REG - Proton Motor Power - New production facility

Proton Motor Power SystemsAnnouncement

24/10/2022 07:01

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RNS Number : 7747D  Proton Motor Power Systems PLC  24 October 2022

Prior to publication, the information contained within this announcement was
deemed by the Company to constitute inside information, as stipulated under
the UK Market Abuse Regulation. With the publication of this announcement,
this information is now considered to be in the public domain.

 

24 October 2022

 

Proton Motor Power Systems plc

("Proton Motor" or the "Company")

 

New production facility to significantly expand manufacturing capability

 

Proton Motor Power Systems plc (AIM: PPS), a leading designer, developer and
producer of fuel cells and fuel cell electric hybrid engines with a
zero-carbon footprint, announces that it has signed a fifteen-year lease
agreement for a modern 13,500m(2) facility (the "Facility") that will be used
to substantially expand the Company's manufacturing, testing and development
capacity.

 

Proton Motor has been developing its fuel cell technology since 1998 to be
probably one of the leading fuel cells in industrial, long-lifetime markets.
There is an increased political awareness that hydrogen and fuel cells will
play a fundamental role to overcome the climate energy crisis and this is
expected to lead to an increased demand for fuel cells. In anticipation of
this increased demand for the Company's products, Proton Motor intends to
increase its annual production capacity to 5,000 fuel cell hydrogen engines
and up to 30,000 fuel cell stacks.

 

The Facility will supplement the Company's current 6,000m(2) site in Puchheim,
Germany, which will now become the development facility for stacks and
hydrogen engines. The new Facility is located in the town of
Fürstenfeldbruck, located c. 12km from Puchheim and is contained within the
Munich metropolitan region. The Facility will be used for serial manufacturing
and will also be the location of the Company's sales and marketing teams, as
well as the maintenance and training centre.

 

The total land surface of the Facility is 25,700m(2) and it contains over
13,500m(2) of useable space, of which over 10,500m(2) can be dedicated to
production, testing and development. The remainder of the space will be
devoted to office usage. This represents a seven-fold increase in the amount
of space available for production when compared to the Company´s current
premises.

 

Concurrently with the enhancement of production capacity, the Directors of
Proton Power have determined that the Company will be enlarging the sales
department in order to meet the anticipated increase in demand.

 

Dr. Faiz Nahab, Chief Executive Officer of Proton Motor, stated: "Hydrogen is
the energy storage source of the future and awareness of this is increasing to
a considerable extent both amongst the public and within industry. This
creates a strong market-pull for associated technologies such as fuel cells.
This is evidenced by discussions with existing customers for midterm batch
orders. With this background, the additional space provided by the new
Facility will give Proton Motor the required capacity to produce, test and
deliver fuel cell hydrogen engines in line with this anticipated growing
demand."

 

 

 

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, Non-Executive Director
 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

 

About Proton Motor Fuel Cell GmbH

 

Proton Motor has more than 20 years of experience in Power Solutions using
CleanTech technologies such as hydrogen fuel cells, fuel cell and hybrid
hydrogen engines with a zero carbon footprint.  Based in Puchheim near
Munich, Proton Motor offers complete fuel cell and hybrid hydrogen engines
 from a single source - from the development and production through the
implementation of customized solutions.  The focus of Proton Motor is on
back-to-base, for example, for mobile, marine and stationary solutions
applications.  The product portfolio consists of base-fuel cell hydrogen
engines, standard complete hydrogen engines, as well as customized hydrogen
engines .

 

Proton Motor serves IT, Telecoms, public infrastructure and healthcare
customers in Germany, Europe and Middle East with power supply solutions for
DC and AC power demand.

 

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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