AFC Energy drops as losses grow
AFC Energy, the alkaline fuel cell company, has fallen 4% after revealing that its losses are growing.
AFC Energy, the alkaline fuel cell company, has fallen 4% after revealing that its losses are growing.
The company says asset write downs, increased R&D spend and consultancy costs have contributed to the operating loss growing from £3,051,768 in 2010 to £4,390,192 in 2011.
The company argues its fuel cell technology, which is a re-engineering of the systems that keep the lights on during US and Russian space missions, is gaining worldwide acceptance.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
It was awarded a €405,000 grant from the European Union to carry on its research which aims at producing fuel cells that will compete with orthodox technologies like turbines.
The question facing AFC, though, is how its solutions will find their way to market.
Shares had fallen 4% by 10.24. Over the last 12 months the stock has dropped 51%.
BS
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published