Proton signs deal with German sales partner
Proton Power's subsidiary, Proton Motor Fuel Cell, has signed a co-operation agreement with Modl to provide interruption-free and energy efficient storage for the stationary power supply market.
Proton Power's subsidiary, Proton Motor Fuel Cell, has signed a co-operation agreement with Modl to provide interruption-free and energy efficient storage for the stationary power supply market.
Both partners will offer complete solutions for Uninterrupted Power Supply (UPS) and grid shaving applications based on Proton Motors' hydrogen fuel cell technology and Modl's product portfolio.
The development is particularly relevant in Germany, given the recent shutdown of nuclear power stations and the growing reliance on renewable energy supplies which are intermittent requiring increased storage, the firm said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Modl, Proton Motor's sales partner in southern Germany, has many years' experience in the market and a large customer base for stationary power supply.
Thomas Melczer, Director of Business Development said: "Partnering with Modl, the leading supplier of intelligent power system solutions, demonstrates that Proton Motor is a key supplier of hydrogen-based fuel cell technology in Germany.
"The market for energy efficient backup power supply is expected to experience significant growth in the near future, as expected power outages and power supply shortages become the focus of operators of mission critical applications such as hospitals, data centres, telecommunications companies and airports."
The products are specially engineered to provide a long period of backup power of over five hours, and will range from five to 120 kilowatts. The first joint projects are underway.
The share price rose 6.67% to 2.00p by 09:58.
NR
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published