Strategy update including Boa

RNS Number : 1025X

Proton Power Systems PLC

01 December 2010

 



Press release

01 December 2010

Proton Power Systems plc

("Proton Power" or "the Group")

Strategy update including Board Changes

Proton Power Systems plc (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems, is pleased to announce a deeper strategic focus on commercialisation, business development and stakeholder communications through new responsibilities in the management team.  Dr Christian Meyne, currently Chief Operating Officer, becomes Chief Executive Officer with immediate effect, while Thomas Melczer will now focus on Business Development and Investor Relations, remaining a Board Director of the Group.

Dr Christian Meyne is well positioned to take the helm of Proton Power. Since joining the Company in April 2009, he has been responsible for Proton Motor's production processes as well as for the technical production lines necessary for both current and future production levels. John Wall, Chairman of Proton Power, comments on Christian's promotion: "As Proton Power enters larger scale commercial agreements and production is increased, Christian's experience on the ground will be invaluable in developing the Company's strategy to meet customer demands."

Thomas Melczer has significant experience in the energy sector which has been invaluable to Proton since he joined as CEO in July 2008. His deep knowledge of fuel cells, and experience in running large technology companies will be vital as the Company seeks to focus on strengthening business development and commercial partners.

John Wall continues: "The Company is focused on commercial opportunities to drive the business forward, and, to this end, we are delighted with the refocusing within the Board. 

"Thomas' new role, which will be based in both Germany and, increasingly, London, will help Proton Power increase its visibility within the investor community and keep our shareholder base appraised of progress as we enter this important phase of growth.

"I have great confidence in both Christian and Thomas and congratulate them on their new roles. I look forward to continuing to work with them both in what will be an exciting time for Proton Power."

- Ends -

For further information:

Proton Power Systems plc
John Wall, Chairman	Tel: [phone]
Dr Christian Meyne, CEO	Tel: [phone]

Arbuthnot Securities Limited
Tom Griffiths / Antonio Bossi	Tel: [phone]
	www.arbuthnotsecurities.co.uk

Media enquiries:

Abchurch Communications Limited
Heather Salmond / Justin Heath / Claire Dickinson	Tel: [phone]
[e-mail]	www.abchurch-group.com

Notes to Editors

 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 is targeting a global opportunity, accessing a broad range of markets through partnerships with leading OEMs such as Skoda Electric and Karmann.

Motive applications include forklifts, city buses, municipal utility vehicles and ferries; 'back-to-base' markets which can readily utilise the modularity and scalability of the Company's hydrogen fuel cell systems, and which do not depend on the existence of a ubiquitous hydrogen infrastructure, thereby facilitating swift commercialisation. 

Stationary applications focus on the Uninterruptible Power Supply 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. Further market potential lies in industrial and chemical processing plants, where the otherwise wasted hydrogen by-product can be harnessed for producing local power.

Through its wholly owned subsidiary, Proton Motor Fuel Cell GmbH ("Proton Motor"), the Group has developed and produced a fuel cell module that can be integrated with energy storage media to create a hybrid fuel cell system. A proprietary, intelligent energy management software balances the power output across the fuel cell storage unit(s) to maximise efficiency and improve power delivery.  The system thus boasts lower fuel consumption and more consistent levels of power delivery than conventional diesel/combustion engine or fuel cell-only systems, in addition to 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, where its manufacturing facility is based.

 

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