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AFC Energy, the UK company looking to commercialise alkaline fuel cell production, has invested in a new production facility in Surrey.
The £150,000 outlay on a site at Dunsfold Park will enable the increased production of fuel cells with "full cartridge assembly".
The company is looking to use the new site to support development of its products and, crucially, demonstrate them to potential customers.
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Alkaline fuel cells have previously been used in spacecraft and space stations but AFC wants to make them on an industrial scale.
The Chief Executive, Ian Williamson, said of the move: "The relatively low investment required to establish this facility is further evidence of just how far our approach to low cost manufacturing has come."
AFC shares had risen 6.6% by 10:57 on the news.
BS
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MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
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