LONDON (Alliance News) - Gas-to-liquids technology company Velocys PLC on Wednesday said it has appointed David Pummell as its new chief executive with immediate effect.
Pummel joins from his role as chief executive of ACAL Energy, a private-equity backed fuel cell technology company. Prior to that, he was chief executive officer of MAPS Technology Ltd, which was acquired by the US's General Electric Co and CEO of Ceres Power Group PLC, a developer of fuel cell micro-combined heat and power products for the domestic market.
Roy Lipski, Velocys' former chief executive, left the company in August by mutual consent.
"The board is delighted to welcome David as Velocys' new CEO to lead the company during its commercial phase. His extensive experience, complementary skill set and outstanding track record of commercialising technologies means that he is ideally positioned to drive forward the company's next phase of growth," said Velocys Chairman Pierre Jungels.
Shares in Velocys were down 3.7% to 39.50 pence early Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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