AFC Energy, the British company using technology from space stations to develop alkaline fuel cells, saw a big spike in its share price this morning after announcing a positive independent technology review.
The review, by the quasi-governmental Centre for Process Innovation, gave AFC the thumbs up for demonstrating that its fuel cells could work outside of the laboratory and for separating its manufacturing and development divisions.
The inspector, Dr. Jon Helliwell concluded that: "AFC Energy is highly likely to deliver low cost, modular fuel cell systems to the stationary power industry in accordance with its technology and commercialisation plans".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
Investors initially thought this was a big deal, with the stock gaining up to 6% in early trading. Since then it has fluctuated significantly. At 10.13 it spiked up further, to 32.95p or a gain of 8%.
Over the last year AFC shares have lost 51% of their value. Over the last five years the stock has gained 31%.
BS
-
House price affordability improves, but average first-time buyer still paying five times salaryNationwide has reported a “modest improvement” in house price affordability over the past year, with wages outstripping house price growth, but challenges remain.
-
How to profit from the scramble for metals and mineralsCopper and other metals will be vital in the transition to cleaner technologies and artificial intelligence. Soaring demand is pushing prices up
