AFC Energy PLC, a provider of hydrogen power generation technologies based in Cranleigh, England, has announced a proposed fundraising initiative to raise approximately £13.5 million. The fundraising will involve the placement of shares and direct subscription with certain directors at a price per share of 15 pence. Additionally, the company intends to offer financing on the 'REX' platform to existing retail investors at the issue price to raise up to £2.0 million. The primary purpose of raising these funds is to support the rollout of initial orders from Speedy Hydrogen Solutions and future TAMGO orders. The investment will also be directed towards acquiring production equipment necessary for scaling up operations, as well as funding commercial development activities and covering corporate overheads. CEO Adam Bond expressed the company's focus on advancing their next-generation H-Power technology platforms and strengthening commercial pathways through partnerships with key customers like Speedy Hire. Bond emphasized the importance of securing funding to expand inventory and accelerate the deployment of H-Power Generators in the field. As of the latest update, AFC Energy PLC's current stock price is 19.18 pence, reflecting a 19% increase over the past 12 months. The company's fundraising efforts signal a positive outlook for its growth and advancement in the hydrogen power generation sector.