AFC Energy slides 6% as investors lock in gains despite upbeat update
Published: 10:32 13 Jun 2025 EDT
Shares in AFC Energy PLC (AIM:AFC, OTC:AFGYF) fell 6% to 820.50p as traders banked profits following a strong run-up ahead of its latest operational update.
The stock had risen 25% in the days leading into the announcement and remains up 44% over the past month.
The dip came despite news of a major cost breakthrough in AFC’s flagship 30kW hydrogen fuel cell generators.
The company reported an 85% reduction in build costs, achieved through new low-cost stack technology and a successful value engineering programme.
The milestone is seen as a key step in making AFC’s zero-emission generators cost-competitive with diesel.
In tandem, AFC signed a supply agreement for future systems to meet growing demand and unveiled plans for a global manufacturing partnership with Volex, the FTSE 250 electronics and power specialist.
The tie-up is designed to support scaling efforts and deliver further cost efficiencies.
The shares fell 1.06p to 16.2p.
