$2m Contract To Further Develop SOFC Power Systems
22 9월 2009 - 3:00PM
UK Regulatory
TIDMPTX TIDMPTXU
RNS Number : 4204Z
Protonex Technology Corporation
22 September 2009
FOR IMMEDIATE RELEASE
September 22, 2009
PROTONEX awarded $2.0 MILLION CONTRACT TO FURTHER develop
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 $2.0 million contract award from the U.S. Army to build,
test and deliver solid oxide fuel cell (SOFC) power systems. This program will
focus on advancing the robustness of Protonex' SOFC power systems operating on
high-performance liquid fuels.
This 12-month contract builds upon a prior program with the U.S. Army and will
focus on system integration and
testing in order to develop a fully integrated
liquid fuel generator system. 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 pleased to have received this significant award from the U.S. Army,"
stated Dr. Jerry Martin, Vice President of SOFC Development for Protonex. "This
additional program further validates the growing interest by the U.S. military
to identify new power solutions for soldiers and vehicles. This program will
allow us to accelerate the conversion of our SOFC systems to liquid fuels and
further advance our leading-edge SOFC platforms for military and commercial
markets."
- ENDS -
Enquiries
Protonex Technology CorporationTel: +1 508 490 9960
Scott Pearson, Chief Executive Officer
Margaret Dorsheimer, Director of Marketing
Redleaf Communications Limited Tel: +44 (0)20 7566 6700
Press and Investor Relations protonex@redleafpr.com
Samantha Robbins
Paul Dulieu
Piper Jaffray Ltd. Tel: +44 (0)20 3142 8700
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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