PPS Proton Motor Power Systems Plc

22 May 2024

Proton Motor Power Systems plc

("Proton Motor" or the "Company")

Directorate changes

Proton Motor 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 Mr. Helmut Gierse has informed the Company that he is retiring as Chairman of the Board and a Director of Proton Motor with immediate effect.

The Company is pleased to announce that Mr. Ali Naini has been appointed as Chairman of the Board, effective immediately. Mr. Ali Naini joined the Board of Proton Motor as a Non-Executive Director on 31 May 2023.

Dr Faiz Nahab, CEO of Proton Motor, commented: "The Board wishes Mr. Helmut Gierse a healthy and long retirement and cordially thank him for the 15 years of extremely valuable advice and support.

"As we stand uniquely well placed to take advantage of the adoption of hydrogen fuel cells across multiple markets, we are delighted to welcome Mr. Ali Naini on his appointment to the Chair on the Board, having been a non-executive Director of the Company since 2023. Mr. Ali Naini brings a wealth of finance and commercial experience in the cleantech sector, developed over a distinguished career and we look forward to his sage counsel at this very exciting time for the Company."

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About Proton Motor Fuel Cell GmbH

Over 25 years Proton Motor has developed proven fuel cell products and systems.  With its established position in the multi billion-dollar addressable fuel cell market, the company is uniquely well placed to capture the significant and fast growing demand for Power Solutions using CleanTech technologies such as hydrogen fuel cells, fuel cell and hybrid systems with a zero-carbon footprint. Based in Puchheim near Munich, Proton Motor offers complete fuel cell and hybrid systems from a single source - from the development and production through the implementation of customised solutions.  The product portfolio consists of base-fuel cell systems, standard complete systems, as well as customised systems. The Company's strategic focus is serving customers with a need for long duration uninterrupted power supply, namely the Stationary, On/Off Highway Mobility sectors as well as Marine and Rail.

Proton Motor Power Systems plc has been quoted on the AIM market of the London Stock Exchange since October 2006 (code: PPS).