Proton Power Systems (LSE:PPS)
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RNS Number : 0503V
Proton Power Systems PLC
04 April 2019
Proton Power Systems plc
("Proton" or the "Company")
Confirmed order for 15 hydrogen powered fuel cells
Proton Power Systems plc (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems, announces the receipt of a confirmed order from ebe EUROPA of Memmingen ("ebe"), Germany, for 15 hydrogen powered fuel cells of 60kW of generating capacity each. ebe is an integrator and distributor of electric buses. The ultimate customers are four city councils in Germany (Frankfurt am Main, Mainz, Muenster and Wiesbaden). The total value of the order is EUR 4.1 million, with secured payment conditions including a further eight years warranty. It is expected that the 15 fuel cells will be delivered within the next 12 months.
The order is a result of the first tender under the European funded JIVE PROJECT. The project consists of two tenders, together 290 buses will be deployed within the next two years.
Currently three companies from the European mainland and two from the UK qualify for JIVE1&2.
Proton is already in discussion with the other major component suppliers to ebe to achieve delivery within the next few months.
Dr. Nahab, CEO, commented: "We are delighted with this order as it further confirms the European appetite for cleaner cities and is a clear indication for higher demand for hydrogen as a clean energy source."
For further information:
Proton Power Systems plc
Dr Faiz Nahab, CEO
Helmut Gierse, Chairman
Sebastian Goldner, COO
Roman Kotlarzewski, CFO Tel: +49 (0) 173 189
Manfred Limbrunner, Director Sales 0923
Stockdale Securities Limited
Nominated adviser and broker Tel: +44 (0) 20 7601
Antonio Bossi / David Coaten www.stockdalesecurities.com
About Proton Motor Fuel Cell GmbH
Proton Motor is an expert in Power Solutions using CleanTech technologies like industrial fuel cells, fuel cell and hybrid systems with more than 20 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 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).
About ebe EUROPA GmbH
ebe EUROPA is an integrator and distributor of buses, with a specialisation in electric buses.
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(END) Dow Jones Newswires
April 04, 2019 02:00 ET (06:00 GMT)