RNS Number : 0944C
AFC Energy Plc
06 November 2009
AFC Energy PLC
('AFC Energy' or the 'Company')
Board Appointment
AFC Energy PLC, the developer of low cost alkaline fuel cells, is pleased to announce that Ian Balchin, has been appointed to the Board with immediate effect and will serve the Company as its Chief Executive Officer .
Ian has been working for the Company, as Managing Director since October 2008 on a part time basis.
Ian Henry Balchin, aged 45, has an extensive track record of commercialising technologies. He was CEO of Stanelco for 5 years and has previously held senior management positions in AEA Technology including director of New Ventures.
Ian holds warrants over 1,500,000 shares.
Current directorships: MetaLevel Limited, Polyfect Solutions Limited
Directorships during the last five years, Stanelco plc, Stanelco RF Technologies Limited, InGel Technologies Limited, Zircotec Limited, Ingel Industrial Limited, Starpol Edible Films Limited, Starpol Packaging Systems Limited.
There are no further disclosures required in accordance with paragraph (g) of Schedule 2 of the AIM Rules for Companies.
Tim Yeo, Chairman of AFC Energy commented
"We are delighted that Ian has recognised the potential of AFC Energy and is now able to dedicate more time to maximising the opportunity for the Company. Ian's appointment confirms the strong AFC Energy team that is completely focused on producing a commercially viable alkali fuel cell system and producing a reliable source of renewable energy."
Ian Balchin, AFC Energy's Managing Director, added:
"Having worked with AFC Energy for 12 months, I have been able to see firsthand the huge opportunity that AFC Energy has. The company has made significant progress in its technical development of its low cost fuel cell system and
Over the last 12 months I have witnessed at firsthand the huge opportunity that AFC Energy has. The Company has also made significant technical progress over this period and this has been highlighted in the recently completed independent review carried out by the Centre for Process Innovation. I am delighted to accept this appointment and look forward to continuing progress.
For further information please visit www.afcenergy.com or contact:
AFC Energy plc 01483 276726
Tim Yeo, Chairman
Ian Balchin, Managing Director
Astaire Securities 020 7448 4400
Shane Gallwey
Pelham Public Relations 020 7337 1523
Chelsea Hayes
This information is provided by RNS
The company news service from the London Stock Exchange
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