Feasibility study contract

RNS Number : 3077Y

Proton Power Systems PLC

23 January 2014

 



23 January 2014

Proton Power Systems plc

("Proton Power" or the "Company")

Proton Power has been contracted to perform a feasibility study for a fuel cell maritime application in Asia Pacific

Proton Power is pleased to announce that it has been contracted to undertake a feasibility study for a maritime fuel cell application from an Asia Pacific based customer. The contract value is Euro 297,000. The study is aimed at generating on board power and will be finalised by September 2014 and when completed should result in an order for several hundred units.

Proton Power has considerable know how in maritime based fuel cell applications having operated the Alsterwasser tourist boat in Hamburg with a Proton fuel cell system for the last five years.

John Wall, Chairman of Proton, said: "This will be a milestone for us. Our know how in maritime fuel cell applications is proven and allows emission free operation. We look forward to receiving a significant order once the feasibility study is completed.

The demand for emission free systems in Asia Pacific is growing dramatically and our expertise will allow solutions in maritime as well as mobile and stationary products for the Asia Pacific markets."

- Ends -

For further information:

Proton Power Systems plc
John Wall, Chairman	Tel: [phone]
Achim Loecher, FD	Tel: [phone]
	www.protonpowersystems.com

Westhouse Securities Limited Nominated adviser and broker	Tel: [phone]
Antonio Bossi	www.westhousesecurities.com

About Proton Motor Fuel Cell GmbH

Proton Motor is an expert in industrial fuel cells, fuel cell and hybrid systems with more than 17 years of experience in this sector.  Based in Puchheim near Munich, Proton Motor offers complete fuel cell and hybrid systems from a single source - from the development and production through the implementation of customized solutions.  The focus of Proton Motor is on back-to-base, for example, for mobile, marine and stationary solutions applications.  The product portfolio consists of base-fuel cell systems, standard complete systems, as well as customized systems.

Proton Motor acquired SPower GmbH in 2013. Established in 2007, SPower serves IT, Telecoms, public infrastructure and healthcare customers in Germany, Europe and Middle East with power supply solutions for DC and AC power demand. In addition to power supply, SPower also offers solutions for Solar Systems as well as a new product line for Solar Energy Storage.

Proton Motor Fuel Cells GmbH is wholly owned subsidiary of Proton Power Systems plc.  The Company has been listed on the London Stock Exchange since October 2006 (code: PPS).

 

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