AFC Energy jumps on German plant approval

AFC Energy jumped over 16% on Thursday after the fuel cell group was given approval for the next stage of its plans to build an industrial alkaline fuel cell facility at its plant at Stade in Germany.

The London-listed company said it expected the plant, which will be the world’s largest alkaline fuel cell plant and will use AFC’s KORE technology, to become operative by the end of 2015.

The group said it was the first time a regulatory authority had assessed its industrial plant design, adding that the Stade project required approval at various stages, including construction, operating and power dispatch.

“We are grateful for the close collaboration AFC has had with the consenting agencies in Stade and hope this constructive and professional relationship continues,” said group chief executive Adam Bond.

AFC shares were up 16.49% to 24.90p at 10:10 on Thursday.