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Pin to quick picksProton Mtr Pwr Share News (PPS)

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Share Price: 2.10
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Proton Motor Power hails follow-up order from Deutsche Bahn subsidiary

Thu, 13th Jul 2023 11:39

(Alliance News) - Proton Motor Power Systems PLC on Thursday said that it has received a follow-on order from DB Bahnbau Gruppe GmbH, a subsidiary of Deutsche Bahn AG.

The London-based designer and producer of hydrogen fuel cells and hydrogen fuel cell electric hybrid systems said the order was for a fuel cell system based on its standard HyModule S8.

Once supplied, the system will be used for the application fuel cell substitute power supply for rail infrastructure.

Proton expects to deliver the system in the first quarter of next year, with revenues recognised around the same time.

Deutsche Bahn operates the German rail network. The company previously supplied a fuel cell system to German Rail in 2016.

"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," said Chief Executive Officer Faiz Nahab.

"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."

Proton Motor Power shares were trading 4.4% higher at 8.61 pence each in London on Thursday morning.

By Holly Beveridge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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