Risky bet in this global hydrogen fuel cell maker could net investors 160%, says RBC

AFC Energy PLC News

Risky bet in this global hydrogen fuel cell maker could net investors 160%, says RBC
AFC Energy PLCAFC Energy PLCSpeedy Hire PLC
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RBC analyst's price target is the most conservative, as the average of four analysts points to a 282% upside.

Shares of AFC Energy , a provider of hydrogen-fueled power generation technologies, is expected to more than double over the next year, according to RBC Capital. The London-listed company, founded in 2006, makes a range of proprietary hydrogen fuel cell systems aimed at off-grid and remote power generation for construction, mining, and transportation industries.

to sell or lease its zero-emission generators in the Middle East and North Africa region. supplies equipment to Saudi Arabia's mega and large-scale infrastructure and mining projects, including the $500 billion NEOM . While a portion of the capital raised from its newly minted equity is expected to be spent on delivering on its partnership with Speedy Hire, RBC Capital analysts expect a "significant part of that capital raise to be directed to

orders."

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