Proton Power Systems PLC Joint venture (2567K)
27 August 2019 - 7:01PM
UK Regulatory
TIDMPPS
RNS Number : 2567K
Proton Power Systems PLC
27 August 2019
Proton Power Systems plc
("Proton" or the "Company")
Joint venture
Proton Power Systems plc (AIM: PPS), the designer, developer and
producer of fuel cells and fuel cell electric hybrid systems with a
zero-carbon footprint, announces that it has entered into a joint
venture agreement with Schäfer Elektronik GmbH ("Schäfer
Elektronik") whereby the two companies will integrate Proton's
larger industrial fuel cells with Schäfer's power electronics,
battery and a hydrogen storage systems in one integrated plug and
play power unit. This unit will provide in excess of 1 MW of power
to supply electric vehicle charging stations and will be available
either as standalone unit or as grid connected unit, which would
also be able to support the local grid if required.
The Board expects support across Europe and the UK for the
electric car industry to rapidly increase by 2021 leading to demand
for electric vehicle charging stations. In order to achieve a zero
carbon footprint and to avoid national grid overload, these
charging stations are highly likely to be powered by hydrogen fuel
cells in order to supply the required electric load without undue
stress on the electrical grid.
Mr Schäfer, CEO of Schäfer Elektronik, commented: "We are
delighted to contribute to saving our planet from some of the
effects of global warming; our technology will always endeavour to
improve the world to live in."
For further information:
Proton Power Systems plc
Dr Faiz Nahab, CEO
Helmut Gierse, Chairman
Sebastian Goldner, COO/CTO
Roman Kotlarzewski, CFO Tel: +49 (0) 173 189
Manfred Limbrunner, Director Sales 0923
and Marketing www.protonpowersystems.com
Shore Capital
Nominated adviser and broker
Antonio Bossi / David Coaten Tel: +44 (0) 20 7408
4050
www.shorecap.co.uk
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 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, Proton Motor also offers solutions for Solar Systems as
well as Solar Energy Storage.
Proton Motor Fuel Cells GmbH is wholly owned subsidiary of
Proton Power Systems plc. The Company has been quoted on the AIM
market of the London Stock Exchange since October 2006 (code:
PPS).
About Schäfer Elektronik GmbH
Schäfer Elektronik is a manufacturer with almost 50 years'
experience in design and production of Power Supply Systems for
industrial applications, with particular focus on oil and gas,
defence, industrial automation, power generation, rail and
automotive segments.
With its headquarters in South-Germany, a production facility in
Ireland and sales offices in USA and UAE as well as numerous
representatives, Schäfer Elektronik possesses a comprehensive
worldwide sales network.
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
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