27th Nov 2019 14:57
(Alliance News) - Proton Power Systems PLC said Wednesday it has signed a letter of intent with APEX Energy Teterow GmbH to provide 10 fuel cell containers within two years.
Proton Power said the containers can provide up to 150 kilowatt fuel cell systems.
"The [letter of intent] also includes the intention, at an appropriate time point in the future, to offer licensing agreements, whereby the licensees will produce Proton fuel cell containers with capacity of up to 500 kilowatts," the company added.
Proton Power - which designs and develops fuel cells - already has received an order worth EUR630,000 from APEX, which was agreed in May.
Shares in Proton Power were down 4.5% in London on Wednesday at 20.06 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
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