Last checked at 27 May 2009 07:00
| Press Release | 27 May 2009 |
Proton Power Systems plc
("Proton Power" or "the Group")
Contract manufacturing partnership with Deutsche Mechatronics
targeting a production capacity of up to 5000 fuel cell systems per year
Proton Power Systems plc (AIM:PPS), a leading designer, developer and producer of fuel cells and fuel cell electric hybrid systems, is pleased to announce that its wholly owned subsidiary, Proton Motor GmbH ("the Company"), has signed an exclusive, five-year framework collaboration agreement with Deutsche Mechatronics GmbH, a leading contract manufacturer, to facilitate volume production of the Company's fuel cell systems in Germany.
This partnership will enable Proton Motor to speed up delivery of its products to market in a highly cost-effective manner. Under the terms of the agreement Deutsche Mechatronics will manufacture Proton Motor's fuel cell hybrid systems, with the production capacity to be gradually increased up to 5000 units per year per shift.
Commenting on the agreement, Thomas Melczer, CEO of Proton Power, said: "During the last months, we have seen an increased demand for our fuel cell systems. This contract manufacturing agreement will enable us to prove to our potential customers that we have the immediate capabilities to mass produce and supply our products to them. Furthermore, volume production will reduce the cost of our products and will enable us to more easily accommodate the individual needs of our customers.
"Deutsche Mechatronics has an outstanding reputation. We are delighted to be partnering with them to supply cost-effective fuel cell systems in Germany and beyond."
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For further information:
| Proton Power Systems plc | |
| John Wall, Chairman | Tel: +44 (0) 78 0291 7615 |
| Ali Naini, Deputy Chairman | Tel: +44 (0) 20 7329 1750 |
| Thomas Melczer, CEO | Tel: +49 (0) 89 127 626 599 |
| www.protonpowersystems.com |
| Arbuthnot Securities Limited | |
| Tom Griffiths / Antonio Bossi | Tel: +44 (0) 20 7012 2000 |
| www.arbuthnotsecurities.co.uk |
Media enquiries:
| Abchurch Communications Limited | |
| Justin Heath / Stephanie Cuthbert / Monique Tsang | Tel: +44 (0) 20 7398 7712 |
| monique.tsang@abchurch-group.com | www.abchurch-group.com |
About Proton Power Systems plc
Proton Power Systems plc is a developer and manufacturer of fuel cells and fuel cell hybrid systems for motive and stationary power supply. Its sales-driven strategy focuses on identifying applications with the greatest market needs and supplying large volumes of cost-competitive systems to fulfil those needs. Proton Power is gaining access to a broad range of markets through partnerships with leading OEMs such as Skoda Electric, in addition to contract manufacturers such as Deutsche Mechatronics.
Proton Power's motive applications include forklifts, city buses, municipal utility vehicles, commercial vehicles and ferries. Stationary applications focus on the Uninterruptible Power Supply ("UPS") sector, where there is a large demand for mission-critical, grid-independent secure power supply in places such as telecommunications stations, data centres, hospitals, and power substations.
Through its wholly owned subsidiary, Proton Motor Fuel Cell GmbH ("Proton Motor"), the Group has developed and deployed fuel cell modules that can be integrated with energy storage media to create hybrid fuel cell systems. Proprietary, intelligent energy management software balances the power output across the system to maximise efficiency and improve power delivery. The system therefore boasts lower fuel consumption and more consistent levels of power delivery than conventional diesel/combustion engine or fuel cell-only systems, while producing zero harmful emissions.
Proton Power Systems plc was admitted to trading on AIM on 31 October 2006 and is incorporated in the UK. Proton Motor has more than 15 years of experience in the fuel cell market and is located in Puchheim, near Munich, Germany.
www.protonpowersystems.com
About Deutsche Mechatronics GmbH
Deutsche Mechatronics is a leading strategic outsourcing partner and contract manufacturer for a range of industrial needs in the mechanical engineering, electrical engineering, and software sectors. Its activities include product development, volume production of parts, systems and assemblies, and product support. Deutsche Mechatronics employs a highly qualified team of engineers and has invested in specialist automated technology to optimise production at the highest quality.
www.deutsche-mechatronics.de