Proton Power Systems plc (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems, today announces the appointment of BHF Bank Frankfurt to seek additional international industrial investors for the Company.
Proton Power has made further progress in the period with delivery of commercial contracts in proven technology, strategic co-operations and building the sales pipeline for an increase in the order book. Further investment in the manufacturing capability has put the company in a very strong strategic position to capitalise in the marketplace and to deliver financial performance. Proton Power has strengthened its organisation to be able to deliver complete power supply solutions. Proton Power adds value to clients through fuel cell expertise and system solution and know-how.
Ian Peden, Chairman of Proton Power, commented: “the Company is seeking partners with international sales reach and experience in large scale manufacturing to take the Company to the next stage, satisfying the large demand for hydrogen fuel cells.
The idea is that the strategic partner and shareholder would be able to assist Proton Power with the scale-up required to satisfy the envisaged demand. Now is the right time to find additional investors and partners as the market demand is growing fast and Proton Power is taking the business to the next level. Proton Power, with the help of BHF Bank, is presently in discussions with many different corporations in Germany, Europe, China and USA.”
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We are pleased to report our unaudited results for the six months ended 30 June 2016.
Proton Power has made further progress in the period with delivery of commercial contracts in proven technology, strategic co- operations and building our sales pipeline for a rapid increase in our order book. Further investment in our manufacturing capability has put us in a very strong strategic position to capitalise in the marketplace and to deliver financial performance. We have strengthened our organisation to be able to deliver complete power supply solutions.
Proton Motor is a leading manufacturer of hydrogen fuel cells and fuel cell systems for mobile, maritime and stationary applications.
Proton Power Systems plc (AIM: PPS), a Clean Tech total power solution provider, uniquely the designer, developer and producer of fuel cells and fuel cell electric hybrid systems, announces that at the Company’s Annual General Meeting held on 1 June 2016 all resolutions put to shareholders were duly passed.
At the meeting Ian Peden, Chairman of Proton Power, said: „Proton has moved into the commercialisation phase during 2016 and beyond with a very strong €2.5m order book. The key strength of Proton Power is the „blue chip“ relationships we have with the major players in the clean power solutions industry. This will form the foundation of our future revenue streams. The recent signature of a seven year framework agreement shows the confidence in Proton Power’s technology and demonstrates its capability in clean tech power solutions.
As one of the leading clean tech provider’s in Europe, Proton Motor are thrilled to have received an order for a 75kVA containerized fuel cell stationary power system for the Orkney Islands on their Surf and Turf project.
The project involves generating hydrogen from wind and tidal energy and using it as the energy storage medium. The hydrogen is then used to provide electricity for the Orkney Islands harbour. The wind and seas around the Orkney Islands provide an abundance of renewable energy resources.
Through concerted efforts, communities like Orkney Islands are now starting to see the benefits of ownership of renewable power generation capacity. This project will see the Orkney Islands take a small, but important, step towards rising to the challenge of managing the limits of its energy infrastructure. This project will help unlock the constraints imposed by 20th century power cables and is a great demonstration of how our technology can help overcome the shortcomings of the local electricity grid.
Proton will provide the 75kVA containerized fuel cell stationary power system for a total contract value of more than €0.5 million to be delivered in 2016.
Faiz Francoise Nahab Ph.D., CEO of Proton, said: “This is a very important order for us. The fuel cell system is based on our 25kVA system, which is operated in a modular mode. The container has all necessary components to be connected to the local grid. Proton is responsible for the turn key delivery of the container. We hope to see more applications in this market sector and more islands like the Orkney Islands taking a proactive role. Proton expects a fast growing demand worldwide for this type of applications. Storing wind and solar energy is a big challenge and we have the right solution to use such green energy in stationary or mobile applications.“