AFC Energy announces appointment of Tim Yeo MP, as non-executive chairman
February 5th, 2007
AFC Energy PLC (”AFC” or “the Company”), the low cost fuel cell company, is pleased to announce that Tim Yeo, MP for South Suffolk, has been appointed as a non-executive Chairman of the Company.
AFC is a clean energy Company that produces electricity at the same cost as conventional power using the substantial quantities of hydrogen created as a by-product in chemical plants.
AFC has recently signed an agreement with Akzo Nobel, the fourth largest chlorine producer in Europe, to generate electricity from the hydrogen it produces. This hydrogen is currently vented as a by-product of electrolysis. Akzo Nobel’s excess hydrogen has the potential to generate 60Mw of green energy.
Howard White, Founder and Executive Director, AFC Energy said;
“Tim’s extensive experience of environmental issues and particularly energy production will provide AFC with a major boost to its development and we look forward to him providing significant input into the progress of the company.”
Tim Yeo, MP, said:
“With AFC’s technology proving that clean energy can be produced without cost disadvantage, the opportunities for this British company are very exciting.
“There has been considerable talk about the viability of fuel cells and I am proud to be part of an organisation that has the potential to make an actual difference to balancing the world’s energy requirements and the environment.”
About Tim Yeo, MP
Tim Yeo has been MP for South Suffolk since 1983. He held various Ministerial posts under Margaret Thatcher and John Major, including Minister of State at the Department of the Environment.
Between 1998 and 2005 he was a member of the Shadow Cabinet, shadowing a record seven different departments. Since 2005 he has been Chair of the Environmental Audit Committee.
Tim holds a number of non-executive directorships in the energy and health sectors including Univent plc, ITI Energy Ltd and AFC Energy plc.