17th Jul 2025 06:57
AFC Energy PLC - Cranleigh, England-based provider of hydrogen power-generation technologies - After the London market close on Wednesday, AFC launches an equity raise worth up to GBP25 million, as its new leadership focuses on commercialisation of its fuel cell generators and its Hy-5 containerised portable ammonia crackers. The share offer is priced at 10 pence each and will consist of a placing with institutional investors run by Peel Hunt, Zeus, RBC Capital Markets as brokers, a direct subscription of directors, and a retail offer via the RetailBook platform.
The share offer comes as AFC says its pretax loss widens to GBP11.6 million in the six months that ended April 30 from GBP8.3 million a year before. Revenue from customer contracts remains insubstantial at GBP17,000 - all from the hire of a generator - down from GBP408,000 a year before.
"We believe AFC Energy is positioned to be among the first to deliver a commercially viable, zero-emission alternative to diesel generators at scale," comments Chief Executive John Wilson. "In conjunction with our power generators, we are developing our ammonia cracker which will support the adoption of hydrogen across the economy by providing a cost-effective solution to the transport and storage of hydrogen."
The company is focused projects "capable of delivering a pathway to cashflow positivity in the medium term", Wilson says.
Current stock price: 13.74 pence, closed down 8.0% in London on Wednesday
12-month change: down 22%
By Tom Waite, Alliance News editor
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