AFC Energy (AFC) , a provider of hydrogen power generation technologies, announced a milestone in the development of its modular, scalable ammonia cracker technology.
AFC said its next-generation ammonia cracker successfully achieved 99.99% hydrogen from single reactor testing. Results were independently tested by the UK National Physical Laboratory. The testing confirmed that ammonia levels in the resulting hydrogen stream were materially less than the limits required to meet ISO 14687:2019 standards for vehicular and stationary fuel cells.
AFC's modular technology enables ammonia (NH3) to be "cracked" into discreet hydrogen and nitrogen molecules. The hydrogen can then be consumed as a fuel in fuel cells or combustion, with the nitrogen emitted to the atmosphere (which is 78% nitrogen) with zero carbon emissions. The abovementioned 2019 ISO standards stipulate the maximum level of residual ammonia permitted that is safe to use in fuel cells.
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This is a significant milestone for AFC energy and its proprietary ammonia cracker technology. Meeting the tough ISO standards of hydrogen purity as it relates to ammonia PPB, means the technology can support the refueling of heavy duty cell fuels such as those used in buses and trucks, with ammonia used as an alternative to a network of small-scale electrolysers.
The growing "ammonia to power" market targets stationary and maritime applications that can benefit from ammonia as a sustainable clean fuel. Ammonia is set to play a growing role in delivering on decarbonisation targets due to its high energy density relative to hydrogen gas and potential to displace conventional fossil fuels. Therefore, the technology milestone achieved by AFC is significant as it enables hydrogen to be transported easily by ship in the form of ammonia before being "cracked" back into hydrogen at its target destination.
In summary, clearing the ISO standards puts AFC's proprietary compact, modular, and scalable ammonia cracker technology on the path to full commercialisation. The results from National Physical Lab highlight the technology's ability to deliver full cell-grade hydrogen on a modular basis, while being complimentary to AFC's growing H-Power full cell generator offering. Broker Zeus reiterated its valuation of 100p/share, representing significant potential upside to the current price of 13.80p.
AFC Energy shares gained 5.3% on the announcement.
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