Proton Power Systems (GB:PPS) has released an update.
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Proton Motor Power Systems has secured a new €12 million loan facility from shareholder Falih Nahab, on terms mirroring an existing €77.5 million loan, to bolster its working capital and support hydrogen product development until at least June 2025. Despite the influx of funds, the company anticipates a need for additional capital beyond that point as it doesn’t expect to generate net free cash flow by then. The transaction is deemed fair by the company directors, excluding CEO Dr. Faiz Nahab due to familial relations with the lender.
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