Directorate Change

RNS Number : 2247T

AFC Energy Plc

18 November 2013

 



18 November 2013

AFC Energy PLC

("AFC Energy" or the "Company")

Directorate Change

AFC Energy (AIM: AFC), the fuel cell energy developer for industry, announces that Ian Balchin has resigned as a director of the Company with immediate effect in order to pursue his other business interests.

Tim Yeo, Chairman of AFC Energy, said: "We originally brought Ian into the Company to help it through its early stages of development and he has played a key part in transforming its prospects, building its profile and in particular in raising the funds required to take the business forward. Ian leaves us with the warm thanks of the Board and we wish him every success in the growing number of his other ventures."

Ian Balchin said: "I have relished the last five years with AFC Energy and leave the Company in good shape, well financed and in very capable hands ready for large-scale testing and scale-up. I shall continue to take a keen interest in the Company's progress whilst pursuing my other business interests."

For further information please contact:

AFC Energy plc Ian Williamson, Chief Executive Jane Dumeresque, Finance Director & Company Secretary	[phone]
Luther Pendragon - Public Relations Adviser Neil Thapar Alexis Gore James Foster	[phone]
Peat & Co. - Corporate Broker                                            Charlie Peat	[phone]
Allenby Capital Limited - AIM Nominated Adviser 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 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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