Proton Power sets up joint-venture with German carmaker

Fuel cell outfit Proton Power Systems has agreed to establish a joint venture with electric carmaker e.GO Mobile that will see the London-listed group build a range extender for the German startup's mini-buses.

Proton revealed on Monday that it had agreed in principle to establish the joint venture with e.GO Mobile to develop and produce a scalable, cost-effective fuel cell range extender for the e.GO Mover.

Proton, which offers complete fuel cell and hybrid systems from a single source, from the development and production through to the implementation of customized solutions, noted that the systems would also be available for other applications in the market.

The clean power solutions company launched its fourth generation of high-efficiency stacks and fuel cell systems earlier in the year.

Proton's new products are lighter weight and include higher integration single stack modular designs which cover power ranges from 2 to 16 kW in the lower power class and from 15 to 75 kW in the upper power class.

As of 1130 BST, Proton Power shares had climbed 6.67% to 6p.