REG - Proton Motor Power - Appointment of Non-Executive Director

Proton Motor Power SystemsAnnouncement

31/05/2023 07:00

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RNS Number : 0792B  Proton Motor Power Systems PLC  31 May 2023

31 May 2023

 

Proton Motor Power Systems plc

("Proton Motor" or the "Company")

 

Appointment of Non-Executive Director

 

 

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 the appointment of Mr. Ali Naini
to the Board of the Company as a Non-Executive Director with immediate effect.

Mr Naini is a co-founder and Managing Director of Turquoise International
Limited ("Turquoise"), www.turquoise.eu (http://www.turquoise.eu) , one of
Europe´s longest established financial advisers and investors in climate
technologies. His experience includes: the set up and management of the two
ERDF-backed Low Carbon Innovation Funds; work with a variety of ClimateTech
companies (including Proton Motor, where he was previously the deputy chairman
for two years from 2008 to 2010); 10 years as co-founder and chairman of
Controlled Power Technologies (hybridisation of passenger vehicles) from
establishment to trade sale; and 10 years as exclusive financial advisor to
Anglo Platinum on ClimateTech matters including its fuel cell JV with Johnson
Matthey and establishment of a corporate venturing fund. Previously, he worked
in energy project finance and privatisation at Close Brothers, Flemings and
PwC, on projects such as Thailand's first IPP solicitation programme and the
Northern Ireland electricity privatisation. He holds a Master's and a 1st
class Bachelor's degrees from the London School of Economics.

 

Proton Motor has an existing agreement in place with Turquoise in relation to
the introduction of, amongst other matters, potential investors, grant funding
and partnerships to the Company. Pursuant to the agreement, Turquoise is
entitled to receive a commission on any funding it introduces to the Company.

 

Dr Faiz Nahab, CEO of Proton Motor, commented:

"As we stand uniquely well placed to take advantage of the acceleration in the
adoption of hydrogen fuel cells across multiple markets, we are delighted to
welcome Ali Naini to the Board.  Ali brings a wealth of finance and
commercial experience in the cleantech sector, developed over a distinguished
career and we look forward to his sage counsel at this very exciting time for
the Company."

 

AIM Disclosures

 

Ali Naini (formerly Aghahosseini Naini), aged 56, is, or has been during the
last five years, a director or partner of the following companies and
partnerships:

 

 Current:                                   Past:
 ·    Turquoise International Limited       ·    Regentia Limited

 ·    Turquoise Capital LLP

 ·    Third Man Technologies Limited

 ·    56 Clifton Gardens Limited

 ·    19 and 21 Abbey Road Limited

 ·    Turquoise Associates Limited

 ·    LCIF Representatives Limited

 ·    LCIF2 General Partner Limited

 ·    LCIF2-B General Partner Limited

 

Mr. Naini currently holds 100,000 ordinary shares in the Company.

 

For further information:

 

 Proton Motor Power Systems Plc
 Dr Faiz Nahab, CEO
 Helmut Gierse, Chairman
 Roman Kotlarzewski, CFO                                                         +49 (0) 173 189 0923
 Antonio Bossi, NED
 Investor relations:                                                             www.protonpowersystems.com
 investor-relations@proton-motor.de (mailto:investor-relations@proton-motor.de)

 Allenby Capital Limited
 Nominated Adviser & Broker                                                      +44 (0) 20 3328 5656
 James Reeve / Vivek Bhardwaj

 Celicourt Communications
 PR Adviser
 Mark Antelme / Philip Dennis                                                    +44 (0) 20 8434 2643

 

 

About Proton Motor Fuel Cell GmbH

 

Over 25 years Proton Motor has developed proven fuel cell products and
systems.  With its established position in the multi billion-dollar
addressable fuel cell market, the company is uniquely well placed to capture
the significant and fast growing demand for 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 offers
complete fuel cell and hybrid systems from a single source - from the
development and production through the implementation of customised
solutions.  The product portfolio consists of base-fuel cell systems,
standard complete systems, as well as customised systems. The Company's
strategic focus is serving customers with a need for long duration
uninterrupted power supply, namely the Stationary, Marine, Rail and On/Off
Highway sectors.

 

Proton Motor Power Systems plc has been quoted on the AIM market of the London
Stock Exchange since October 2006 (code: PPS).

 

 

 

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