Proton Motor Power Systems PLC - designer and producer of hydrogen fuel cells and hydrogen fuel cell electric hybrid systems - Receives follow-up order from DB Bahnbau Gruppe GmbH, a subsidiary of the German national railway company Deutsche Bahn AG, for a complete hydrogen fuel cell emergency power system. The system has a rated power output of 48 kilo-volt-amperes, and is the 26th system ordered by the Deutsche Bahn subsidiary since the two businesses signed a cooperation agreement in 2015. Its also the third order under the client’s new brand name, EnerRail.
The order comes as reluctant market activity leaves Proton Motor Power Systems at risk of ceasing its operations by the calendar year-end. Chief Executive Officer Faiz Nahab says: ‘We are continuing to progress funding discussions with prospective partners and are working hard to secure the resources necessary to fulfil this order and future ones as well.’
Current stock price: 0.84 pence, up 19% in London on Tuesday afternoon
12-month change: down 85%
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