HE
INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE
COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER
ARTICLE 7 OF THE EU REGULATION 596/2014 AS IT FORMS PART OF THE UK
LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR").
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PUBLIC DOMAIN.
23 July 2024
AFC Energy
PLC
("AFC
Energy" or the "Company")
Directorate Change
AFC Energy (AIM:AFC), a leading
provider of hydrogen power generation technologies, announces that
Adam Bond advised the Board on 22 July 2024 of his decision to step
down from his role as CEO in order to return to Australia and his
family after 10 years in the UK with the Company.
Adam is committed to supporting an
orderly transition over the coming months, and the Company will
immediately commission an external search firm to identify a
successor with proven capability of scaling-up similar
businesses.
During this transitionary period,
AFC Energy will continue to benefit from Adam's experience and
contacts in the industry to support the appointment of a
successor. In addition, Gary Bullard, the current
non-Executive Chairman, will take on the role of Executive Chairman
until a successor CEO is in place.
Gary has nearly 20 years' experience
on the boards of successful UK-based industrial technology
companies, including Chloride plc, Rotork plc, Spirent plc and
Gooch & Housego plc.
Adam Bond, Chief Executive Officer,
said:
"I
am pleased to have been part of an incredibly exciting journey with
AFC Energy but feel that this is an appropriate time for me to hand
over, as the Company now looks to scale-up manufacturing and
deployment of our generators and exploit the opportunities offered
by our world-leading ammonia cracker technology."
Gary Bullard, Executive Chairman,
said:
"10 years ago the Board asked Adam to move
from his non-executive role, relocate to the UK and take on the CEO
position. He has served as a great ambassador in furthering the
vision of hydrogen as the way forward to a net zero economy, and in
ensuring that AFC Energy, and the UK, will play a leading role in
this. With Adam's continued support, we look forward to making a
smooth transition, thank Adam for his service to the Company and
wish him well for the future."
For
further information, please contact:
|
AFC
Energy plc
Gary Bullard (Executive
Chairman)
Adam Bond (Chief Executive
Officer)
|
+44 (0) 14 8327 6726
investors@afcenergy.com
|
|
Peel Hunt LLP - Nominated Adviser and
Joint Broker
Richard Crichton / Georgia
Langoulant / Brian Hanratty
|
+44 (0) 207
418 8900
|
|
Zeus - Joint Broker
David Foreman / James Hornigold
(Investment Banking)
Dominic King (Corporate Broking) /
Rupert Woolfenden (Sales)
|
+44 (0) 203 829 5000
|
|
RBC
Capital Markets - Joint
Broker
Matthew Coakes / Teri Su
Eduardo Famini / Jack
Wood
FTI
Consulting - Financial PR Advisors
Ben Brewerton / Tilly Abraham / Evie Taylor
|
+44 (0) 20 7653 4000
+44 (0) 203 727 1000
afcenergy@fticonsulting.com
|
|
|
|
About AFC Energy
AFC Energy plc is a leading provider
of hydrogen energy solutions, to provide clean electricity for on
and off grid power applications. The Company's fuel cell technology
is now deployable as electric vehicle chargers, off-grid
decentralised power systems for construction and temporary power
with emerging opportunities across maritime, data centres and rail
as part of a portfolio approach to the decarbonisation of society's
growing electrification needs.