Proton Power Systems Signs Fuel Cell Supply Agreement with APEX Energy

By November 27, 2019

November 27, 2019

Proton Power Systems plc (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems with a zero-carbon footprint, announces that further to the receipt of the order for €630K from APEX Energy Teterow GmbH (“APEX”), which was announced on 14 May 2019, it has signed a letter of intent (“LoI”) with this customer.

The LoI envisages concluding a frame agreement within a consortium, in order to provide 10 fuel cell containers with up to 150 kW fuel cell systems within a 2 year period commencing in 2020.

The LoI also includes the intention, at an appropriate time point in the future, to offer licensing agreements, whereby the licensees will produce Proton Fuel Cell containers with a capacity of up to 500kW.

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