First published in Cleantech magazine, June/July 2007. ©  Cleantech Investor Ltd.

Proton Power, has developed a standard fuel cell module, fuelled by hydrogen integrated with an energy storage system to create a ‘hybrid electric fuel cell system’. The focus is on industrial applications where ‘back-tobase’ refuelling is a feasible option. Initially, the management is targeting two segments: forklift trucks and buses. They expect hybrid electric fuel cell systems to be economically viable in these markets as a replacement for lead acid batteries. The addressable market for fuel cells in forklift trucks is estimated by the company to be some $300 million annually (or 20% of the total battery powered fork lift truck market). Proton estimate that around 25% of the total bus market (of some 240,000 units per annum) could be addressed by a fuel cell solution costing around EUR25,000. Proton has announced a number of deals which will take its products into the market. The company is developing a street sweeper in Switzerland, in conjunction with Bucher Municipal, a division of Swiss based Bucher Industries AG, a leading global provider of municipal vehicles for road and airport maintenance services. This deal is expected to bring in revenues of EUR396,000 over four years. Proton has started work on a EUR3m contract for a fuel cell hybrid system for city buses in Prague, in the Czech Republic, in conjunction with Skoda. The contract should be worth EUR1.1m over two years for Proton. Proton shares were listed on AIM in October last year. The company raised £4.7m in a share placing by Brewin Dolphin Securities. The issue price was 80p per share.