PPS Proton Motor Power Systems Plc

28 October 2024

Proton Motor Power Systems plc

("Proton Motor" or the "Company")

Directorate change

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, announces that Manfred Limbrunner is no longer Director of Proton Motor with immediate effect.

As announced on 23 September 2024, all employees based at the Company's Puchheim office were informed of the intention to terminate their contracts at the end of the requisite notice period under German law and/or as envisaged by their contracts of employment. It is not intended that the Company will seek to replace Mr Limbrunner on the Board of Proton Motor until such time that the future financing of the Company has been determined. The directors of Proton Motor continue to seek alternative sources of finance to continue to operate beyond 31 December 2024 and will provide further updates in due course.

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

"The Board cordially thanks Manfred Limbrunner for his years of extremely valuable contributions to the Company."

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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).