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Why AFC Energy ?

AFC Energy plc is a leading provider of ammonia-based low carbon hydrogen production and hydrogen-to-power solutions.

Our core strategy is to develop and deploy products that enable the production of scalable, reliable supplies of clean hydrogen at commercially viable prices and without reliance on government subsidies or incentives. AFC Energy achieves this through our proprietary, decentralised and modular ammonia cracker technology, and providing low carbon, off-grid power solutions with our fuel cell generators that are competitive with, and capable of displacing, diesel generators on a total cost of ownership basis.

AFC Energy is focused on the successful commercial rollout of our core product suite and on creating significant shareholder value by converting our growing opportunity pipeline into contracted orders and delivering sustained revenue growth.

Disruptive technology and economics

  • AFC Energy’s differentiated proprietary, compact ammonia cracker systems, (which currently comprise 5 tonnes/day and 4 tonnes/day of hydrogen output modules),

enable modular, scalable point-of-use low-carbon hydrogen production at commercially viable prices, without reliance on government subsidies.

  • From mid-2026, the Company is targeting the provision of hydrogen-as-a-service, with an offer to customers of low-carbon hydrogen at £10/kg. This will position AFC Energy as one of the most cost-competitive low-carbon hydrogen suppliers in the UK.
  • AFC Energy’s ammonia cracker systems use roughly one-sixth of the power per kg of hydrogen produced compared with typical alkaline or PEM electrolysers, directly addressing the UK and Europe’s high-electricity-cost challenge.

Infrastructure and capex-light, scalable deployments

  • AFC Energy’s containerised, portable ammonia crackers avoid the need for costly new renewables build-out, major grid connections or large-scale hydrogen pipelines and
  • On-site hydrogen production with minimal civils enables rapid deployment at customer locations across a broad range of application markets that include hard-to-abate industrial sites, refuelling stations, ports and blending points.
  • Modular, low-capex design of AFC Energy’s ammonia crackers supports incremental

scaling of hydrogen supply in line with demand rather than requiring mega-project FIDs.

Strong validation, partnerships and market access

  • AFC Energy’s ammonia cracker technology was selected by a global S&P 500 industrial for the joint development of a 4 tonne/day ammonia cracker system, after extensive technical, IP, manufacturability and economics due diligence against multiple competitors.
  • The Company’s Joint Ventures with Speedy Hire and Industrial Chemicals Limited provide a route-to-market for the Company’s fuel cell generators and hydrogen, including

low-cost hydrogen production on ICL sites from imported ammonia, which is scheduled to start from mid-2026 (subject to permitting).

  • AFC Energy is actively building supply-chain access to large volumes of low-carbon ammonia from NEOM, Middle East, US Gulf Coast and Australia, aligning with major export projects from 2027–2030.

Turbocharged commercial momentum and execution capability

  • New leadership at AFC Energy (John Wilson as CEO and Karl Bostock as CFO who took the helm of the Company just over a year ago), has refocused the business on the rapid commercialisation of new products – initially comprising a new liquid-cooled 30 kW fuel cell generator (the “S+30”), which benefits from being 85% lower cost and materially smaller and lighted compared to the Company’s previous 30kW fuel cell generator model – and the recently launched “Hy-5”, a 500kg/day containerised ammonia cracker module.
  • AFC Energy has additionally turbo-charged the intensity of its commercialisation focus with the recent recruitment of a Chief Strategy Officer with deep knowledge of hydrogen technologies and application markets (focusing on commercial strategy, supply chain partnerships and customer relationships) and a new Chief Commercial Officer with a long and successful previous career in industrial power and hydrogen equipment sales at ABB and Siemens.
  • An oversubscribed £27.5m fundraise in July 2025 and a targeted organisational restructuring to right-size and right-skill the Company, underpin AFC Energy’s commercially driven growth strategy, and position it as laser-focussed on product delivery and on rapidly accelerating topline growth.