AFC Energy was incorporated in January 2006 to purchase certain intellectual property and assets relating to alkaline fuel cell technology from Eneco Limited. The Company raised £2.4 million to fund its initial working capital requirements and, in April 2007, completed its IPO and admission to AIM, raising c. £3 million from ordinary shares. AFC Energy is now the world’s leading developer of low-cost alkaline fuel cell technology. Focused on large-scale industrial applications, the technology is fully-scalable to provide clean electricity on-demand. The fuel cell has the potential to be the catalyst which transforms the way in which industries of today produce energy for tomorrow.