TP Group PLC Hydrogen system contract

TIDMTPG

TP Group PLC

16 February 2021

16 February 2021

TP Group plc

("TP Group" or the "Company" or the "Group")

Hydrogen system contract

TP Group (AIM: TPG), the providers of mission-critical solutions for a more secure world, announces that it has signed a contract with a train leasing company to supply hydrogen fuel cell systems for passenger trains.

This contract is part of an initiative that aims to demonstrate the safe and economic operation of hydrogen powered trains for future public transport opportunities. It initially covers the supply of safety-critical hydrogen fuel cell systems that convert hydrogen into electricity to ultimately power the trains.

TP Group is acting as the prime contractor for the integrated hydrogen fuel system, building upon the Group's preliminary consulting work to define system requirements and specify a suitable system configuration for safe operation in this application. The system will be deployed on a modified passenger train for a series of proving and demonstration activities.

The initial project will take approximately six months to complete.

Phil Cartmell, Chief Executive Officer of TP Group, commented:

"This is an excellent opportunity for our hydrogen business and seeks to leverage our significant expertise created over many years operating atmosphere and gas management solutions, where we focus particularly on the safety aspects of working with gases such as hydrogen. It is very exciting to see the uptake of hydrogen fuel in new markets such as rail transport, where operator and passenger safety are such critical factors.

Over the last year we have been establishing partnerships with platform builders and operators across these new sectors, as well as working closely with our established supply-side network to be able to bring world-class engineering services, innovation and proven technologies safely to market at such a key time in the green-fuel revolution."

For further information, please contact:

 
  TP Group plc                                      Tel: [phone] 
  Phil Cartmell, Chief Executive Officer 
  Derren Stroud, Chief Financial Officer 
  www.tpgroup.uk.com 
 
  Cenkos Securities plc                             Tel: [phone] 
  Stephen Keys / Mark Connelly / Callum Davidson 
  www.cenkos.com 
 
  Vigo Communications                               Tel: [phone] 
  Jeremy Garcia / Charlie Neish 
  www.vigocomms.com 
 

Notes to Editors

TP Group delivers complex equipment, software and services for mission, business and safety critical applications in the defence, space, and energy sectors. With more than 400 people in 6 European countries, it serves global customers through long-term contracts. The Group's shares have been traded on AIM since July 2001.

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February 16, 2021 02:00 ET (07:00 GMT)