Why is the Company proposing to change its name?
The current name no longer reflects the business we are today. AFC Energy is no longer an alkaline
fuel cell company, and the existing name continues to create confusion around technology that is no
longer part of our strategy or product roadmap.
As the business prepares for commercial growth, a clearer and more representative corporate identity
will support our positioning with customers, partners and investors. The existing name also carries
legacy perceptions linked to earlier phases of the Company’s development, including technologies
and performance that are no longer relevant to our direction.
Feedback from institutional investors and new leadership has reinforced the need to reset market perception and present a clearer, more accurate representation of the business. Given that the current name carries limited positive brand equity, the risk of change is low, while the strategic benefits are significant.
What is the strategic purpose of the name change?
The name change forms a central part of establishing a coherent, product led brand that supports the Company’s transition into commercial execution. A unified corporate identity will simplify how we communicate our purpose, our technology, and the markets we serve. It will also help reposition the Company from a small, development stage organisation to a scale ready energy business aligned with refreshed values, culture, and leadership ambition.
In B2B markets a strong brand matters. It signals credibility, capability, and long term commitment. The new name provides a clearer foundation on which to build a strong, recognisable brand as we bring productised technologies to market.
What is the rationale behind selecting the name H-Power?
H-Power was selected because it directly reflects the core of our business: creating, using, and converting hydrogen into power. It captures the full scope of our offering, from hydrogen production to hydrogen based power generation.
The word “Power” conveys strength, scale, and reliability, and the name is intuitive and understood by customers, partners, and investors. It positions the Company alongside — and in some
cases ahead of established competitors, without relying on niche or overly technical terminology. The name also lends itself to a strong and memorable London Stock Exchange ticker symbol, HPOW.
What benefits will the name change deliver?
The name change is intended to remove confusion in customer and investor conversations,strengthen the Company’s credibility, and support our positioning against established competitors. A
strong and modern brand reinforces trust, professionalism, and long term reliability — all of which are essential in energy markets where customers and partners make multiyear commitments. The name change is an important enabler of future growth, to help improve strategic positioning and support long term value creation for shareholders.
Why is now the right time to undertake this change?
The Company is pre-material revenue and pre-scale, which means there is minimal risk of customer disruption. Implementing the name change at this stage avoids the significantly higher cost and
complexity of rebranding in the future.
The timing also aligns with the establishment of new marketing capability and the broader transition from development into commercial execution. As new materials, digital assets, and investor communications are being created, proceeding now avoids duplicating work and ensures that all future collateral reflects the Company’s strategic direction from the outset.
What are the costs and risks associated with the name change?
The costs associated with the name change are limited. The Company has minimal physical collateral, and most assets are digital and can be updated quickly and efficiently. This makes the transition significantly less costly than a full rebrand. The operational risks are also low: customers will not be adversely affected, and the legal entity remains unchanged.
How do I participate in the name change decision?
All shareholders are invited to vote by proxy or in person at the Annual General Meeting on 16 April 2026. The name change can only proceed if the required majority is achieved, after which the
Company will complete the necessary formalities.
How will the outcome of the name change resolution be communicated?
The results of the Annual General Meeting will be announced through a regulatory release, followed by updates on the Company’s website and direct communications to key stakeholders confirming the new name and next steps.
What is the timetable for adopting the new name and brand?
If approved at the Company’s Annual General Meeting on 16 April 2026, the Company will then apply to Companies House for a Certificate of Incorporation on Change of Name. This certificate is the formal confirmation required for the new name to take legal effect.
Once the certificate has been issued, the Company will adopt the new identity as soon as reasonably possible and will issue a formal announcement. The Company’s updated corporate website, IT
systems, LSE ticker symbol and associated brand materials will be transitioned in line with the new name. The transition will be coordinated to ensure a smooth and orderly change across all public facing channels.
Does the name change have any legal or contractual implications for investors, customers, or partners?
As a legal entity, the Company is defined by its registered company number rather than its name. All shares in AFC Energy plc will automatically become shares in H-Power plc, and the Company will remain listed on AIM without any action required from shareholders. No new share certificates will be issued. All existing contracts will continue in force under their current terms, as the renamed entity remains the same legal entity. Employee email addresses will transition to the new domain, with automatic forwarding from existing AFC Energy addresses to ensure continuity.
For further information, please contact AFC Energy Plc: investors@afcenergy.com / +44 (0)1483 276726