- AFC Energy
- 13 June 2025 15:40:20
Source: Sharecast
The AIM-traded clean energy company said the cost savings significantly exceeded previous targets, and positioned its hydrogen systems to compete with diesel generation on price.
It said the improvements were expected to support broader adoption of AFC’s technology, especially when paired with its hydrogen production capabilities.
At the same time, AFC said it had signed a supply agreement for custom fuel cell systems to meet anticipated demand and is advancing plans for volume manufacturing.
The company said it was also working towards a global strategic manufacturing partnership with integrated manufacturing specialist Volex.
AFC said the planned partnership would support its growth ambitions by enabling further cost reductions through materials leverage and economies of scale.
“As previously announced, our strategy is to deliver commercial viability of the hydrogen economy, without reliance on Government subsidy,” said chief executive officer John Wilson.
“In April, alongside our results, we announced an aggressive plan to target a significant reduction of the cost of our 30kW hydrogen fuel cell generators to drive market adoption.
“I'm delighted that this ambition has been fulfilled, with an expected c.85% reduction, and we target mid-2026 for delivery of our first low cost generators.”
At 1513 BST, shares in AFC Energy were down 6.16% at 16.2p.
Reporting by Josh White for Sharecast.com.