Service contract with ATG

RNS Number : 6774S

Proton Power Systems PLC

24 November 2011

 



Press Release

24 November 2011

Proton Power Systems plc

("Proton Power" or  the "Group")

Service contract with ATG

Proton Power Systems plc (AIM:PPS), a leading designer, developer and producer of fuel cells and fuel cell electric hybrid systems, is pleased to announce that its wholly owned subsidiary, Proton Motor Fuel Cell GmbH ("the Company"), has been awarded a service contract from the Hamburg-based tourist ferry operator ATG Alster-Touristik GmbH ("ATG"), which operates within its fleet the world's first Hydrogen powered ferry boat, the 'Alsterwasser'.  The 'Alsterwasser', which is capable of carrying more than 100 passengers, has been operating on a daily basis since the beginning of the 2011 summer season without any technical problems.  ATG has now signed a regular service contract for the Hydrogen Fuel Cell system with the Company.

Commenting on the ATG service contract, Dr. Faiz Nahab, CEO of Proton Power, said: "We see this service contract as an extremely important step forward in our corporate development.  The 'Alsterwasser' is no longer a test application for new technologies as it is now a regular ship which has operated effectively during the Summer season and is proof that the Group's technology is capable of performing on a daily basis without special maintenance or support.  We are extremely pleased to have signed this service contract with ATG and it clearly demonstrates the reliability of our technology.  We are confident that this contract will lead us towards other projects of a similar nature to the 'Alsterwasser'."

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For further information:

Proton Power Systems plc
John Wall, Chairman	Tel: [phone]
Achim Loecher, CFO	Tel: [phone]
Thomas Melczer, Investor Relation	Tel: [phone]
	www.protonpowersystems.com

Arbuthnot Securities Limited
Tom Griffiths / Antonio Bossi	Tel: [phone]
	www.arbuthnotsecurities.co.uk
Allenby Capital Limited Dr. Tom McColm	Tel:[phone]
	www.allenbycapital.com

Media enquiries:

Abchurch Communications Limited
Ashleigh Lezard / Jamie Hooper	Tel: [phone]
[e-mail]	www.abchurch-group.com

About Proton Power Systems plc

Proton Power Systems plc is a developer and manufacturer of fuel cells and fuel cell hybrid systems for motive and stationary power supply.  Its sales-driven strategy focuses on identifying applications with the greatest market needs and supplying large volumes of cost-competitive systems to fulfil those needs.  Proton Power is gaining access to a broad range of markets through partnerships with leading OEMs such as Skoda Electric and Smith Electric Vehicles, in addition to contract manufacturers such as Deutsche Mechatronics.

Proton Power's motive applications include forklifts, city buses, municipal utility vehicles, commercial vehicles and ferries.  Stationary applications focus on the Uninterruptible Power Supply ("UPS") sector, where there is a large demand for mission-critical, grid-independent secure power supply in places such as telecommunications stations, data centres, hospitals, and power substations.

Through its wholly owned subsidiary, Proton Motor Fuel Cell GmbH ("Proton Motor"), the Group has developed and deployed fuel cell modules that can be integrated with energy storage media to create hybrid fuel cell systems.  Proprietary, intelligent energy management software balances the power output across the system to maximise efficiency and improve power delivery.  The system therefore boasts lower fuel consumption and more consistent levels of power delivery than conventional diesel/combustion engine or fuel cell-only systems, while producing zero harmful emissions.

Proton Power Systems plc was admitted to trading on AIM on 31 October 2006 and is incorporated in the UK.  Proton Motor has more than 15 years of experience in the fuel cell market and is located in Puchheim, near Munich, Germany.

www.protonpowersystems.com

 

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