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AFC Energy – new idea, same crap; 'H PowerTM'. SELL

By Peter Brailey | Wednesday 22 January 2020

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

After 12 years and 9 months on the AIM market doing what almost appears to be random things with fuel cells other than burn cash, AFC Energy (AFC) showcased its latest product - the H PowerTM Electric Vehicle (EV) charger - to retail investors back in December. This is clearly delivery of the IPO statement “The Company has a sole focus on producing commercially viable fuel cells”, or perhaps not – over 12 years to achieve no material sales?! Given the lack of success of its prior commercialisation ideas, and more importantly the operating costs associated with its latest ideas, I do not foresee a wonderfully wealthy future for shareholders. In fact I see nothing positive at all...

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