PTX Protonex Regs

 

TIDMPTX TIDMPTXU 
 
RNS Number : 5045L 
Protonex Technology Corporation 
07 May 2010 
 

 
 
 
 
FOR IMMEDIATE RELEASE 
 
 
7 May 2010 
 
                        Protonex Technology Corporation 
                          FURTHER TO STRATEGIC update 
 
DATELINE: SOUTHBOROUGH, MA. Protonex Technology Corporation ("Protonex" or "the 
Company"), (LSE AIM: PTX and PTXU), a leading provider of advanced fuel cell 
systems, today announces that, further to its Strategic Update announced on 9 
April 2010, the Company will be fully consolidating its Colorado Solid Oxide 
Fuel Cell (SOFC) operations into its Southborough, Massachusetts Headquarters. 
This consolidation effort has begun and is expected to be completed by August 
2010. 
 
This move is integral to the Company's recently communicated decision to 
accelerate the productisation of its SOFC platforms and will enable the Company 
to co-locate its SOFC technical team with its corporate product development and 
manufacturing teams located in Massachusetts.  It will also allow the Company to 
reduce operating costs associated with facilities and general overhead expenses. 
 
 
 
 
                                    - ENDS - 
 
Enquiries 
Protonex Technology Corporation                                           Tel: 
+1 508 490 9960 
Scott Pearson, Chief Executive Officer 
John Connolly, Chief Financial Officer 
 
Redleaf Communications Limited                                           Tel: 
+44 (0)20 7566 6700 
Press and Investor Relations 
  protonex@redleafpr.com 
Paul Dulieu 
 
Piper Jaffray Ltd.  Tel: +44 (0)20 3142 8700 
Nominated Adviser 
Jens Rosebrock 
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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