Business
Result of AGM, Technical Revi
Result of AGM, Technical Revi.
About this update from H-power Plc
[{"type":"text","content":"\n RNS Number : 1195K AFC Energy Plc 13 April 2010 \n \n\n \nResult of AGM, Technical Review, NED Appointment\n \nAFC Energy (AIM: AFC), the developer of low cost alkaline fuel cells, is pleased to confirm that all resolutions at the Company's Annual General Meeting ('AGM') held today, were duly passed. \n \nInterim Technical Review \n \nThe positive outcome of the latest independent review of AFC Energy's technology by the Centre for Process Innovation (\"CPI\"), published today, was discussed at the AGM. \n\n \nThe Interim Technical Review, conducted on Thursday April 7th 2010 by Dr Jon Helliwell, Project Manager for Fuel Cell Applications at the CPI, follows his two more comprehensive annual reviews completed since November 2008.\n \nDr. Helliwell again reviewed AFC's fuel cell system including the electrodes, the catalyst systems, the current state of technological development, material science and the forward development programme. The main conclusions of the review were:\n \n· impressive additions to AFC's technical capability - both team and equipment\n· deployment of \"elegant and iterative solutions\" to rapidly progress from the 3.5kW alpha fuel cell system to a genuinely commercial 50kW beta system\n· development, in just a few months, of mass manufacturing techniques and a market-ready quality control system\n· major strides in electrode efficiency whilst significantly reducing cost of production\n \nAppointment of Non-executive Director\n \nThe Board of AFC Energy also announces its appointment of Simon Hunt as Non-executive Director with immediate effect. Simon is a co founder and Executive Chairman of IPSO Ventures, which focuses on turning new technologies into commercial reality. He trained as a corporate lawyer, specialising in corporate finance, M&A and intellectual property law, before moving into venture capital management with Gartmore Investment Management Limited. He later added public company operational and investment banking experience with a further focus on corporate finance and M&A. Simon has worked with companies at all stages of their development both in the UK and the US. He is Non-executive Chairman of...