China New Energy Ltd Directorate Appointment (6800N)

TIDMCNEL

RNS Number : 6800N

China New Energy Ltd

28 October 2016

28 October 2016

China New Energy Limited

("CNE" or "the Company")

Directorate Appointment

The board of the Company is pleased to announce that Nicholas Brooks has today been appointed to the board as Non-executive Director.

Nicholas ("Nick") Martin Brooks (aged 59)

Mr. Brooks has over 40 years of experience in the petroleum and bio-energy sectors and extensive experience creating and internationalising businesses in Asia, Middle East, Central Europe, Africa and the Americas. Further he acts in an advisory capacity to a number of international biofuels/bioenergy businesses, and mentors young entrepreneurs.

Most recently Mr Brooks was CEO of Future Blends Limited, a company focused on the development of carbon efficient technology solutions to convert residual and non-edible biomass into energy, liquid fuels and bio-chemicals.

In 2009, he co-founded, Mycologix, a second-generation biofuels technology company and prior to this, in 2007, was the CEO of Bioverda, where he led a multinational team located throughout Europe controlling company strategy and directing operations in two biodiesel businesses and a landfill gas power business. He also developed a pipeline of projects including crushing/esterification biodiesel projects and a number of bio-energy projects. From 2006 to 2007 Mr. Brooks served as CEO of Sun Biofuels Ltd, an African based company investing in energy crop plantations in Tanzania, Ethiopia and Mozambique. He oversaw the strategic and operational development of the company, focussing primarily on the acceleration of land acquisition and planting.

From the mid-2000s, Mr. Brooks moved on to create and become CEO of early-stage agricultural, biofuel and bioenergy companies operating in Europe and Africa, and became Entrepreneur in Residence at Imperial Innovations covering clean technology.

Prior to 2006, Mr. Brooks was employed by Royal Dutch Shell for 28 years in a number of executive roles. His appointments included periods as Managing Director of Shell Polska and Commercial Business Development Manager of Shell European Oil Products. He later led the business incubator at Shell Internet Services before becoming CEO of Shell India eServices. In 2003 he became the Europe, Middle East and Africa director of Pennzoil-Quaker State Integration before taking a role as Managing Director of Shell Car Care International in 2003.

Independent of this appointment, Mr. Brooks has been nominated as a non-executive director of Addax Bioenergy Sierra Leone Limited, a sugarcane bioethanol and renewable electricity operation in Makeni, Sierra Leone which is expected to be formalised in November 2016. The Company has an option to make a minority investment into a consortium which recently acquired 75.1 per cent of Addax Bioenergy Sierra Leone Limited and has further tendered the consortium for technology and service contracts for upgrade work at the Addax plant.

 
 Present directorships / partnerships   Former directorships / partnerships held over past 5 years 
 None                                   Future Blends Limited 
                                        Mycologix Limited 
 

Mr. Brooks holds 105,000 ordinary shares in the Company which represents approximately 0.03 per cent. of the Company's issued share capital. There are no further disclosures under Schedule 2 (g) of the AIM Rules.

Mr. Yu, Chairman, commented, "We are delighted to welcome Nick to the board, who is highly regarded in the African Bioenergy industry. His experience, knowledge and contact base should be very beneficial for us in developing our international business and achieving our goal of internationalising the business."

For further information, please visit www.chinanewenergy.co.uk or contact:

 
 China New Energy Limited             www.chinanewenergy.co.uk 
 Richard Bennett                          Tel: [phone] 
                                   374 or [e-mail] 
 Ivy Xu                               Tel: [phone] 
                                           or [e-mail] 
 
 Cairn Financial Advisers                Tel: [phone] 
  LLP (NOMAD) 
 Jo Turner / Sandy Jamieson 
 
 Daniel Stewart and Co (Broker)          Tel: [phone] 
 David Lawman / Daphne Zhang 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 28, 2016 02:00 ET (06:00 GMT)