PTXU Protonex

 

TIDMPTX TIDMPTXU 
 
RNS Number : 1417T 
Protonex Technology Corporation 
02 June 2009 
 

 
 
 
 
 
 
FOR IMMEDIATE RELEASE 
 
 
June 2, 2009 
 
 
 
 
PROTONEX RECEIVEs Additional $500,000 to Extend Capabilities of Unmanned Aerial 
Vehicle Propulsion Systems 
 
 
DATELINE: SOUTHBOROUGH, MA; Protonex Technology Corporation (LSE: AIM: PTX and 
PTXU), a leading provider of advanced fuel cell power systems for portable, 
remote and mobile applications, today announced that it has received an 
additional $500,000 contract award from the U.S. Naval Research Laboratory (NRL) 
for advanced development of high power fuel cell systems for small unmanned 
aerial vehicles (UAVs). This award is an extension of an existing contract with 
the NRL and will focus on incorporating and testing Protonex' advanced fuel cell 
power system within a tactical UAV. 
 
 
Development work under this program will concentrate on advancing the technical 
readiness of the company's UAV fuel cell platform through design improvements 
and stringent testing. The advanced system will be integrated into a new NRL air 
vehicle designed specifically for long endurance. The resulting UAV, powered by 
the Protonex fuel cell system, will be targeted at tactical missions and is 
expected to provide high efficiency and a very low noise profile. 
 
 
This program expands upon a series of efforts by Protonex to transition its fuel 
cell power systems into fieldable UAVs.  At present, battery-powered electric 
UAVs are limited to one to three hours of flight.  Protonex power systems, 
integrated into other small UAVs, have already demonstrated up to four times the 
flight endurance capability of advanced batteries.  With the introduction of 
cutting-edge fuel cell propulsion systems from Protonex, critical missions such 
as persistent surveillance, search and rescue, chemical-biological monitoring, 
and other long-endurance specialty missions can be achieved by smaller, more 
flexible, and cost-effective UAVs. 
 
 
"We've had great success in our previous collaborations with the NRL, and the 
expansion of this UAV program validates those results," stated Dr. Paul Osenar, 
Chief Technology Officer, Protonex. "Protonex looks forward to transitioning 
these advanced systems into fielded military products in conjunction with the 
NRL and other unmanned aircraft system integrators." 
 
 
 
 
- ENDS - 
 
 
Enquiries 
Protonex Technology Corporation Tel: +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 
 
 
Piper Jaffray Ltd.  Tel: +44 (0)20 3142 8700 
Nominated Adviser 
Michael Covington 
James Steel 
 
 
 
 
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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