Follow-up order from DB Bahnbau Gruppe

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

29 October 2024

Proton Motor Power Systems plc

("Proton Motor" or the "Company")

Follow-up order from DB Bahnbau Gruppe

Proton Motor Power Systems plc (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems with a zero-carbon footprint, is pleased to announce a further follow-up order, for a complete hydrogen fuel cell emergency power system, from DB Bahnbau Gruppe GmbH (the "Customer"), a subsidiary of Deutsche Bahn AG, Germany's leading full-service provider for rail infrastructure.

This follow-up order of the Company's HyCabinet S48 fuel cell emergency power system has a rated power output of 48 kVA and represents the 26th system ordered by the Customer since the signing of the cooperation agreement between Proton Motor and DB Bahnbau Gruppe GmbH in 2015 and the third order under the Customer's brand name EnerRail.

As noted in the Company's announcement on 22 August 2024 as well as 23 September 2024, Proton Motor is in discussions with other potential sources of finance in order to allow the Company to continue to operate beyond 31 December 2024. While funding discussions continue to remain relatively early-stage in nature, it is anticipated that subject to the satisfactory conclusion of such discussions, the order for the Customer would be able to proceed for delivery in 2025. There is no certainty that any such funding discussions will conclude nor as to the timings or terms of such funding.

Image 1: The components of the system

Image 2: Onsite layout and installation of the railway control centre

Dr. Faiz Nahab, CEO of Proton Motor, said:

"We are pleased to receive this latest order from DB Bahnbau Gruppe GmbH, which reaffirms their confidence in our industry-leading hydrogen fuel cell technologies. We are continuing to progress funding discussions with prospective partners and are working hard to secure the resources necessary to fulfil this order and future ones as well. We will provide investors with an update regarding the progress of these funding discussions in due course."

For further information:

About Proton Motor

Proton Motor has 25 years of experience in Power Solutions using CleanTech technologies such as hydrogen fuel cells, fuel cell and hybrid systems with a zero carbon footprint. Based in Puchheim near Munich, Proton Motor develops and produces standard Products as well as customised solutions.  The focus of Proton Motor is on stationary solutions, as well as heavy-duty, marine and rail applications.  The product portfolio consists of base-fuel cell systems, standard complete, as well as customised systems.

Proton Motor Fuel Cell GmbH is a wholly owned subsidiary of Proton Motor Power Systems plc. The Company has been quoted on the AIM market of the London Stock Exchange since October 2006 (code: PPS).