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Share Price: 1.75

Bid: 1.00

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Change: 0.00 (0.00%)

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Proton Power surges on sales rebound and corporate restructure

Tue, 02nd Aug 2016 10:35

(ShareCast News) - Hydrogen fuel cells maker Proton Power has impressed investors with news of strong current trading, plans to restructure the business into three divisions and for a boardroom reshuffle.AIM-quoted Proton, whose shares shot up 91% to their highest in a year, forecast revenue for calendar 2016 will show "significant growth of approximately 250%" from the £0.7m generated last year.The group will be segmented into three trading units: Stationary, which will focus on emergency back-up power cells or the containerized fuel cells recently provided to the Orkney 'Surf and Turf' project; Mobile business focusing on hybrid systems for vehicles; and Maritime, such as the contract to supply a tourist ship in Hamburg.Chief executive Faiz Francoise Nahab, who waved goodbye to longstanding business development director Thomas Meltzer, while finance director Achim Loecher stepped back with immediate effect to take a non-executive role, said creating three business units will enable each to focus on their specific market demands, which he expects to help improve shareholder value.The refining of the business model reflects management's confidence that the need to offer a broader portfolio of products in fuel cell and hybrid power has achieved its initial aim, but the feeling is that the group's increased in size and investments in product development and manufacturing capabilities calls for a new approach as the stature and scale of customers has stepped up.Proton said the proposed reorganisation would drive increased selling opportunities, whilst keeping overheads down thanks to the shared service infrastructure."Proton will provide year on year revenue streams as commercialization of our core technology is now realised," said Nahab. "Our continued investment in our manufacturing capability is now bearing fruits. The board sees proof that the fuel cell technology is commercially attractive to customers resulting in projects which will provide years of revenues for Proton."

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23 Jan 2014 10:15

Proton Power Systems Secures Asian Contract For Maritime Fuel Cell Study

LONDON (Alliance News) - Fuel cell system developer Proton Power Systems PLC Thursday said it has been contracted to perform a feasibility study for a fuel cell maritime application from an Asia Pacific-based customer, in a deal worth EUR297,000. The study is aimed at generating on board po

20 Jan 2014 12:31

Proton Power receives road approval for fuel cell product

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

20 Jan 2014 09:26

Proton Power Shares Jump As Electric Truck Gets German Road Approval

LONDON (Alliance News) - Shares in Proton Power Systems PLC were trading up 38% Monday after it announced that its HyRange Fuel Cell System had received road approval from German authorities. This means that its Newton electric truck, which integrates the fuel cell system, can now be operat

25 Nov 2013 10:40

Proton Power Systems Releases New Fuel Cell Stack Technology

25 Nov 2013 07:59

AIM IN BRIEF: UBC Media Confirms Agreement To Acquire 7digital

25 Oct 2013 09:53

DIRECTOR DEALINGS: Proton Power Systems CEO Sells 2.3 Million Shares

10 Oct 2013 12:39

DIRECTOR DEALINGS: Proton Power Systems Director Sells Shares

7 Oct 2013 09:20

Proton Power Thinks It Has Solved Key Market Issue With New Solar Battery Product

27 Sep 2013 09:41

Proton Power Systems Announces New Electric Commercial Vehicle

25 Sep 2013 09:49

Proton Power Predicts Breakthrough As Loss Widens

16 Sep 2013 07:59

Proton Power Systems Wins EUR857,000 Contract With Siemens

11 Feb 2013 11:11

Proton Power Systems acquires SPower Holding GmbH

Proton Power Systems has agreed to acquire SPower Holding GmbH and its subsidiary SPower GmbH for 5.0m euros. The company, which designs and produces hydrogen fuel cells and hydrogen fuel cell electric hybrid systems, said it will merge SPower with its subsidiary Proton Motor Fuel Cell GmbH. The n

6 Aug 2012 09:39

Proton signs deal with German sales partner

Proton Power's subsidiary, Proton Motor Fuel Cell, has signed a co-operation agreement with Modl to provide interruption-free and energy efficient storage for the stationary power supply market. Both partners will offer complete solutions for Uninterrupted Power Supply (UPS) and grid shaving appli

15 Mar 2011 16:23

Sector movers: Nuclear fears boost alternative energy stocks

The alternative energy sector is over 7% higher Tuesday, as fears over a nuclear disaster in Japan have buoyed sentiment in renewable energy stocks. Wind turbine gearbox manufacturer Hansen Transmissions and fuel cell developer Proton Power Systems are providing a lift. The life insurance sector i

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Small caps round-up: Andrews Sykes, Northbridge, Sceptre...

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