Proton Power Systems PLC Letter of Intent Signed (9438S)
March 15 2019 - 2:00AM
UK Regulatory
TIDMPPS
RNS Number : 9438S
Proton Power Systems PLC
15 March 2019
Proton Power Systems plc
("Proton" or the "Company")
Letter of intent signed with Skoda Electric a.s.
Proton and Skoda Electric a.s. in the Czech Republic have signed
a letter of intent with the objective of entering into a
cooperation to develop, sell and service fuel cell electric buses
using Proton's modular HyRange(R) systems. The first prototype
buses shall be brought into operation for European bus operators
with an initial target of at least 10 vehicles by the first quarter
of 2020.
Dr. Nahab, CEO of Proton, commented: "We are pleased to have
entered into the cooperation with Skoda Electric a.s., which
further confirms the demand for Proton's HyRange applications."
For further information:
Proton Power Systems plc
Dr Faiz Nahab, CEO
Helmut Gierse, Chairman
Sebastian Goldner, CTO/COO
Roman Kotlarzewski, CFO Tel: +49 (0) 173 189
Manfred Limbrunner, Director Sales 0923
and Marketing
www.protonpowersystems.com
Stockdale Securities Limited
Nominated adviser and broker Tel: +44 (0) 20 7601
6100
Antonio Bossi / David Coaten www.stockdalesecurities.com
About Proton Motor Fuel Cell GmbH
Proton Motor is an expert in Power Solutions using CleanTech
technologies like industrial fuel cells, fuel cell and hybrid
systems with more than 20 years of experience in this sector. Based
in Puchheim near Munich, Proton Motor offers complete fuel cell and
hybrid systems from a single source - from the development and
production through the implementation of customized solutions. The
focus of Proton Motor is on back-to-base, for example, for mobile,
marine and stationary solutions applications. The product portfolio
consists of base-fuel cell systems, standard complete systems, as
well as customized systems.
Proton Motor serves IT, Telecoms, public infrastructure and
healthcare customers in Germany, Europe and Middle East with power
supply solutions for DC and AC power demand. In addition to power
supply, SPower also offers solutions for Solar Systems as well as a
new product line for Solar Energy Storage.
Proton Motor Fuel Cells GmbH is wholly owned subsidiary of
Proton Power Systems plc. The Company has been listed on the London
Stock Exchange since October 2006 (code: PPS).
About koda Electric a.s.
koda Electric is a leading global manufacturer of electric
drives and traction motors for trolleybuses, tramways, locomotives,
suburban and underground train units and mining vehicles. It has
maintained its traditions as the koda producer of electrically
engineered transportation in Plze , Czech Republic, which was
commenced in 1901.
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END
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