Proton Mtr Pwr Regulatory News (PPS)

24 Jul 2009 16:10



Proton Power Systems plc

("Proton Power" or "the Company")

Proton Power (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems, announces that today, pursuant to a share option scheme approved by the Board of Directors on 23 July 2009, options to subscribe for 150,000 new ordinary shares at a price of 10p have been granted to Helmut Gierse, Non-Executive Director, and options to subscribe for 250,000 new ordinary shares at a price of 10p have been granted to Achim Loecher, Finance Director.

Options granted are exercisable after two years from the date of grant and subject to achieving certain individually defined operational and financial performance targets and to final board approval.

In addition, Achim Loecher already holds options to subscribe for 100,000 ordinary shares

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About Proton Power

Proton Power 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 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