Proton Motor at The Hannover Industrial Fair 2012

RNS Number : 2218D

Proton Power Systems PLC

14 May 2012

Press Release

14 May 2012

Proton Power Systems plc

("Proton" or the "Company" or the "Group")

Proton Motor at The Hannover Industrial Fair 2012

Proton Power Systems plc (AIM:PPS), a leading designer, developer and producer of H₂ fuel cells and H₂ fuel cell electric hybrid systems, is proud to announce the successful first full integration of its fuel cell power and range extender system ("REX") into a Smith Electric Vehicle ("Smith") Newton™ all-electric commercial vehicle. This marks the completion of a joint project between Proton, Smith and The National Organization Hydrogen and Fuel Cell Technology ("NOW GmbH").

The Group identified the Newton truck as the most appropriate vehicle size to address a significant business opportunity for zero-emission vehicles in the logistics markets. REX has been fully integrated into the Newton truck without reducing the payload or cargo space. The total number of range-extended miles delivered by the system depend on the size of the integrated fuel cell system, the onboard storage capacity for hydrogen and the vehicle's drive cycle. The target is to allow an operator, based on the energy on board, to use the vehicle for all types of inner-city operation modes in regard to driving distance or single or multi shift operation. Overall trial results are positive and in-line with the Group's expectations.

Following its maiden presentation at Hannover Messe 2012, the Newton Truck is now available for testing by potential customers. The vehicle will also be presented in the forthcoming weeks at various official e-mobility events in Germany.

Production roll-out is planned during the second half of 2012 and the demand for light duty vehicles and inner-city buses, as additional possible applications, in Europe is estimated at 170,000 units per annum. The Company estimates their potential market share to be above 30% which constitutes at least 50,000 units per annum.

Commenting on this technological and commercial achievement, Faiz Francois Nahab Ph.D., Chief Executive Officer of Proton Power Systems, said: "We are extremely pleased with the positive responses received in Hannover. The Group is now ready to present the new hybrid vehicle to customers who will be able to test drive it. I wish to thank the teams at both Proton and Smith for their efforts in achieving this exciting milestone."

Robin Mackie, Chief Technology Officer at Smith, commented: "I am encouraged with the system performance and seamless integration of Proton's REX system in our Newton vehicle, which has the potential to allow our customers to expand their EV applications and increase the number of vehicles for potential conversion."

Dr. Klaus Bonhoff, Head of NOW GmbH: "We are delighted with the result and success of this collaboration between Proton Power Systems and Smith Electric Vehicles. The market introduction will further be supported by the NOW."

Rainer Bomba, Secretary of State for Transport, Building and Urban Development in Germany added: "I am very impressed with the REX enabled Newton Truck and I would like to present the vehicle to the top German logistic companies during a special event in Berlin. We will further support its commercial market introduction."

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