AFC Energy Plc Appointment of Chief Operational Officer (0505W)

TIDMAFC

RNS Number : 0505W

AFC Energy Plc

06 February 2017

6 February 2017

AFC Energy PLC

("AFC Energy" or the "Company")

Appointment of Chief Operating Officer

AFC Energy (AIM: AFC), the industrial fuel cell power company, is pleased to announce the appointment of Jim Gibson to AFC Energy's Board of Directors as Chief Operating Officer of the Company with immediate effect.

Jim's extensive experience in operational management and business development in the chemicals sector is critical as AFC Energy is set to crystallise the commercialisation of its proven alkaline fuel cell system. Jim has taken a leading role at AFC Energy over the last four months in a product development and business development capacity, closely involving himself in the oversight and management of project opportunities and operational development.

Jim has almost 30 years' experience in operations management and business development roles for the engineering contracting sector and particularly within the APAC region. Jim spent 23 years at Foster Wheeler working in operational roles and then leveraging his technical background, in chemical engineering, to maximise business acquisition opportunities in his business development roles. Jim worked as Commercial Director for the APAC region and was MD of Global Sales & Marketing group. Jim has most recently spent two years as Head of Process Technologies & Business Development (APAC) for ThyssenKrupp Industrial Solutions and is a member of the Institute of Chemical Engineers.

Adam Bond, CEO, commented:

"On behalf of all the Directors and executives, we would like to welcome Jim to the Board. Jim's credentials, experience and capability have supported the Company over the past few months and have been a strong catalyst for some of the commercial and technical initiatives currently under development at AFC Energy. His direct experience in the chemical and industrial sectors drive an increased focus and relevance of AFC Energy's leading alkaline technology and fuel cell systems to that expected from our commercial, strategic and project partners. We are delighted to add Jim to our Board and executive team."

Jim Gibson, COO, commented:

"It is a pleasure to be joining AFC Energy at this extremely exciting time in the Company's evolution to a fully commercial and world leading fuel cell company. Having followed the Company for the past couple of years, I have been most impressed at the strides forward it has achieved and the calibre of partners we are currently engaged with. I'm confident that a significant market opportunity is opening for AFC Energy's fuel cell and look forward to supporting the Company's stated aspirations for 2017 of project development and technical success and beyond."

For further information, please contact:

 
AFC Energy plc 
 Adam Bond (Chief Executive Officer) 
 Jim Gibson (Chief Operating Officer)                             [phone] 
Cantor Fitzgerald Europe - Nominated Adviser and Joint Broker 
 Andrew Craig 
 Richard Salmond                                                  [phone] 
M C Peat & Co LLP - Joint Broker 
 Charlie Peat                                                     [phone] 
 
Lionsgate Communications - Public Relations 
 Jonathan Charles                                                 [phone] 
 

About AFC Energy

AFC Energy plc has developed and successfully demonstrated an alkaline fuel cell system ("KORE"), which converts hydrogen into "clean" electricity. AFC Energy's key project POWER-UP demonstrated the world's largest operational alkaline fuel cell system at Air Products' industrial gas plant in Stade, Germany, in January 2016. The Company is now looking to build upon an already established pipeline of commercial opportunities and drive the findings from the development phase of the technology into a technically optimised and commercially relevant fuel cell system. For further information, please visit our website: www.afcenergy.com

The following disclosures are required under Schedule Two paragraph (g) of the AIM Rules for Companies:

Full name:

James Hay Gibson

Age:

50

Current directorships and partnerships:

   iProcess Engineering & Consulting Limited          (September 2016 - Present) 

James Hay Gibson has no direct shareholding in the Company, but has an indirect interest in the Company by virtue of his spouse's ownership of 90,000 ordinary shares of 0.1 pence each, representing approximately 0.2 per cent. of the issued share capital of AFC Energy.

No further disclosures are required under the AIM Rules for Companies.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

This information is provided by RNS

The company news service from the London Stock Exchange

END

BOALLFETFLIEIID

(END) Dow Jones Newswires

February 06, 2017 02:00 ET (07:00 GMT)