Alkaline Fuel Cell Power Corp. (NEO:PWWR.AQN) (PWWR) said it has appointed J. Michael Sullivan as a strategic consultant to the company.
PWWR, which is soon changing its name to Cleantech Power, noted that Sullivan is an energy sector executive with more than 35 years of experience in energy infrastructure project and corporate finance-related businesses.
He has previously served as CEO and CFO in resource extraction, energy processing, and renewable energy sectors, and has been responsible for over $3 billion in capital investment in infrastructure projects. Sullivan also has extensive experience in structured financing vehicles, including flow-through share offerings in clean technologies and hydrogen-based opportunities.
“I am very pleased to add Mike Sullivan as a strategic consultant to the company. I expect his experience in structured financial vehicles, including flow-through offerings for cleantech and hydrogen-based opportunities will be a tremendous asset to PWWR,” said Frank Carnevale, CEO of PWWR in a statement.
The company said the appointment of Sullivan is part of its efforts to strengthen its management team and position itself as a leader in the cleantech and hydrogen fuel cell sectors.
As part of the appointment, PWWR has granted Sullivan an aggregate of 600,000 restricted share units (RSU), which will vest in accordance with the terms of the consulting agreement and the company's 2021 RSU Plan. Each RSU will entitle the holder to receive one common share in PWWR upon vesting.
PWWR is a diversified investment platform focused on developing affordable, renewable, and reliable energy assets and cleantech. The company's goal is to commercialize its advanced hydrogen fuel cell technology to meet the massive global market need and generate compelling returns for investors.
Contact the author at jon.hopkins@proactiveinvestors.com