20th Jul 2015 07:51
LONDON (Alliance News) - Fuel cell developer Proton Power Systems PLC on Monday said it has signed a deal with DB Bahnbau Gruppe GmbH, the German rail network infrastructure installation and maintenance company.
Under the deal, Bahnbau will sell and install Proton's containerised fuel-cell systems to Deutsche Bahn, the German rail operator.
No financial details were disclosed on the deal.
"This is a key milestone for our company and fits well within the recent expansion of our manufacturing facilities enabling large quantity manufacturing capacity," said Proton Chief Executive Faiz Francoise Nahab.
Proton Power shares were up 13% on the news to 8.211 pence, one of the best performers in the London Main Market.
By Sam Unsted; [email protected]; @SamUAtAlliance
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