Proton Power Systems PLC Appointment of financial advisor (8572B)

TIDMPPS

RNS Number : 8572B

Proton Power Systems PLC

07 April 2017

 
        07 April 2017 
 

Proton Power Systems plc

("Proton", "Proton Power" or the "Company")

Appointment of financial advisor

Proton Power Systems plc (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems, today announces the appointment of BHF Bank Frankfurt to seek additional international industrial investors for the Company.

Proton Power has made further progress in the period with delivery of commercial contracts in proven technology, strategic co-operations and building the sales pipeline for an increase in the order book. Further investment in the manufacturing capability has put the company in a very strong strategic position to capitalise in the marketplace and to deliver financial performance. Proton Power has strengthened its organisation to be able to deliver complete power supply solutions. Proton Power adds value to clients through fuel cell expertise and system solution and know-how.

Ian Peden, Chairman of Proton Power, commented: "the Company is seeking partners with international sales reach and experience in large scale manufacturing to take the Company to the next stage, satisfying the large demand for hydrogen fuel cells.

The idea is that the strategic partner and shareholder would be able to assist Proton Power with the scale-up required to satisfy the envisaged demand. Now is the right time to find additional investors and partners as the market demand is growing fast and Proton Power is taking the business to the next level. Proton Power, with the help of BHF Bank, is presently in discussions with many different corporations in Germany, Europe, China and USA."

For further information:

 
 Proton Power Systems plc 
 Dr Faiz Nahab, CEO 
 Ian Peden, Chairman                        Tel: +49 (0) 162 
                                                    101 6470 
                                         www.proton-motor.de 
 Stockdale Securities Limited 
  Nominated adviser and broker               Tel: +44 (0) 20 
                                                   7601 6100 
 Antonio Bossi / David Coaten    www.stockdalesecurities.com 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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April 07, 2017 02:00 ET (06:00 GMT)