REG - AFC Energy Plc - Directorate Change

AFC EnergyAnnouncement

23/07/2024 07:00

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RNS Number : 3691X  AFC Energy Plc  23 July 2024

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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                                                 +44 (0) 14 8327 6726

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

 Adam Bond (Chief Executive Officer)

 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.

 

 

 

 

 

 

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