AFC Energy plc (AIM: AFC) is engaged in the design and development of alkaline fuel cell systems. The company’s objective is to develop an alkaline fuel system at a significantly lower cost than any other fuel cell system while also achieving high efficiency. Its approach is to take proven technology and re-engineer it to produce a lower cost solution by Ωxploiting characteristics such as low operating temperature and pressure, and to use less expensive materials that lend themselves to volume manufacturing.

The company’s strategy for commercialization is to take the fuel cell system to the hydrogen thereby avoiding issues of hydrogen transport.

It has identified Chlor Alkali producers as the first target market. Initially it expects to sell fuel cell systems to customers but plans to adopt an Energy Supply Company model for future revenues. AFC has partnered with Akzo Nobel, a major international chemicals giant, and the fourth-largest chlor-alkali producer in Europe. It has delivered, installed and tested its first system for AkzoNobel.

An initiating coverage report on the Cleantech sector, covering various Cleantech sectors, including renewable energy, energy efficiency, water and wastewater, clean transportation, waste management and air pollution control. Besides, it includes profiles of 17 companies which are constituents of the FTSE EO UK and AIM indexes.

To read the full free report on the Cleantech sector, which includes a profile of the above company, visit PSQ Analytics.