REG - AFC Energy Plc - Appointment of John Wilson as CEO of AFC Energy

AFC EnergyAnnouncement

05/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240905:nRSE7579Ca&default-theme=true

RNS Number : 7579C  AFC Energy Plc  05 September 2024

THE 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"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT
VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN
THE PUBLIC DOMAIN.

 

 

5 September 2024

 

 

AFC Energy PLC

("AFC Energy" or the "Company")

 

Appointment of John Wilson as CEO of AFC Energy plc

 

AFC Energy plc is pleased to announce the appointment of John Wilson as the
new Chief Executive Officer, effective 6(th) January 2025, succeeding Adam
Bond, whose decision to step down was previously announced. John brings a
wealth of experience in leading technology-driven businesses through
significant growth and transformation, making him exceptionally well-suited to
guide AFC Energy as it enters a new phase of its development and commercial
scale up.

 

John will join AFC Energy from Bulgin Ltd, a private equity-backed
connectivity solutions developer, where he has held the position of CEO since
leading a successful management buyout in 2019. Prior to this, John was CEO of
Elektron Technology Plc for nearly a decade, where he significantly enhanced
shareholder value through strategic growth initiatives and the
commercialisation of complex technologies. His early career was spent in
engineering and technology consulting roles, where he specialised in bringing
complex and emerging technologies to market in both the UK and North America.

 

John's appointment comes at a pivotal time for AFC Energy as we embark on our
next chapter of growth, capitalising on Adam's work to date, focusing on
scaling up our manufacturing capabilities and developing the value in our
ammonia cracker technology. His proven track record in driving strategic
initiatives and delivering shareholder value will be instrumental in steering
AFC Energy towards continued success.

 

To ensure a smooth transition, Gary Bullard, Chairman of AFC Energy, will take
on the role of CEO on an interim basis, effective immediately, to support the
transition until John assumes his position on 6(th) January 2025. Adam Bond
has resigned as a director of the Company with effect 5(th) September 2024,
but shall remain available to support the transition.

 

Quote from John Wilson:

"I am honoured to be joining AFC Energy at such an exciting time in the
company's evolution. The opportunity to lead a company that is at the
forefront of clean energy innovation is truly compelling. I look forward to
working with the talented team at AFC Energy to build on the strong foundation
laid by Adam Bond and to drive the company's growth as we commercialise our
technologies and expand our global footprint."

 

Quote from Gary Bullard, Chairman and CEO:

"We are delighted to welcome John Wilson as our new CEO. His extensive
experience in leading technology companies through growth and transformation
phases makes him the ideal candidate to take AFC Energy forward. We have every
confidence that under his leadership, AFC Energy will continue to make
significant strides in the clean energy sector, particularly as we advance our
manufacturing and ammonia cracker initiatives. In the interim, I will be
stepping in as CEO to ensure an effective transition and continued progress on
our strategic goals."

 

Regulatory

 

The following information is disclosed under Rule 17 of the AIM Rules for
Companies ("AIM Rules") and Schedule Two Paragraph (g) of the AIM Rules:

 

John Frederick Wilson (aged 48)

John Wilson does not hold any ordinary shares nor options over ordinary shares
in the Company.

 

 Current Directorships  Past Directorships (within the last five years)
 Volex plc              Abbey Place (Fordham) Management Company Limited
 Insig AI plc           Bulgin Connectors Limited
 Bulgin Limited         Checkit plc
 JFW Agritech Limited   Checkit Europe Limited
 Regatta Bidco Ltd      Elektron Eye Technology Limited
 Regatta Midco Ltd      Elektron IP Limited
 Regatta Topco Ltd      Elektron Precision Instruments Limited
 Regatta Holdco Ltd     Checkit UK Ltd

 

There is no further information which is required to be disclosed under
Schedule Two, paragraph (g) of the AIM Rules for Companies in respect of John
Wilson.

 

For further information, please contact:

 

 AFC Energy plc                                                 +44 (0) 14 83 276 726

 Gary Bullard (Chief Executive Officer)                         investors@afcenergy.com (mailto:investors@afcenergy.com)

 Peel Hunt LLP - Nominated Adviser and Joint Broker             +44 (0) 207 418 8900

 Richard Crichton / Georgia Langoulant / Brian Hanratty
 Zeus - Joint Broker                                            +44 (0) 203 829 5000

 David Foreman / James Hornigold (Investment Banking)

 Dominic King (Corporate Broking) / Rupert Woolfenden (Sales)

 RBC Capital Markets - Joint Broker                             +44 (0) 20 7653 4000

 Matthew Coakes / Teri Su

 Eduardo Famini / Jack Wood

 FTI Consulting - Financial PR Advisors                         +44 (0) 203 727 1000

 Ben Brewerton / Tilly Abraham / Evie Taylor                    afcenergy@fticonsulting.com (mailto: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.
The Company's proprietary ammonia cracking technology further highlights
emerging opportunities across the distributed hydrogen production market with
a focus on hydrogen's role in supporting industries facing challenges in
decarbonisation, such as mining, cement and heavy engineering.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAUOOSRSAUKRAR