A pilot plant has been commissioned which will produce up to 2MW of fuel cell systems a year. Since AFC does not intend to manufacture systems other than in this limited amount, any additional production would be outsourced.
AFC is also part of B9 Gas’ project to create a natural gas power station that uses fuel cell technology. The technology, which will integrate steam methane reforming with AFC’s alkaline fuel cells, will enable hydrogen to be stored to generate electricity times of during peak demand.
AFC hopes to complete its large scale Beta modular fuel system development in 2011. One of these systems has been reserved by Centrica.
It is difficult to assess whether or not there will be any additional revenues in the second half. AkzoNobel is still testing the system, which enables it to use waste hydrogen from chlorine production. If this proves effective AkzoNobel will probably install the system in other plants, and its rival chlorine producers are also likely to be interested.
Cash will not be a concern for AFC in the short-term. Although there was a £1.37 million outflow from operations and capital expenditure, the company still had £2.68 million in the bank at the end of April 2010, thanks to the £2.01 million net raised at 10p a share last December.
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