Protonex Receives Additional $500,000 to Extend Capabilities of Unmanned Aerial Vehicle Propulsion Systems
June 02 2009 - 7:00AM
Business Wire
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 an additional $500,000 contract award from the U.S. Naval
Research Laboratory (NRL) for advanced development of high power
fuel cell systems for small unmanned aerial vehicles (UAVs). This
award is an extension of an existing contract with the NRL and will
focus on incorporating and testing Protonex� advanced fuel cell
power system within a tactical UAV.
Development work under this program will concentrate on
advancing the technical readiness of the company�s UAV fuel cell
platform through design improvements and stringent testing. The
advanced system will be integrated into a new NRL air vehicle
designed specifically for long endurance. The resulting UAV,
powered by the Protonex fuel cell system, will be targeted at
tactical missions and is expected to provide high efficiency and a
very low noise profile.
This program expands upon a series of efforts by Protonex to
transition its fuel cell power systems into fieldable UAVs. At
present, battery-powered electric UAVs are limited to one to three
hours of flight. Protonex power systems, integrated into other
small UAVs, have already demonstrated up to four times the flight
endurance capability of advanced batteries. With the introduction
of cutting-edge fuel cell propulsion systems from Protonex,
critical missions such as persistent surveillance, search and
rescue, chemical-biological monitoring, and other long-endurance
specialty missions can be achieved by smaller, more flexible, and
cost-effective UAVs.
�We�ve had great success in our previous collaborations with the
NRL, and the expansion of this UAV program validates those
results,� stated Dr. Paul Osenar, Chief Technology Officer,
Protonex. �Protonex looks forward to transitioning these advanced
systems into fielded military products in conjunction with the NRL
and other unmanned aircraft system integrators.�
Notes to Editors
About Protonex Technology
Corporationwww.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.
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