(Sharecast News) - Proton Power Systems on Tuesday entered into a joint-venture agreement with Schäfer Elektronik, with the two new partners aiming to build an integrated plug and play power unit.
This unit, which will integrate Proton's larger industrial fuel cells with Schäfer's power electronics, battery and a hydrogen storage system, is planned to provide in excess of 1 MW of power to supply electric vehicle charging stations and will be available either as standalone unit or as grid connected unit, which would also be able to support the local grid if required.
The AIM-traded company said it expects support across Europe and the UK for the electric car industry to rapidly increase by 2021, leading to increased demand for electric vehicle charging stations.
These charging stations are highly likely to be powered by hydrogen fuel cells in order to supply the required electric load without undue stress on the electrical grid or having a carbon footprint.
Patrick Schäfer, chief executive of Schäfer Elektronik, said: "We are delighted to contribute to saving our planet from some of the effects of global warming; our technology will always endeavour to improve the world to live in."
Proton Power Systems shares were down 8.09% at 24.36p at 1212 BST,
Proton Mtr Pwr (PPS)21 Jun 2024 15:18