Proton Power Systems PLC Joint Venture (9590D)
15 October 2018 - 5:00PM
UK Regulatory
TIDMPPS
RNS Number : 9590D
Proton Power Systems PLC
15 October 2018
15 October 2018
Proton Power Systems plc
("Proton" or the "Company")
Joint Venture with e.GO
As reported in a number of press articles, Proton Power Systems
plc (AIM: PPS), the designer, developer and producer of fuel cells
and fuel cell electric hybrid systems, announces that it has agreed
in principle with e.GO Mobile AG to establish a joint venture to
develop and produce a scalable, cost-effective fuel cell range
extender for the e.GO Mover. The systems will also be available for
other applications in the market.
The Company will make a further announcement when the final
terms of the joint venture have been agreed.
For further information:
Proton Power Systems plc
Dr Faiz Nahab, CEO
Helmut Gierse, Chairman
Sebastian Goldner, Director Customer
Project Management and Service
Roman Kotlarzewski, Group FD Tel: +49 (0) 171 950
Manfred Limbrunner, Director Sales 1128
and Marketing
www.protonpowersystems.com
Stockdale Securities Limited
Nominated adviser and broker Tel: +44 (0) 20 7601
6100
Antonio Bossi / David Coaten www.stockdalesecurities.com
About Proton Motor Fuel Cell GmbH
Proton Motor is an expert in Power Solutions using CleanTech
technologies like industrial fuel cells, fuel cell and hybrid
systems with more than 20 years of experience in this sector. 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 and stationary 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 Cells GmbH is wholly owned subsidiary of
Proton Power Systems plc. The Company has been listed on the London
Stock Exchange since October 2006 (code: PPS).
About e.GO Mobile AG
e.GO Mobile AG, headquartered in the Production Engineering
Cluster on RWTH Aachen Campus, is an electric car company that
develops and produces electric vehicles. This business was founded
by Prof. Günther Schuh in spring 2015 with the aim to produce via
Industrie 4.0 technologies affordable and customer-focused electric
vehicles for short-distance travel. Currently, the e.GO Mobile AG
employs approx. 300 employees, an additional 2,500 experts on RWTH
Aachen Campus are consulted temporarily and on a case by case
basis.
The series production of the electric city car e.GO Life that
will be available in its basic version at a price starting from
15,900 Euro will start in the spring of 2019 in Aachen. Starting in
March 2019, the e.GO Life will be shipped to external clients.
There are already more than 3,100 preorders.
e.GO MOOVE GmbH, a joint venture of e.GO Mobile AG and Zukunfts
Venture GmbH, a 100% subsidiary of ZF Friedrichshafen AG, develops
and produces people movers and robotaxis in Aachen. e.GO Mobile AG
holds the majority of the e.GO MOOVE GmbH. The small electric city
bus e.GO Mover will firstly be registered and enter series
production as a manually driven local public transport bus. The
first Movers will be shipped in end-2019. In 2019, small test
fleets will be available for testing the functions.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
JVEFFUFMEFASESS
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