Velocys appoints David Pummell as CEO

Velocys announced the appointment of David Pummell as chief executive officer with immediate effect.

The gas-to-liquids technology firm said Pummell joins from ACAL Energy, a private equity backed fuel cell technology group developing products for the automotive and stationary power sectors, where he was CEO.

Prior to this, Pummell was CEO of MAPS Technology, where he commercialised the technology leading to its subsequent acquisition by GE, before becoming CEO of Ceres Power Group, a developer of fuel cell micro-combined heat and power products.

Chairman Pierre Jungels said: “His extensive experience, complementary skill set and outstanding track record of commercialising technologies means that he is ideally positioned to drive forward the company's next phase of growth.

“David's appointment completes the company's strong and established senior management team and we all look forward to working with him going forward."

At 1107 GMT, Velocys shares were down 3% to 39.75p.