WHIreland completes £31.6m fundraise for AFC Energy plc

WHIreland are proud to have acted as Nomad and Joint Broker for AIM listed AFC Energy plc on their over-subscribed equity fundraise of £31.6 million.

AFC Energy is a leading developer of alkaline fuel cells which use hydrogen to generate electrical power, without any carbon dioxide or particulate emissions. The company intends to use the funds to scale up their manufacturing capabilities to meet projected customer demand over the next two years. The funds will also allow the firm to accelerate development of a ground breaking solid-state fuel cell system by 2022.

Jasper Berry, Managing Director, Corporate Broking, commented: “The hydrogen economy is set to become one of the cornerstones of the UK Government’s Green Economy alongside wind and solar. We are delighted to have helped AFC raise the money to be at the forefront of the hydrogen economy.”