AFC Energy Regulatory News (AFC)

10 Apr 2008 07:01

AFC Energy Plc10 April 2008 10 April 2008 AFC Energy to target waste by-product hydrogen to produce clean energy with the appointment of Ray Yeoh as International Sales Consultant AFC Energy plc ("AFC Energy" or the "Company"), the low-cost alkaline fuel cellcompany that generates clean electricity from by-product hydrogen, is pleased toannounce the appointment of Ray Yeoh as International Sales Consultant. Aveteran of the chlorine industry in Asia, Ray will report to Gerard Sauer, ChiefExecutive of AFC Energy. Ray has over 20 years' experience of working in the chlorine industry and willbe responsible for identifying opportunities for AFC Energy to supply its fuelcells to companies that produce large amounts of hydrogen as a by-product oftheir activity. Currently some of this hydrogen is vented off and lost into theatmosphere. Initially Ray will concentrate on the chlorine industry in Asia, which theDirectors estimate currently produces 26 million tonnes of chlorine and 0.78million tonnes of hydrogen (equivalent to 1,003,7500 MW of clean electricity). AFC Energy's first customer is the European chlorine manufacture Akzo Nobel. AFCEnergy is due to ship its first set of 3.5kW fuel cells to Akzo Nobel in August2008. Prior to working with AFC Energy, Ray worked as a sales and technical managerwith DuPont and ELTECH Systems for 18 years selling technical products such asNafion ion exchange membranes, electrolysers, DSA Anode and Cathode Coatings tochlor-alkali plants throughout Asia. He has played key roles in the sale ofseveral chlor-alkali plants with values between US$1million and US$5 million. Hehas also worked with other technical teams on start-up chlor-alkali membraneplants in South East Asia. Gerard Sauer, Chief Executive Officer, AFC Energy, commented: "With AFC Energy's strategy of taking its fuel cells directly to the hydrogensource, Ray's knowledge and contacts within the chlorine industry will beinvaluable to AFC Energy and we welcome him to the Company. "Having proved the viability and performance of our technology we look forwardto Ray playing a key role in the roll-out of our fuel cells and ensuring AFCEnergy becomes recognised as a key power generation partner to the industrialsector." - Ends - For further information please visit www.afcenergy.com or contact: AFC Energy Plc 01483 276 726Gerard Sauer, Chief Executive Madano Partnership 020 7593 4000Mark Way About AFC Energy AFC Energy develops low-cost alkaline fuel cells for industries that producehydrogen as a by-product. This hydrogen is used by AFC Energy's fuel cells toproduce clean electricity. AFC Energy's fuel cells have been developed with a focus on three key criteria: • reduced precious metal content; • operable at low temperatures to allow the use of plastic mouldings; and • high efficiency levels with an approximate conversion rate of 60% Having achieved these three objectives, AFC Energy has significantly reduced thecost of its technologies and thereby ensured the continuing commercialisation ofits fuel cells. This information is provided by RNS The company news service from the London Stock Exchange