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 6th 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 6th January 2025. Adam Bond
has resigned as a director of the Company with effect
5th 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
|
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JFW Agritech Limited
|
Checkit Europe Limited
|
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Regatta Bidco Ltd
|
Elektron Eye Technology Limited
|
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Regatta Midco Ltd
|
Elektron IP Limited
|
|
Regatta Topco Ltd
|
Elektron Precision Instruments
Limited
|
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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
Gary Bullard (Chief Executive
Officer)
|
+44 (0) 14 83 276 726
investors@afcenergy.com
|
|
Peel Hunt LLP - Nominated Adviser and
Joint Broker
Richard Crichton / Georgia
Langoulant / Brian Hanratty
|
+44 (0) 207
418 8900
|
|
Zeus - Joint Broker
David Foreman / James Hornigold
(Investment Banking)
Dominic King (Corporate Broking) /
Rupert Woolfenden (Sales)
|
+44 (0) 203 829 5000
|
|
RBC
Capital Markets - Joint
Broker
Matthew Coakes / Teri Su
Eduardo Famini / Jack
Wood
FTI
Consulting - Financial PR Advisors
Ben Brewerton / Tilly Abraham / Evie
Taylor
|
+44 (0) 20 7653 4000
+44 (0) 203 727 1000
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.