News

September 26, 2008

The Problems At Acta And AFC Energy Add To Growing Investor Disillusionment With The Fuel Cell Sector

By Ivor Watt

Most UK investors appear to have all but given up on the array of fuel cell companies listed on Aim, but the few who haven’t yet given up are having their patience well and truly tested as yet more bad news percolates into the sector and knocks confidence.

This time it’s the turn of two of the less heralded players, AFC Energy and Acta, to suffer. Despite being lower profile than many other fuel cell players, AFC did seem to well ahead of the pack in commercialising its fuel cell technology, after it struck upon a pragmatic business plan and won a potentially significant contract with Akzo Nobel.

AFC decided not to worry about making its fuel cells small enough to fit into consumer products, and instead identified the chlorine industry, one of...