Interim report
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21/12/2023 , 12:43 RNS Number : 7689C AFC Energy Plc 23 June 2021 The information contained within this announcement is deemed by the company to constitute inside information as stipulated under the EU market abuse regulation ( 596/2014 ) . 23 June 2021 AFC Energy ( AIM : AFC ) , a leading provider of hydrogen power generation technologies , is pleased to announce its interim results for the half year ended 30 April 2021. Highlights of those results are as follows . Commercial and Financial Highlights O Three new world class partners , strengthening global route to market : O Half - year Report O AFC Energy plc ( " AFC " or the " Company " ) Interim Results ABB : high power EV charging infrastructure / data centres ; Altaaqa Alternative Solutions : zero emission power solutions in Saudi Arabia and the Middle East & North Africa regions ( MENA ) ; Mace : hydrogen fuelled generators for construction sites . Current book of over 50 qualified fuel cell deployment enquiries - the majority of which represent multiple order potential . Revenue of £ 0.15 million ( HY 2020 : £ nil ) from initial recognition of Extreme E commercial revenue following completion of first race ; under IFRS , additional Extreme E revenue to be recognised on completion of remaining races . Strategic investment from ABB and Dutco cornerstoning an oversubscribed fundraise of £ 36m in April . Operating Highlights Stronger half year cash balance of £ 61.6m ( HY 2020 : £ 2.8m ) with investment in product development and increased headcount resulting in an increased loss for the period of £ 3.3m ( HY 2020 : £ 1.8m ) . Successfully delivered first commercial fuel cell power system to Extreme E. Technology Highlights BK Gulf appointed as mass producer of fuel cell system balance of plant in Dubai . Executive team strengthened following recruitment of Dr David Harvey ( Chief Technology Officer ) , Dr Mike Rendall ( Chief Engineer and Product Officer ) and Mark Bailey ( Chief Commercial Officer ) in 2021 . Close Supplied by © EUROLAND.com Terms of Service | Cookie Policy https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=3926239&lang=en-GB&companycode=uk-afc&v=r2023 1/19