Proton Motor Secures Repeat Order from German Railway for Hydrogen Power System
Key Ideas
- Proton Motor Power Systems received a follow-up order for a hydrogen fuel cell emergency power system from DB Bahnbau Gruppe GmbH, a subsidiary of Deutsche Bahn AG.
- The system has a rated power output of 48 kilo-volt-amperes and marks the 26th system ordered by the Deutsche Bahn subsidiary since 2015.
- Despite facing uncertain market conditions, the CEO remains optimistic and is actively seeking funding to fulfill current and future orders.
- The company's stock price increased by 19% in London, indicating positive market sentiment towards the latest development.
Proton Motor Power Systems PLC, a manufacturer of hydrogen fuel cells and fuel cell electric hybrid systems, has received a repeat order from DB Bahnbau Gruppe GmbH, a subsidiary of Deutsche Bahn AG, for a complete hydrogen fuel cell emergency power system. This system, with a power output of 48 kilo-volt-amperes, is the 26th such system ordered by the subsidiary since their collaboration began in 2015. The order, executed under the client's new brand, EnerRail, signifies continued trust in Proton Motor's technology. Despite facing challenges due to market conditions that could potentially lead to operational cessation by the year-end, Chief Executive Officer Faiz Nahab remains positive. The company is actively engaged in funding discussions with potential partners to fulfill the current order and secure future projects. The stock price of Proton Motor increased by 19% in London following the announcement, hinting at investor confidence in the company's capabilities and future prospects in the hydrogen fuel cell sector.