Directorate Change

RNS Number : 4693E

AFC Energy Plc

31 May 2012

 



31 May 2012

AFC Energy PLC

("AFC Energy" or the "Company")

Director change

 

AFC Energy (AIM: AFC), the energy company providing alkaline fuel cell systems to industry, is pleased to announce the appointment of Adam Steven Bond as a non-executive director of the Company. Adam joins the board on 1 June 2012 and will represent Linc Energy, a significant shareholder in AFC Energy. He replaces David Smith, who resigned from the board today having changed roles within Linc Energy.

Adam has been Linc Energy's alternate director during David Smith's term of office. He is currently President Clean Energy at Linc Energy, where he is responsible for the execution and deployment of the company's clean energy, Underground Coal Gasification (UCG) to Gas to Liquids (GTL) projects around the globe.

Prior to joining Linc Energy, Adam held positions with the British Government as Project Director, Lead Negotiator and Commercial Lead for the United Kingdom's first carbon capture and storage programme. He was also instrumental in the design of the commercial framework for delivery of the United Kingdom's offshore electricity transmission network.

Tim Yeo, Chairman of AFC Energy, commented: "Firstly, on behalf of the board, I welcome Adam's appointment. Adam is already familiar with AFC Energy and its strategy, having been David Smith's alternate on the board, and he will be invaluable in commercialising our technology for some of our core application markets. Secondly, I thank David for his contribution to the Company and wish him well in his new role at Linc Energy."

Adam Bond, commenting on his appointment, said: "AFC Energy has been an important strategic investment for Linc Energy. Since investing we have seen the Company make significant technical and commercial progress and we believe that Linc Energy can add significant value to the synergistic relationship. AFC has an exciting future."

Adam is 36 years old and is a director of Adam Bond Commercial Advisory Limited.

There are no other matters required to be disclosed pursuant to paragraph (g) of schedule 2 of the AIM Rules.

Ends

For further information, please contact:

AFC Energy plc Ian Williamson, Chief Executive Ian Balchin, Deputy Chairman	[phone]
Luther Pendragon Neil Thapar Leigh Marshall Alexis Gore	[phone]
Allenby Capital - Nominated Adviser and Broker Jeremy Porter James Reeve	[phone]

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.

Linc Energy

Linc Energy is an innovative, forward thinking energy company and Australia's leader in clean coal technology. The company's vision is to become a dominant player in the supply of more environmentally friendly power, diesel and jet fuel.

Linc Energy aims to achieve this vision by bringing together two production processes known as Underground Coal Gasification (UCG) clean coal technology and Gas to Liquids (GTL).

These processes should economically convert large "stranded" coal deposits into clean liquid fuels. Linc Energy also intends to use the Syngas produced from UCG clean coal technology as feedstock for gas turbines to generate environmentally friendly electricity.

The company has the opportunity to provide a viable, more sustainable and smart alternative source of liquid fuels and power generation into the foreseeable future.

Linc Energy represents a new future for liquid fuels production and power generation.

 

END

 

 

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