PTX Protonex Regs

 

TIDMPTX TIDMPTXU 
 
RNS Number : 4204Z 
Protonex Technology Corporation 
22 September 2009 
 

 
 
 
 
 
 
FOR IMMEDIATE RELEASE 
 
 
September 22, 2009 
 
 
 
 
PROTONEX awarded $2.0 MILLION CONTRACT TO FURTHER develop 
 Solid oxide fuel 
cell power systemS 
 
 
DATELINE: SOUTHBOROUGH, MA; Protonex Technology Corporation (LSE: AIM: PTX and 
PTXU), a leading provider of advanced fuel cell power systems today announced 
that it has received a $2.0 million contract award from the U.S. Army to build, 
test and deliver solid oxide fuel cell (SOFC) power systems. This program will 
focus on advancing the robustness of Protonex' SOFC power systems operating on 
high-performance liquid fuels. 
 
 
This 12-month contract builds upon a prior program with the U.S. Army and will 
focus on system integration and 
testing in order to develop a fully integrated 
liquid fuel generator system.  At the conclusion of the program, Protonex is 
expected to deliver multiple liquid-fuelled SOFC power systems to the Army for 
further testing and evaluation. 
There is growing military and commercial interest in the use of common liquid 
fuels, including alternative or renewable fuels to reduce dependence on foreign 
oil. Solid oxide fuel cells, with their low emissions and high efficiency, are 
well-suited to generate electricity from these high-energy-density fuel sources. 
Fuel-flexible generators capable of operating on both traditional and 
alternative liquid fuels can provide highly efficient electricity generation 
from both today's transportation fuels and the biofuels of tomorrow. 
 
 
Development of these small SOFC systems will provide the military with 
lightweight, extremely quiet and fuel efficient 
power systems that can be used 
as auxiliary power units (APUs), portable generators or field battery chargers. 
With further anticipated improvements, Protonex' portable SOFC systems could 
save more than 60% of the weight of existing power solutions and when used to 
power equipment directly, the fuel cell systems offer potential savings of more 
than 80% of the weight burden of primary batteries. 
"We are pleased to have received this significant award from the U.S. Army," 
stated Dr. Jerry Martin, Vice President of SOFC Development for Protonex. "This 
additional program further validates the growing interest by the U.S. military 
to identify new power solutions for soldiers and vehicles. This program will 
allow us to accelerate the conversion of our SOFC systems to liquid fuels and 
further advance our leading-edge SOFC platforms for military and commercial 
markets." 
 
 
 
 
 
 
- ENDS - 
 
 
Enquiries 
Protonex Technology CorporationTel: +1 508 490 9960 
Scott Pearson, Chief Executive Officer 
Margaret Dorsheimer, Director of Marketing 
 
 
Redleaf Communications Limited     Tel: +44 (0)20 7566 6700 
Press and Investor Relations protonex@redleafpr.com 
Samantha Robbins 
Paul Dulieu 
 
 
Piper Jaffray Ltd.  Tel: +44 (0)20 3142 8700 
Nominated Adviser 
Michael Covington 
Rupert Winckler 
 
 
 
 
Notes to Editors 
 
 
About Protonex Technology Corporation 
www.protonex.com 
Protonex Technology Corporation develops and manufactures compact, lightweight 
and high- performance fuel cell systems for portable power applications in the 
100 to 1000-watt range. The Company's fuel cell systems are designed to meet the 
needs of military, commercial and consumer customers for off-grid applications 
underserved by existing technologies by providing customizable, stand-alone 
portable power solutions and systems that may be hybridized with existing power 
technologies. The Company is headquartered in Southborough, Massachusetts. 
 
 
 
 
This announcement includes statements which are, or may be deemed to be, 
"forward-looking statements". All statements other than statements of historical 
facts included in this announcement, including, without limitation, those 
regarding Protonex' financial position, business strategy, plans and objectives 
of management for future operations (including development plans and objectives 
relating to Protonex' products and services) are forward-looking statements. By 
their nature, such forward-looking statements involve known and unknown risks, 
uncertainties and other important factors that could cause the actual results, 
performance or achievements of Protonex to be materially different from future 
results, performance or achievements expressed or implied by such 
forward-looking statements. These factors include but are not limited to those 
described in the Admission Document issued in connection with the Company's 
admission to AIM. 
 
 
Forward-looking statements may and often do differ materially from actual 
results. Any forward-looking statements in this announcement speak only as at 
the date of this announcement and are subject to risks relating to future events 
and other risks, uncertainties and assumptions relation to Protonex' operations, 
results of operations, growth strategy and liquidity. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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