| | 15 November 2021
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Proton Motor Power Systems plc
("Proton Motor" or the "Company")
Update on the marine sector
Proton Motor Power Systems plc (AIM: PPS), Europe's leading designer, developer and producer of fuel cells and electric hybrid systems with a zero-carbon footprint, is pleased to provide two updates in relation to agreements it has entered into with Torqeedo GmbH ("Torqeedo") and ACUA Ocean Limited ("ACUA Ocean").
Torqeedo, part of the Deutz Group (www.deutz.com), is a leader in electric mobility on water offering electric and hybrid drives from 0.5 to 100kW for commercial and recreational use. Proton Motor is working on a project with Torqeedo to develop a marine hydrogen hybrid system building kit, which will be able to deliver fuel cell powers between 30 and 120 kW and variable hydrogen storage capacity. The project will complement Torqeedo's existing Deep Blue Hybrid portfolio of marine drive systems. Proton Motor is pleased to announce that the project has now received funding by the Bavarian federal government.
ACUA Ocean has recently announced that it received two funding grants to develop the world's first zero-carbon emission long-endurance USV powered by liquid hydrogen, with a combined project value of £1.05m. The grants for the feasibility (in partnership with the University of Southampton Marine and Maritime Institute) and demonstration projects commenced in September and see ACUA Ocean working with shipbuilders PDL Marine; ship fitting and electrical outfitting is being carried out by Lowestoft-based firms SMS and Trident Marine Electrical, while the hydrogen fuel cell is being developed by Proton Motor.
For further information:
| Proton Motor Power Systems plc | |
| Dr Faiz Nahab, CEO Helmut Gierse, Chairman Brendan Bilton, Investor and Business Relations Roman Kotlarzewski, CFO Antonio Bossi, Non-Executive Director, Investor Relations |
Tel.: +44 (0) 7798 554 191 Tel: +49 (0) 173 189 0923
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| Shore Capital Nominated adviser and broker |
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| Tom Griffiths / David Coaten | Tel: +44 (0) 20 7408 4050 www.shorecap.co.uk |
About Proton Motor Fuel Cell GmbH
Proton Motor has more than 20 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 offers complete fuel cell and hybrid systems from a single source - from the development and production through the implementation of customized solutions. The focus of Proton Motor is on back-to-base, for example, for mobile, marine, stationary and rail solutions applications. The product portfolio consists of base-fuel cell systems, standard complete systems, as well as customized systems.
Proton Motor serves IT, Telecoms, public infrastructure and healthcare customers in Germany, Europe and Middle East with power supply solutions for DC and AC power demand. In addition to power supply, SPower also offers solutions for Solar Systems as well as a new product line for Solar Energy Storage.
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).
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