PTX Protonex Regs

 

TIDMPTX TIDMPTXU 
 
RNS Number : 8153F 
Protonex Technology Corporation 
20 January 2010 
 

 
 
 
 
 
 
FOR IMMEDIATE RELEASE 
 
 
January 20, 2010 
 
 
 
 
PROTONEX awarded $1.85 MILLION CONTRACT TO DEVELOP DEPLOYABLE 
 PORTABLE 
BATTERY CHARGER / APU systemS 
 
 
DATELINE: SOUTHBOROUGH, MA; Protonex Technology Corporation (LSE: AIM: PTX and 
PTXU), a leading provider of advanced fuel cell power systems today announces 
that, as anticipated in its results announcement of 13 January 2010, it has 
received a $1.85 million contract award from the U.S. Army CECOM, as part of the 
American Recovery and Reinvestment Act of 2009, to develop and deliver advanced 
portable battery charger / APU fuel cell systems. This contract award also 
includes three option phases which, if awarded, could increase the total value 
of this contract to $6.4 million and could include delivery of over 100 
production units. 
 
 
Under the terms of this five-month, phase one program, Protonex will develop the 
next-generation of its existing M250-CX platform by increasing its power output, 
integrating additional battery management and charging capabilities, 
reducing overall size and weight, and further ruggedizing the system for field 
use. At the conclusion of the phase one program, Protonex is expected to deliver 
multiple portable battery charger/APU systems to the U.S. Army for further 
testing and field use. 
 
 
Development of a next-generation system based on the existing 250-watt 
platform will provide the military with lightweight, extremely quiet and fuel 
efficient power systems that can be used as portable field battery chargers or 
auxiliary power units (APUs).  Use of the M250-CX could enable new mission 
scenarios and allow a switch to rechargeable batteries in the field, thereby 
reducing overall weight and saving significantly on the hundreds of millions of 
dollars spent annually on non-rechargeable batteries in the field by the US 
Department of Defense. 
 
 
Commenting on the contract, Scott Pearson, Chief Executive of Protonex said: 
 
 
"With this significant award, our development work on the M250 platform of 
products has been supported to date by a total of $9.6 million in contracts from 
the U.S. Army and the U.S. Department of Defense. This contract represents 
continuing support from our military customers and validates the need for 
alternative power solutions for U.S. soldiers in the field where batteries and 
generators fail to provide acceptable performance." 
 
 
"In addition, the potential follow-on funding contemplated by the three program 
options could pave the way to low volume procurement of the M250-CX systems 
within the U.S. Army and other military and government agencies." 
 
 
 
 
Protonex' M250-CX system is a lightweight, 250-watt portable power system 
designed to meet the stringent demands of a wide range of military battery 
charging and auxiliary power unit applications. The unique design combines 
advances in fuel cell energy conversion and battery charging technology into one 
complete product solution to provide military battery charging and 28V auxiliary 
power with extremely low weight, noise, and thermal signature. 
 
 
 
 
- 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 Relationsprotonex@redleafpr.com 
Samantha Robbins 
Paul Dulieu 
Michael Ward 
 
 
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 
 
 CNTGGUGPGUPUPWB 
 

Protonex Technology (LSE:PTX)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024

Protonex Technology (LSE:PTX)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024