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Appointment of new Chief Executive Officer

1 Dec 2014 07:00

RNS Number : 4017Y
AFC Energy Plc
01 December 2014
 

1 December 2014

 

 

AFC Energy PLC

("AFC Energy" or the "Company")

 

 

Appointment of new Chief Executive Officer

 

 

The Board of AFC Energy plc (AFC.L), the industrial fuel cell power company, is pleased to announce the appointment of Adam Bond as Chief Executive Officer, with immediate effect.

 

Adam's appointment recognises the Board's renewed focus for AFC Energy as it transitions from a leading fuel cell research and development company, to a commercial business seeking to capitalise on the immediate opportunities within the emerging hydrogen economy.

 

Adam has been a non-executive director of AFC Energy since May 2012, giving him a unique understanding of the business and its potential in the global hydrogen market. His understanding of the AFC Energy business, coupled with 15 years of experience in the energy sector, most recently in a position responsible for the commercialisation of underground coal gasification technologies with Linc Energy Ltd, make Adam a valuable addition to AFC Energy's executive management team.

 

During Adam's time at Linc Energy, he held positions which include President - European Operations, Vice President - Europe, Middle East and Africa, and as President - Clean Energy where he was responsible for leading a team of industry leading technologists in the commercialisation of the company's underground coal gasification technology. Prior to joining Linc Energy, Adam held positions with the British Government as Project Director for the United Kingdom's first carbon capture and storage programme and was key in the design of the commercial framework for delivery of the United Kingdom's offshore electricity transmission network.

 

Adam Bond, CEO said: "I am delighted to take over as Chief Executive and look forward to leading AFC Energy as it transitions to a significant player in the international energy sector. The business is at an important junction in its evolution and with commercialisation now firmly within sight, I remain confident of AFC Energy's future success in the industry and am excited to be a part of it in this way."

 

Tim Yeo, AFC Energy Non-Executive Chairman, said: "I am delighted that Adam is taking over as Chief Executive at this time to lead the Company through the next phase of its development. His drive and experience will help AFC Energy exploit its technology and move to being a significant commercial business."

 

The outgoing Chief Executive, Ian Williamson, has taken the decision to resign from AFC Energy and will leave the Company immediately. During his three years at AFC Energy, he played a crucial role in stabilising the business and in forging a clear strategy to transition its low cost fuel cell technology into commercial-grade systems aimed at the global market for stationary power applications. During this period, the Company also raised significant new funds and launched demonstration scale commercial programmes in key markets.

 

Ian Williamson said: "AFC Energy has established itself as a global player in fuel cell systems designed for the industrial and chemicals markets. With a strong financial position and solid technical resources to deliver on its demonstration programmes now underway, I have decided the time is right for me to hand on the baton."

 

Tim Yeo said: "Ian has been made an invaluable contribution in guiding the Company through its most challenging period. We wish him well for the future."

 

In another board change today Gene Lewis, who has been Technical Director of AFC Energy since 2009, is leaving the main board. Gene remains Technical Director and continues to lead the Company's research and development work.

 

Lionsgate Communications has been appointed to provide financial public relations and investor relations advice.

 

 

For further information, please contact:

AFC Energy plc

Christopher Tawney (Finance Director)

 

 

+44 (0) 20 3697 1209

Zeus Capital Limited - Nominated Adviser and Joint Broker

Dan Bate, John Depasquale (Corporate Finance)

Alex Davies, John Goold (Institutional Sales)

 

+44 (0) 20 7533 7727

 

M C Peat & Co LLP - Joint Broker

Charlie Peat

 

+44 (0) 20 7104 2334

Lionsgate Communications - Public Relations

Jonathan Charles, Rachel Rigby

 

 

+44 (0) 20 3697 1209

 

About AFC Energy

 

Founded in 2006, AFC Energy plc is re-engineering proven alkaline fuel cell technology to reduce the cost of electricity. Alkaline fuel cells have been used on US and Russian manned space missions for decades to provide electrical power and drinking water. By using platinum free, advanced materials, design tools and manufacturing processes at scale, AFC Energy is developing fuel cells that will compete with conventional technologies such as turbines for electrical power generation. Today, AFC Energy is pursuing opportunities in several sectors where hydrogen is readily available including the chlorine, clean coal and waste-to-energy industries as well as applications for distributed/back-up power. For further information, please visit our website: www.afcenergy.com.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
BOADBBDBGXXBGSG
Date   Source Headline
7th Dec 200912:22 pmRNSHolding(s) in Company
4th Dec 20091:53 pmRNSIssue of Equity - Placing
6th Nov 20097:56 amRNSBoard Appointment - Replacement
6th Nov 20097:06 amRNSBoard Appointment
6th Nov 20097:00 amRNSAppointment of Joint Broker
5th Nov 20097:00 amRNSPositive external review
29th Oct 20097:00 amRNSAlter NRG Westinghouse appoints Waste2Tricity
13th Oct 20097:00 amRNSMajor technology milestone and operational update
24th Aug 20097:00 amRNSLetter of Intent with Ineos ChlorVinyls
15th Jul 20097:00 amRNSAFC Fuel Cell Technology to be used in MoU
6th Jul 20097:00 amRNSInterim Results
2nd Jul 200910:43 amRNSDirectorate Change
22nd Jun 20097:00 amRNSProject Update
15th Jun 20097:00 amRNSChange of Name of Nominated Adviser and Broker
8th Jun 20097:00 amRNSNotice of Results
20th Apr 20097:00 amRNSIssue of Share Options
16th Apr 20092:40 pmRNSResult of AGM
17th Mar 20097:00 amRNSFinal Results
4th Feb 20097:00 amRNSAgreement signed with Waste2Tricity Ltd
30th Jan 20093:28 pmRNSDirectorate Change
26th Jan 20097:00 amRNSTechnical Review and Development Update
22nd Dec 20087:00 amRNSWork Programme Progress
11th Nov 20087:00 amRNSUpdate and Board Changes
16th Oct 20084:12 pmRNSHolding(s) in Company
7th Oct 20082:33 pmRNSHolding(s) in Company
7th Oct 20082:22 pmRNSHolding(s) in Company
10th Sep 20087:00 amRNSStatement RE: delay in delive
28th Aug 20082:46 pmRNSClarification on shipping of
28th Aug 20087:00 amRNSAFC ships first fuel cells to
3rd Jul 20087:00 amRNSInterim Results
30th May 20084:04 pmRNSTotal Voting Rights
23rd May 20087:00 amRNSDirector/PDMR Shareholding
21st May 20087:00 amRNSPlacing of new shares
10th Apr 20083:55 pmRNSAGM results & NED appointment
10th Apr 20087:01 amRNSInternational Sales Director
17th Mar 20087:01 amRNSFinal Results
29th Feb 20087:01 amRNS500 hour prototype operation
31st Jan 20082:48 pmRNSFirst prototype system test
31st Jan 200810:36 amRNSChange of Adviser
30th Jan 20085:35 pmRNSHolding(s) in Company
24th Oct 20077:00 amRNSTechnological Milestone
23rd Aug 20074:50 pmRNSTechnological milestone
17th Aug 20077:01 amRNSChange of Broker
16th Aug 20075:15 pmRNSWebsite AIM rule 26
6th Aug 20077:00 amRNSDirectorate Change
2nd Aug 20074:06 pmRNSRe Agreement
25th Jul 20077:00 amRNSInterim Results
13th Jul 20077:00 amRNSDirectorate Change
14th Jun 20073:55 pmRNSHolding(s) in Company
13th Jun 200712:00 pmBUSAFC Energy plc Signs Landmark Fuel Cell Memorandum of Understanding with the Government of Indonesia and Opens US Offices

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