Last checked at 13 Jul 2023 07:00
13 July 2023
Proton Motor Power Systems plc
("Proton Motor" or the "Company")
Repeat order from DB Bahnbau Gruppe
Proton Motor Power Systems plc (AIM: PPS), the designer and producer of hydrogen fuel cells and hydrogen fuel cell electric hybrid systems, is pleased to announce that it has received a follow-on order from DB Bahnbau Gruppe GmbH, a subsidiary of Deutsche Bahn AG, the operator of the German Rail network (the "Customer"), for a fuel cell system based on the Company's standard HyModule® S8.
Once supplied, the system will be used for application fuel cell substitute power supply (fuel cell emergency power supply) for rail infrastructure, ensuring a robust and clean source of supply for critical equipment within the Customer's rail infrastructure.
Proton anticipates that the system will be delivered to the Customer in the first quarter of 2024 with revenues correspondingly being recognised in that year. The Company previously supplied a fuel cell system to German Rail in 2016.
Dr. Faiz Nahab, CEO of Proton Motor, said:
"This repeat order is a further vote of confidence in our hydrogen fuel cell systems, which offer a climate neutral solution for applications including uninterruptible emergency power supply, peak shaving and off-grid charging infrastructure. It is also a reflection of the strength of the relationships we've developed across key industries, which will help Proton Motor further commercialise its offer, on the back of moving into a new state of the art production facility later this year, which will improve efficiencies and scalability."
For further information:
Proton Motor Power Systems Plc |
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Dr Faiz Nahab, CEO | |
Helmut Gierse, Chairman | |
Roman Kotlarzewski, CFO | +49 (0) 173 189 0923 |
Antonio Bossi, Non-Executive Director | |
Investor relations: | www.protonpowersystems.com |
investor-relations@proton-motor.de | |
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Allenby Capital Limited |
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Nominated Adviser & Broker | +44 (0) 20 3328 5656 |
James Reeve / Vivek Bhardwaj
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Celicourt Communications |
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PR Adviser | +44 (0) 20 7770 6424 |
Mark Antelme / Philip Dennis
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About Proton Motor Fuel Cell GmbH
Proton Motor has 25 years of experience in Power Solutions using CleanTech technologies such as hydrogen fuel cells, fuel cell and hybrid systems with a zero carbon footprint. Based in Puchheim near Munich, Proton Motor develops and produces standard Products as well as customised solutions. The focus of Proton Motor is on stationary solutions, as well as mobile, marine and rail applications. The product portfolio consists of base-fuel cell systems, standard complete, as well as customised systems.
Proton Motor Fuel Cell GmbH is a wholly owned subsidiary of Proton Motor Power Systems plc. The Company has been quoted on the AIM market of the London Stock Exchange since October 2006 (code: PPS).
About DB Bahnbau Gruppe GmbH
DB Bahnbau Gruppe GmbH is a 100% subsidiary of Deutsche Bahn AG. Its registered office is in Berlin, has annual revenue of approx. EUR 700 million and approx. 3,500 employees. Its primary area of focus is design, creation, and maintenance of infrastructure facilities, in particular the rail infrastructure.