Proton Mtr Pwr Share News (PPS)

Proton Power Systems (PPS), the AIM-listed parent company of fuel cell technology group Proton Motor, has received road approval for its HyRange Fuel Cell System product, causing shares to surge on Monday.HyRange, integrated in a Newton 7.5 to 12 ton electric truck, had been tested in Germany for 24 months in order to prove its reliability.Now that it has received official approval and homologation for road service from the German authorities, it means that vehicles can use it without limitation across Europe.Proton Motor is hoping to take advantage of the growing demand for electric vehicles in Germany, which currently only has 15 hydrogen fuelling stations in operations. The company said there are plans to expand the network to 100 by 2018 and 400 by 2023.Proton Chairman John Wall said that HyRange "allows the regular operation of the vehicle with our fuel cell range extender and significantly extends the operating range and on board power of an electric truck"2."It also opens the door for the operation of such vehicles in commercial applications and demonstrates to customers that HyRange is ready for regular operation," he added.PPS was up 28.34% at 4.97p by 12:44 on Monday.BC