Appointment of Broker

7 June 2012

AFC Energy PLC

("AFC Energy" or the "Company")

Appointment of Broker

AFC Energy (AIM: AFC), the energy company providing alkaline fuel cell systems to industry, is pleased to announce the appointment of MC Peat & Co. as its broker with immediate effect.

Ian Williamson, Chief Executive Officer of AFC Energy, commented: "We believe that MC Peat & Co. are well placed to bring AFC Energy to the attention of both UK and international investors and that there is a good alignment between the future objectives of both our organisations."

Charlie Peat, Chief Executive Officer of MC Peat & Co., commented: "We are delighted to have been appointed broker to AFC Energy and look forward to working with the Company at this exciting stage of its development. With its proprietary 'low cost' technology in the renewable/clean energy sector, our aim is to demonstrate to the market that this clear differentiating factor of AFC Energy is not only important from an environmental and economic cost perspective, but should also provide a compelling investment proposition."

Ends

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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 modern 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.

About MC Peat & Co.

MC Peat & Co. is a fast growing financial services company, in particular providing corporate broking services to UK and overseas companies. With its highly experienced staff, it focusses on and has extensive knowledge of a wide variety of sectors in UK, European and Emerging Markets. MC Peat & Co. is able to provide investment advice and financing solutions from a wide variety of sources. MC Peat & Co. is the trading name of Linear Investments Ltd.