REG - Proton Motor Power - Repeat order from DB Bahnbau Gruppe

Proton Motor Power SystemsAnnouncement

13/07/2023 07:00

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RNS Number : 8469F  Proton Motor Power Systems PLC  13 July 2023

13 July 2023

 

Proton Motor Power Systems plc

("Proton Motor" or the "Company")

 

Repeat order from DB Bahnbau Gruppe

 

Proton Motor Power Systems plc (AIM: PPS), the designer and producer of
hydrogen fuel cells and hydrogen fuel cell electric hybrid systems, is pleased
to announce that it has received a follow-on order from DB Bahnbau Gruppe
GmbH, a subsidiary of Deutsche Bahn AG, the operator of the German Rail
network (the "Customer"), for a fuel cell system based on the Company's
standard HyModule® S8.

 

Once supplied, the system will be used for application fuel cell substitute
power supply (fuel cell emergency power supply) for rail infrastructure,
ensuring a robust and clean source of supply for critical equipment within the
Customer's rail infrastructure.

 

Proton anticipates that the system will be delivered to the Customer in the
first quarter of 2024 with revenues correspondingly being recognised in that
year. The Company previously supplied a fuel cell system to German Rail in
2016.

 

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

 

"This repeat order is a further vote of confidence in our hydrogen fuel cell
systems, which offer a climate neutral solution for applications including
uninterruptible emergency power supply, peak shaving and off-grid charging
infrastructure. It is also a reflection of the strength of the relationships
we've developed across key industries, which will help Proton Motor further
commercialise its offer, on the back of moving into a new state of the art
production facility later this year, which will improve efficiencies and
scalability."

 

 

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

 Celicourt Communications
 PR Adviser                                                                      +44 (0) 20 7770 6424
 Mark Antelme / Philip Dennis

 

About Proton Motor Fuel Cell GmbH

 

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 mobile, 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).

 

About DB Bahnbau Gruppe GmbH

 

DB Bahnbau Gruppe GmbH is a 100% subsidiary of Deutsche Bahn AG. Its
registered office is in Berlin, has annual revenue of approx. EUR 700 million
and approx. 3,500 employees. Its primary area of focus is design, creation,
and maintenance of infrastructure facilities, in particular the rail
infrastructure.

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