PTXU Protonex

 

TIDMPTX TIDMPTXU 
 
RNS Number : 3431O 
Protonex Technology Corporation 
05 March 2009 
 

 
 
 
 
FOR IMMEDIATE RELEASE 
 
 
March 5, 2009 
 
 
 
 
PROTONEX awarded program TO FURTHER develop Solid oxide 
 fuel cell power 
systemS 
 
 
DATELINE: SOUTHBOROUGH, MA; Protonex Technology Corporation (LSE: AIM: PTX and 
PTXU), a leading provider of advanced fuel cell power systems announces that, as 
anticipated, it has received confirmation of a $1,481,470 contract award from 
the U.S. Army to adapt its solid oxide fuel cell (SOFC) power systems for 
operation on alternative fuels. This program will focus on advancing 500 Watt to 
1,000 Watt SOFC power systems that operate on high-performance liquid fuels, 
including alternative, bio-derived fuels such as butanol and bio-diesel. 
 
 
Under the terms of this 24-month contract, Protonex will further develop and 
advance its existing SOFC systems operating on liquid fuels such as butanol, 
bio-diesel, gasoline, and kerosene. This work will focus on fuel processing, 
demonstration of high-power-density, mechanically robust stacks and optimization 
of a complete generator-culminating in a demonstration of generator performance 
and lifetime. At the conclusion of the program, two fuel cell systems will be 
delivered to the Army for further testing and evaluation. 
 
 
There is growing military and commercial interest in the use of alternative or 
renewable fuels to reduce dependence on foreign oil. Solid oxide fuel cells, 
with their low emissions and high efficiency, are well-suited to generate 
electricity from these "green" fuel sources. Fuel-flexible generators capable of 
operating on both traditional and alternative liquid fuels can provide highly 
efficient electricity generation from both today's transportation fuels and the 
biofuels of tomorrow. 
 
 
Development of these small SOFC systems will provide the military with 
lightweight, extremely quiet and fuel efficient systems that could be used in 
powering equipment during field operations as an auxiliary power unit (APU), 
portable generator or field battery charger. In addition to being quieter than 
combustion-engine generators and lighter than batteries, these fuel cell systems 
can efficiently process high-performance liquid fuels to maximize the energy of 
the complete power system. 
"We are pleased to have received this significant award," commented Dr. Jerry 
Martin, Vice President of SOFC Development for Protonex. "Clean and quiet power 
generators that operate on readily available fuels are in high demand for 
military and commercial markets.  This program will accelerate our SOFC product 
development at Protonex and allow us to further advance our leading-edge SOFC 
platforms." 
 
 
 
 
- 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. 
 
 
 
 
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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