THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA
A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO
BE IN THE PUBLIC DOMAIN.
29 October 2024
Proton Motor Power Systems
plc
("Proton Motor" or the
"Company")
Follow-up order from DB
Bahnbau Gruppe
Proton Motor Power Systems plc (AIM:
PPS), the designer, developer and producer of fuel cells and fuel
cell electric hybrid systems with a zero-carbon footprint, is
pleased to announce a further follow-up order, for a complete
hydrogen fuel cell emergency power system, from DB Bahnbau Gruppe
GmbH (the "Customer"), a
subsidiary of Deutsche Bahn AG, Germany's leading full-service
provider for rail infrastructure.
This follow-up order of the
Company's HyCabinet S48 fuel cell emergency power system has a
rated power output of 48 kVA and represents the 26th system ordered
by the Customer since the signing of the cooperation agreement
between Proton Motor and DB Bahnbau Gruppe GmbH in 2015 and the
third order under the Customer's brand name EnerRail.
As noted in the Company's
announcement on 22 August 2024 as well as 23 September 2024, Proton
Motor is in discussions with other potential sources of finance in
order to allow the Company to continue to operate beyond 31
December 2024. While funding discussions continue to remain
relatively early-stage in nature, it is anticipated that subject to
the satisfactory conclusion of such discussions, the order for the
Customer would be able to proceed for delivery in 2025. There is no
certainty that any such funding discussions will conclude nor as to
the timings or terms of such funding.
Image 1:
The components of the system
Image 2:
Onsite layout and installation of the railway control
centre
Dr. Faiz Nahab, CEO of Proton Motor,
said:
"We are pleased to receive this latest order
from DB Bahnbau Gruppe GmbH, which reaffirms their confidence in
our industry-leading hydrogen fuel cell technologies. We are
continuing to progress funding discussions with prospective
partners and are working hard to secure the resources necessary to
fulfil this order and future ones as well. We will provide
investors with an update regarding the progress of these funding
discussions in due course."
For
further information:
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Proton Motor Power Systems
Plc
|
|
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Dr Faiz Nahab,
CEO
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|
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Roman Kotlarzewski, CFO
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+49 (0) 173 189 0923
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www.protonpowersystems.com
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Allenby Capital
Limited
|
|
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Nominated Adviser &
Broker
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+44 (0) 20 3328 5656
|
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James Reeve / Vivek
Bhardwaj
|
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Celicourt Communications
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PR Adviser
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+44 (0) 20 7770 6424
/ protonmotor@celicourt.uk
|
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Mark Antelme / Philip
Dennis /
Charlie Denley-Myerson
|
|
About Proton Motor
Proton Motor has 25 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 develops and produces standard Products as well as
customised solutions. The focus of
Proton Motor is on stationary solutions, as well as heavy-duty,
marine and rail applications. The product portfolio consists
of base-fuel cell systems, standard complete, as well as customised
systems.
Proton Motor Fuel Cell GmbH is a
wholly owned subsidiary of Proton Motor Power Systems plc. The
Company has been quoted on the AIM market of the London Stock
Exchange since October 2006 (code: PPS).