Contract of upto $1m to advance SOFC power systems

 

TIDMPTX TIDMPTXU 
 
RNS Number : 3497D 
Protonex Technology Corporation 
01 December 2009 
 

 
 
 
 
 
 
FOR IMMEDIATE RELEASE 
 
 
1 December 2009 
 
 
 
 
PROTONEX awarded CONTRACT of up to $1.0 MILLION TO advance 
 Solid oxide fuel 
cell power systemS 
 
 
DATELINE: SOUTHBOROUGH, MA; Protonex Technology Corporation (LSE: AIM: PTX and 
PTXU), a leading provider of advanced fuel cell power systems today announced 
that it has received a contract award of up to $1.0 million, through the 
University of South Carolina (USC) Research Foundation and WinTec Arrowmaker, to 
build, test and deliver solid oxide fuel cell (SOFC) power systems to the U.S. 
Army. 
 
 
Under the terms of this 12-month contract, Protonex will continue to develop a 
fully integrated liquid fuel generator system.As part of the program, Protonex 
will increase the specific energy of the system through advanced fuel cell and 
stack development, and will increase the lifetime and reliability through 
rigorous testing of the completed systems. At the conclusion of the program, 
Protonex is expected to deliver multiple liquid-fuelled SOFC power systems to 
the Army for further testing and evaluation. 
There is growing military and commercial interest in the use of common liquid 
fuels, including alternative or renewable fuels to reduce dependence on foreign 
oil. Solid oxide fuel cells, with their low emissions and high efficiency, are 
well-suited to generate electricity from these high-energy-density fuel sources. 
Fuel-flexible generators capable of operating on both traditional and 
alternative liquid fuels can provide highly efficient electricity generation 
from both today's transportation fuels and the biofuels of tomorrow. 
 
 
Development of these small SOFC systems will provide the military with 
lightweight, extremely quiet and fuel efficient power 
systems that can be used 
as auxiliary power units (APUs), portable generators or field battery chargers. 
With further anticipated improvements, Protonex' portable SOFC systems could 
save more than 60% of the weight of existing power 
solutions and when used to 
power equipment directly, the fuel cell systems offer potential savings of more 
than 80% of the weight burden of primary batteries. 
"We are very pleased to have received another significant award to further 
evolve our SOFC systems," stated Dr. Caine Finnerty, Director, SOFC Development 
for Protonex. "The U.S. military has shown much interest in advanced portable 
power solutions for military applications with even greater interest in systems 
that can operate on multiple liquid fuels. This program will allow us to develop 
further our liquid-fueled systems for military testing and enable us to 
accelerate the conversion of our leading-edge SOFC systems for military and 
commercial markets." 
 
 
 
 
 
 
- ENDS - 
 
 
Enquiries 
Protonex Technology Corporation Tel: [phone] 
Scott Pearson, Chief Executive Officer 
Margaret Dorsheimer, Director of Marketing 
 
 
Redleaf Communications Limited     Tel: [phone] 
Press and Investor Relations [e-mail] 
Samantha Robbins 
Paul Dulieu 
 
 
Piper Jaffray Ltd. Tel: [phone] 
Nominated Adviser 
Michael Covington 
Rupert Winckler 
 
 
 
 
Notes to Editors 
 
 
About Protonex Technology Corporation 
www.protonex.com 
Protonex Technology Corporation develops and manufactures compact, lightweight 
and high- performance fuel cell systems for portable power applications in the 
100 to 1000-watt range. The Company's fuel cell systems are designed to meet the 
needs of military, commercial and consumer customers for off-grid applications 
underserved by existing technologies by providing customizable, stand-alone 
portable power solutions and systems that may be hybridized with existing power 
technologies. The Company is headquartered in Southborough, Massachusetts. 
 
 
 
 
This announcement includes statements which are, or may be deemed to be, 
"forward-looking statements". All statements other than statements of historical 
facts included in this announcement, including, without limitation, those 
regarding Protonex' financial position, business strategy, plans and objectives 
of management for future operations (including development plans and objectives 
relating to Protonex' products and services) are forward-looking statements. By 
their nature, such forward-looking statements involve known and unknown risks, 
uncertainties and other important factors that could cause the actual results, 
performance or achievements of Protonex to be materially different from future 
results, performance or achievements expressed or implied by such 
forward-looking statements. These factors include but are not limited to those 
described in the Admission Document issued in connection with the Company's 
admission to AIM. 
 
 
Forward-looking statements may and often do differ materially from actual 
results. Any forward-looking statements in this announcement speak only as at 
the date of this announcement and are subject to risks relating to future events 
and other risks, uncertainties and assumptions relation to Protonex' operations, 
results of operations, growth strategy and liquidity. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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