systems designed to make forklift operation more efficient (although batteries are still used in the forklifts for surges). The Amazon deal is a multi-site agreement with fuel-cell forklifts being deployed at 11 warehouses.

While Bloom and FuelCell Energy's equipment runs on natural gas and requires a reformer, Plug Power's PEM fuels cells run on "five nines" hydrogen and work most productively with a hydrogen infrastructure at the customer site. (Note that industrial giant and JV partner Air Liquide is an investor in Plug Power.

Amazon is in an efficiency arms race with Wal-Mart to dominate retail product fulfillment -- and fuel cells give the company an edge. Wal-Mart, already a Plug Power customer, has 250 forklifts at one location (thousands in all) -- and powering that fleet's batteries can account for up to 25 percent of the facility's electric bill.

The Bloom Energy fuel-cell wild card

Late last year, The Wall Street Journal reported that Bloom submitted a confidential registration for its IPO with the Securities and Exchange Commission. The report cited "people familiar with the matter." This action by Bloom falls under the Jumpstart Our Business Startups Act, which allows confidential filings for companies with less than $1 billion in revenue.

So, the only news was that Bloom had less than $1 billion in revenue last year. GTM has already reported that the structure of some 2015 notes suggested that we should be hearing more about Bloom's IPO right about now.

The energy company has raised more than $1.2 billion since 2001, from investors including the New Zealand Superannuation Fund, KPCB, NEA, Goldman Sachs, DAG, GSV Capital, Apex Venture Partners, Mobius Venture Capital, Madrone Capital and SunBridge Partners.

Board members include John Doerr of KP and former U.S. Secretary of State Colin Powell.

Bloom builds fuel cells of the solid-oxide variety with natural gas as the fuel. There is no heat resource in the Bloom Box as in other CHP fuel cells. The 200-kilowatt units are intended for commercial and industrial applications, and the firm boasts an all-star list of customers, including Adobe, FedEx, Staples, Google, Coca-Cola and Wal-Mart.

Bloom's most recent $2.9 billion VC valuation dwarfs the collective market cap of the public fuel-cell firms, and its revenue might be greater than the collective revenue of those other firms.

The 15-year-old startup claims to have installed more than 200 megawatts of its Bloom boxes in the U.S. We'll look for the details in the company's highly anticipated S-1.

And now for the not-so-good news

In keeping with GTM tradition, here's a just-updated list of the top three profitable publicly held fuel-cell firms:

The table below gives a breakdown.

FIGURE: Revenue and Losses at Publicly Traded Fuel-Cell Companies

Source: Company reports

Fuel cell themes: Imminent profits remain imminent

Fuel cells employ an assortment of membranes, catalysts and temperatures, but in almost all cases, the membranes are difficult and expensive to fabricate, the catalysts are rare and expensive (typically platinum or palladium), and the temperatures required in the processes are relatively high. Fuels range from natural gas to methanol to butane to hydrogen. There are ongoing efforts to reduce the need for expensive metals and to improve the reliability and lifetime of the fuel-cell stack.

Leading technologies include proton exchange membrane (PEM), solid oxide (SOFC) and molten carbonate (MCFC). There are a number of other technologies, all equally adept at oxidizing investor capital. GM, Hyundai, Honda, Johnson Matthey, Panasonic, Siemens, Samsung, Sharp, Toshiba and Toyota have all invested in fuel-cell technology.

FuelCell Energy CEO Chip Bottone told GTM in a previous interview that his firm will be profitable when it achieves an 80-megawatt-per-year run rate. Late last year, Fuel Cell Energy laid off 96 positions or approximately 17 percent of its global workforce. Plug Power CEO Andrew Marsh told GTM that his firm would be profitable in 2013. Last week, he suggested that could occur in 2018. Bloom Energy was rumored to be close to profitability in 2013.

A profitable year for a publicly traded fuel-cell company would break a 100-year drought in the sector.

Fuel-cell vehicles, the DOE and fuel-cell startups

Globally, more than 60,000 fuel cells, totaling over 300 megawatts, were shipped worldwide in 2015. That's up from 50,000 fuel cells shipped in 2014, a total of 180 megawatts, according to a DOE report ( PDF). The fuel-cell industry grew to $2.2 billion in 2014, up from $1.3 billion in 2013, according to the DOE report.

Hydrogen fuel-cell cars are not selling very well, due in large part to lack of fueling infrastructure and limited product offerings. But, just as battery-powered buses might drive the next spurt in lithium-ion EV drivetrain growth, so might buses drive the fuel-cell industry. In 2015, there were more than 370 fuel-cell systems delivered or on order for fuel-cell bus deployments, according to the DOE.

VC funding for fuel cells has been negligible, and the future availability of DOE funding for fuel-cell programs is now uncertain amid budget talks. But innovation continues nevertheless. A new firm, Watt Fuel Cell Corp., a developer of a solid-oxide fuel cell that runs on propane, natural gas and diesel, is using an automated printing process to perform some of the manufacturing steps.

Fuel-cell market forecasts are all over the map, however. The research firm MarketsandMarkets sees a $5.2 billion industry by 2019, with a compound annual growth rate of 14.7 percent from 2014 to 2019. According to a 2014 report from Navigant Research, the global revenue for stationary fuel cells will grow from $1.4 billion in 2013 to $40 billion in 2022, while WinterGreen Research sees the stationary fuel-cell market poised to increase to $14.3 billion in 2020.

In the face of these wild projections, a 2013 study by Lux Research found that in spite of the billions spent on R&D by government and industry, “The dream of a hydrogen economy envisioned for decades by politicians, economists, and environmentalists is no nearer, with hydrogen fuel cells turning a modest $3 billion market of about 5.9 gigawatts in 2030.”

Forget the forecasts. Keep your eye on the execution of that Plug Power/Amazon deal, and watch how Bloom fares as it attempts to go public. That will be a better indication of the health of the fuel-cell industry and the state of the race toward profitability.

greentechmedia.com

[TheSlowLane] AFC Energy ... new website afcenergy.com

TheSlowLane — 8/15/2016 7:35:06 PM

[A.J. Mullen] FuelCell Gains on Deal to Build 5.6-Megawatt Plant for Pfizer January 4, 2016 —...

A.J. Mullen — 1/4/2016 10:29:00 AM

FuelCell Gains on Deal to Build 5.6-Megawatt Plant for Pfizer

January 4, 2016 — 6:35 AM PST
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bloomberg.com

Fuel cell will supply heat and steam to plant in Connecticut

System expected to go into operation by middle of 2016

FuelCell Energy Inc. climbed the most in almost three months after the company agreed to build a 5.6-megawatt power plant at a Pfizer Inc. research facility in Groton, Connecticut.

FuelCell shares gained 8.6 percent to $5.39 at 9:32 a.m. in New York, after earlier rising as much as 12 percent, the most intraday since October 5.

The fuel cells will supply the 160-acre site with electricity and steam over 20 years under a power-purchase agreement, Danbury-based FuelCell said in a statement Monday. Terms weren’t disclosed.

The fuel-cell system will convert natural gas to power and steam through a chemical reaction, and provide power to Pfizer even if the local utility grid shuts down. FuelCell expects to complete the project by the middle of this year.

[TheSlowLane] AFC Enters Heads of Agreement with Global Manufacturing Partner17 November 2015 ...

TheSlowLane — 11/18/2015 2:14:42 AM

AFC Enters Heads of Agreement with Global Manufacturing Partner17 November 2015

AFC Energy plc (AIM: AFC.L), the industrial fuel cell power company, is pleased to announce that it has signed a Heads of Agreement with a global manufacturing partner for the international procurement and manufacture of its leading alkaline fuel cell systems.

The Heads of Agreement sets out the basis of a proposed manufacturing services agreement, the terms of which will be negotiated over the coming months with AFC expecting to make an announcement on the final terms of the deal thereafter.

afcenergy.com

[TheSlowLane] AFC is on fire... AFC Signs Landmark Memorandum of Understanding with Dubai Car...

TheSlowLane — 4/23/2015 12:00:52 PM

AFC is on fire...

AFC Signs Landmark Memorandum of Understanding with Dubai Carbon at WETEX 2015 for an estimated 300MW of AFC Fuel Cells in Dubai

AFC Energy plc (AFC.L), the industrial fuel cell power company, is pleased to announce it has today signed a Memorandum of Understanding with Dubai Carbon Centre of Excellence ("Dubai Carbon") at the 2015 Water, Energy, Technology and Environment Exhibition (WETEX) in Dubai. The MOU, provides a framework for the assessment and potential deployment of an estimated 300MW of fuel cell generation capacity in Dubai.

Highlights

· 300MW of fuel cell capacity being assessed for deployment in Dubai by the end of 2020, making this the largest single fuel cell deployment programme in the world

· Joint venture to be negotiated between Dubai Carbon and AFC for commercial projects

· Potential for multi-billion dollar revenue stream over life of projects for the joint venture

· Dubai Carbon and AFC to engage with Dubai-based clean energy funds to finance projects taken forward

· Significant economic opportunity to monetise not only energy generated from the fuel cell, but also from the sale of water by-product from the catalytic process in ways which has never been monetised before

· Dubai Carbon is owned by Emirates National Oil Company (ENOC), Dubai Electricity and Water (DEWA) and Dubai Aluminium Company (DUBAL)

This landmark deal again reaffirms AFC's transition to a global energy company working in collaboration with some of Dubai's leading companies. Dubai Carbon and AFC will initially assess the potential for deployment of the fuel cell within projects such as Dubai Expo 2020, The World Development by Nakheel, and major infrastructure projects including Al Maktoum International Airport.

Dubai Carbon and AFC will commence the undertaking of initial pre-feasibility studies across these and other opportunities such that we could see developments commence across the Emirate in the very near future. It is envisaged that once projects are identified for development under the pre-feasibility studies, Dubai Carbon and AFC will form a joint venture to deliver the projects. The joint venture would look to operate the projects and dispatch power and water supply produced from the fuel cell facilities.

The joint venture will work closely with Dubai Electricity and Water Authority (DEWA), Emirates National Oil Company (ENOC) and Dubai Aluminium Company (DUBAL), in assessing these opportunities, and with local funding sources to support the equity and debt financing arrangements for the commercial projects.

Dubai Carbon's and AFC's collaboration under the MOU creates a significant platform for both companies to capitalise on the immediate opportunities for deployment and growth in the hydrogen economy across the UAE.

Mr Adam Bond, AFC's Chief Executive Officer, said: "It is a great privilege to be given the opportunity to work in partnership with several of Dubai's leading and most innovative organisations to deploy AFC's leading alkaline fuel cell technology into Dubai. This MOU not only reflects a landmark day for AFC and its business as it consolidates its fuel cell commercialisation strategy, but also reflects support for HH Sheikh Mohammed bin Rashid Al Maktoum's initiative 'Green Economy for Sustainable Development'; reinforcing the prominent role Dubai plays in driving a cleaner and sustainable economy today, and into the future. I am honoured AFC's fuel cell will play an important part in Dubai's future energy mix with today marking the start of a long and fruitful relationship with Dubai Carbon and the Emirate of Dubai."

Bond added, "At AFC, I set the ambitious target of achieving 1 GW (1,000 MW) of capacity under development by the end of 2020 and this MOU brings us excitingly closer to our target but I would like to stress that we still have a long way to go."

Mr Ivano Iannelli, Dubai Carbon's Chief Executive Officer, said: "In an economy as dynamic as Dubai's, innovative technologies such as fuel cells, have a close fit to numerous activities and realities, with a specific regional relevance. We are looking forward to piloting the commercial readiness and technological effectiveness through the partnership with AFC. "

The agreement was an official part of the DEWA Green Week activities during the 2015 Water, Energy, Technology and Environment Exhibition (WETEX) in Dubai.

Ends

***

For further information, please contact:

AFC Energy plc Adam Bond (Chief Executive Officer)	+44 (0) 20 3697 1209
Zeus Capital Limited - Nominated Adviser and Joint Broker John Treacy, Phil Walker Alex Davies, John Goold	+44 (0) 20 7533 7727
M C Peat & Co LLP - Joint Broker Charlie Peat	+44 (0) 20 7104 2334

Lionsgate Communications - Public Relations Jonathan Charles, Rachel Rigby Laetitia Tregoning	+44 (0) 20 3697 1209 +971 (0) 567 242154

About AFC Energy

AFC Energy plc is in the process of commercialising its proven low-cost alkaline fuel cell system, which converts hydrogen into 'clean' electricity. AFC's key project POWER-UP will demonstrate the world's largest alkaline fuel cell system at Air Products' industrial gas plant in Stade, Germany. The date for the demonstration of the 240kW "KORE" system has been fast tracked to December 2015, representing the final phase of AFC's pre-commercialisation technical development programme and creating the platform for the Company's global commercial fuel cell deployment. AFC has also recently announced the development of projects in Asia and the Middle East. For further information, please visit our website: www.afcenergy.com

About Dubai Carbon

The Dubai Carbon Centre of Excellence was launched by the Dubai Supreme Council of Energy in partnership with the United Nations Development Programme (UNDP) in 2011 as a public-private partnership to fast-track clean energy project development in the last years of the Kyoto Protocol.

The Centre is the first body of its kind in the region and aims to leverage Dubai's economic potential in carbon through the Clean Development Mechanism and other best practices. The DCCE is a key component of the Supreme Council's efforts to develop a sustainable-energy economy for Dubai and plans to offset several million metric tons of carbon annually by selling carbon credits on the international market.

Dubai Carbon conceptualises, manages, executes and monetises greenhouse gas reduction measures. By doing so, it addresses climate change and promotes sustainable development across the region in an economically viable way. The Emirate of Dubai is becoming a low carbon economy and Dubai Carbon is both the enabler and knowledge repository of this process.

[TheSlowLane] [graphic] bloomberg.com

TheSlowLane — 3/13/2015 4:31:44 PM

bloomberg.com

[A.J. Mullen] FuelCell Energy Announces German Government Support for Advancement of Clean and...

A.J. Mullen — 7/22/2014 12:42:59 PM

FuelCell Energy Announces German Government Support for Advancement of Clean and Efficient Fuel Cells With 4.9 Million Euros in Research AwardsFuelCell Energy Solutions, GmbH and Joint-Venture Partner Fraunhofer IKTS to Further Enhance Performance of Stationary Fuel Cell Power Plants

FuelCell Energy, Inc.5 hours ago

DANBURY, Conn., July 22, 2014 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. ( FCEL) a global leader in the design, manufacture, operation and service of ultra-clean, efficient and reliable fuel cell power plants, today announced that its affiliate FuelCell Energy Solutions, GmbH (FCES) has received nearly EURO5 million in awards by Germany's Federal Ministry for Economic Affairs and Energy to support a three year research and development project between FCES and joint venture partner Fraunhofer IKTS. The project targets further enhancements to the Direct FuelCell(R) (DFC(R)) technology by increasing power density and operating life of the fuel cells, leading to lower costs. The research is being performed in Germany by FCES at an existing facility in Ottobrunn and by Fraunhofer IKTS at a facility located in Dresden.

"Fraunhofer IKTS continues to undertake fuel cell research in recognition that the attributes of high efficiency, virtual lack of emissions, low carbon output, and ability to easily site fuel cell plants in populated areas can help address the power generation challenges facing Germany and many other European countries," said Prof. Dr. Alexander Michaelis, Director of Fraunhofer IKTS. "The awards from the Federal Ministry for Economic Affairs and Energy will help expand Germany's existing fuel cell knowledge and assist in advancing the technology towards greater adoption that should support economic development in Germany."

"With the support of various government organizations, strategic partners and private industry, product, performance and system enhancements continue on our proprietary fuel cell technology and are now being performed on three continents; validating the global interest in our power and hydrogen generation solutions that enhance the resiliency of power distribution in an ultra-clean and affordable manner," said Chip Bottone, President and Chief Executive Officer of FuelCell Energy, Inc. and Managing Director of FuelCell Energy Solutions GmbH. "We utilize a common global technology platform so enhancements developed under these awards can support global markets further strengthening the attractiveness of our product offerings."

The research and development program aims to enhance the DFC(R) fuel cell performance by increasing the power output of the fuel cell stack, making the fuel cell power plants even more affordable based on increased power output from the fuel cells and extended operating life for the fuel cell stack. With growing adoption supported by this research program, enhancement of the fuel cell manufacturing in Germany is expected to follow, leading to job creation from manufacturing and the associated supply chain multiplier effect.

Fuel cells electrochemically convert a fuel source into electricity and heat in a highly efficient process that emits virtually no pollutants due to the absence of combustion. Direct FuelCell(R) (DFC(R)) stationary power plants utilize carbonate fuel cell technology and provide continuous baseload power located where the power is used, including both on-site applications and electric grid support. The combination of near-zero pollutants, modest land-use needs, and quiet operating nature of these power plants facilitates locating the power plants in urban locations. The power plants are fuel flexible, capable of operating on natural gas, on-site renewable biogas, or directed biogas.

FCES, with its German manufacturing base, is the sales, manufacturing and service business for the European Served Area for FuelCell Energy, Inc. FCES is a joint venture between Fraunhofer IKTS and FuelCell Energy, Inc.

Founded in 1949, Fraunhofer is Europe's largest application-oriented research organization with an annual research budget of EURO1.8 billion (approximately $2.3 billion) and more than 18,000 staff, primarily scientists and engineers. Fraunhofer has research centers and representative offices in Europe, USA, Asia and the Middle East, and more than 80 research units, including 60 Fraunhofer Institutes, at different locations in Germany. The Fraunhofer IKTS with its staff of 620 highly educated engineers, scientists and technicians is a world leading institute in the field of advanced ceramics for high-tech applications. The primary markets for Fraunhofer IKTS include energy and environmental technology with a focus on fuel cell development and commercialization. Website: www.ikts.fraunhofer.de/en.html.

About FuelCell Energy

Direct FuelCell(R) power plants are generating ultra-clean, efficient and reliable power at more than 50 locations worldwide. With more than 300 megawatts of power generation capacity installed or in backlog, FuelCell Energy is a global leader in providing ultra-clean baseload distributed generation to utilities, industrial operations, universities, municipal water treatment facilities, government installations and other customers around the world. The Company's power plants have generated more than 1.7 billion kilowatt hours of ultra-clean power using a variety of fuels including renewable biogas from wastewater treatment and food processing, as well as clean natural gas. For more information, please visit www.fuelcellenergy.com

See us on YouTube

Direct FuelCell, DFC, DFC/T, DFC-H2 and FuelCell Energy, Inc. are all registered trademarks of FuelCell Energy, Inc. DFC-ERG is a registered trademark jointly owned by Enbridge, Inc. and FuelCell Energy, Inc.

Contact:

FuelCell Energy, Inc.
Kurt Goddard
Vice President Investor Relations
203-830-7494
ir@fce.com
Fraunhofer IKTS
Katrin Schwarz
+49 2553 7720
katrin.schwarz@ikts.fraunhofer.de

[TheSlowLane] First large order for AFC Energy: AFC Energy Signs Landmark Agreement for Stati...

TheSlowLane — 7/17/2014 5:03:40 AM

First large order for AFC Energy:

AFC Energy Signs Landmark Agreement for Stationary Fuel Cell Systems in South Korea

Breakthrough deal, supported by a leading Korean investment bank, is expected to be worth $3.75m, increasing up to $15m upon satisfactory completion of the first phase

SURREY, United Kingdom--(BUSINESS WIRE)--

AFC Energy plc, (“AFC Energy”, “AFC” or “the Company”), the industrial fuel cell power company, is pleased to announce that it has entered into a Heads of Agreement with Daniel Inc., a fuel cell focused power plant owner and development company in South Korea, for an initial 1MW fuel cell system with a follow-on option for a further 3MW project making a total potential sales value of approximately $15 million.

The Company believes this agreement, once ratified with a formal contract, will represent the largest sale in revenue terms by any British fuel cell manufacturer in South Korea for a stationary system in an industrial setting. It will also represent the biggest deal won by AFC Energy since its inception in 2006.

The initial 1MW alkaline fuel cell system will be deployed in stages and will include a long term maintenance agreement. Under the terms, a deposit of $1.25 million will become payable to AFC Energy upon signing of the formal contract and supply agreement, before deployment of the system commences. The formal contract will also include the opportunity for a follow-on order for a 3MW system at a second site, depending on performance.

The first system will use a mixture of liquefied natural gas (LNG) and biomass gas as its primary energy source to generate electricity. AFC Energy will install, operate and maintain its low cost fuel cell systems at Daniel Inc’s. site and the project will benefit from South Korea’s clean energy incentive program that focuses on the aggressive deployment of fuel cells by large electricity producers and users.

This project has been facilitated with the assistance of KDB Daewoo Securities (“Daewoo”), South Korea’s leading investment banking firm, acting as introducer for AFC Energy. Daewoo have indicated that going forward they will continue to support the Company in a referral function for other client companies and will receive appropriate compensation.

This agreement is the second major advance made by AFC Energy in South Korea and follows a Memorandum of Understanding announced earlier this week with Chang Shin Chemical Co., for the supply of multiple fuel cell systems with a total potential generating capacity of up to 5MW. In addition, the Company is already executing a Euro 6.1 million EU-backed flagship project, Power-Up, with Air Products at a major chemicals complex in northern Germany. It also has an ongoing strategic project with AkzoNobel at their site in Bitterfeld, Germany.

Ian Williamson, Chief Executive of AFC Energy PLC, said: “This initial agreement represents a tremendous opportunity for AFC Energy and, together with our other commercial-scale projects, is expected to establish a strong foundation to build a truly world class British fuel cell company focusing on industrial, chemical and utility sectors. South Korea is one of the world’s fastest growing fuel cell markets where US companies have traditionally made early inroads due to their long history. After entering this market less than two years ago, we have now established a significant bridgehead with strong partners and believe that this is the first of many more orders to come from this country.”

Nathan Dohyoung Kang, Infra Private Equity team leader at KDB Daewoo Securities, said: “We see huge potential in AFC Energy’s technology and are delighted to help initiate this order in Korea. In the fuel cell space, AFC’s system is the perfect antidote to South Korea’s renewable energy plan. There will be a meaningful impact not only for the government to achieve its non-photovoltaic renewable energy incentive plan but also for all the participants in the project. Many of our other clients have already demonstrated a clear interest in AFC Energy’s fuel cell systems and we look forward to making further introductions of the technology to the region. Our focus to also invest in and develop renewable energy sources will be further strengthened based on our firm relationship with AFC Energy.”

South Korea is one of the Company’s key target markets, where fuel cells are being adopted rapidly by industry and utilities to reduce reliance on imported fossil fuels. According to Kepco, the state-owed Korean electricity utility, the total installed capacity for stationary fuel cell systems is estimated to increase from 306MW at present to approximately 780MW in 2015 and almost double again by 2020. Whereas the country is poor in natural resources, it has an abundance of available hydrogen and syngas that is produced as a byproduct by its large chemicals industry.

Su Hoon Park, CEO of Daniel Inc., said: “AFC Energy will be an important partner for us as we aim to proliferate the fuel cell system in Korea. Upon successful implementation of the 1 and 3MW phase projects, there will be follow up ventures which will be the main ones in our planned portfolio and we are confident to say that AFC’s role would grow along with our expansion.”

About AFC Energy

Founded in 2006, AFC Energy plc is re-engineering proven alkaline fuel cell technology to reduce the cost of electricity. Alkaline fuel cells have been used on US and Russian manned space missions for decades to provide electrical power and drinking water. By using platinum free, advanced materials, design tools and manufacturing processes at scale, AFC Energy is developing fuel cells that will compete with conventional technologies such as turbines for electrical power generation. Today, AFC Energy is pursuing opportunities in several sectors where hydrogen is readily available including the chlorine, clean coal and waste-to-energy industries as well as applications for distributed/back-up power. For further information, please visit our website: www.afcenergy.com.

[A.J. Mullen] Fuel Cell Energy wins an order to build and operate another 5.6 MW in Connecticu...

A.J. Mullen — 4/30/2014 10:26:22 AM

Fuel Cell Energy wins an order to build and operate another 5.6 MW in Connecticut.

bloomberg.com

[TheSlowLane] Found this on a UK site: "Fuel cell stocks have historically disappointed and d...

TheSlowLane — 3/7/2014 5:35:51 AM

Found this on a UK site:

"Fuel cell stocks have historically disappointed and developed a deserved ‘jam tomorrow’ reputation amongst the investment communities on both sides of the Atlantic. Plug Power’s Walmart order is a flagship indicator that the situation is changing and the jam is finally starting to arrive. The change in investor perception of the sector across the Atlantic is yet to be reflected in UK share prices and is a point worth noting. Our two picks amongst AIM listed peers are ITM Power* (ITM.L) – (“ITM”) and AFC Energy (AFC.L) – (“AFC”).

ITM - has fully commercial rapid-response electrolysis hardware at the early stages of penetrating two global growth markets in power-to-gas for large scale storage of intermittent renewables and hydrogen fuelling infrastructure. We anticipate that a substantial order equivalent to the Walmart order for Plug Power, could well happen for ITM within twelve months.

AFC - is nearing commercial reality and in our view has the most compelling fuel-cell technology of all, due to its low materials and processing cost, its design for volume production and its modularity. Industrial energy production from waste hydrogen is an astute first target market as the barriers to entry are naturally low compared with consumer markets.

Conclusion: The surge in US fuel-cell and electrolyser stocks indicates that the jam has eventually started to arrive and UK peers could well follow suit."

[A.J. Mullen] Fuel Cell (FCEL) has announced it is increasing its float by up to 15%, pricing ...

A.J. Mullen — 1/17/2014 10:28:04 AM

Fuel Cell (FCEL) has announced it is increasing its float by up to 15%, pricing the shares at a 25% discount to the price this week. As a result the open market has fallen 17%. 247wallst.com. They announced the 'public offering' overnight, and filled it overnight.

I am seriously bummed. My position had just moved into the black. I dollar-cost averaged on the way down so I have a substantial position in the stock. Back in the red now.

[A.J. Mullen] FuelCell Energy Completes 14.9 Megawatt Fuel Cell Park on Schedule for Dominion,...

A.J. Mullen — 1/3/2014 12:10:32 PM

FuelCell Energy Completes 14.9 Megawatt Fuel Cell Park on Schedule for Dominion, the Project OwnerContinuous Renewable Power Delivered in an Environmentally Friendly Manner That Enhances the Resiliency of the Electric Grid

FuelCell Energy, Inc.December 27, 2013 9:00 AM

DANBURY, Conn., Dec. 27, 2013 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. ( FCEL), a global leader in the design, manufacture, operation and service of ultra-clean, efficient and reliable fuel cell power plants, today announced the completion of the 14.9 megawatt (MW) Bridgeport fuel cell park and acceptance by Dominion (NYSE:D), the project owner. The project was completed on schedule and power is being delivered to the electric grid under a 15 year energy purchase agreement with a Connecticut electric utility. The installation consists of five fuel cell power plants and an organic rankine cycle turbine for added output and further efficiency gains, with the power output adequate to power approximately 15,000 average size U.S. homes.

"Dominion is pleased to be adding 15 megawatts of additional renewable energy in Connecticut to our existing 2,100 megawatts of carbon-free power from our Millstone Power Station," said David A. Christian, Dominion Generation chief executive officer. "These stations are generating clean, reliable electricity for Connecticut."

"The beginning of operations for the Bridgeport Fuel Cell Power Park represents an important milestone on the path toward Governor Malloy's vision of a cheaper, cleaner, and more reliable energy future for Connecticut's residents and businesses," said Connecticut Department of Energy and Environmental Protection Commissioner Daniel Esty. "This project highlights Connecticut's new approach to clean energy, which focuses on using limited ratepayer dollars to leverage private capital and to get the greatest possible ratepayer benefit per dollar of public funds expended."

"The commencement of commercial operation by delivering electricity to the electric grid is a major milestone for a Project that is bringing international recognition to the City of Bridgeport and highlighting the capability of utility-scale fuel cell parks," said Bridgeport Connecticut Mayor Bill Finch. "This event marks the completion of a unique and successful public/private development effort, and the delivery of electricity is a key element of the City's BGreen 2020 initiative as we work to make Bridgeport the cleanest and greenest City in the region."

"We met our commitments, delivering a turn-key multi-unit fuel cell park on schedule and in less than a year," said Chip Bottone, President & Chief Executive Officer, FuelCell Energy, Inc. "Our team developed the project, manufactured the fuel cell power plants, performed engineering, procurement and construction services, and now that the plants are operational, FuelCell Energy will operate and maintain the fuel cell park for Dominion during the 15 year term of the energy purchase agreement."

The project is located on a remediated brownfield site in an industrial area of Bridgeport, Connecticut, using only about 1 1/2 acres of land to provide 14.9 MW of baseload renewable power. The City benefits with clean distributed power generation and is receiving tax revenue from what was a vacant lot. The community benefits with ultra-clean power generation that is created locally, enhancing power reliability. The State of Connecticut benefits with tax revenue from a variety of sources, job creation in the State, and progress towards the State's renewable portfolio standard.

Multi-megawatt fuel cell parks solve power generation challenges for utilities as the combination of near-zero pollutants, modest land-use needs, and the quiet operating nature of fuel cell power plants facilitates their siting in urban locations. Fuel cell parks offer a multitude of advantages for utilities and neighboring communities, including:

Environmentally friendly power generation with virtually zero nitrogen oxide (NOx) that causes smog, sulfur dioxide (SOx) that contributes to acid rain, or particulate matter (PM10) that aggravates asthma, and the power is delivered with a low carbon footprintDistributed power generation places power near where it is used, enhancing the resiliency of the gridHighly efficient power generation process that is economicalContinuous renewable power around the clock that is not reliant on weather or time of dayDominion is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 23,500 megawatts of generation, 11,000 miles of natural gas transmission, gathering and storage pipeline and 6,400 miles of electric transmission lines. Dominion operates one of the nation's largest natural gas storage systems with 947 billion cubic feet of storage capacity and serves retail energy customers in 15 states. For more information about Dominion, visit the company's website at www.dom.com.

About FuelCell Energy

Direct FuelCell(R) power plants are generating ultra-clean, efficient and reliable power at more than 50 locations worldwide. With more than 300 megawatts of power generation capacity installed or in backlog, FuelCell Energy is a global leader in providing ultra-clean baseload distributed generation to utilities, industrial operations, universities, municipal water treatment facilities, government installations and other customers around the world. The Company's power plants have generated more than two billion kilowatt hours of ultra-clean power using a variety of fuels including renewable biogas from wastewater treatment and food processing, as well as clean natural gas. For more information, please visit www.fuelcellenergy.com

See us on YouTube

Direct FuelCell, DFC, DFC/T, DFC-H2 and FuelCell Energy, Inc. are all registered trademarks of FuelCell Energy, Inc. DFC-ERG is a registered trademark jointly owned by Enbridge, Inc. and FuelCell Energy, Inc.

Contact:
FuelCell Energy, Inc.
Kurt Goddard, Vice President Investor Relations
203-830-7494
ir@fce.com

[A.J. Mullen] FuelCell Energy Announces Two Billion Kilowatt Hours of Environmentally Friendly...

A.J. Mullen — 12/11/2013 9:28:39 AM

FuelCell Energy Announces Two Billion Kilowatt Hours of Environmentally Friendly and Efficient Fuel Cell Power GenerationMajor Operating Milestone Reached From Growing Installed Base of Ultra-Clean, Efficient and Reliable Fuel Cell Power Plants

FuelCell Energy, Inc.Dec 10, 2013 8:30 AM

DANBURY, Conn., Dec. 10, 2013 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. ( FCEL), a global leader in the design, manufacture, operation and service of ultra-clean, efficient and reliable fuel cell power plants, today announced a significant operating milestone with the generation of two billion kilowatt hours (kWh) of ultra-clean and renewable electricity produced by Direct FuelCell(R) (DFC)(R) power plants since the first commercial installation in 2003.

"This is a noteworthy achievement highlighting the growing installed base of our clean and efficient power generation solutions that provide continuous power to the electric grid or on-site for large power users that value enhanced energy security and power reliability," said Chip Bottone, President & Chief Executive Officer, FuelCell Energy, Inc.

Two billion kWh of electricity is adequate to power more than 181,000 average size U.S. homes for one year. With more than 110 DFC plants producing environmentally friendly power and usable high quality heat at more than 50 locations globally, DFC plants are eliminating the emission of a significant level of pollutants and substantially reducing carbon emissions compared to the average U.S. fossil-fuel power plant.

Two billion kWh of ultra-clean fuel cell power production configured in a combined heat & power mode (CHP) benefits public health and helps FuelCell Energy customers achieve sustainability goals by virtually eliminating criteria pollutants including nitrogen oxide (NOx) that causes smog, sulfur dioxide (SOx) that contributes to acid rain, and particulate matter (PM10) that aggravates asthma. Compared to the average U.S. fossil-fuel power plant, this level of fuel cell power generation avoided the emission of approximately 16,900 tons of these criteria pollutants as well as approximately 1,068,000 tons of carbon dioxide (CO2), a greenhouse gas, which is equivalent to removing more than 499,000 passenger vehicles from the road.

"We installed our first commercial fuel cell plant in 2003 and announced one billion kilowatt hours of ultra-clean power production in January 2011, which is a time span of eight years," continued Mr. Bottone. "We generated the second billion kilowatt hours in just under two years and the next billion is expected to be generated in less than one year as a 15 megawatt fuel cell park is nearing completion in Bridgeport, Connecticut and a 59 megawatt fuel cell park, the world's largest, is nearing completion in South Korea."

Fuel cells electrochemically convert a fuel source into electricity and heat in a highly efficient process that emits virtually no pollutants due to the absence of combustion. The stationary fuel cell power plants manufactured by FuelCell Energy are fuel flexible, capable of operating on clean natural gas, on-site renewable biogas, or directed biogas. The power plants provide continuous baseload power and can be sited where the power is used, including both on-site applications and electric grid support. The combination of near-zero pollutants, modest land-use needs, and quiet operating nature facilitates locating the fuel cell power plants in urban locations and even within occupied buildings.

About FuelCell Energy

Direct FuelCell(R) power plants are generating ultra-clean, efficient and reliable power at more than 50 locations worldwide. With more than 300 megawatts of power generation capacity installed or in backlog, FuelCell Energy is a global leader in providing ultra-clean baseload distributed generation to utilities, industrial operations, universities, municipal water treatment facilities, government installations and other customers around the world. The Company's power plants have generated more than 2 billion kilowatt hours of ultra-clean power using a variety of fuels including renewable biogas from wastewater treatment and food processing, as well as clean natural gas. For more information, please visit www.fuelcellenergy.com
See us on YouTube

Direct FuelCell, DFC, DFC/T, DFC-H2 and FuelCell Energy, Inc. are all registered trademarks of FuelCell Energy, Inc. DFC-ERG is a registered trademark jointly owned by Enbridge, Inc. and FuelCell Energy, Inc.

Contact:

FuelCell Energy, Inc.
Kurt Goddard, Vice President Investor Relations
203-830-7494
ir@fce.com

[TheSlowLane] Foster Wheeler completes successful KORE review AFC Energy, the industrial fue...

TheSlowLane — 12/11/2013 8:59:57 AM

Foster Wheeler completes successful KORE review

AFC Energy, the industrial fuel cell power company, is pleased to announce that Foster Wheeler, the global engineering company, has completed its initial review of AFC Energy's first commercial fuel cell platform, KORE, building on the work started in April 2013.

KORE will be the first commercial-grade 250 kW fuel cell module developed by AFC Energy to generate electricity from surplus hydrogen at stationary industrial locations including chemicals and waste-to-energy plants.

As part of the partnership, Foster Wheeler has facilitated the Hazard and Operability Study(HAZOP) for the KORE system. Successful completion of this review enables AFC Energy to proceed with the detailed design, construction and delivery of the first KORE module that will act as the initial platform for the fuel cell installations, including the €6.1 million EU-backed Power Up project in Stade, northern Germany where AFC is partnered with Air Products.

More: investegate.co.uk

[TheSlowLane] Innomech secure role in £4.9m energy plan Published : 18 Nov 2013 8:08 am by C...

TheSlowLane — 11/18/2013 5:20:29 AM

Innomech secure role in £4.9m energy plan

Published : 18 Nov 2013 8:08 am by Callum Bentley
Company Announcements | Automation

Innomech’s automation equipment will be used to assemble fuel cell stacks for one of the world’s largest alkaline fuel cell power systems that is being installed at Air Products industrial gas processing plant in Stade, Germany. the company’s hydrogen production plant in Rotterdam, The Netherlands (pictured) was opened in February 2012.
UK automation company Innomech has been appointed to develop automated manufacturing equipment to assemble fuel cell stacks for AFC Energy’s £4.9 million EU backed Power Up programme.

The appointment is part of a €6.1 million (£4.9m) EU development grant that will enable AFC Energy and the Power Up consortium to develop and install commercial-scale energy generation plants using hydrogen as a fuel source.

The work includes the development of automated equipment to dismantle stacks at the end of their working life, allowing key components and materials to be recycled and reused.

One of the first clean energy plants will be located at Air Products’ industrial gas processing facility at Stade, northern Germany. The first of two KORE systems is due to be installed in 2014 and the plant will generate a total of 500 kW electrical output when fully operational.

Immotech commercial director Tim Mead said; “Innomech has always been committed to minimising the environmental impact of its own business so we are delighted to be involved in such a high profile, clean energy project.”

- See more at: themanufacturer.com

[A.J. Mullen] 9:13AM FuelCell Energy announces market development updates in Asia for efficien...

A.J. Mullen — 10/24/2013 10:47:49 AM

9:13AM FuelCell Energy announces market development updates in Asia for efficient and environmentally friendly fuel cell power generation; construction started for South Korean fuel cell manufacturing facility ( FCEL) 1.33 : Co announced a series of updates with its South Korean partner, POSCO Energy, including the start of construction for the South Korean fuel cell manufacturing facility, growing demand for multi-megawatt fuel cell installations, and the execution of a master service agreement for installations in Asia. Industrial engineering enhancements at the FuelCell Energy production facility in North America increased total production capacity to 100 megawatts annually and these enhancements will be incorporated into the South Korean production process, accounting for the increased production capacity compared to previously stated figure of 70 MW annually.

finance.yahoo.com

[TheSlowLane] AFC Energy, The Fuel Cell Developer Backed By Abramovich, Hails 12 Months Of Con...

TheSlowLane — 9/2/2013 4:00:26 PM

AFC Energy, The Fuel Cell Developer Backed By Abramovich, Hails 12 Months Of Continuous Power Output In Key Test Of Commercial Readiness
By Amy McLellan

AIM-quoted fuel cell developer AFC Energy passed a key milestone last month as it delivered 12 months of continuous electrical power from its breakthrough low-cost alkaline fuel cell electrode. The electrode, housed in the company's labs in Surrey, has now been operational for more than 8,760 hours, underscoring its robustness and readiness for commercialisation. The next step – and as anyone following these clean tech companies is only too aware, it's a big step - is to replicate this longevity outside the lab in real world conditions

Longevity is important because all fuel cells - devices which convert oxygen (from the air) and hydrogen (from a supply) into electrical energy and heat with water as the only waste product - eventually deteriorate and need to be replaced. The longer a fuel cell lasts, the fewer will be required over the life time of a project, ensuring the end power can be sold at a competitive price. AFC's chief executive Ian Williamson says he is confident the company will be able to translate this 12 month milestone into future commercial contracts.

Alkaline fuel cells are not a new technology – they have been used in the US and Russian space programmes over many decades - but it is only in recent years that companies have been able to lower the costs and improve power output to make them a viable power source and a credible alternative to other renewable energies like wind turbines. One of the key ways the AFC solution beats its fuel cell competitors - and this is a sector littered with corporate losses and disasters – is because it is a low temperature solution.

An alkaline fuel cell operates at low temperatures (70 degrees centigrade) which means the company can use plastic and non specialist materials rather than using expensive platinum. This keeps costs down, as does a substantially reduced number of components in the simplified design, ensuring long life and easy maintenance. The company has also worked hard to adapt proven volume manufacturing processes to further reduce costs, another key marker of commercial readiness.

The electrode, the component that enables the electrochemical reactions between hydrogen and oxygen in the air to generate electricity, heat and water, has already been validated for volume manufacturing as part of AFC's first 250 kW commercial-grade fuel cell system. And, importantly, the power output of the unit is rising, up by 60 per cent over the past year. The company's technical director Gene Lewis now says he believes AFC has developed “a disruptive low cost technology that can shake up the entire fuel cell industry in the next few years."

So how do you get from a lab proven electrode to first commercial contract? It helps that AFC has some key partnerships in place. Its technology has been undergoing trials with chemicals giant Azko Noble and it also has global contractor Foster Wheeler on board to peer review the designs and concepts for the large scale 250kW systems. The hope is this partnership will develop into a preferred partner relationship where Foster Wheeler will design and install full-scale fuel systems, based on AFC Energy technology, in a wide range of industrial and utility-scale applications.

Also helpful is the fact that fuel cells attract grants and fiscal support from governments and organisations looking for a transitional clean energy technology until such time as renewables are ready to carry the load. The company is participating in a UK-based commercial scale demonstration project, Power Up, backed by a four-year €6.1 million EU grant to build the world's largest alkaline fuel cell system in the UK. In February 2013 AFC delivered the first fuel cell electricity generating system to chemicals giant ICL's chlor-alkali plant in Essex.

The fuel system will supply small quantities of power to the chemicals works, using waste hydrogen, produced as a by-product at the chemicals works, as fuel to generate clean energy. The project will ramp up in phases to eventually provide up to 1MW of clean, efficient electricity generation at point of consumption, reducing reliance on grid-supplied electricity by up to 20 per cent.

A further €1.96 million EU grant is helping with the Alkammonia project designed to develop ammonia-fed alkaline fuel cells (ammonia is a rich source of readily available hydrogen). This came on the back of the December 2012 acquisition of Diverse Energy, a company with a proven track record in delivering ammonia fed fuel cell systems into markets such as the mobile phone mast power market. The use of different feedstocks, like ammonia, will also be studied in a recent link-up with Lancaster University.

In the meantime the company is in talks with a number of potential customers about its first commercial order. South Korea is seen as a key market not only because of the generous incentives under the country's Renewable Portfolio Standard but also because it has a surplus of hydrogen production, although the longer term goal is to deliver a fuel cell that's economic without any support.

The AIM-quoted company's income over the first half of 2013 came from its EU grants and also from its agreement with Waste2Tricity: in April 2012, W2T agreed a phased £1 million payment in return for an exclusive UK licence for AFC’s fuel cell technology for use in gasification WtE projects and right of first refusal for the supply of fuel cells to Europe, North America and Thailand for use in projects where hydrogen is derived from the gasification of municipal solid waste. AFC recorded a post-tac loss of £2.34 million for the first six months of 2013, deeper than the £1.9 million for the prior year period as costs rose to reflect increased activity and strengthening of its inhouse capabilities and developing the Korean market.
While new technology companies also face the funding equivalent of the “valley of death” until they land first commercial orders, AFC has been through the worst and in the past year has attracted some heavyweight strategic investors, among them Roman Abramovich's Ervington Investments, which injected £8.67 million in November 2012 and now holds 11.13 per cent of the shares. Eugene Shvidler, another Russian oil billionaire and Abramovich's partner at Sibneft, holds a 5.4 per cent stake. Shares in AFC are trading at 41.5 pence, up 73 per cent on year ago levels.

[Can Do Stocks 2] SJML Suja Minerals Executes a MOA to Acquire 100% of Global Energy Innovation...

Can Do Stocks 2 — 7/30/2013 1:52:10 PM

SJML Suja Minerals Executes a MOA to Acquire 100% of Global Energy Innovations Inc. and Will Change Name to GEI Global Energy Corp. Fuel cell Reverse merger play...

[TheSlowLane] Fuel cell achieves major milestone with 12 months longevity 29 July 2013 AFC E...

TheSlowLane — 7/27/2013 4:35:30 PM

Fuel cell achieves major milestone with 12 months longevity

29 July 2013

AFC Energy (AIM: AFC), the fuel cell energy developer for industry, is pleased to announce that its revolutionary low-cost, platinum-free fuel cell electrode has set a new Company longevity and endurance record by delivering continuous electrical power for 12 months.

The Company’s laboratory electrode passed this milestone late last week after remaining operational beyond 8760 hours at its state-of-the-art facility in Dunsfold, Surrey, UK.

The design and materials used in this electrode have already been validated for volume manufacturing and incorporation into AFC’s first 250kW commercial-grade fuel cell system, which has been given the generic name ‘Kore’ by the Dunsfold team.

This latest milestone increases confidence in the Company’s ability to commercialise its fuel cell power generation systems in major industrial markets and its potential to achieve high returns in countries such as Korea, where fuel cells attract a high level of incentives and where AFC is actively pursuing new partners.

Ian Williamson, chief executive of AFC Energy, commented: “We have proven the robustness of our world class fuel cell technology for industrial and stationary applications with the aim of making it competitive with both renewable and fossil fuel technologies. The next steps are to replicate this 12 month longevity in real world environments, continue improving our electrode power output and introduce our ‘Kore’ large scale systems. I am confident that we are already well placed to advance our ongoing dialogue with existing and potential new partners to translate today’s news into future commercial contracts.”

AFC Energy has focussed on lowering the cost of fuel cell derived energy by extending fuel cell longevity, improving power output, developing low cost materials and by adapting proven volume manufacturing processes for its fuel cell production. This achievement goes hand-in-hand with the improvements the Company is seeing in power output from its technology, an area where AFC Energy has already made great strides with a 60% increase over the past year.

The experience and information gained from this success has immediately been applied to the Company’s trials with its longstanding partner, Azko Nobel, one of the world’s largest chemicals groups and a UK-based commercial scale demonstration project, Power Up, which is supported by the European Union.

Dr. Gene Lewis, Technical Director at AFC Energy, commented: “It is a proud moment for the technical team in achieving this milestone, which demonstrates the potential of our technology and the rapid progress being made to commercialise it. I firmly believe we have a disruptive low cost technology that can shake up the entire fuel cell industry in the next few years.”
Electrodes are the critical components of a fuel cell which enable the electrochemical reactions to occur between hydrogen and oxygen (from air) to generate electricity, heat and water.

[TheSlowLane] CPI reports strong progress with commercialisation strategy AFC Energy, the in...

TheSlowLane — 7/18/2013 11:16:55 AM

CPI reports strong progress with commercialisation strategy

AFC Energy, the industrial fuel cell power company, has received a further positive independent review of its progress by the Centre for Process Innovation ("CPI"), which concludes that the Company is making strong progress towards the commercialisation of its technology.

The CPI report is the second independent endorsement AFC Energy has received in as many weeks following the prestigious award received last week for 'Best Scientific Paper' at the European PEFC & H2 Forum, Europe's most respected Fuel Cell event.

AFC Energy commissioned the CPI, an independent UK government technology research organisation, in 2008 to carry out periodic progress reviews to provide an arm's length assessment of the Company's progress, and advice and support to the management team. The previous review was carried out in August 2012.

Key findings in the latest review by the CPI's Dr Jon Helliwell, project manager of Fuel Cell Applications, concluded that "an enormous amount has been achieved in a relatively short time" and that AFC has made "strong progress" in "all areas of its activities" including:

· Establishment of "a fundamental cell and system design" to provide a simple, robust, and easy to manufacture platform upon which to base its large power systems.
· Development of significant relationships with Ervington Investments and Foster Wheeler to improve its commercial prospects.
· "Very encouraging" commercial activity including a strong collaborative research and development portfolio and investigation of opportunities in the Korean market.
· The assembly of a highly integrated team, with "the correct structure and calibre of people", to give the Company "even sharper focus on the commercialisation of its technology".

Dr Helliwell concluded that AFC Energy had demonstrated that it would "deliver its systems successfully to the market."

AFC Energy provided Dr Helliwell with complete, unrestricted, access to all areas of the Company and its staff and he was able to examine each in detail. The report focussed on four key areas of activity aimed at the commercialisation of its technology.

A version of the full CPI report, edited to remove confidential technical details, will be made available on the Company's website later today.

Ian Williamson, Chief Executive Officer of AFC Energy, said: "I am delighted that our work over the past year has withstood the scrutiny of the CPI's rigorous progress review and passed with flying colours. As the CPI acknowledges, there have not been many dramatic changes as the parameters of our system are now established. We continue to put in a great deal of effort and focus on ensuring we have both the commercial opportunities and the manufacturing capacity we need to succeed. It is encouraging to receive this independent endorsement that we are on the right track."

[Can Do Stocks 2] Breakthrough tech, geiglobal.com keep a scan open for them... They figured how ...

Can Do Stocks 2 — 7/18/2013 10:14:44 AM

Breakthrough tech, geiglobal.com keep a scan open for them...
They figured how to do fuel cells in a modular design. Lower cost, mass produced, scalable...
It's gonna Be Real Big in my opinion...

[TheSlowLane] Europe Fuel Cell Technology Market Will Grow From an Estimated $150.4 Million in...

TheSlowLane — 6/27/2013 5:14:52 AM

Europe Fuel Cell Technology Market Will Grow From an Estimated $150.4 Million in 2013 to $613.7 Million by 2018, at a CAGR of 32.5%

On account of hydrogen & fuel cell technology infrastructure development for storage & distribution, the fuel cell market will experience a tremendous increase in demand in the years to come.

tmcnet.com

[TheSlowLane] Oh I sleep, just at the wrong times! ;^)

TheSlowLane — 5/9/2013 2:44:52 PM

[Eva] You can, t sleep either, :)

Eva — 5/9/2013 5:20:41 AM

[TheSlowLane] Hydrogen fuel cells may be verging on commercializationAFC Energy, a leading dev...

TheSlowLane — 5/9/2013 5:03:19 AM

Hydrogen fuel cells may be verging on commercialization AFC Energy, a leading developer of hydrogen fuel cells, is moving closer to achieving its goal of commercialization. The fuel cell industry has long pursued commercialization but this goal has been somewhat elusive over the years due to the costs associated with fuel cells and general lack of interest in many markets. AFC Energy is one of the few companies in the fuel cell industry that is on the verge of achieving commercialization and this progress has taken a significant amount of innovation and aggression in the market.

hydrogenfuelnews.com

[TheSlowLane] AFC Energy loans assets to Lancaster University 14 March 2013 Key equipment mo...

TheSlowLane — 3/15/2013 6:14:43 AM

AFC Energy loans assets to Lancaster University

14 March 2013

Key equipment moved to initiate technical development for industrial applications

AFC Energy (AIM: AFC), the industrial fuel cell power company, is pleased to announce that it has made the first delivery of equipment to the engineering department at Lancaster University to facilitate their new alkaline fuel cell research and development programme.

In January 2013, AFC Energy and Lancaster, a highly ranked research intensive university, previously announced their intention to undertake research and testing together to better understand how alkaline fuel cells operate using an array of different hydrogen feed-stocks.

This initial equipment loaned to the university comprises state-of-the-art material processing and catalyst characterisation equipment. Fundamental research that will be undertaken using this equipment will help AFC to exploit its world-leading technology.

Dr Gene Lewis, Technical Director, said: “This is the first step to creating a strong technical partnership with Lancaster University. A principle philosophy at AFC is to add significant value to materials using industry accepted high volume/low cost production processes. The equipment we have loaned to Lancaster will enable them to work in tandem with the team at AFC and further develop these materials/processes to maximise the potential of our proprietary technology. AFC has a long standing and excellent relationship with members of Lancaster’s engineering department and we are excited about taking this relationship to the next level.”

Dr Richard Dawson commented: “Bringing state of the art equipment and expertise to the University to support our new activities in fuel cell research is a significant part of our relationship with AFC Energy. This is a great opportunity for our students and researchers to work with equipment which is employed within a cutting edge industry.”

[TheSlowLane] AFC Energy (AIM: AFC), the industrial fuel cell power company, is pleased to an...

TheSlowLane — 2/25/2013 7:01:45 AM

AFC Energy (AIM: AFC), the industrial fuel cell power company, is pleased to announce that it has delivered the first fuel cell electricity generating system to Industrial Chemicals Limited (“ICL”), a leading UK commodity chemicals producer.

The shipment is in advance of a 1MW commercial-scale project signed with ICL last year to install the world’s largest alkaline fuel cell energy generation system at ICL’s chlor-alkali plant in Essex, UK. The project is being supported with a European Union grant of Euro 6.1m (£4.9m), from this April.

afcenergy.com

[TheSlowLane] [graphic] pikeresearch.com Edit - Here is a chart from the report: [graphic]

TheSlowLane — 1/29/2013 6:59:09 AM

pikeresearch.com

Edit - Here is a chart from the report:

[TheSlowLane] AFC Energy extends fuel cell electrode life beyond six months uk.advfn.com

TheSlowLane — 1/24/2013 7:42:07 AM

[TheSlowLane] Seems like an idea whose time has come...again. Sometimes it takes longer for t...

TheSlowLane — 1/22/2013 3:12:02 PM

Seems like an idea whose time has come...again. Sometimes it takes longer for these technologies to commercialize then one would think. That is my impression of the industry anyway. I am just keeping tabs on it for now a bit and have no investments in the sector.

[Stephen O] There is sure a lot happening in the Fuel Cell world. I personally like FCEL.

Stephen O — 1/22/2013 1:24:31 PM

[TheSlowLane] The Fuel Cell Industry Review 2012 ecolateral.org

TheSlowLane — 1/21/2013 6:59:08 PM

[TheSlowLane] Hydrogen fuel cell presentation: [youtube video]

TheSlowLane — 12/29/2012 5:49:13 AM

[TheSlowLane] The article below is more representative of what AFC Energy is doing. Roman Abr...

TheSlowLane — 12/29/2012 5:22:25 AM

The article below is more representative of what AFC Energy is doing. Roman Abramovich has taken a serious interest in the sector as evidenced by the three investments he made recently in AFC Energy / Alter NRG / Waste2Tricity. Ian W., who runs AFC used to run the hydrogen business for Air Products. Air Products is constructing a 1000 tpd MSW plasma gasification facility in Tees Valley and has announced plans to build a second one of the same scale on an adjacent plot. APD is funding the first $400MM plant internally. APD and AFC are considering Tees Valley for an AFC fuel cell facility. AFC claims that fuel cells can increase efficiency by 65-70%. So instead of powering 50,000 homes, the TV-1 plant could potentially power up to 80,000 homes with no additional feedstock required.

Up to Euro 6 million grant award for UK’s largest fuel cell energy facility

November 7, 2012

AFC Energy (AIM: AFC), the industrial fuel cell power company, and Industrial Chemicals Limited (“ICL”) are pleased to announce that they have received notification that they have been awarded a European Union grant of up to Euro 6 million (£4.9 million) for the installation of the world’s largest alkaline fuel cell energy generation system at ICL’s chlor-alkaline chemical plant in Essex, UK.

The award is being funded by the Fuel Cells and Hydrogen Joint Undertaking (FCH-JU), through the EU’s Seventh Framework Programme (FP7). It will provide AFC Energy and ICL and their European project partners with more than four years’ financial support for the project, which was first announced on 25 June 2012. The grant is subject to final negotiation and, subject to agreement, is expected to be in place to enable the project to commence during Spring 2013. If concluded satisfactorily, AFC Energy will coordinate the project and expects its direct share of the project funding to be up to Euro 3 million (£2.45 million) with the balance to be received by the other project partners.

More:
afcenergy.com

[A.J. Mullen] I have difficulty in believing that ammonia would be allowed inside city downtow...

A.J. Mullen — 12/28/2012 11:50:36 PM

I have difficulty in believing that ammonia would be allowed inside city downtowns.

Why? Gasoline, natural gas, propane, methane, and butane are allowed within city limits.

[TheSlowLane] My interest in AFC Energy is related to the hydrogen FC work they are doing with...

TheSlowLane — 12/28/2012 5:15:33 PM

My interest in AFC Energy is related to the hydrogen FC work they are doing with Alter NRG, a company based in Calgary which also got a large investment from RA and friends (large for the recipient, not for RA, LOL).

[TheSlowLane] The ammonia-fed fuel cells are probably targeted for special applications like r...

TheSlowLane — 12/28/2012 4:19:33 PM

The ammonia-fed fuel cells are probably targeted for special applications like remote locations (cell tower stations).

[Stephen O] I have difficulty in believing that ammonia would be allowed inside city downtow...

Stephen O — 12/28/2012 3:57:41 PM

I have difficulty in believing that ammonia would be allowed inside city downtowns. See FCEL's 2 installations in London England.

[TheSlowLane] Article on fuel cells... Abramovich-backed company gets EU funding to develop c...

TheSlowLane — 12/25/2012 6:59:37 AM

Article on fuel cells...

Abramovich-backed company gets EU funding to develop cheaper fuel cells

Published : 17 Dec 2012 3:25 pm by Tom Moore

The funding could see factories made more mobile.

Fuel cell developer AFC Energy has been awarded a £1.5m grant from the European Union to fund the creation of cheaper fuel cells.

The grant will finance its project to develop alkaline fuel cells that can be fed with ammonia for three years, beginning in March 2013.

AFC Energy, which received a £8.6m investment from Russian billionaire Roman Abramovich in October, will coordinate the project and receive a £500,000 share of the project funding with the rest of the balance shared between the other project partners.

The key to the wide deployment of AFC Energy’s systems will be its ability to be used with many different energy sources.

More:

themanufacturer.com