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6 Nov 2009 07:06
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AFC Energy PLC
('AFC Energy' orΒ the 'Company')
Board Appointment
AFC Energy PLC, the developer of low cost alkaline fuel cells, is pleased to announce thatΒ Ian Balchin, has been appointed to the BoardΒ with immediate effectΒ and will serve the Company as its Chief Executive OfficerΒ .
Ian has been working for theΒ Company, as Managing Director sinceΒ October 2008Β on a part time basis.
IanΒ Henry Balchin, aged 45,Β hasΒ anΒ extensive track record of commercialising technologies. He was CEO of Stanelco for 5 years and has previously held senior managementΒ positionsΒ in AEA Technology including director of New Ventures.
Ian holds warrants over 1,500,000 shares.
Current directorships: MetaLevel Limited, Polyfect Solutions Limited
Directorships during the last five years, Stanelco plc, Stanelco RF Technologies Limited, InGel Technologies Limited, Zircotec Limited, Ingel Industrial Limited, Starpol EdibleΒ Films Limited, Starpol Packaging Systems Limited.
There are no further disclosures required in accordance with paragraph (g) of Schedule 2 of the AIM Rules for Companies.
Β Tim Yeo, Chairman of AFC Energy commented
"We are delighted that Ian has recognised the potential of AFC Energy and is now able to dedicateΒ moreΒ Β timeΒ to maximising theΒ opportunityΒ for the Company. Ian's appointmentΒ confirmsΒ the strong AFC Energy team that is completely focused on producing a commercially viable alkali fuel cell system and producing a reliable source of renewable energy."
Ian Balchin, AFC Energy's Managing Director, added:
"HavingΒ worked with AFC Energy forΒ 12Β months, I have been able to see firsthand the huge opportunity that AFC Energy has. The company has made significant progress in its technical development of its low cost fuel cell system andΒ
OverΒ the last 12 monthsΒ I have witnessed at firsthand the huge opportunity that AFC EnergyΒ has. The Company has also made significantΒ technical progressΒ over this periodΒ and this has been highlighted in the recently completed independent review carried out by the Centre for ProcessΒ Innovation. I am delighted to accept this appointment and look forward to continuing progress.
For further information please visitΒ www.afcenergy.comΒ or contact:
|
AFC Energy plc Tim Yeo, Chairman Ian Balchin, Managing Director |
01483 276726 |
|
Astaire Securities Shane Gallwey |
020 7448 4400 |
|
Pelham Public Relations Chelsea Hayes |
020Β 7337 1523 |
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