Letter of Intent Signed

RNS Number : 8283U

Proton Power Systems PLC

27 November 2019

 

Proton Power Systems plc

("Proton" or the "Company")

Letter of intent

Proton Power Systems plc (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems with a zero-carbon footprint, announces that further to the receipt of the order for €630K from APEX Energy Teterow GmbH ("APEX"), which was announced on 14 May 2019, it has signed a letter of intent ("LoI") with this customer. The LoI envisages concluding a frame agreement within a consortium, in order to provide 10 fuel cell containers with up to 150 kW fuel cell systems within a 2 year period commencing in 2020.

The LoI also includes the intention, at an appropriate timepoint in the future, to offer licensing agreements, whereby the licensees will produce Proton Fuel Cell containers with capacity of up to 500kW.

For further information:

Proton Power Systems plc
Dr Faiz Nahab, CEO Helmut Gierse, Chairman Sebastian Goldner, COO/CTO Roman Kotlarzewski, CFO Manfred Limbrunner, Director Sales and Marketing	Tel: [phone] www.protonpowersystems.com
Shore Capital Nominated adviser and broker
Antonio Bossi / David Coaten	Tel: [phone] www.shorecap.co.uk

About Proton Motor Fuel Cell GmbH

Proton Motor has more than 20 years of experience in Power Solutions using CleanTech technologies such as hydrogen fuel cells, fuel cell and hybrid systems with a zero carbon footprint.  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 quoted on the AIM market of the London Stock Exchange since October 2006 (code: PPS).

About APEX Energy Teterow GmbH

The APEX group, based in North Germany, specialises in the production and distribution of modular renewable energy storage solutions.

 

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