AFC Energy PLC
LSE:AFC

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AFC Energy PLC Logo
AFC Energy PLC
LSE:AFC
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Price: 11.48 GBX 6.3% Market Closed
Market Cap: 129.9m GBX

AFC Energy PLC
Investor Relations

AFC Energy Plc engages in the development of fuel cells. The firm operates through development of fuel cells segment. The Company’s products include HydroX-Cell(L), HydroX-Cell(S) and AlkaMem. The HydroX-Cell(L) product offers alkaline fuel cell module designed to support industry’s transition to a zero-emission carbon footprint. The HydroX-Cell(L) product offer over three standard configurations, including HydroX-Cell (L20), HydroX-Cell (L160) and HydroX-Cell (L400+). The HydroX-Cell(S) product is a hydrogen power generation technology. The AlkaMem Anionic Exchange Membrane (AEM) offers a membrane technology for sale or licensing into ancillary market applications. Its applications include alkaline water electrolysis, alkaline fuel cells, fuel synthesis, electrodialysis, desalination, acid remediation, salt water batteries and REDOX flow batteries.

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AFC
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Last Earnings Call
Fiscal Period
Q4 2024
Call Date
Mar 20, 2025
AI Summary
Q4 2024

Revenue Growth: Equipment sales jumped to GBP 4 million in FY '24 from GBP 400,000 the prior year, mainly from sales to the Speedy Hire joint venture.

Cash Position: AFC ended the year with GBP 15.4 million in cash, with a stated cash burn rate of GBP 1 million per month and projected runway for 12 months.

Cost Reduction Pause: The company has paused further rollout of generators until it achieves a targeted 66% reduction in manufacturing costs, aiming for cost parity with diesel.

Strategic Shift: Management highlighted a pivot from a technology-led to a market-led, product-focused strategy, emphasizing commercial delivery over pure R&D.

Hyamtec and Hy-5 Launch: The Hy-5 portable cracking module was launched at a disruptive GBP 10/kg hydrogen price, far below the current GBP 65/kg.

Funding & Outlook: GBP 3.7 million in UK grant funding is secured for FY '25, and management expects additional cash inflows from JV receivables and R&D tax credits.

Shareholder Value Focus: Management repeatedly stressed execution and commercial delivery as the key to restoring share price and avoiding a dilutive fundraise at current levels.

Key Financials
Equipment Sales
GBP 4 million
Grant Funding Received
GBP 0.5 million
Development Costs Capitalized
GBP 4.4 million
Year-End Cash
GBP 15.4 million
Net Loss
GBP 17.4 million
Cash Burn Rate
GBP 1 million per month
Capital Raise
GBP 15.8 million
Manufacturing Cost per H-Power Generator
GBP 350,000
Hy-5 Hydrogen Price
GBP 10 per kilo
Current Hydrogen Price
GBP 65 per kilo
Earnings Call Recording
Other Earnings Calls
2024

Management

Mr. Gary Bruce Bullard B.Sc
Interim CEO & Executive Chairman
No Bio Available
Mr. Peter John Dixon-Clarke ACA
CFO & Executive Director
No Bio Available
Dr. David B. Harvey
Chief Technology Officer
No Bio Available
Dr. Michael Rendall
Chief Technology Officer of Hydrogen Processing Division
No Bio Available
Mr. Brendan James Keane
Company Secretary
No Bio Available

Contacts

Address
Cranleigh
Unit 71.4 Dunsfold Park, Stovolds Hill, Surrey
Contacts
+441483276726.0
www.afcenergy.com