AFC Energy provided an update on progress on cost optimisation initiatives for its 30kW hydrogen fuel cell generator: Cost reduction of c.85% from current build cost, achieved through adoption of low cost stack technology and value engineering exercise. Supply agreement signed for future supply of fuel cell systems to support demand. Plans well progressed for volume manufacturing, with intention to enter into global strategic partnership with Volex Plc, a leading global integrated manufacturing specialist, to support AFC volume growth plans.
Following the signing of a supply agreement for custom fuel cell systems, in conjunction with an extensive value engineering exercise, AFC Energy has reduced the build cos t of its 30kW hydrogen fuel cell generators by c.85%. This exceeds the Company's target for substantial generator cost reductions and helps to drive adoption of their technology to displace diesel, together with their hydrogen production capability, at cost parity. AFC Energy and Volex Plc are working together with the intention to enter into a global strategic manufacturing partnership to support AFC Energy in driving cost down further through materials leverage and economies of scale.
