29th Apr 2016 08:19
LONDON (Alliance News) - Proton Power Systems PLC on Friday said it has secured a fuel cell emergency power units order from an unnamed "blue chip customer", sending its shares higher in morning trade.
Proton said the total order is worth EUR1.8 million and the systems are all expected to be delivered and installed in 2016. Further orders from the customer are expected in 2017, it added.
"This is a key milestone that will provide year on year revenue streams as commercialization of our core technology is now realized. Our continued investment in our manufacturing capability is now bearing fruits." said Faiz Francoise Nahab, chief executive of Proton.
Proton shares were up 24% to 4.19 pence on the news.
By Sam Unsted; [email protected]; @SamUAtAlliance
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