Proton Power Systems (GB:PPS) has released an update.
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Proton Motor Power Systems, a company specializing in zero-carbon electric hybrid systems, has been notified by its principal lender that financial support through existing debt facilities will continue until the end of 2024. With current debt and accrued interest totaling over €148 million, the company’s directors are seeking alternative financing options to ensure ongoing operations. The company is accelerating discussions with potential new finance sources to maintain its status as a going concern.
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