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Alkaline Fuel Cell Power Corp. Announces Key Management Appointments
[July 28, 2021]

Alkaline Fuel Cell Power Corp. Announces Key Management Appointments


  • Appointment of Sven Van Hout as Financial Controller for all AFCP subsidiary companies
  • Appointment of three technical professionals who will be instrumental advancing the project along the path to commercialization

VANCOUVER, British Columbia, July 28, 2021 (GLOBE NEWSWIRE) -- Alkaline Fuel Cell Power Corp. (NEO: PWWR) ("AFCP" or the "Company"), a company focused on the design, development and commercialization of alkaline fuel cell heat and power systems for residential, industrial and commercial markets worldwide, is pleased to confirm that as of July 1, 2021, Mr. Sven Van Hout has been appointed as Financial Controller of the Company’s Belgium-based ‘Fuel Cell Power NV’ and will assume the same responsibilities for its Czech Republic-based subsidiary, ‘Fuel Cell Power s.r.o.’. Mr. Van Hout holds financial, legal and HR responsibility both companies.

Fuel Cell Power s.r.o. represents a strategic presence for AFCP in the Czech Republic, which is an important region given the Company owns and operates a manufacturing and production facility in Vlašim, a town in the Benešov District of the Central Bohemian Region of the Czech Republic. This facility will have the equipment, instrumentation and capabilities to accommodate future development of AFCP’s alkaline fuel cell prototypes as the Company drives forward on the path to commercialization.

Key Management Appointments

Mr. Van Hout’s role is critical as he is responsible for all aspects of the European development program and ongoing work in Europe. His past experience includes serving as CFO with General Motors Europe HQ and for organizations in the Fast-Moving Consumer Goods (FMCG) and services industry. Throughout his career, Mr. Van Hout has been involved with system implementation projects as well as mergers and acquisitions initiatives.

In addition to Mr. Van Hout’s appointment, AFCP also confirmed the Company has filled three critical technical roles. We are pleased to welcome Radek Kotoucek, Jan Zeman, and Tomáš Lhotka to the Fuel Cell Power organization. These individuals will be fundamental contributors to the Company’s realization of upcoming corporate milestones and patent application work.

Radek Kotoucek has joined Fuel Cell Power s.r.o. as an Electrochemical Engineer and Scientist, bringing a master’s degree in Organic Chemistry with a specialization in Explosives from the University of Pardubice. His career has been focused on research and development of alkaline fuel cell technology and electrodes. Most recently, Mr. Kotoucek was a Fuel Cell Consultant for ÚJV Rež, and previously served as IT Team Leader for Deufol Ceská Republika, a.s. Prior thereto, he was Project Manager for an alkaline fuel cell demo project at Baumann Technologie CZ, a.s., and previously held the roles of both General Manager and R&D Manager for Astris s.r.o.

Jan Zeman has assumed the role of Electrical Engineer and Balance of Plant (BOP) Designer with Fuel Cell Power s.r.o. He holds a master’s degree in Electronics and Applied Informatics from the Faculty of Electrical Engineering of the University of West Bohemia, Pilsen. His experience ranges from Software Developer at Deufol Ceská Republika a.s. for embedded devices suh as GSM Monitoring Devices and Vending Machines, to Programmer focused on creating control algorithms for packaging machines at VELTEKO s.r.o., and previously was the Project Technologist at Medical Technologies CA a.s. creating technological processes to support serial production.



Tomáš Lhotka joins the organization as Electrical Engineer and BOP Designer, bringing nearly 20 years of experience in electrical engineering. He has a master’s degree from the Czech Technical University in Prague from the Faculty of Electrical Engineering in Electronics. Prior to joining Fuel Cell Power s.r.o., Mr. Lhotka held the role of Electric Engineer at Deufol Ceská Republika, a.s. where he had primary responsibility for developing control systems and BOP of alkaline fuel cell generators. In addition, he has held several electrical engineering roles at companies including Baumann Technologie CZ a.s., Astris s.r.o. and Triapex, with his work being heavily weighted to alkaline fuel cell technology.

About Alkaline Fuel Cell Power Corp.


The Company is focused on the development, production and ultimate commercialization of micro-combined heat and power (“micro-CHP”) systems based on alkaline fuel cell technology. A fuel cell is a clean electrical power conversion/generation system, akin to small power stations that provide electricity and an equivalent amount of heat for various purposes. Based on hydrogen powered alkaline fuel cell technology, our technology offers an energy source that generates zero CO2 emissions with pure water as the only by-product, making it ideally suited for residential and small- to medium-sized power markets. We believe the Company is well positioned to become a positive contributor to the global demand for clean energy, particularly in Europe where demand outpaces supply, and current technology remains inadequate to meet market needs. Further information is available on our website at https://www.fuelcellpower.com/ and on our SEDAR profile at www.sedar.com. We encourage investors and other interested stakeholders to follow us on LinkedIn, Twitter, Facebook and Instagram. Our common shares are listed for trading on the NEO Exchange under the symbol “PWWR”.

For further information, please contact:

Gerard Sauer
Chairman of the Advisory Board
+3214574648
info@fuelcellpower.com
Cindy Gray
Investor Relations
+1 (403) 705-5076
info@5qir.com

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “achieve”. Forward-looking statements may include, but are not limited to, statements with respect to the Company’s technology, intellectual property, business plan, objectives and strategy.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


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