Displacing Diesel
AFC Energy PLC Annual General Meeting
25th April 2024
1
Highlights
£27m | £27.4m | £17.5m | 2 Divisions |
Cash At Bank | Loss After Tax | ||
Order book | Fuel Cells | ||
(2022:£40.2m) | (2022:£16.4m) | Fuel Conversion | |
2
Highlights (cont'd)
H-Power Towers | Speedy Hydrogen | Delivery of first 30kW |
Deployed to Unlock | Solutions Incorporated | H-Power Generator |
Market |
3
Highlights (cont'd)
First 200kW S+ Series | TAMGO Distribution | First ACCIONA H-Power |
Generator Nearing | Agreement - Unlocking | Generator Order |
Completion | MENA region |
4
Highlights (cont'd)
- Validation of focus on construction market
- Validation of business model for scaled deployment through rental business/dealers
- Validation of focus on S Series air cooled technology - quicker route to market
- Validation of component supply chain that has already scaled
- Validation of 50% cost reduction (S Series) versus 12 months ago
5
Why Construction Industry Focus?
- "Pain point" that cannot be met by renewables or batteries alone
- Tender requirements require decarbonised solutions
- Emission regulations driving technology choice
- Higher cost, less efficient Stage V diesel generators
- Tier 1 construction companies' ESG shareholder requirements
- Global market potential with global "pain point"
6
HS2 Diesel Free Plan
7
Lower Thames Crossing - Diesel Free
8
Strong Customer Interest
9
Scaling Up - S Series
- Strategy focussed on third party contract manufacturing
- Three key sub-assemblies to H-Power Generators:
- Fuel Cell Stacks: currently working with contract manufacturers
- Fuel Cell Modules: advanced discussions with world class manufacturing group
- Generator Canopy: UK, EU and MENA suppliers under review
- Suppliers selected on ability to deliver 1,000+ generator worth of components
- Scale already delivered >50% cost saving on key components
- Qualification of suppliers reflects large investment of time and resources in 2023
- Positions company for scale
10
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
AFC Energy plc published this content on 25 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2024 13:46:06 UTC.