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(PTX.L) Protonex Technology Corporation Buy/Sell
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| Date/Time | Headline | Source |
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| 27-10-09 | RNS |
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RNS Number : 4038B Protonex Technology Corporation 27 October 2009
FOR IMMEDIATE RELEASE 27 October 2009
PROTONEX TRADING UPDATE DATELINE: SOUTHBOROUGH, MA; Protonex Technology Corporation (LSE: AIM: PTX and PTXU), a leading provider of advanced fuel cell power systems, today provides a trading update following its fiscal year end on 30 September 2009. The Company expects to announce its full year results in January 2010. During the year to 30 September 2009 Protonex made significant progress as it finalised several core technologies and prepared for a set of initial product launches during 2010. The Company's prime focus has been on developing high-value fuel cell products for which there is near term market demand and which are scalable. Those products must be robust as well as efficient and economic in comparison with alternative sources of energy. Protonex' unique combination of PEM (proton exchange membrane) and SOFC (solid oxide fuel cell) systems is emerging as a critical advantage for the Company, allowing it to offer multi-fuel capabilities and to target a broader set of addressable markets. The Directors believe that the Company is very well-positioned to compete in an attractive set of commercial, consumer and military markets in 2010 and beyond.
TRADING UPDATE Protonex expects to report a significant increase in total revenues for the second half of 2009, as compared with the first half of the year. Based on this strong second half, the Directors expect full year 2009 results to be in line with their expectations of revenue and cash flow. The US Military continues to increase its focus and associated funding on detached, portable, and unmanned systems. Protonex' cutting-edge products and technologies are receiving strong interest from a broad range of U.S. Military and government agencies and the Company expects future programme revenue to remain robust. The Company expects to report that government programme revenues in the second half of fiscal 2009 increased significantly over the first half of the year as the new US Administration took office and new contracts again began to flow to Protonex. Also, since many of the new programmes are for 12 months or more, the Company has a strong backlog of programme revenue for fiscal 2010.
PRODUCT PLATFORMS Protonex is tightly focused on developing and launching a series of advanced fuel cell products that deliver strong value propositions to a set of targeted commercial, consumer and military markets in 2010 and 2011. The Company continues to make steady progress on the development of its four major product platforms. 1) M250 Product Platform: Protonex' 250-watt methanol-fuelled product platform is the Company's most mature and enables several near-term products.
The M250-B product is currently scheduled for a 2010 launch into the RV and marine markets, both of which appear to be showing signs of recovery as the world economy begins to pull out of recession. As previously announced, Cummins (NYSE: CMI), a global leader in power generation and distribution, has partnered with Protonex to cooperate in the marketing of the M250-B system into the RV market. The Directors believe that the Cummins commitment provides important confirmation of the M250-B product's viability and value proposition in the leisure segment.
Earlier in 2009, Protonex shifted the M250-CX platform to its highest priority due to strong military interest and funding potential. Protonex is scheduled to deliver 22 M250-CX units to the US Military for testing and evaluation in late 2009 and a proposal has been submitted for a significant next-stage programme (up to $6 million over 24 months), including a product sales component of over 100 units. 2) Unmanned Aerial Vehicle (UAV) Power Systems: Protonex UAV power systems provide critical performance improvements and mission enhancements for small UAVs, delivering up to four times the flight duration compared to advanced battery systems. A recent performance indicator is the Company's 23-hour UAV flight earlier this month with the US Navy, far surpassing any flights by similarly-sized UAVs. Long duration, small UAVs remain one of the highest priorities for the US Military and Protonex has emerged as a leader in providing next generation power systems for this market space. The Company continues to receive significant, ongoing development contracts and funding from the US Air Force, Navy, SOCOM, and other branches and is currently in discussions with several UAV prime contractors. Protonex UAV power systems are moving rapidly from flight demonstrations to deployable products and the Company expects that its first shipment of products could take place in mid to late 2010. 3) Power Managers: Protonex' BPMTM and SPMTM power managers are small energy management devices designed to create an efficient and flexible "smart grid" on special forces and regular infantry personnel. Protonex' power managers can deliver up to a 30-50% improvement in energy use and corresponding weight. They also enable the use of solar, fuel cell, and other alternative power sources. Both the BPM and SPM units are complete as products and are now being tested and evaluated by several branches of the US Military domestically and in Iraq and Afghanistan. Management expects power managers to be the most likely source of near-term product revenue in its 2010 fiscal year. 4) SOFC Product Platforms: Protonex' SOFC platforms have made extensive progress in 2009. The Company recently demonstrated the operation of fully packaged SOFC systems running on propane and is pleased to announce that two of these units have been delivered to the US Army for testing and evaluation. The Company is also making good progress in the processing of more energy dense liquid fuels including kerosene, butanol, gasoline, and diesel. The Company was very successful during 2009 in securing military funding to help support its overall SOFC development efforts and Management expects this level of support to continue. As announced in July 2009, Protonex hired Dr. Caine Finnerty, a leading expert in SOFC and former CTO of Nanodynamics Inc. Subsequently, Protonex has hired several other key employees from Nanodynamics to enhance further the capabilities of the Company's SOFC team. In addition, the Company is participating in the bidding process for substantially all of the SOFC-related assets of Nanodynamics Energy Inc, which recently entered into US bankruptcy proceedings.
SUMMARY The Company's core business strategy remains unchanged and on track. The Company has launched two products in 2009 and expects additional product introductions during 2010. The Directors of Protonex are pleased with the Company's 2009 performance and remain confident in the Company's growth prospects in 2010 and beyond.
Enquiries
Scott Pearson, Chief Executive Officer Margaret Dorsheimer, Director of Marketing
Samantha Robbins Paul Dulieu
Nominated Adviser Michael Covington Rupert Winckler 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. 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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| 15-10-09 | RNS |
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RNS Number : 8014A Protonex Technology Corporation 15 October 2009
FOR IMMEDIATE RELEASE October 15, 2009
SMALL UNMANNED AERIAL VEHICLE COMPLETES RECORD 23-HOUR FLIGHT
USING PROTONEX FUEL CELL SYSTEM DATELINE: SOUTHBOROUGH, MA; Protonex Technology Corporation (LSE: AIM: PTX and PTXU), a leading provider of advanced fuel cell power systems, today announced that the Naval Research Laboratory (NRL), through a program sponsored by the Office of Naval Research (ONR), has documented a flight endurance record on their small, unmanned aerial vehicle (UAV), the Ion Tiger, utilizing a highly advanced fuel cell system from Protonex. The Ion Tiger UAV flew for over 23 hours, setting an unofficial endurance record for fuel cell powered flight, driven by the latest generation of Protonex' UAV power system. The 23+ hour duration of the Ion Tiger flight far surpasses the longest previous small UAV flight achieved using any technology. By incorporating the Protonex power system, the Ion Tiger was able to demonstrate seven times the endurance capability of advanced batteries. The Protonex UAV system that was used in the Ion Tiger demonstration is a high performance, ultralight proton exchange membrane [PEM] fuel cell system, coupling stack technology that can achieve 1,000 watts per kilogram with advanced balance of plant components. With the successful completion of this major milestone, Protonex is planning to continue transitioning this advanced power source into small UAV products with specific payloads and mission requirements for both military and commercial applications. The endurance capabilities proven in this program were previously achievable only with larger scale, more costly UAVs. Protonex is now confident that new critical missions can be achieved by smaller, more cost-effective UAV platforms that incorporate its advanced power systems. "This impressive 23-hour record flight milestone represents yet another successful collaboration with the NRL and is a culmination of all of our combined efforts to date," stated Dr. Paul Osenar, Chief Technology Officer, Protonex. "We share the ONR's vision towards bringing quiet electric propulsion and long endurance to today's small UAVs and to extend the capability to the warfighter."
Enquiries
Scott Pearson, Chief Executive Officer Margaret Dorsheimer, Director of Marketing
Samantha Robbins Paul Dulieu
Nominated Adviser Michael Covington Rupert Winckler 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. 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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| 01-10-09 | RNS |
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RNS Number : 0311A Protonex Technology Corporation 01 October 2009
FOR IMMEDIATE RELEASE October 1, 2009
PROTONEX TO EXHIBIT NEW PORTABLE POWER MILITARY PRODUCTS AT THE AUSA ANNUAL MEETING & EXPOSITION DATELINE: SOUTHBOROUGH, MA; Protonex Technology Corporation (LSE: AIM: PTX and PTXU), a leading provider of advanced fuel cell power systems, today announces that it will exhibit several of its new portable power military products at booth ¿402 at the upcoming Association of the United States Army (AUSA) Annual Meeting & Exposition in Washington, DC, October 5-7, 2009. The portable power systems on display at AUSA will include:
"The products we are exhibiting at this year's AUSA are designed to dramatically reduce soldiers' logistics burden, along with their carry weight and bulk, and built to significantly lower operational life cycle costs for a wide range of military applications," stated Greg Cipriano, VP Marketing and Military Development for Protonex. "These new products meet specific portable power demands of military field use and greatly expand our ability to provide innovative, high value power solutions that are currently unavailable with advanced batteries or alternative technologies."
Enquiries
Scott Pearson, Chief Executive Officer Margaret Dorsheimer, Director of Marketing
Samantha Robbins Paul Dulieu
Nominated Adviser Michael Covington Rupert Winckler 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. 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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| 22-09-09 | AFX UK Focus |
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LONDON, Sept 22 (Reuters) - Protonex Technology Corp:
((London Equities Newsroom; +44 20 7542 7717))
((For more news, please click here))
((London Equities Newsroom; +44 20 7542 7717)) (For more news, please click here)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 22-09-09 | AFX UK Focus |
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LONDON, Sept 22 (Reuters) - Protonex Technology Corp:
((London Equities Newsroom; +44 20 7542 7717)) (For more news, please click here)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 22-09-09 | RNS |
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RNS Number : 4204Z Protonex Technology Corporation 22 September 2009
FOR IMMEDIATE RELEASE September 22, 2009 PROTONEX awarded $2.0 MILLION CONTRACT TO FURTHER develop Solid oxide fuel cell power systemS DATELINE: SOUTHBOROUGH, MA; Protonex Technology Corporation (LSE: AIM: PTX and PTXU), a leading provider of advanced fuel cell power systems today announced that it has received a $2.0 million contract award from the U.S. Army to build, test and deliver solid oxide fuel cell (SOFC) power systems. This program will focus on advancing the robustness of Protonex' SOFC power systems operating on high-performance liquid fuels. This 12-month contract builds upon a prior program with the U.S. Army and will focus on system integration and testing in order to develop a fully integrated liquid fuel generator system. At the conclusion of the program, Protonex is expected to deliver multiple liquid-fuelled SOFC power systems to the Army for further testing and evaluation. There is growing military and commercial interest in the use of common liquid fuels, including alternative or renewable fuels to reduce dependence on foreign oil. Solid oxide fuel cells, with their low emissions and high efficiency, are well-suited to generate electricity from these high-energy-density fuel sources. Fuel-flexible generators capable of operating on both traditional and alternative liquid fuels can provide highly efficient electricity generation from both today's transportation fuels and the biofuels of tomorrow. Development of these small SOFC systems will provide the military with lightweight, extremely quiet and fuel efficient power systems that can be used as auxiliary power units (APUs), portable generators or field battery chargers. With further anticipated improvements, Protonex' portable SOFC systems could save more than 60% of the weight of existing power solutions and when used to power equipment directly, the fuel cell systems offer potential savings of more than 80% of the weight burden of primary batteries. "We are pleased to have received this significant award from the U.S. Army," stated Dr. Jerry Martin, Vice President of SOFC Development for Protonex. "This additional program further validates the growing interest by the U.S. military to identify new power solutions for soldiers and vehicles. This program will allow us to accelerate the conversion of our SOFC systems to liquid fuels and further advance our leading-edge SOFC platforms for military and commercial markets."
Enquiries
Scott Pearson, Chief Executive Officer Margaret Dorsheimer, Director of Marketing
Samantha Robbins Paul Dulieu
Nominated Adviser Michael Covington Rupert Winckler 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. 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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| 17-09-09 | RNS |
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RNS Number : 1977Z Protonex Technology Corporation 17 September 2009
FOR IMMEDIATE RELEASE September 17, 2009 PROTONEX RECEIVEs $598,813 to Extend Capabilities of Unmanned Aerial Vehicle Propulsion Systems DATELINE: SOUTHBOROUGH, MA; Protonex Technology Corporation (LSE: AIM: PTX and PTXU), a leading provider of advanced fuel cell power systems for portable, remote and mobile applications, today announced that it has received a $598,813 contract with the U.S. Naval Research Laboratory (NRL) for advanced development of high power fuel cell systems for small unmanned air vehicles (UAVs). This new program builds upon Protonex' portfolio of UAV power system initiatives. Development work under this program will focus on increasing the power density of the company's Proton Exchange Membrane (PEM) UAV fuel cell system while simultaneously scaling up the power output of the system. Ultimately, the advanced system will be integrated into a small NRL plane. The resulting hydrogen fuel cell system is anticipated to provide up to 1.5 kW of power output (approximately equivalent to a 2hp engine) and double the existing system's gravimetric power density. The increase in power will provide additional capability to the UAV platform including improving climbing, maneuverability, dash speed, as well as additional payload capability. Protonex' fuel cell power systems for small UAVs offer significant benefits over existing technologies including lower heat and noise signature compared to internal combustion engines while providing up to five times the energy density over today's advanced batteries. These advantages enable a wide range of military applications and provide an opportunity to broaden mission capabilities for small UAVs. "We are very fortunate to have the continued support and interest from the NRL and the Office of Naval Research," commented Dr. Paul Osenar, Chief Technology Officer, Protonex. "The team is excited to have this opportunity to continue to optimize our core technology by increasing the net power of our fuel cell system while significantly improving the overall functionality of small UAVs."
Enquiries
Scott Pearson, Chief Executive Officer Margaret Dorsheimer, Director of Marketing
Samantha Robbins Paul Dulieu
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. 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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| 15-09-09 | RNS |
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RNS Number : 0447Z Protonex Technology Corporation 15 September 2009
FOR IMMEDIATE RELEASE 15 September 2009 PROTONEX TEAMS WITH CUMMINS to JOINTLY PROMOTE FUEL CELL power solutions IN THE RECREATIONAL VEHICLE INDUSTRY DATELINE: SOUTHBOROUGH, MA; Protonex Technology Corporation (LSE: AIM: PTX and PTXU), a leading provider of advanced fuel cell power systems, today announced that it has partnered with Cummins Onan, a business group of Cummins Inc. (NYSE: CMI), a global leader in power generation and distribution, to cooperate in the promotion of advanced fuel cell power solutions into the recreational vehicle (RV) market. Under the terms of the agreement, Protonex and Cummins Onan plan to jointly conduct rigorous field testing of the Protonex M250-B fuel cell power system within RVs and Cummins will provide Protonex with selected marketing assistance at trade shows and other related events. In addition, Cummins is in the process of becoming a certified installer of Protonex fuel cell systems developed for RVs. The resulting testing, certification and promotional efforts are expected to facilitate the delivery of Protonex fuel cell power solutions to the RV market. "Protonex is very pleased to have been selected by Cummins as a partner for providing advanced fuel cell power solutions to the RV market," stated Scott Pearson, CEO of Protonex. "Teaming with the global industry leader in commercial mobile power generation will have a significant impact on our ability to reach the RV market and will enable us to broaden the accessibility of fuel cell power solutions to consumers and the commercial mobile market." Ed Pickens, RV Marketing Manager for Cummins Power Generation added, "We look forward to working with Protonex to explore applications for fuel cell technology in the RV market. As the RV market evolves, we see a role for fuel cells as a solution for mobile power needs." Protonex plans to display its M250-B fuel cell power system in the Cummins Onan Booth (Booth H) at the 41st Annual Pennsylvania RV and Camping Show - one of America's largest RV shows - 16-20 September, 2009. The M250-B power system leverages breakthrough advances in fuel cell and hybrid power technology developed by Protonex. The proprietary technology blends the advantages of a fuel cell power generator with conventional hybrid batteries. The M250-B runs on safe, clean, biodegradable methanol fuel. The system is configured to seamlessly integrate with existing power components typically found in an RV, including deep cycle batteries, generators, inverters, chargers, solar panels and alternators.
Enquiries
Scott Pearson, Chief Executive Officer Margaret Dorsheimer, Director of Marketing
Samantha Robbins Paul Dulieu
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 Cummins Onan www.cumminsonan.com Cummins Onan Generators is a brand of Cummins Power Generation, a subsidiary of Cummins Inc. Cummins Inc. (NYSE: CMI), a global leader that manufactures, distributes and services engines, fuel systems, controls, air handling, filtration, emission solutions and electrical power generation. Headquartered in Columbus, Indiana, (USA) Cummins serves customers in more than 160 countries through its network of 550 company-owned and independent distributor facilities and more than 5,000 dealer locations. The Cummins Onan brand is found on generators and products manufactured for the RV, marine, commercial, residential and portable generator markets. Press releases can be found on the web at www.cumminsonan.com. 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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| 14-09-09 | RNS |
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RNS Number : 9670Y Protonex Technology Corporation 14 September 2009 14 September 2009 Protonex Technology Corporation ('the Company') Grant of Options The Board of the Company announces that on 9 September 2009 it has approved a grant of options over common shares of the Company pursuant to the Company's 2003 Stock Incentive Plan to the following director:
The options are exercisable at $0.54 (approximately 32.5p) and are exercisable for a period of 10 years. The options are not currently vested and will vest linearly and with time over the next three years. Following the above option grants, in aggregate, Paul Osenar now holds options over 703,929 common shares of the Company. For further information: Enquiries
Scott Pearson, Chief Executive Officer John Connolly, Chief Financial Officer
Samantha Robbins Paul Dulieu
Nominated Adviser Michael Covington James Steel (Qualified Executive) This information is provided by RNS The company news service from the London Stock Exchange END
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