Proton set to commercialise hydrogen fuel cell systems
Nov 3 2010 by Peter McCusker, The Journal
AFTER raising £20m to fund research and development, Newcastle-based plc Proton is set to commercialise its ground-breaking hydrogen fuel cell systems following successful trials with North East electric vehicle company Tanfield.
Proton chairman John Wall, who was introduced to the company by North East entrepreneur Karl Watkin, helped float it on the London Stock market in 2006.
To date, it has raised over £20m to fund product development, with London property company Roundstone Properties being the major shareholder with almost 80% of its stock.
Proton has now successfully completed tests of its hydrogen fuel cell system on some of the electric vehicles made by Tanfield plc of Washington.
The trials demonstrated that Proton’s fuel cell systems are able to double the range of Tanfield’s existing battery-powered vehicles from 100km to 200km.
Mr Wall, the former head of PricewaterhouseCoopers’ Newcastle corporate finance team who still lives in Northumberland, said: “The successful completion of the trials has shed light on the huge potential of the systems we make.
“After years of research and development, the opportunities we identified are now in the process of being realised. We expect to be making profits within three years.”
Tanfield has trialled Proton’s range extender systems in its smaller Edison range of electric trucks.
The initial phase of the operation, which began in September, showed that the additional energy from Proton Power’s fuel cell system provided a significant increase to Edison’s operational range.
Thomas Melczer, CEO of Proton Power, said: “We are delighted that the first phase of testing for our range extender has been such a success and we believe it will provide a significant improvement for the market of electric powered light-duty vehicles.
“The improved range of operation opens up exciting new possibilities to the group as we begin to address a wider market segment.”
Although its registered base is in Newcastle, Proton operates from Munich, Germany, where it employs 54 people developing hydrogen fuel cells to help power electric vehicles.
Kevin Harkin, sales director for the Smith Electric Vehicles division of the Tanfield Group , said: “Enhancing the range capabilities broadens the application for electric vehicles within large fleets, without compromising our zero-emission philosophy.
“Through the trials, we have already received notable interest from fleet operators in the Proton Power system and we look forward to reporting on the next stage of development.”
