New premises for Proton

5 Jul 2007 07:00

Proton Power Systems PLC05 July 2007 Fuel cell expert, Proton Power Systems relocates to new premises Move enables expansion of business activities and volume production Munich, 5 July, 2007 - Proton Power Systems plc ("PPS"), through its subsidiaryProton Motor Fuel Cell GmbH ("PM"), an expert in industrial fuel cells, fuelcells and fuel cell electric hybrid systems, today announced its relocation tonew company headquarters in Puchheim, near Munich. The new site, which canaccommodate around 100 staff, will house the company's administration, research,development, production and test departments, with further potential forexpansion as required. The move to new facilities, which will be completed by 6July, will enable Proton Motor to scale business and enter into volume andautomated production, and will provide an important platform for increasedmarketing of its fuel cell technology. The new headquarters, which has been customised in line with PM's specificrequirements, currently covers an area of 3,000 square metres. With scope forextending the building by another 2,000 square metres, the site could providespace for around 200 staff in the future. The leasing agreement is designed sothat any extension, which has approval already in place, can be built quicklyallowing the company to expand its capacity at short notice in response togrowing market demands. Commenting on the move, Felix Heidelberg, CEO of Proton Power Systems, said:"This move will enable us to realise our strategy of automated and volumeproduction - a key requirement for cost-effective production of our PM Basic, PMPackage and PM Turnkey product lines. We will be able to meet the constantincrease in demand we face now and in the future, and we are brilliantlyequipped to turn our business plan into reality." The former five, separately located, sites in Starnberg had become too small forthe company and unable to accommodate further expansion. The new site inPuchheim, on the other hand, enables the company to consolidate on a single sitewith sufficient space for the next three to five years. Single site operationwill also lead to increased efficiency and facilitate further and progressivereductions in unit costs. The infrastructure in and around Puchheim was also oneof the key factors in the decision to move, as the company now benefits fromexcellent transport links provided by access to motorways and public transporte.g. to Munich airport. PM can now be reached at the following address:Proton Motor Fuel Cell GmbHBenzstrasse 782178 PuchheimGermany About Proton Power Systems plc. PPS, through its subsidiary Proton Motor Fuel Cell GmbH ("PM"), has developedand produced a standard fuel cell module, fuelled by hydrogen integrated with anenergy storage system to create a hybrid electric fuel cell system capable ofproviding power during peak demand situations. The market focus is on industrialapplications where 'back-to-base' refueling occurs, on site, at the end of eachshift or work period. The Group has identified opportunities to replace lead-acid batteries with theirPEM fuel cell systems and has identified niche markets in the materials handlingand mass-transportation sectors where hybrid electric fuel cell systems offerconsiderable advantages over conventional engine technology and fuel cell onlydrive systems. The Group has identified two initial market segments in which theDirectors believe the advantages of hybrid electric fuel cell systems will leadto economic benefits for the end user - forklift trucks and buses. In mostcases, vehicles operate within a defined radius or return to central points ofoperation. The many advantages over current commercial alternatives include lower fuelconsumption, longer periods between refueling, shorter refueling, consistentlevels of power delivery and zero harmful emissions. PM's technology development has been undertaken with the key objectives ofmultiple applications and volume production. PPS was admitted to trading on AIM on October 31, 2006. Further information can be found at www.protonpowersystems.com or from: Commercial: Nomad: Proton Motor Fuel Cell GmbH Bell Lawrie Dr. Joachim Kroemer A division of Brewin Dolphin SecuritiesBenzstrasse 7 Alan Stewart82178 Puchheim Tel: +44 141 221 7733GermanyTel.: +49/89 127 62 65 - 0Fax: +49/89 127 62 65 - 99j.kroemer@proton-motor.dewww.proton-motor.de Media:Gavin Anderson & CompanyMarie Cairney/Ken CroninTel.: +44 207 554 1400mcairney@gavinanderson.co.uk/kcronin@gavinanderson.co.uk This information is provided by RNS The company news service from the London Stock Exchange