In his new role, Stephan Laux will focus on negotiating and securing contracts with retail sales outlets, manufacturers, and industry organizations
It also retained First Marketing GmbH based in Heidelberg, Germany, to provide marketing services focused on the European markets
Alkaline Fuel Cell Power Corp, which is focused on the design, development and commercialization of alkaline fuel cell heat and power systems, announced that Stephan Laux has joined its subsidiary Fuel Cell Power NV, as the Business Development Director.
The Vancouver-based group said that Laux will report to the company’s COO Jo Verstappen, who also serves as the CEO of the AFCP subsidiary company.
AFCP noted that Laux, who will be based in Belgium, will play an “integral role” as AFCP and its subsidiary companies expand their market reach, “secure commercial arrangements with retail sales outlets of boiler manufacturers” and establish technical and industry collaborations. He will be responsible for all global business development activities, including the development and execution of AFCP’s sales, commercial and customer strategy, as well as focusing on margin optimization.
Laux will provide strong commercial and sales leadership to AFCP and its subsidiaries, striving to ensure the delivery of near-term product needs as well as helping to shape the longer-term market and business development, said the company. A key area of focus for him will be to establish strategic partners for the company, including real estate developers and master planners, who build integrated communities that function ‘off the grid’ and could rely on AFCP’s micro-combined heat and power (micro-CHP) systems based on alkaline fuel cell technology and powered by hydrogen.
“Sustainable and emissions-free future”
“Hydrogen is a key component in the transition towards a net-zero emission goal for 2050 as it represents the most promising energy carrier for a sustainable future,” Laux said in a statement. “I am very excited to be part of this organization as we do our part to shape a sustainable and emissions-free future.”
Laux previously worked at () UOP, where his passion for hydrogen was born, as he served in progressively more senior roles from Process Engineer through to his final role as Principal Sales Account Manager, Hydrogen. During his 22-year tenure at () UOP, Laux designed start-up technologies which included hydrogen purification systems, predominantly for the oil and gas industry.
“Laux has helped clients worldwide improve their hydrogen networks in order to meet the evolving challenges facing this industry,” said the company. Prior to joining (), Laux studied chemical engineering (Dipl. Ing.) at RWTH University in Aachen, Germany.
Separately, AFCP said that it has retained First Marketing GmbH, a leading investor relations and marketing firm based in Heidelberg, Germany, to provide marketing services focused on the European markets. Under the agreement, First Marketing GmbH will provide content distribution, translation, and advertising services in Europe. AFCP has agreed to pay up to €1.5 million over a nine-month period for digital, online, and traditional media content, graphics, and artwork. It will also launch market awareness programs across the European Union.
“With concerns about the continued impact of COVID-19, the company may not be able to attend trade shows, sponsorship events or in-person roadshows and has elected to allocate those budgets to digital efforts to ensure AFCP is able to build awareness,” said the company.
Three principals of First Marketing GmbH hold a total of 2,825,000 incentive stock options with an exercise price of $0.33 per share that expire on April 17, 2026. The service provider is arm’s length to the company, but its three principals previously bought shares representing around 19.6% of AFCP’s issued and outstanding share capital.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive