PTX Protonex Regs

 

TIDMPTX TIDMPTXU 
 
RNS Number : 3642W 
Protonex Technology Corporation 
28 July 2009 
 

 
 
 
 
 
 
FOR IMMEDIATE RELEASE 
 
 
July 28, 2009 
 
 
 
 
PROTONEX AND ULTRACELL 
PARTNER to develop and MARKET new portable power solutions 
 
 
DATELINE: SOUTHBOROUGH, MA; Protonex Technology Corporation (LSE: AIM: PTX and 
PTXU), a leading provider of advanced fuel cell power systems, today announces 
that it has partnered with UltraCell Corporation, a producer of portable fuel 
cell products, to cooperate in the development, marketing, demonstration, 
commercialization, and sale of advanced fuel cell power solutions and fuels for 
the U.S. Military. 
 
 
Under the terms of the agreement, the companies plan to focus on three distinct 
types of cooperative efforts: 
1) collaboration on existing military 
hardware, 2) development of a common fuel, and 3) joint sales and marketing 
efforts.  On the hardware side, the companies will integrate and test power 
solutions using UltraCell's XX25 and XX55 fuel cell power sources with Protonex' 
Soldier Power Manager (SPM) and Battlefield Power Manager (BPM) products.Both 
companies will further develop and promote a new portable power plug-and-play 
standard for the U.S. Military. The resulting power solutions are anticipated 
to add significant customer advantages to deliver specific portable power 
capabilities that are currently unavailable to the market. 
 
 
On the fuel side, Protonex and UltraCell share a common methanol/water fuel 
mixture in their portable power systems 
as both systems are based on Reformed 
Methanol Fuel Cell (RMFC) technology.  A joint goal for both companies, and one 
of significant value to military customers, will be to achieve a truly universal 
fuel for both Protonex and UltraCell portable power systems through common 
specifications, packaging/interconnections, extensive testing, 
and supplier 
qualification. 
Finally, both companies intend to support each other in joint marketing and 
sales for these specific power solutions.UltraCell's fuel cell products 
currently provide power below the 100 watt range while Protonex' series of 
products output between 100 to 1,000 watts of power, making UltraCell's XX25 and 
XX55 watt products fully complementary with Protonex' M250-CX fuel cell system 
operating at 250 watts and above. Protonex' SPM and BPM series of power managers 
are compatible with a wide range of fuel cells and military hardware above and 
below 100 watts.  These Protonex power management products dramatically reduce a 
soldier's logistics burden by minimizing the number and type of batteries and 
other power sources a soldier must carry.  Both Protonex and UltraCell offer 
advanced power solutions that are designed to meet the stringent, rugged power 
needs of demanding military and commercial applications. 
 
 
"We are very pleased to be partnering with UltraCell to combine our robust power 
solutions and to accelerate our sales and marketing efforts," stated Greg 
Cipriano, Vice President, Military Development & Marketing for Protonex. "We 
expect that our combined complementary product platforms to result in portable 
power solutions that offer significantly enhanced capabilities for our military 
customers. The U.S. Military has been searching for a universal portable power 
solution and fuel for a long time, and we now have the combined team and work 
effort that can deliver on that vision." 
 
 
In July and in partial support of this effort, the United States Army awarded 
Protonex an additional $345,000 contract. The purpose of this contract is to 
continue work on advanced intelligent soldier portable power solutions, 
including extensive interoperability testing between the UltraCell XX25 fuel 
cell and the Protonex SPM and BPM power managers for a wide variety of field 
applications. 
 
 
 
 
 
 
- ENDS - 
 
 
Enquiries 
Protonex Technology CorporationTel: +1 508 490 9960 
Scott Pearson, Chief Executive Officer 
Margaret Dorsheimer, Director of Marketing 
 
 
Redleaf Communications Limited     Tel: +44 (0)20 7566 6700 
Press and Investor Relations protonex@redleafpr.com 
Samantha Robbins 
Paul Dulieu 
 
 
Piper Jaffray Ltd. Tel: +44 (0)20 3142 8700 
Nominated Adviser 
Michael Covington 
James Steele 
 
 
 
 
Notes to Editors 
 
 
About Protonex Technology Corporation 
 
www.protonex.com 
 
Protonex Technology Corporation develops and manufactures compact, lightweight 
and high- performance fuel cell systems for portable power applications in the 
100 to 1000 Watt range. The Company's fuel cell systems are designed to meet the 
needs of military, commercial and consumer customers for off-grid applications 
underserved by existing technologies by providing customizable, stand-alone 
portable power solutions and systems that may be hybridized with existing power 
technologies. The Company is headquartered in Southborough, Massachusetts. 
 
 
 
About UltraCell 
www.ultracellpower.com 
UltraCell is a leading producer of fuel cell systems for mobile devices. With 
an exclusive license with Lawrence Livermore National Laboratories for 
micro fuel cell technology, the company has developed new technologies and 
intellectual property in the field of methanol-based fuel cells. Its 
patented, award-winning portable fuel cell, the XX25(TM), achieved Technology 
Readiness Level (TRL) 7 status, a significant U.S. Army milestone and 
certification for military use and commercial production. 
 
 
 
 
This announcement includes statements which are, or may be deemed to be, 
"forward-looking statements". All statements other than statements of historical 
facts included in this announcement, including, without limitation, those 
regarding Protonex' financial position, business strategy, plans and objectives 
of management for future operations (including development plans and objectives 
relating to Protonex' products and services) are forward-looking statements. By 
their nature, such forward-looking statements involve known and unknown risks, 
uncertainties and other important factors that could cause the actual results, 
performance or achievements of Protonex to be materially different from future 
results, performance or achievements expressed or implied by such 
forward-looking statements. These factors include but are not limited to those 
described in the Admission Document issued in connection with the Company's 
admission to AIM. 
 
 
Forward-looking statements may and often do differ materially from actual 
results. Any forward-looking statements in this announcement speak only as at 
the date of this announcement and are subject to risks relating to future events 
and other risks, uncertainties and assumptions relation to Protonex' operations, 
results of operations, growth strategy and liquidity. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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