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AFC Energy Plc - Cancellation of Convertible Loan Note Facility

RNS Number : 0293F
AFC Energy Plc
12 November 2020
 

12 November 2020

AFC Energy PLC

("AFC Energy" or the "Company")

Termination of Convertible Loan Note Facility

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, announces that the Board of Directors, having reviewed the Company's funding requirements following the £31.6 million fundraise earlier in the year, has agreed with Thalion Global Group LLC to terminate with immediate effect the financing facility the Company has in the form of the £ 4 million convertible loan note facility announced on 12 April 2019. No drawdowns were made on the facility.

Adam Bond, AFC Energy's Chief Executive Officer, said " I wish to thank Thalion Global Group for the confidence shown in the Company's technology and business plan last year, giving us the financial stability, in uncertain economic times, to continue delivering on our strategy and securing first commercial orders alongside a very successful fund raise earlier this year". 

 

For further information, please contact:

AFC Energy plc

Adam Bond (Chief Executive Officer) 

+44 (0) 14 8327 6726

 

 

WH Ireland Nominated Adviser and Joint Broker

Mike Coe (Corporate Finance)

Jasper Berry (Corporate Broking)

+44 (0) 117 945 3470

 

 

M C Peat & Co LLP Joint Broker

Charlie Peat

+44 (0) 20 7104 2334

 

 

Tuva Partners - Public Relations

Alex Brooks   

+44 (0) 7900 205 460

 

About AFC Energy

AFC Energy plc is commercialising a scalable alkaline fuel cell system, to provide clean electricity for on and off grid applications. The technology, pioneered over the past twelve years in the UK, is now deployable in electric vehicle chargers, off-grid decentralised power systems and industrial gas plants as part of a portfolio approach to the decarbonisation of local electricity needs.

 

 

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Market: AIM
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