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H-Power plc engages in the development of ammonia-based low carbon hydrogen production and hydrogen-to-power solutions in the United Kingdom. It operates through Sales of fuel cell generators and Rental segments. The company provides an H-Power Tower, an S series fuel cell generators; and L series fuel cell generators. It is also developing an H-power generator " S series fuel cell, a modular compact; H-power generator S+ series fuel cell diesel generator alternative; ammonia cracker, a technology to convert ammonia into hydrogen; and a methanol fuel tower, a technology solution for conversion of carrier fuel methanol into hydrogen. In addition, the company provides various support solutions, including the supply of hydrogen, ammonia or methanol; consultation on fuel consumption and logistics requirements; arranging the sourcing, supply, and delivery of the fuel of choice; consultation or supply of on-site fuel storage; consultation and design of the full power solution based on the application; arrangements to supply, deliver, and connect battery energy storage technology; technical integration of technologies, such as battery, fuel cell, fuel conversion, and fuel storage; monitoring and optimization for the full system; on-site installation, commissioning, and decommissioning; on call maintenance from field support team; and operating guidelines and on-site briefing services. It offers products for use in various applications, such as maritime, construction, data centers, outdoor events, EV charging, and rail sectors. The company was formerly known as AFC Energy plc and changed its name to H-Power plc in May 2026. The company was incorporated in 2006 and is based in Cranleigh, the United Kingdom.
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| Breakdown | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 |
| Income before tax | -25.47M | -19.31M | -19.56M | -19.49M | -10.44M |
| Net income | -22.21M | -17.42M | -17.48M | -16.45M | -9.38M |
| Selling general administrative | 3.08M | 2.83M | 2.37M | 2.75M | 1.12M |
| Selling and marketing expenses | - | - | 7.54M | - | - |
| Gross profit | -4.34M | -1.87M | -0.07M | 0.12M | 0.02M |
| Reconciled depreciation | 4.25M | 2.59M | 1.66M | 1.85M | 0.89M |
| Ebit | -25.78M | -19.27M | -19.49M | -19.45M | -10.40M |
| Ebitda | -21.53M | -16.67M | -17.83M | -17.60M | -9.51M |
| Depreciation and amortization | 4.25M | 2.59M | 1.66M | 1.85M | 0.89M |
| Operating income | -25.78M | -19.57M | -20.02M | -19.61M | -10.41M |
| Other operating expenses | 25.91M | 23.57M | 20.25M | 20.19M | 11.00M |
| Interest expense | 0.04M | 0.04M | 0.07M | 0.04M | 0.04M |
| Tax provision | -3.26M | -1.89M | -2.09M | -3.04M | -1.06M |
| Interest income | 0.21M | 0.32M | 0.51M | 0.14M | 0.02M |
| Net interest income | 0.17M | 0.26M | 0.44M | 0.10M | -0.03M |
| Income tax expense | -3.26M | -1.89M | -2.09M | -3.04M | -1.06M |
| Total revenue | 0.13M | 4.00M | 0.23M | 0.58M | 0.59M |
| Total operating expenses | 21.44M | 17.70M | 19.95M | 19.73M | 10.42M |
| Cost of revenue | 4.47M | 5.87M | 0.29M | 0.47M | 0.58M |
| Total other income expense net | 0.31M | 0.26M | 0.46M | 0.12M | -0.03M |
| Net income from continuing ops | -22.20M | -17.42M | -17.48M | -16.45M | -9.38M |
| Net income applicable to common shares | - | - | - | -16.45M | -9.38M |
| Breakdown | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 |
| Total assets | 42.48M | 36.57M | 36.24M | 50.68M | 63.14M |
| Intangible assets | 8.74M | 4.63M | 0.26M | 0.31M | 0.75M |
| Other current assets | 0.94M | 4.01M | 3.47M | 0.61M | 0.61M |
| Total liab | 6.05M | 6.30M | 5.15M | 4.94M | 3.26M |
| Total stockholder equity | 36.42M | 30.27M | 31.09M | 45.74M | 59.89M |
| Deferred long term liab | - | - | - | - | 0.16M |
| Other current liab | 1.55M | 3.35M | 1.37M | 3.20M | 1.34M |
| Common stock | 1.13M | 0.85M | 0.75M | 0.73M | 0.73M |
| Capital stock | 1.13M | 0.85M | 0.75M | 0.73M | 0.73M |
| Retained earnings | -130.93M | -108.77M | -91.96M | -75.56M | -59.75M |
| Other liab | - | - | - | 0.30M | 0.65M |
| Other assets | - | - | - | - | 0.16M |
| Cash | 14.33M | 15.37M | 27.37M | 40.22M | 55.38M |
| Total current liabilities | 5.93M | 5.68M | 4.21M | 3.94M | 2.02M |
| Current deferred revenue | 3.60M | - | 1.42M | - | 1.13M |
| Net debt | -14.17M | -14.71M | -26.24M | -39.22M | -54.47M |
| Short term debt | 0.14M | 0.51M | 0.48M | 0.30M | 0.32M |
| Short long term debt | 0.06M | 0.00M | - | - | - |
| Short long term debt total | 0.16M | 0.66M | 1.12M | 1.00M | 0.91M |
| Other stockholder equity | 159.16M | 133.56M | 118.52M | 120.56M | 118.90M |
| Property plant equipment | - | - | - | 4.26M | 3.15M |
| Total current assets | 30.42M | 26.01M | 31.12M | 46.11M | 59.24M |
| Net tangible assets | - | - | - | 45.43M | 59.30M |
| Short term investments | 11.01M | - | - | - | - |
| Net receivables | 4.15M | 4.68M | 0.11M | 0.14M | 2.26M |
| Long term debt | 0.06M | 0.00M | - | - | - |
| Inventory | 0.00M | 1.95M | 0.18M | 0.04M | 0.66M |
| Accounts payable | 0.65M | 1.83M | 0.93M | 0.45M | 0.35M |
| Accumulated other comprehensive income | 7.06M | 4.63M | 3.78M | - | - |
| Non currrent assets other | - | 0.62M | 0.26M | - | - |
| Non current assets total | 12.05M | 10.56M | 5.12M | 4.57M | 3.90M |
| Capital lease obligations | 0.16M | 0.66M | 1.12M | 1.00M | 0.91M |
| Breakdown | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 |
| Investments | -11.00M | -7.70M | -1.24M | -2.57M | -1.88M |
| Change to liabilities | - | - | - | 2.49M | 0.46M |
| Total cashflows from investing activities | -15.02M | -7.70M | -1.24M | -2.57M | -1.88M |
| Net borrowings | - | - | - | -0.38M | -0.29M |
| Total cash from financing activities | 25.38M | 14.62M | 1.53M | 0.20M | 34.76M |
| Change to operating activities | - | - | - | -0.35M | 0.01M |
| Net income | -22.21M | -19.31M | -17.48M | -19.49M | -10.44M |
| Change in cash | -1.18M | -11.99M | -12.85M | -15.15M | 24.07M |
| Begin period cash flow | 15.51M | 27.37M | 40.22M | 55.38M | 31.30M |
| End period cash flow | 14.33M | 15.37M | 27.37M | 40.22M | 55.38M |
| Total cash from operating activities | -11.85M | -18.91M | -13.14M | -12.78M | -8.81M |
| Issuance of capital stock | 27.48M | 16.02M | 2.04M | 0.04M | 36.44M |
| Depreciation | 4.25M | 2.59M | 1.66M | 1.85M | 0.89M |
| Other cashflows from investing activities | -9.14M | -4.13M | 0.36M | 0.15M | 0.02M |
| Change to inventory | -0.63M | -1.77M | -0.14M | 0.62M | -0.41M |
| Change to account receivables | 3.48M | -5.51M | -0.11M | -0.14M | -0.49M |
| Other cashflows from financing activities | -0.40M | -0.88M | -0.52M | 0.16M | -1.68M |
| Change to netincome | - | - | - | -0.80M | 0.11M |
| Capital expenditures | 0.72M | 7.39M | 1.67M | 2.72M | 1.90M |
| Change in working capital | 1.17M | -5.84M | 0.23M | 2.07M | -0.43M |
| Stock based compensation | 2.00M | 1.46M | 0.78M | 1.68M | 1.15M |
| Other non cash items | 4.94M | 2.19M | 1.66M | 1.11M | 0.02M |
| Free cash flow | -12.58M | -26.31M | -14.81M | -15.50M | -10.70M |
Sector: Industrials Industry: Electrical Equipment & Parts
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| AFGYF AFC Energy plc |
-0.00 3.80% |
0.10 | - | - | 440.88 | 3.72 | 273.63 | -8.90 |
| CYATY Contemporary Amperex Technology Co., Limited |
-0.39 3.19% |
11.83 | 36.64 | 32.15 | 0.91 | 7.88 | 3.67 | 16.91 |
| ABBNY ABB Ltd |
-0.68 0.80% |
83.98 | 38.41 | 30.96 | 5.22 | 10.79 | 5.24 | 24.44 |
| ABLZF ABB Ltd |
- -% |
84.15 | 33.82 | 23.15 | 4.71 | 10.45 | 4.77 | 22.47 |
| BE Bloom Energy Corp |
-12.13 5.79% |
197.34 | 332.50 | 53.48 | 24.54 | 46.97 | 24.35 | 216.72 |
H-Power plc engages in the development of ammonia-based low carbon hydrogen production and hydrogen-to-power solutions in the United Kingdom. It operates through Sales of fuel cell generators and Rental segments. The company provides an H-Power Tower, an S series fuel cell generators; and L series fuel cell generators. It is also developing an H-power generator " S series fuel cell, a modular compact; H-power generator S+ series fuel cell diesel generator alternative; ammonia cracker, a technology to convert ammonia into hydrogen; and a methanol fuel tower, a technology solution for conversion of carrier fuel methanol into hydrogen. In addition, the company provides various support solutions, including the supply of hydrogen, ammonia or methanol; consultation on fuel consumption and logistics requirements; arranging the sourcing, supply, and delivery of the fuel of choice; consultation or supply of on-site fuel storage; consultation and design of the full power solution based on the application; arrangements to supply, deliver, and connect battery energy storage technology; technical integration of technologies, such as battery, fuel cell, fuel conversion, and fuel storage; monitoring and optimization for the full system; on-site installation, commissioning, and decommissioning; on call maintenance from field support team; and operating guidelines and on-site briefing services. It offers products for use in various applications, such as maritime, construction, data centers, outdoor events, EV charging, and rail sectors. The company was formerly known as AFC Energy plc and changed its name to H-Power plc in May 2026. The company was incorporated in 2006 and is based in Cranleigh, the United Kingdom.
| Name | Title | Year Born |
|---|---|---|
| Mr. Adam Steven Bond | CEO & Exec. Director | 1976 |
| Mr. James Hay Gibson | COO & Exec. Director | 1967 |
| Mr. Peter John Dixon-Clarke ACA | CFO & Director | 1966 |
| Dr. David B. Harvey | Chief Technology Officer | NA |
| Mr. Iain Thomson | Head of Communications & Stakeholder Management | NA |
| Dr. Michael Rendall | Chief Engineer & Product Officer | NA |
| Mr. Mark Bailey | Chief Commercial Officer | NA |
| Mr. John Frederick Wilson B.Sc | CEO & Executive Director | 1976 |
| Karl Robert Bostock | CFO & Executive Director | 1977 |
| Dr. David B. Harvey Ph.D. | Chief Technology Officer | NA |
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