Protonex Teams with Cummins to Jointly Promote Fuel Cell Power Solutions in the Recreational Vehicle Industry
September 15 2009 - 7:00AM
Business Wire
Protonex Technology Corporation (LSE: AIM: PTX and PTXU), a
leading provider of advanced fuel cell power systems, today
announced that it has partnered with Cummins Onan, a business group
of Cummins Inc. (NYSE: CMI), a global leader in power generation
and distribution, to cooperate in the promotion of advanced fuel
cell power solutions into the recreational vehicle (RV) market.
Under the terms of the agreement, Protonex and Cummins Onan plan
to jointly conduct rigorous field testing of the Protonex M250-B
fuel cell power system within RVs and Cummins will provide Protonex
with selected marketing assistance at trade shows and other related
events. In addition, Cummins is in the process of becoming a
certified installer of Protonex fuel cell systems developed for
RVs. The resulting testing, certification and promotional efforts
are expected to facilitate the delivery of Protonex fuel cell power
solutions to the RV market.
“Protonex is very pleased to have been selected by Cummins as a
partner for providing advanced fuel cell power solutions to the RV
market,” stated Scott Pearson, CEO of Protonex. “Teaming with the
global industry leader in commercial mobile power generation will
have a significant impact on our ability to reach the RV market and
will enable us to broaden the accessibility of fuel cell power
solutions to consumers and the commercial mobile market.”
Ed Pickens, RV Marketing Manager for Cummins Power Generation
added, “We look forward to working with Protonex to explore
applications for fuel cell technology in the RV market. As the RV
market evolves, we see a role for fuel cells as a solution for
mobile power needs.”
Protonex plans to display its M250-B fuel cell power system in
the Cummins Onan Booth (Booth H) at the 41st Annual Pennsylvania RV
and Camping Show—one of America’s largest RV shows—September 16-20,
2009.
The M250-B power system leverages breakthrough advances in fuel
cell and hybrid power technology developed by Protonex. The
proprietary technology blends the advantages of a fuel cell power
generator with conventional hybrid batteries. The M250-B runs on
safe, clean, biodegradable methanol fuel. The system is configured
to seamlessly integrate with existing power components typically
found in an RV, including deep cycle batteries, generators,
inverters, chargers, solar panels, and alternators.
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.
About Cummins Onanwww.cumminsonan.com
Cummins Onan Generators is a brand of Cummins Power Generation,
a subsidiary of Cummins Inc. Cummins Inc. (NYSE: CMI), a global
leader that manufactures, distributes and services engines, fuel
systems, controls, air handling, filtration, emission solutions and
electrical power generation. Headquartered in Columbus, Indiana,
(USA) Cummins serves customers in more than 160 countries through
its network of 550 company-owned and independent distributor
facilities and more than 5,000 dealer locations. The Cummins Onan
brand is found on generators and products manufactured for the RV,
marine, commercial, residential and portable generator markets.
Press releases can be found on the web at www.cumminsonan.com.
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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