(Alliance News) - Pineapple Power Corp PLC said on Thursday it had reached agreements regarding provisional executive roles for its Ilios Hydrogen Canada Ltd investment.

Pineapple Power is a London-based special purpose acquisition company with an interest in the clean and renewable energy sector, whilst Ilios Hydrogen Canada is a Canadian-based developer of green hydrogen production plants.

The two companies have held discussions with a number of investment banks about the financing requirements for their corporate development plans, and about the appointment of a board of directors.

Pineapple Power announced that Graham Cooley will serve as non-executive chair, Peter Williams as non-executive director and Barry Cunliffe as chief financial officer & interim chief executive officer.

Graham Cooley was the CEO of ITM Power PLC, the first hydrogen related company on the London Stock Exchange, and was a founding member of the UK Government's Hydrogen Advisory Council.

Peter Williams was the group technology director and head of investor relations for INEOS Group Ltd, the London-based chemical company, after serving 11 years as the chief executive of INEOS Technologies Ltd.

Barry Cunliffe was the CFO & company secretary for ITM Power, was promoted to Managing Director of Motive Fuels Ltd and head of Aftersales, and is currently the interim finance director for a privately owned specialist retailer.

In November 2023, Pineapple Powers had entered into a non-binding agreement with Ilios Hydrogren Canada to acquire all its outstanding shares in an all-share transaction. No binding agreement has been reached yet.

Pineapple Power shares were flat at 2.74 pence each in London on Thursday afternoon.

By Emily Parsons, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.