AFC Energy Plc Directorate Change (5081V)

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RNS Number : 5081V

AFC Energy Plc

15 April 2021

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

15 April 2021

AFC Energy PLC

("AFC Energy" or the "Company")

Appointment of new Chair

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, is pleased to announce the appointment of Gary Bullard as its non-Executive Chair with immediate effect. He succeeds John Rennocks who retired from the Board after the company's Annual General Meeting (AGM) on 14 April after four years as Chair.

Mr Bullard is an experienced Chairman, non-executive director and executive with a successful international career in the Industrial and Information Technology industries. His Board level experience includes working with companies in the scale up of high-volume manufacturing and supporting high value, high growth businesses in the commercialisation of technology across a range of sectors.

He has particular expertise in understanding the opportunities for companies to expand their market reach through geographic expansion; expanding their value chain; digital transformation and innovation; increasing services or annuity revenues; partnering and expanding their routes to market. He will draw upon his considerable experience on the Boards of UK companies who have specialist offerings with a global marketplace and growth aspirations.

Mr Bullard brings strong business and governance experience to the role. Gary has held several senior management positions in major corporates such as IBM and BT. Until 2012 he was President at Logica UK and a member of the Executive Committee of Logica plc. He has a wealth of AIM & Main Market experience and is currently Chairman of Gooch & Housego plc as well as being a Non-Executive Director of Spirent Communications plc.

Commenting on his appointment, Gary Bullard, Non-Executive Chair at AFC Energy, said:

"I am hugely excited to have the opportunity to chair a growing business that will play a pivotal role in decarbonising industry to reduce the effect of climate change.

I believe that my commercial experience will be of significant benefit to AFC Energy as it scales up its operations to meet growing demand and I look forward to working with Adam and the senior Executive team to make this happen."

Adam Bond, Chief Executive Officer at AFC Energy, added:

"Following a thorough selection process, we are delighted to have found a chairman in Gary with such extensive experience and enthusiasm for the business.

Our key priority is to put in place the required distribution channels, manufacturing and staffing to drive our commercial sales with significant annuity revenue and Gary's commercial acumen will be invaluable during this phase of the company's development."

Pursuant to Schedule 2 (g) of the AIM Rules for Companies the following is disclosed in relation to Gary Bullard.

Gary Bruce Bullard, aged 64, is currently a director of Gooch & Housego plc, Spirent Communications plc, Recycling Technologies Ltd and New Model Identity Ltd.

In the previous five years, he held Directorships in Rotork plc and Catquin Ltd.

Gary does not currently hold any shares in, or options over shares in, the capital of the Company.

Save as set out above, there is no further information required to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules for Companies.

-ENDS-

For further information, please contact:

 
AFC ENERGY AND ADVISORS 
  AFC Energy plc 
   Adam Bond (Chief Executive Officer)             [phone] 
   Iain Thomson (Head of Communications and        [e-mail] 
   Stakeholder Management) 
  WH Ireland - Nominated Adviser and Joint 
   Broker 
   M ike Coe (Corporate Finance) 
   Jasper Berry (Corporate Broking)               [phone] 
                                                 ----------------------------- 
  M C Peat & Co LLP - Joint Broker 
   Charlie Peat                                   [phone] 
                                                 ----------------------------- 
  Zeus Capital Limited - Joint Broker 
   Daniel Harris (Corporate Finance) 
   John Goold/Dominic King (Corporate Broking)    [phone] 
                                                 ----------------------------- 
  FTI Consulting - PR Advisors                    [phone] 
   Sara Powell / Ben Brewerton                     [e-mail] 
                                                 ----------------------------- 
 

About AFC Energy plc

AFC Energy plc is commercialising a scalable alkaline fuel cell system, to provide clean electricity for on and off grid applications. The technology, pioneered over the past twelve years in the UK, is now deployable in electric vehicle chargers, off-grid decentralised power systems and industrial gas plants as part of a portfolio approach to the decarbonisation of local electricity needs. (afcenergy.com)

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April 15, 2021 02:00 ET (06:00 GMT)