UK Proton Power sales grow in H1 2011

Sep 29, 2011 - UK fuel cell maker Proton Power Systems Plc (LON:PPS) saw its revenue grow to GBP 385,000 (USD 603,000/EUR 442,000) in the first half of 2011 from GBP 210,000 a year earlier.

The company reported a net loss for the period of GBP 3.9 million, compared with GBP 1.7 million. The result included a fair value loss of GBP 1 million on embedded derivatives.

Proton Power's chairman, John Wall, said that the popularity of fuel cells as an alternative to conventional power systems is growing. He said there was a huge number of project requests, especially in the stationary, maritime and transport vehicle area.

(GBP 1 = USD 1.567/EUR 1.149)

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