REG - AFC Energy Plc - Operational Update

AFC EnergyAnnouncement

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RNS Number : 6478P  AFC Energy Plc  21 January 2026

AFC Energy Plc

21 January 2026

AFC Energy Plc

("AFC Energy" or the "Company")

Operational Update

AFC Energy Plc (AIM: AFC), a leading provider of ammonia-based low carbon
hydrogen production and hydrogen-to-power solutions at a commercially viable
price point, is pleased to announce the completion of the first build  of our
new generation LC30 30kW liquid-cooled fuel cell generator (the "LC30
Generator") which is now undergoing operational testing and producing power in
accordance with its design specification.

John Wilson, CEO of AFC Energy Plc, commented:

"10 months ago, we set out our ambitious plan to redevelop the core
architecture of our fuel cell generators to reduce cost by 66% and drive
towards cost parity with diesel.  I am delighted that we have surpassed our
target and have delivered our first next generation LC30 Generator on schedule
and below our original budget.  We look forward to working with our customers
to roll out deployments and achieve regulatory approval through our enhanced
channel network that we are further strengthening. We remain well-positioned
to convert our pipeline of opportunities into contractual orders, deliver
sustainable revenue growth without the need for government subsidies and
create significant shareholder value."

In order to drive market adoption and support AFC Energy's volume growth
plans, the LC30 Generator benefits from significant advantages compared to the
previous, air-cooled model, including:

·     The manufacturing cost is c.85% lower.

·    Substantially smaller footprint, enabling deployments in locations in
which space is at a premium, with a greater than 50% mass reduction and 45%
reduced volume.

·     The LC30 Generator is up to 20% more efficient and consists of 95%
fewer components.

·    With an increased operating range from -20°C to +50°C (compared
with -5°C to +40°C for the previous generator) it is suitable for deployment
globally across all inhabited continents.

·   The LC30 Generator is also designed to accommodate a 100kW fuel cell in
the same chassis, where customer requirements demand a larger power output,
and will progress to certification and pre-production, supported by our
manufacturing partner, Volex plc.

 

For further information, please contact:

 

 AFC Energy Plc                                                 +44 (0) 14 8327 6726

 John Wilson (Chief Executive Officer)                          investors@afcenergy.com (mailto:investors@afcenergy.com)

 Karl Bostock (Chief Financial Officer)

 Peel Hunt LLP - Nominated Adviser and Joint Broker             +44 (0) 207 418 8900

 Richard Crichton / Georgia Langoulant / Emily Bhasin

 Zeus - Joint Broker                                            +44 (0) 203 829 5000

 David Foreman / James Hornigold (Investment Banking)

 Dominic King (Corporate Broking) / Rupert Woolfenden (Sales)

 DGA Group - Financial PR and Communications Advisors           +44 (0) 7747 113 930

 James Benjamin / James Styles                                  +44 (0) 7510 385 554

                                                                afcenergy@dgagroup.com (mailto:afcenergy@dgagroup.com)

About AFC Energy

 

AFC Energy plc is a leading provider of ammonia-based low carbon hydrogen
production and hydrogen-to-power solutions. Our market-leading decentralised
ammonia cracker and fuel cell generator products are engineered to unlock the
low carbon hydrogen market by meeting customers' needs with scalable, reliable
supplies of low carbon hydrogen and power. AFC Energy is enabling customers to
decarbonise at a price that is commercially viable.

 

We are focused on the successful commercial rollout of our core product suite
and on creating significant shareholder value by converting our growing
opportunity pipeline into contracted orders and delivering sustained revenue
growth. Our core strategy is to develop and deploy products that enable the
production of scalable, reliable supplies of clean hydrogen at commercially
viable prices and without reliance on government subsidies or incentives. AFC
Energy achieves this through our proprietary, decentralised and modular
ammonia cracker technology, and providing low carbon, off‑grid power
solutions with our fuel cell generators that are competitive with, and capable
of displacing, diesel generators on a total cost of ownership basis.

 

The Group's modular, decentralised ammonia cracker systems have production
capacities of approximately 0.5 and 4 tonnes of hydrogen per day respectively.
These enable the generation of scaled volumes of low carbon hydrogen at the
point of use within a highly compact footprint. Our systems have the potential
to drive substantial revenue growth across a wide range of addressable
markets, including hard‑to‑abate industrial facilities, transportation and
power generation applications.

 

AFC Energy's fuel cell generator systems are currently offered with generation
capacities of 30kW and 200kW. They are well-suited to off‑grid,
decentralised and temporary power applications, including the displacement of
diesel generators on construction and infrastructure sites. Further use cases
include electric vehicle charging for cars, buses and trucks, as well as
charging of battery‑powered non‑road machinery, with additional emerging
opportunities in maritime, data centre and rail applications.

 

AFC Energy is listed on the AIM market of the London Stock Exchange and
headquartered in Dunsfold, Surrey, UK.

 

Please read more on our website https://www.afcenergy.com/
(https://www.afcenergy.com/) and follow us on LinkedIn
(https://www.linkedin.com/company/afc-energy/)

 

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