Highlights

Three new orders secured from:

-Bucher/EMPA (street cleaning vehicles, Switzerland)

-Skoda Electric (city bus project, Prague)

-Alster-Touristik (passenger ferry, Hamburg)

Appointment of Achim Loecher as Chief Financial Officer of Proton Power’s subsidiary Proton Motor Fuel Cell GmbH (“PMFC”)

PMFC’s new facility at Puchheim, Munich was officially opened on 13 September 2007

Turnover was £295,000 compared with 2006: £718,000

Loss of £951,000 compared with 2006: (£477,000).

Commenting on the results, Felix Heidelberg, CEO of Proton Power, said:  “The launch of our new facility in Puchheim has enabled us to move fully into the commercialisation stage and we are pleased to have secured three new orders in key areas for Proton Power: ferries, buses and utilities.  With government initiatives continuously driving the market and supporting and endorsing Proton Power’s strategy, we look forward to the future and further orders with confidence.”