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 power and will be finalised by September 2014 and when completed should result in an order for several hundred units. Proton Power didn't name the customer.
Proton Power said it has "considerable know how" in maritime based fuel cell applications having operated the Alsterwasser tourist boat in Hamburg with a Proton fuel cell system for the last five years.
"The demand for emission-free systems in Asia Pacific is growing dramatically and our expertise will allow solutions in maritime as well as mobile and stationary products for the Asia Pacific markets," Chairman John Wall, said in a statement.
The stock was trading at 13.00 pence Thursday morning, up 4.88 pence or 60%.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Proton Mtr Pwr (PPS)