Proton Mtr Pwr Regulatory News (PPS)

11 Apr 2008 07:01

Proton Power Systems PLC11 April 2008 Press Release 11 April 2008 Proton Power Systems plc ("Proton Power" or "the Company") Proton and Karmann to build zero-emission commercial vehicle Proton Power Systems plc (AIM: PPS), a leading designer, developer and producerof fuel cells and fuel cell electric hybrid systems for "back to base" markets,is pleased to announce that its wholly owned subsidiary, Proton Motor Fuel CellGmbH ("Proton Motor"), has signed a memorandum of understanding ("MoU") withWilhelm Karmann GmbH ("Karmann"), a leading supplier of full-service vehiclesoperating worldwide, to build a zero-emission, light-duty commercial vehicle. Karmann and Proton Motor intend to collaborate in the 'Ecocarrier' project, avehicle designed by EcoCraft Automotive, in which Karmann will build the vehicleand its electrical propulsion system, while Proton Motor will deliver the fuelcell hybrid system. The project aims to deliver a zero-emission vehicle tocustomers such as small businesses, local communities, airports, and postal anddelivery services, and to collect information on the operation of such vehicles. The Ecocarrier range will be based on a new frame and electrical drive conceptfrom EcoCraft Automotive, built by Karmann, and an electric fuel cell hybridsystem built by Proton Motor. Proton Motor and Karmann intend to collaborate for the long term and to extendthis agreement after 2013 on terms based on the results of the cooperationreached by that stage. Felix Heidelberg, CEO of Proton Power Systems plc, said: "We are delighted tocollaborate with Karmann. We both see this project as a starting point for morejoint business in the area of fuel cell hybrid commercial vehicles. Drawingfrom experiences of both companies, Proton Power will be well-positioned todevelop and commercialise sustainable technical solutions for our target marketsand to generate new projects and contracts. We are looking forward to along-standing and fruitful cooperation". - Ends - For further information: Proton Power Systems plcFelix Heidelberg, CEO Tel: +49 (0) 89 1276265 0f.heidelberg@proton-motor.de www.protonpowersystems.com Noble & Company LimitedAndy Yeo / Nick Athanas Tel: +44 (0) 20 7763 2200 www.noblegp.com Media enquiries:Abchurch Communications LimitedJustin Heath / Monique Tsang Tel: +44 (0) 20 7398 7712monique.tsang@abchurch-group.com www.abchurch-group.com About Proton Power Systems plc Proton Power Systems plc is a developer of fuel cells and fuel cell hybridsystems for motive and back-up power supply. Proton Power has more than 13 yearsof experience in the fuel cell market. Through its wholly owned subsidiary,Proton Motor Fuel Cell GmbH, the Company has developed and produced a fuel cellmodule running on hydrogen and integrated this with an energy storage system tocreate a hybrid electric fuel cell system. The system harnesses the excess powergenerated by the fuel cell during partial load (such as stop-start operations)and uses the stored energy in peak demand times. The system thus boasts lowerfuel consumption and more consistent levels of power delivery than conventionalcombustion engine or fuel cell-only systems, in addition to producing zeroharmful emissions. Proton Power's market focus lies in industrial applications where 'back-to-base'refuelling occurs at the end of each shift or work period, such as in thematerials handling and mass transportation sectors. In these markets, thecommercialization of applications is possible at a very early stage, as they donot depend on the existence of a ubiquitous hydrogen infrastructure. Throughpartnerships with leading OEMs such as Skoda, Proton Power's technology isalready deployed in city buses and forklift trucks. Proton Power also targets the upcoming market for marine transportationapplications and provides the hybrid fuel cell propulsion system for Europe'sfirst fuel-cell-powered passenger ferry, which will be operating in Hamburg fromsummer 2008. Proton Power Systems plc was admitted to trading on AIM on 31 October 2006 andis based in the UK. Its operating subsidiary, Proton Motor Fuel Cell GmbH, islocated in Puchheim, near Munich, Germany. www.protonpowersystems.com About Wilhelm Karmann GmbH and the 'Ecocarrier' As a full-service vehicle supplier, Karmann supplies the internationalautomotive industry with ideas, new solutions, products and production plants.For more than 100 years, their knowledge from modules to complete vehicles hasmade them partners with the great names in the industry. As a contract manufacturer, Wilhelm Karmann GmbH is building one of the world'sfirst fully electric small utility vehicle for EcoCraft Automotive, based atWunstorf (near Hanover). This range of vehicles, called EcoCarrier, can providetransport and delivery independent of traffic bans related to smog orparticulate matter. For the current year, a production of 500 units is plannedto be built at Karmann's Osnabrueck facility. EcoCraft Automotive was in chargeof the serial development of the vehicle branded EcoCarrier. The conceptprovides for a two-axle fully electric vehicle as well as a three-axle with ahybrid powertrain system. Energy for the "small" vehicle is currently derivedfrom a mobile storage system with globally available standard batteries. In thefuture, fuel cells will power the vehicle. The "larger" EcoCarrier features anadditional gasoline or diesel-operated engine powering the third axle, extendingits range substantially. The target group for the EcoCarrier includes smallbusinesses, catering and health care services, local communities, airports,postal and delivery services. The vehicle is distributed by 16 retail partners,and directly by EcoCraft Automotive in Wunstorf. www.karmann.com This information is provided by RNS The company news service from the London Stock Exchange