REG - Proton Motor Power - Follow-up order from DB Bahnbau Gruppe

Proton Motor Power SystemsAnnouncement

29/10/2024 07:00

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RNS Number : 9471J  Proton Motor Power Systems PLC  29 October 2024

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29 October 2024

 

Proton Motor Power Systems plc

("Proton Motor" or the "Company")

 

Follow-up order from DB Bahnbau Gruppe

 

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 a further follow-up order, for a
complete hydrogen fuel cell emergency power system, from DB Bahnbau Gruppe
GmbH (the "Customer"), a subsidiary of Deutsche Bahn AG, Germany's leading
full-service provider for rail infrastructure.

 

This follow-up order of the Company's HyCabinet S48 fuel cell emergency power
system has a rated power output of 48 kVA and represents the 26th system
ordered by the Customer since the signing of the cooperation agreement between
Proton Motor and DB Bahnbau Gruppe GmbH in 2015 and the third order under the
Customer's brand name EnerRail.

 

As noted in the Company's announcement on 22 August 2024 as well as 23
September 2024, Proton Motor is in discussions with other potential sources of
finance in order to allow the Company to continue to operate beyond 31
December 2024. While funding discussions continue to remain relatively
early-stage in nature, it is anticipated that subject to the satisfactory
conclusion of such discussions, the order for the Customer would be able to
proceed for delivery in 2025. There is no certainty that any such funding
discussions will conclude nor as to the timings or terms of such funding.

 

Image 1: The components of the system

 

 

Image 2: Onsite layout and installation of the railway control centre

 

 

Dr. Faiz Nahab, CEO of Proton Motor, said:

 

"We are pleased to receive this latest order from DB Bahnbau Gruppe GmbH,
which reaffirms their confidence in our industry-leading hydrogen fuel cell
technologies. We are continuing to progress funding discussions with
prospective partners and are working hard to secure the resources necessary to
fulfil this order and future ones as well. We will provide investors with an
update regarding the progress of these funding discussions in due course."

 

 

For further information:

 

 Proton Motor Power Systems Plc
 Dr Faiz Nahab, CEO
 Roman Kotlarzewski, CFO                              +49 (0) 173 189 0923
                                                      www.protonpowersystems.com
 Allenby Capital Limited
 Nominated Adviser & Broker                           +44 (0) 20 3328 5656
 James Reeve / Vivek Bhardwaj

 Celicourt Communications
 PR Adviser                                           +44 (0) 20 7770 6424 / protonmotor@celicourt.uk
 Mark Antelme / Philip Dennis /

 Charlie Denley-Myerson

 

About Proton Motor

 

Proton Motor has 25 years of experience in 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 develops
and produces standard Products as well as customised solutions.  The focus of
Proton Motor is on stationary solutions, as well as heavy-duty, marine and
rail applications.  The product portfolio consists of base-fuel cell systems,
standard complete, as well as customised systems.

Proton Motor Fuel Cell GmbH is a wholly owned subsidiary of Proton Motor Power
Systems plc. The Company has been quoted on the AIM market of the London Stock
Exchange since October 2006 (code: PPS).

 

 

 

 

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