PTXU Protonex

 

TIDMPTX TIDMPTXU 
 
RNS Number : 9025R 
Protonex Technology Corporation 
08 May 2009 
 

 
 
 
 
 
 
FOR IMMEDIATE RELEASE 
 
 
May 8, 2009 
 
 
 
 
PROTONEX RECEIVEs U.S. AIR FORCE CONTRACT AWARD to Extend Capabilities of 
Unmanned Aerial Vehicle Propulsion Systems 
 
 
DATELINE: SOUTHBOROUGH, MA; Protonex Technology Corporation (LSE: AIM: PTX and 
PTXU), a leading provider of advanced fuel cell power systems for portable, 
remote and mobile applications, today announced that it has received a $265,000 
contract from the U.S. Air Force Research Laboratory (AFRL) for advanced 
development of high performance fuel cell systems for small unmanned aerial 
vehicles (UAVs). This award expands upon a series of efforts by Protonex to 
miniaturize fuel cells for use in smaller UAVs. 
 
 
Under the terms of this AFRL contract, Protonex will integrate a miniaturized 
high performance fuel cell system into development partner AeroVironment's 
(NASDAQ: AVAV) "Raven" UAV to demonstrate first flight capabilities for this 
plane under fuel cell power. The resulting UAV, powered by the Protonex fuel 
cell system, would be targeted at longer duration mission 
capabilities. AeroVironment's Raven is the highest volume production UAV and is 
a battle proven, lightweight UAV designed for rapid deployment and high mobility 
for both military and commercial applications. 
 
 
The advanced fuel cell power system designed for this smaller UAV is a 
scaled-down version of a system that was previously integrated into 
AeroVironment's "Puma" UAV platform.  By incorporating a Protonex power system, 
the Puma UAV was able to demonstrate three to four times the flight endurance 
capability of advanced batteries. 
 
 
"We are very pleased that, with the continued support of the AFRL, we are 
finding new, mission-critical opportunities for our technology within UAVs," 
commented Dr. Paul Osenar, Chief Technology Officer for Protonex. "Optimizing 
our advanced fuel cell systems for smaller, higher volume production UAVs will 
help us broaden our access to other military and commercial markets." 
 
 
 
 
- ENDS - 
 
 
Enquiries 
Protonex Technology CorporationTel: +1 508 490 9960 
Scott Pearson, Chief Executive Officer 
Margaret Dorsheimer, Director of Marketing 
 
 
Redleaf Communications Limited     Tel: +44 (0)20 7566 6700 
Press and Investor Relationsprotonex@redleafpr.com 
Samantha Robbins 
Paul 
Dulieu 
 
 
Piper Jaffray Ltd. Tel: +44 (0)20 3142 8700 
Nominated Adviser 
Michael Covington 
James Steel 
 
 
 
 
Notes to Editors 
 
 
About Protonex Technology Corporation 
www.protonex.com 
Protonex Technology Corporation develops and manufactures compact, lightweight 
and high- performance fuel cell systems for portable power applications in the 
100 to 1000-watt range. The Company's fuel cell systems are designed to meet the 
needs of military, commercial and consumer customers for off-grid applications 
underserved by existing technologies by providing customizable, stand-alone 
portable power solutions and systems that may be hybridized with existing power 
technologies. The Company is headquartered in Southborough, Massachusetts. 
 
 
About AeroVironment, Inc. (AV) 
www.avinc.com 
Building on a history of technological innovation, AV designs, develops, 
produces, and supports an advanced portfolio of Unmanned Aircraft Systems (UAS) 
and efficient electric energy systems. Agencies of the U.S. Department of 
Defense and allied military services use the company's hand-launched UAS to 
provide situational awareness to tactical operating units through real-time, 
airborne reconnaissance, surveillance, and target acquisition. Commercial and 
government entities use AV's clean transportation solutions such as electric 
vehicle test systems and electric vehicle fast charge systems, as well as its 
clean energy solutions. 
 
 
 
 
This announcement includes statements which are, or may be deemed to be, 
"forward-looking statements". All statements other than statements of historical 
facts included in this announcement, including, without limitation, those 
regarding Protonex' financial position, business strategy, plans and objectives 
of management for future operations (including development plans and objectives 
relating to Protonex' products and services) are forward-looking statements. By 
their nature, such forward-looking statements involve known and unknown risks, 
uncertainties and other important factors that could cause the actual results, 
performance or achievements of Protonex to be materially different from future 
results, performance or achievements expressed or implied by such 
forward-looking statements. These factors include but are not limited to those 
described in the Admission Document issued in connection with the Company's 
admission to AIM. 
 
 
Forward-looking statements may and often do differ materially from actual 
results. Any forward-looking statements in this announcement speak only as at 
the date of this announcement and are subject to risks relating to future events 
and other risks, uncertainties and assumptions relation to Protonex' operations, 
results of operations, growth strategy and liquidity. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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