(Sharecast News) - Hydrogen fuel cell and electric hybrid technology developer Proton Motor Power announced the receipt of a significant order from the University of Stuttgart on Friday.
The AIM-traded firm said the order would entail the delivery of a containerised fuel cell power plant, with a power output of up to 240 kW.
It said the power plant, known as 'HyShelter', would be integrated into a large industrial hydrogen research proving ground at the University of Stuttgart.
The facility wawa expected to provide electricity to the grid, generating power starting in the second quarter of 2024.
"This project fits well with the company's market approach to offer turn-key solutions to its customers," the board said in its statement.
"Proton's vision is to support customers providing climate neutral solutions for electricity and heating production."
In that respect, Proton said its portfolio addressed applications such as uninterruptible emergency power supply, peak shaving and off-grid charging infrastructure.
"Proton Motor anticipates that the plant will be delivered to the customer in 2024 and revenues recognised in that year."
At 1206 BST, shares in Proton Motor Power Systems were up 6.15% at 10.35p.
Reporting by Josh White for Sharecast.com.
Proton Mtr Pwr (PPS)