- Hydrogen generation technology group AFC Energy said it had raised £1m via an issue of shares to a single investor.

New shares in the company were offered at 17p each.

AFC Energy said the proceeds would contribute to the manufacture of an electric vehicle charger unit with a nameplate of 160kW to support demonstration and commercial activity in 2020.

The company said it had held conversations with several prospective customers, including fleet operators, councils and retailers.

'These discussions have confirmed interest in our technology and ratified our strategy to introduce 160kW and 480kW units at the earliest opportunities,' it added.

At 1:10pm: [LON:AFC] AFC Energy PLC share price was -1.25p at 20.55p

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