AFC Energy signs fire prevention deal for alkaline fuel cells
AFC Energy (LON:AFC) , the AIM quoted cleantech group behind the development of alkaline fuel cells, has signed a binding Heads of Terms agreement with German company N2telligence GmbH over the use of alkaline fuel cells for fire protection. N2telligence has developed a system of using nitrogen rich exhaust air from fuel cells as a means of reducing the risk of fire in the likes of data centres, archives and museums. Under the terms of the agreement the two sides will work together on an exclusive basis, whereby AFC will only supply the exhaust air from its alkaline fuel cell systems to N2telligence for fire protection and low oxygen environments and N2telligence will only source alkaline fuel cell exhaust air from AFC’s alkaline fuel cell systems for fire protection and low oxygen environments.
N2telligence has licensed patents from Airbus in order to develop fire protection systems that create low oxygen environments. One of the company’s systems creates a low oxygen environment in a room reducing it from approximately 21% to 15%. At this level the air is still breathable but an open fire cannot spread. Both parties believe that as this method of fire protection becomes more widespread it is likely to be actively supported by insurance companies and could be reflected in lower insurance premiums for those that adopt it.
Ian Balchin, the deputy chairman of AFC, said: “The innovation at N2telligence opens up another avenue for AFC Energy’s fuel cells. Our alkaline fuel cell is being developed as a method of generating cost effective, clean electricity at up to 60% electrical efficiency. It also produces water and heat, now there are applications for the exhaust air and through N2telligence all of these have a commercial value.
Shares in AFC leapt from 17p to 75p last October on news that the company’s fuel cell technology had been chosen as a key component in a clean coal proposal for a project based in the North East of England. That move was part of an ongoing partnership between AFC, B9 Coal Ltd and Linc Energy (ASX:LNC), which together are proposing to build the first large scale demonstration of alkaline fuel cell technology in a carbon capture and storage (CCS) project. Later that month, Linc Energy contributed £3 million as part of an overall £4 million share placing by AFC and exercised its option to extend in perpetuity its worldwide exclusive rights to use 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. The AFC share price rose by 1.25p to 53.75p today.
Filed Under: Alternative Energy,
but do you know where to look?
Get the most concise synopsis of everything that's been proven to work in value investing. If you like your stocks cheap you've found a treasure trove distilled to under 70 pages.
- How to find ultimate Bargain Stocks with Ben Graham
- How to spot Turnarounds and avoid Value Traps
- From Graham to Greenblatt via Piotroski & Lakonishok
- How to value stocks and set a margin of safety
Disclaimer:
As per our Terms of Use, Stockopedia is a financial news & data site, discussion forum and content aggregator. Our site should be used for educational & informational purposes only. We do not provide investment advice, recommendations or views as to whether an investment or strategy is suited to the investment needs of a specific individual. You should make your own decisions and seek independent professional advice before doing so. Remember: Shares can go down as well as up. Past performance is not a guide to future performance & investors may not get back the amount invested.
AFC Energy plc is engaged in the development of fuel cells. It operates in three principal geographic segments: the United Kingdom, Germany and Australia. It is a developer of alkaline fuel cell technology focused on industrial application and the technology provides electricity on-demand. Its Alkaline AFC Energy non-platinum operates in an operating temperature at 70 degree Celsius, has an electrical efficiency ranging between 55-60% and is used as industrial stationary. Its Alkaline Traditional platinum operates in an operating temperature at 70 degree Celsius, has an electrical efficiency of 60% and is used in space and military operations. Its Molten Carbonate operates in an operating temperature ranging between 600 to 700 degree Celsius, has an electrical efficiency ranging between 45-47% and is used in utility and distributed generation sectors. The Solid Oxide system operates in an operating temperature ranging between 600 to 1000 degree Celsius and is used in auxiliary power. more »
Alternative Energy Limited is engaged in dealing with household and industrial clean energy. The principal activity of the Company is the provision of technology, hardware and equipment for renewable energy and green energy solutions. It also makes investments and/or acquisitions in and to develop energy technologies, businesses and companies, which offer an alternative to fossil fuel and nuclear methods of generating household and industrial energy, as well as performing management services (including marketing and other necessary services) for its subsidiaries. It has developed a combination light emitting diode bulb and solar power lighting system, which enables municipalities and highway authorities to provide lighting. The Company’s wholly owned subsidiary, Renewable Power Pte Ltd is engaged in the research and development of renewable energies for household companies, and Alternative Energy Technology Pte Ltd is engaged in holding of trademarks and intellectual properties. more »
