Proton Energy Reveals Quarterly Progress

May 7, 2003 [] Proton Energy Systems, Inc. a hydrogen generator and regenerative fuel cell company, have announced their results for the first quarter ended March 31, 2003. Revenues for the first quarter ended March 31, 2003 were US$173,000 compared to revenues of US$938,000 for the same period last year. The decrease in revenues primarily relates to the first phase of a contract that was substantially completed in 2002. Among the companies other pertinent highlights: delivered 32 laboratory hydrogen generators under an agreement with Matheson Tri-Gas, Inc; delivered three HOGEN 40 series hydrogen generators in the quarter; featured at a White House-sponsored event to promote President Bush’s US$1.2 billion Freedom Car and Fuel initiative; installed a HOGEN 380 hydrogen generator for a hydrogen fuel cell bus program in Barth, Germany; reached agreement to end the Development, Marketing and Distribution Agreement for laboratory hydrogen generators with Matheson Tri-Gas Inc; successfully tested HIPRESSTM high-pressure cell stack modules, thereby achieving a key milestone in the Naval Research Laboratory contract funded by the Defense Advance Research Projects Agency; Received a contract to develop a 1 kW regenerative solar/Proton Exchange Membrane fuel cell demonstration system from Jacobs Sverdrup Technology, Inc, a subcontractor to the U.S. Navy for testing at the Naval Air Weapons Station at China Lake, California.
Previous articleWindPower 2003 Speakers Announced
Next articleWastewater Treatment Plant Harnesses Biogas

No posts to display