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Proton Motor Power Systems plc received an order from the University of Stuttgart for a containerised fuel cell power plant with a power output of up to 240 kW. Proton Motor anticipates delivery and revenue recognition for the plant in 2024, with electricity generation expected from the second quarter of 2024.
| Date | 2 Jun 2023 |
| Time | 07:00:03 |
| Category | Corporate updates |
| ID | 4122B |
2 June 2023
Proton Motor Power Systems plc
("Proton Motor" or the "Company")
New order from University of Stuttgart
Proton Motor Power Systems plc (AIM: PPS), the designer and producer of hydrogen fuel cells and hydrogen fuel cell electric hybrid systems, is pleased to announce that it has received an order from the University of Stuttgart for a containerised fuel cell power plant with a power output of up to 240 kW.
The "HyShelter®" plant will be integrated into a large industrial hydrogen research proving ground and is expected to generate power and supply electricity to the grid from the second quarter of 2024.
This project fits well the Company's market approach to offer turn-key solutions to its customers. Proton's vision is to support customers providing climate neutral solutions for electricity and heating production. In this respect, Proton's portfolio addresses applications such as uninterruptible emergency power supply, peak shaving and off-grid charging infrastructure.
Proton Motor anticipates that the plant will be delivered to the customer in 2024 and revenues recognised in that year.
For further information:
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Proton Motor Power Systems Plc |
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Dr Faiz Nahab, CEO |
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Helmut Gierse, Chairman |
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Roman Kotlarzewski, CFO |
+49 (0) 173 189 0923 |
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Antonio Bossi, Non-Executive Director |
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Investor relations: |
www.protonpowersystems.com |
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Allenby Capital Limited |
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Nominated Adviser & Broker |
+44 (0) 20 3328 5656 |
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James Reeve / Vivek Bhardwaj |
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About Proton Motor Fuel Cell GmbH
Proton Motor has 25 years of experience in Power Solutions using CleanTech technologies such as hydrogen fuel cells, fuel cell and hybrid systems with a zero carbon footprint. Based in Puchheim near Munich, Proton Motor develops and produces standard Products as well as customised solutions. The focus of Proton Motor is on stationary solutions, as well as mobile, marine and rail applications. The product portfolio consists of base-fuel cell systems, standard complete, as well as customised systems.
Proton Motor Fuel Cell GmbH is a wholly owned subsidiary of Proton Motor Power Systems plc. The Company has been quoted on the AIM market of the London Stock Exchange since October 2006 (code: PPS).
About University of Stuttgart
The University of Stuttgart develops sustainable energy solutions for industrial applications, mainly for process industry, and aims to bring them quickly to market.