Appointment of new Finance Director

RNS Number : 5663P

AFC Energy Plc

20 August 2014

 



20 August 2014

AFC Energy PLC

("AFC Energy", "AFC" or "the Company")

Appointment of new Finance Director

AFC Energy, the industrial fuel cell power company, is pleased to announce that Christopher Tawney has joined the Company as Finance Director (FD) and Company Secretary. He is expected to be appointed to the board of AFC Energy in due course and a further announcement will be made at that time.

Christopher Tawney brings over 25 years senior level experience in public and private businesses, and has extensive expertise in the cleantech and technology sectors. Most recently, Christopher was FD for three years at Algaecytes Limited, a biotechnology company. In addition, he also served as FD for Dettingen Ltd, a financial consultancy where he fulfilled similar boardroom roles for a number of early-stage cleantech companies including the solar power company Sonnedix Solar LP, clean energy business Coomtech Ltd and a forestry carbon start-up, Global Oxygen.

Christopher also has board level experience with AIM-quoted companies including Nviro Cleantech plc, where he completed its sale through a public offer and reverse takeover. He also served as group finance director of D1 Oils plc and before that held senior financial positions at several other international businesses including WBB Minerals, part of the Sibelco Group, Lucent Technologies/Avaya Communications, General Utilities Plc, part of Veolia, and Thomson (Uk) Holdings Ltd, owned by Thales.

He qualified as a chartered accountant with Price Waterhouse, becoming a Fellow of the Institute of Chartered Accountants in England and Wales in 1994. He is a graduate of Pembroke College, Cambridge and speaks French and German.

Tim Yeo, Chairman of AFC Energy, said: "I am delighted to welcome someone of Christopher's calibre and track record to AFC. His vast experience and oversight of the financial function at a broad range of growth companies in the cleantech and technology sectors will strengthen our leadership team as the Company enters the most important period of its commercial development."

Commenting on his appointment, Christopher Tawney said: "This is an exciting time to join AFC as the fuel cell industry comes of age and AFC Energy in particular prepares for the roll-out of its commercial scale systems in the years ahead."

For further information please contact:

AFC Energy plc Ian Williamson, Chief Executive	[phone]
Zeus Capital - Nominated adviser and Joint Broker Tim Metcalfe / Dan Bate (Corporate Finance)                                            John Goold (Institutional Sales)	[phone]
Peat & Co. - Joint Broker                                            Charlie Peat	[phone]
Luther Pendragon - Public Relations Adviser Neil Thapar, Alexis Gore, Alex Burr and Andy Johnson	[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 platinum free, advanced 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.

 

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