LONDON (Alliance News) - Proton Power Systems PLC on Tuesday said it is installing a stack manufacturing robot to increase production capacity to 5,000 fuel cell units per year.
Proton Power Systems shares were trading 28% higher at 37.88 pence.
The company, which designs, develops and produces fuel cells, said it decided to install the robot after it saw "clear signs" that demand for hydrogen fuel cells is "rapidly increasing".
Furthermore, in order to meet future increasing demand, the company has put in place plans to modify the machine layout to be able to produce up to 30,000 stack units per year.
"We are delighted with this important development in the company's progress as it contributes greatly to manufacturing ability and puts Proton in a commanding position to receive larger quantity orders before the end of 2020," Chair Helmut Gierse said.
Proton Mtr Pwr (PPS)