Why look at the LC30 now

H-Power, the hydrogen technology group formerly known as AFC Energy, issued no regulatory announcements on 3 November 2026; its latest filing was a total voting rights notice on 30 October showing 1,137,367,223 shares in issue. (LSE:HPOW) Recent attention has focused on its HY5 ammonia cracker. This article looks instead at the company's second product, the LC30 30kW fuel cell generator, and at what the company has disclosed about turning it into sales.

The company makes two products: crackers that release hydrogen from ammonia close to where it is used, and generators that convert hydrogen into off-grid electricity. (LSE:HPOW) The LC30 sits in the second category and is pitched at construction and infrastructure sites that currently rely on diesel generators.

The certification milestone

On 26 August 2026 H-Power announced that the LC30 had received an Attestation of Conformity from TÜV SÜD, the German certification body, confirming it meets the safety and performance standards required for issue of the CE Mark. (LSE:HPOW) The company described CE marking as a prerequisite for commercial sales in Europe and said it is also recognised in the UK and other markets. Management said the attestation arrived in August as previously scheduled.

The timing matters because the largest LC30 order disclosed so far was conditional on it. (LSE:HPOW) In the interim results for the six months to 30 April 2026, H-Power reported a replenishment order from Speedy Hire for 15 LC30 units for the Speedy Hydrogen Solutions joint venture, subject to CE certification. The August announcement stated that the attestation fulfils that requirement.

Orders and trials disclosed so far

Alongside Speedy, H-Power agreed in June 2026 to sell two LC30 units to TAMGO, part of Saudi Arabia's Zahid Group and the company's exclusive fuel cell generator distributor in the Gulf region. Those units are for field trials in Saudi heat, followed by customer trials and demonstrations across Gulf Cooperation Council countries. The company says the LC30 is rated to operate between minus 20 and plus 50 degrees Celsius.

In June management said it aimed to deliver the Speedy and TAMGO units by the end of calendar 2026, and expected the Speedy joint venture to meet or exceed target generator utilisation by October 2026, with pricing at Parity with diesel. We have not seen a subsequent update confirming either outcome.

The financial starting point

Revenue remains small. It reported £253,000 for the half year to 30 April 2026, compared with £17,000 a year earlier, and a loss after tax of £5.8m. Total cash, including short-term investments, was £17.4m at 30 April, with £3.2m of Research and Development tax credits expected in the second half. Cash absorbed by operations fell to £7.5m from £10.7m, while capitalised development spending rose to £4.0m.

On our reading, 17 disclosed LC30 units would not on their own change that Revenue picture materially. Their significance lies more in whether deployment leads to repeat orders through rental and distribution partners.

Risks to the rollout

The LC30 Business depends heavily on a small number of channel partners, particularly Speedy and TAMGO, and the TAMGO arrangement is still at trial stage. Hydrogen fuel cost and availability on site will influence whether customers switch from diesel. Manufacturing scale-up is at an early stage, and delivery slippage would push revenue into later periods. With cash finite and losses continuing, timing matters for funding. The shares closed at 7.77p in the 3 November session, on LSE delayed data.

Dates and signals to watch

H-Power's financial year ends on 31 October, so 2026 full-year results are the next major disclosure point, although we have not verified a date. Investors will likely look for confirmation of LC30 deliveries, Speedy utilisation data, TAMGO trial outcomes and any orders beyond these initial customers.