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Alkaline Fuel Cell Power Announces Appointment of Carmine Marcello as Advisor

By June 17, 2022 4   min read  (590 words)

June 17, 2022 |

Fuel Cells Works, Alkaline Fuel Cell Power Announces Appointment of Carmine Marcello as Advisor

TORONTO Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) (“AFCP” or the “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.

From 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.

In 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.

“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.”

Concurrently, 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.

Corporate Update

Pursuant 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.

The Stock Options vest as follows:

Fuel Cells Works, Alkaline Fuel Cell Power Announces Appointment of Carmine Marcello as AdvisorABOUT ALKALINE FUEL CELL POWER CORP. (NEO: PWWR)

AFCP is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring ‘Power 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.

AFCP 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.

  • 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 CO2 emissions. Fuel Cell Power NV is working through milestones to deliver a commercialized alkaline fuel cell in 2024.
  • 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.

AFCP is well positioned to deliver ‘Power to the People’ in the global energy transition while offering a diversified cleantech growth platform for investors.

Further information is available on  the Company website at https://www.fuelcellpower.com/, and the Company encourages investors and other interested stakeholders to follow it on:

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 symbol “77R” and “WKN A3CTYF”.

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