2023-01-25 21:25:00

Alkaline Fuel Cell Power Corp. Announces AGM Results

Logo GlobeNewswire
GlobeNewswire

TORONTO, Jan. 25, 2023 (GLOBE NEWSWIRE) -- 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 results of voting at its annual general meeting (AGM) of shareholders which was held on January25, 2023 in person in Vancouver, British Columbia and by conference call (the Meeting). There were 19 shareholders represented in person or by proxy at the Meeting holding 2,423,369 common shares, representing 1.39% of the Companys total issued and outstanding common shares as at the record date for the Meeting. The voting results for each matter presented at the Meeting is set out below:

Number of Directors

The board of directors received a written resignation from Joel Dumaresq on January 12, 2023. Therefor Management proposed to determine the number of seats on the board of directors be set at four (4) instead of five (5) as presented in the Companys information circulated dated December 21, 2022 and the resolution be amended accordingly.

The resolution to set the number of directors of the Company at four (4) was approved by the shareholders who voted in respect of the resolution present or represented by proxy at the Meeting.

Voting results are set out below:

Votes For Votes Against
# % # %
2,422,814 99.977% 555 0.023%

Election of Directors

Each of the nominees for election as director listed in the Companys management information circular dated December21, 2022 were elected as directors of the Company for the ensuing year until their successors are elected or appointed. Voting results are set out below:

Votes For Votes Withheld
# % # %
Troy Grant 2,344,214 96.734 % 79,155 3.266 %
Maciej Lis 2,422,214 99.952 % 1,155 0.048 %
Matthew Fish 2,419,214 99.829 % 4,155 0.171 %
Richard Lu 2,420,214 99.870 % 3,155 0.130 %

Appointment of Auditors

Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants were reappointed as Auditors of the Company for the ensuing year with their remuneration to be fixed by the Board of Directors. Voting results are set out below:

Votes For Votes Withheld
# % # %
2,419,089 99.823% 4,280 0.177%

Approval of Other Matters

The resolution to transact such other business that may be brought properly before the Meeting and any adjournment or postponement of the Meeting. Voting results are set out below:

Votes For Votes Against
# % # %
2,344,689 96.753% 78,680 3.247%

Following the AGM and the resignation of Joel Dumaresq from the Companys Board of Directors, the Audit Committee will be comprised of Troy Grant (Chair) Maciej Lis and Richard Lu. In addition, the Compensation Committee will be comprised of Matthew Fish (Chair), Maciej Lis and Troy Grant.

ABOUT 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 and off-grid and back-up power generators 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 under the symbol PWWR, the OTC Venture Exchange OTCQB under the symbol ALKFF and on the Frankfurt Exchange under symbol 77R and WKN A3CTYF.

For further information, please contact:

Frank Carnevale
Chief Executive Officer
+1 (647) 531-8264
fcarnevale@fuelcellpower.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 in this news release may include, but are not limited to, the issuance of RSUs, the vesting of the RSUs, statements with respect to the Companys 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.


Continue read on globenewswire.com

Logo GlobeNewswire
TechnologyPress Release2023-01-24 22:06:00
TORONTO, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) ("AFCP" or the "Company"),...

Logo Benzinga
Business / FinanceBy Business Wire2023-01-25 12:10:00
X-Energy Reactor Company, LLC ("X-energy" or the "Company"), a leading developer of advanced small modular nuclear reactors and fuel technology for clean...

Logo NewsFileCorp
Press Release2023-01-25 12:30:00
St. Albert, Alberta--(Newsfile Corp. - January 25, 2023) - Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the " Company " or " Enterprise "). Enterprise, a...

Logo GlobeNewswire
HOUSTON, Jan. 24, 2023 (GLOBE NEWSWIRE) -- KA Fund Advisors, LLC (Kayne Anderson), which serves as the adviser to Kayne Anderson Energy Infrastructure Fund,...

Logo GlobeNewswire
TechnologyPress Release2023-01-19 21:05:00
TORONTO, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) ( AFCP or the Company ), a...

Logo PR Newswire
NASHVILLE, Tenn., Jan. 25, 2023 /PRNewswire/ -- AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) today announced that Fourth Quarter 2022...

Logo PR Newswire
NASHVILLE, Tenn., Jan. 25, 2023 /PRNewswire/ -- AkzoNobel (AKZA; AKZOY) is materializing its ambition of reducing the company's carbon emissions in...

Logo PR Newswire
The ~$42 million community solar portfolio totals 44 MWdc in Maine, Minnesota and Maryland SAN FRANCISCO, Jan. 25, 2023 /PRNewswire/ -- Foss & Company, a...

Logo Benzinga
Business / FinanceBy Benzinga Insights2023-01-25 15:02:04
Alaska Air Group ALK is set to give its latest quarterly earnings report on Thursday, 2023-01-26. Here's what investors need to know before the announcement....

Logo PR Newswire
AutoPress Release2023-01-24 21:45:00
EDISON, N.J., Jan. 24, 2023 /PRNewswire/ -- NAFA Fleet Management Association (NAFA), the vehicle fleet industry's largest membership association, today...

Logo Benzinga
Business / FinanceBy Business Wire2023-01-25 11:40:00
OWL Services, a premier sales, installation, program management, compliance, and service partner to industrial, commercial fleet, and electrical vehicle...

Logo Nasdaq
Business / FinanceBy Rtt News2023-01-25 13:00:07
(RTTNews) - NextEra Energy, Inc. (NEE) & NextEra Energy Partners, LP (NEP) will host a conference call at 9:00 AM ET on January 25, 2023, to discuss Q4...

Logo Benzinga
Business / FinanceBy Globe Newswire2023-01-25 07:00:00
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES CALGARY, Alberta, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Prospera Energy...

Logo PR Newswire
TechnologyPress Release2023-01-25 13:00:00
BEVERLY, Mass., Jan. 25, 2023 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS), a leading supplier of enabling ion implantation solutions for the...

Logo PR Newswire
PHOENIX, Jan. 25, 2023 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and...

Logo Nasdaq
Business / FinanceBy Mt Newswires2023-01-25 14:19:35
Energy stocks were leaning lower premarket Wednesday with the Energy Select Sector SPDR Fund ( XLE ) declining by 0.38% recently. The United States Oil Fund...

Logo PR Newswire
JUNO BEACH, Fla., Jan. 25, 2023 /PRNewswire/ -- NextEra Energy Partners, LP (NYSE: NEP) has posted its fourth-quarter and full-year 2022 financial results in...

Logo PR Newswire
NEW YORK, Jan. 24, 2023 /PRNewswire/ -- Moore Kuehn, PLLC, a law firm focusing in securities litigation located on Wall Street in downtown New York City, is...

Logo PR Newswire
NEW YORK, Jan. 24, 2023 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE: ED) plans to report its 2022 earnings on February 16, 2023 after the...