REG - Proton Motor Power - Post year end trading update

Proton Motor Power SystemsAnnouncement

14/02/2022 07:00

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RNS Number : 5099B  Proton Motor Power Systems PLC  14 February 2022

14 February 2022

 

Proton Motor Power Systems plc

("Proton Motor" or the "Company")

 

Post year end trading update

 

Proton Motor Power Systems plc (AIM: PPS), Europe's leading designer,
developer and producer of fuel cells and electric hybrid systems with a
zero-carbon footprint, is pleased to provide an update on trading for the year
ended 31 December 2021. During the year, the Group received orders worth
approximately €3.2 million and, subject to the completion of the audit, the
Group achieved revenue of €3.2 million (2020 revenue: €2.1 million).

 

The positive trend seen in 2021 has continued into a promising start to 2022:
since 1 January 2022, the Group has already booked orders worth €1.3 million
from five customers, comprised of repeat orders from two existing customers
and three new customer orders. Orders were for the stationary and mobility
segments, including large trucks.

 

Dr. Faiz Nahab, CEO of Proton Motor, commented: "Demand for larger graphite
high power industrial generators is rapidly increasing to reduce the effects
of global warming. We are developing hydrogen fuel cell generators
specifically for use in power grid peak shaving applications in industrial
zones and fuelling stations on motorways to charge up electrical vehicles
without loading the national power grid.

 

"As COVID-19 pandemic clouds begins to clear, 2022 is beginning to show more
promise for the fuel cell industry and we look forward with confidence to a
successful 2022."

 

For further information:

 

 Proton Motor Power Systems Plc
 Dr Faiz Nahab, CEO
 Helmut Gierse,
 Chairman
 Brendan Bilton, Investor and Business Relations                                                                                                                                                        +44 (0) 7798 554 191
 Roman Kotlarzewski, CFO                                                                                                                                                                                +49 (0) 173 189 0923
 Antonio Bossi, Non-Executive Director,

 Investor Relations
                                                                                                                                                                                                        www.protonpowersystems.com

                                                                                                                                                                                                        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
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 customized
solutions.  The focus of Proton Motor is on back-to-base, for example, for
mobile, marine, stationary and rail solutions applications.  The product
portfolio consists of base-fuel cell systems, standard complete systems, as
well as customized systems.

 

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. In addition to power supply, SPower also offers
solutions for Solar Systems as well as a new product line for Solar Energy
Storage.

 

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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