The Conversation (0)
ALKALINE FUEL CELL POWER CORP. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) ( " AFCP " or theĀ " Company " ) a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech, is pleased to announce the appointment of Carmine Marcello to the role of Advisor.
ĀA photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/49619771-fe17-4039-8543-cbfe538a0245 Ā
ĀFrom 2013 to 2015, Carmine served as Chief Executive Officer of Hydro One Inc., one of Canada's largest transmission and distribution companies, with a market cap of over $20 billion and over $23 billion in assets. He served in numerous executive roles from 2003, including Asset Management and Strategy and Planning. Carmine currently advises governments, utilities and cleantech startups across the Middle East, North America and the Caribbean.
ĀIn his role as Advisor, Carmine brings extensive asset development and management expertise to guide AFCP as the Company establishes the development and operations of energy assets.
ĀĀ "As AFCP embarks on the growth of PWWR Flow's development, ownership and operations of combined heat and power assets, we are thrilled to include the extensive capabilities of Mr. Marcello to advise us on how we scale and optimize," commented Frank Carnevale, Chief Executive Officer. "Carmine brings hands-on operational experience with business scale-ups, international micro-grid involvement, and the optimal level of mentorship required for us to succeed." Ā
ĀConcurrently, the Company also confirms the resignation of one of its early Advisors, Gerard Sauer, effective June 13, 2022. Mr. Sauer was instrumental in the development of the Company's fuel cell since 2021 and AFCP thanks him for his contributions.
ĀĀ Corporate Update Ā
ĀPursuant to a consultant agreement dated June 13, 2022 (the " Consulting Agreement "), the Company also announces that it has granted 600,000 stock options to an arm's length consultant (the " Consultant ") (" Stock Option "). Each Stock Option is exercisable for a period of five (5) years at an exercise price of $0.15 per common share of the Company.
ĀThe Stock Options vest as follows:
Ā| 100,000 6 months from the date the Consultant accepts the position and the Consulting Agreement is executed by the Company | Ā
| 100,000 12 months from the date the Consultant accepts the position and the Consulting Agreement is executed by the Company | Ā
| 200,000 18 months from the date the Consultant accepts the position and the Consulting Agreement is executed by the Company | Ā
| 200,000 24 months from the date the Consultant accepts the position and the Consulting Agreement is executed by the Company | Ā
| Ā | Ā
Ā ABOUT ALKALINE FUEL CELL POWER CORP. (NEO: PWWR) Ā
ĀAFCP is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring āPower to the People' today, combining a stable revenue stream with a future-forward vision to commercialize our advanced hydrogen fuel cell technology to meet the massive global market need, and ultimately generate compelling returns for investors.
ĀAFCP operates through two global entities: Fuel Cell Power NV, a wholly owned subsidiary in Belgium, and PWWR Flow Streams ("PWWR Flow"), an AFCP brand in Canada.
Ā- Ā Fuel Cell Power NV is focused on the development, production and commercialization of micro-combined heat and power ("micro-CHP") systems based on advanced alkaline fuel cell technology that generates zero CO 2 emissions. Fuel Cell Power NV is working through milestones to deliver a commercialized alkaline fuel cell in 2024. Ā
- Ā PWWR Flow is focused on the development, ownership and operations of combined heat and power ("CHP") assets. PWWR Flow assets deliver efficiency improvements of over 20% with reduced costs to customers in multi-residential and commercial applications. PWWR Flow has contracted existing CHP assets in Toronto, Canada, and has an additional pipeline of potential contracts valued at over $50 million currently in development. Ā
AFCP is well positioned to deliver āPower to the People' in the global energy transition while offering a diversified cleantech growth platform for investors.
ĀFurther information is available onĀ the Company website at https://www.fuelcellpower.com/ ,Ā and the Company encourages investors and other interested stakeholders to follow it on:
ĀĀ LinkedIn , Twitter , Facebook , Instagram and YouTube . Common shares are listed for trading on the NEO Exchange ("NEO") under the symbol " PWWR ", the OTC Venture Exchange "OTCQB" under the symbol " ALKFF " and on the Frankfurt Exchange under symbolĀ " 77R "Ā andĀ " WKN A3CTYF ".
ĀFor further information, please contact:
ĀĀ Frank Carnevale Ā
Chief Executive Officer Ā
+1 (647) 531-8264 Ā
Ā Ā fcarnevale@fuelcellpower.com Ā Ā Ā
Ā Ā Forward-Looking Information Ā Ā
ĀĀ This news release contains forwardālooking statements and forwardālooking 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 forwardālooking 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. Ā
ĀĀ 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 forwardālooking 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 forwardālooking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forwardālooking 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 forwardālooking 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. Ā
ĀNEITHER 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.
ĀĀ Ā 
Ā
