Proton Power Secures €12M Loan for Hydrogen Development
Company Announcements

Proton Power Secures €12M Loan for Hydrogen Development

Proton Power Systems (GB:PPS) has released an update.

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.

For further insights into GB:PPS stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks UK Auto-Generated NewsdeskProton Motor Secures New Hydrogen Fuel Cell Order
TipRanks UK Auto-Generated NewsdeskProton Motor Faces Leadership Change Amid Financial Uncertainty
TipRanks UK Auto-Generated NewsdeskProton Motor’s EU Grant Selection Spurs Financial Hopes
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App