Proton Energy Systems to Build New Manufacturing, Product Development, And Research Facility

Apr 30, 2001, 01:00 ET from Proton Energy Systems, Inc.

    ROCKY HILL, Conn., April 30 /PRNewswire/ -- Proton Energy Systems, Inc.
 (Nasdaq: PRTN), a leader in practical applications of Proton Exchange Membrane
 (PEM) electrochemical technology and products announced plans to build a new
 100,000 square foot manufacturing, product development, and research facility
 on 44 acres of land in the Medway Industrial Park in Wallingford, Connecticut.
 The building will be designed and built by The Casle Corporation.
     The facility will allow the Company to consolidate all operations under
 one roof and provide the manufacturing and development space needed for Proton
 Energy's growth over the next several years.  Proton Energy plans to
 manufacture its HOGEN(R) hydrogen generators and its UNIGEN(R) regenerative
 fuel systems at this facility.  Proton's employees will move from its two
 locations in Rocky Hill, CT to the new headquarters when completed.  The new
 space will accommodate up to 500 employees.  The facility will include office
 space for the Company's corporate staff, manufacturing space to produce early
 production volumes of products and research and development space to advance
 Proton's technology in concert with its business goals.  The building will be
 designed to allow for an additional 50,000 square feet of expansion.
     The new headquarters location will be on Technology Drive in Wallingford,
 which is located near routes 91 and 95.  Proton believes this location will
 help attract potential employees from nearby Hartford and New Haven counties.
 Groundbreaking is scheduled for summer 2001 and the Company expects the
 facility to be completed by mid-2002.
     "Alternative energy is one of the fastest growing industries in the United
 States and we are extremely pleased that Proton Energy has chosen to expand
 operations in Connecticut.  Companies like Proton Energy offer quality jobs to
 the residents of our state and we wish the Company continued success," said
 Governor John Rowland.
     Walter (Chip) Schroeder, President and Chief Executive Officer of Proton
 Energy Systems added: "Connecticut is proving to be a good place to grow a
 company like ours because fuel cell technology largely originated here.
 The state offers a deep base of skilled workers from a variety of fields.
 Hiring skilled people will be essential for Proton's continued growth and
 success.  We have also had good results recruiting selected engineers and
 other professionals from outside the state.  Part of that success is due to
 the fact that Proton offers an exciting and rewarding environment where each
 of us really can make a difference.  But the excellent quality of life in
 Connecticut is an important part of the package."
     Donald Roe, Wallingford Economic Development Commission Coordinator added
 "Proton is the type of company we strive to attract to our community.  We are
 delighted that they have chosen to expand in Wallingford, and will work with
 them to facilitate a smooth and orderly move to the area."
     Proton Energy Systems, Inc. ( www.protonenergy.com ) designs, develops and
 manufactures proton exchange membrane, or PEM, electrochemical products that
 it employs in hydrogen generating devices and in regenerative fuel cell
 systems that function as power generating and energy storage devices.
 Proton's HOGEN(R) hydrogen generators produce hydrogen from electricity and
 water in a clean and efficient process using its proprietary PEM technology.
 Proton is currently manufacturing and delivering late stage development models
 of its hydrogen generators to customers for use in commercial applications.
 Proton's UNIGEN(R) regenerative fuel cell systems, which it is currently
 developing, will combine Proton's hydrogen generation technology with a fuel
 cell power generator to create an energy device that is able to produce and
 store the hydrogen fuel it can later use to generate electricity.
     This press release contains forward-looking statements for purposes of the
 safe harbor provisions under The Private Securities Litigation Reform Act of
 1995. Statements contained herein that are not statements of historical fact
 may be deemed to be forward-looking information.  Without limiting the
 foregoing, words such as "anticipates," "believes," "could," "estimate,"
 "expect," "intend," "may," "might," "should," "will," and "would" and other
 forms of these words or similar words are intended to identify forward-looking
 information.  Proton's actual results may differ materially from those
 indicated by these forward-looking statements as a result of various important
 factors. Proton disclaims any obligation to update these forward-looking
 statements.  Factors that could cause results to differ materially from those
 contained in Proton's forward-looking statements include, but are not limited
 to, our failure to complete development of our products, failure of our
 products to achieve commercial acceptance, our inability to expand our
 production facilities, manufacture our products at commercially acceptable
 costs or establish distribution relationships, the impact of competitive
 products and other factors detailed in our Form 10-K for the year ended
 December 31, 2000 and other filings made from time to time with the SEC.
      HOGEN(R) and UNIGEN(R) are Registered Trademarks of Proton Energy
 Systems, Inc.
 
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SOURCE Proton Energy Systems, Inc.
    ROCKY HILL, Conn., April 30 /PRNewswire/ -- Proton Energy Systems, Inc.
 (Nasdaq: PRTN), a leader in practical applications of Proton Exchange Membrane
 (PEM) electrochemical technology and products announced plans to build a new
 100,000 square foot manufacturing, product development, and research facility
 on 44 acres of land in the Medway Industrial Park in Wallingford, Connecticut.
 The building will be designed and built by The Casle Corporation.
     The facility will allow the Company to consolidate all operations under
 one roof and provide the manufacturing and development space needed for Proton
 Energy's growth over the next several years.  Proton Energy plans to
 manufacture its HOGEN(R) hydrogen generators and its UNIGEN(R) regenerative
 fuel systems at this facility.  Proton's employees will move from its two
 locations in Rocky Hill, CT to the new headquarters when completed.  The new
 space will accommodate up to 500 employees.  The facility will include office
 space for the Company's corporate staff, manufacturing space to produce early
 production volumes of products and research and development space to advance
 Proton's technology in concert with its business goals.  The building will be
 designed to allow for an additional 50,000 square feet of expansion.
     The new headquarters location will be on Technology Drive in Wallingford,
 which is located near routes 91 and 95.  Proton believes this location will
 help attract potential employees from nearby Hartford and New Haven counties.
 Groundbreaking is scheduled for summer 2001 and the Company expects the
 facility to be completed by mid-2002.
     "Alternative energy is one of the fastest growing industries in the United
 States and we are extremely pleased that Proton Energy has chosen to expand
 operations in Connecticut.  Companies like Proton Energy offer quality jobs to
 the residents of our state and we wish the Company continued success," said
 Governor John Rowland.
     Walter (Chip) Schroeder, President and Chief Executive Officer of Proton
 Energy Systems added: "Connecticut is proving to be a good place to grow a
 company like ours because fuel cell technology largely originated here.
 The state offers a deep base of skilled workers from a variety of fields.
 Hiring skilled people will be essential for Proton's continued growth and
 success.  We have also had good results recruiting selected engineers and
 other professionals from outside the state.  Part of that success is due to
 the fact that Proton offers an exciting and rewarding environment where each
 of us really can make a difference.  But the excellent quality of life in
 Connecticut is an important part of the package."
     Donald Roe, Wallingford Economic Development Commission Coordinator added
 "Proton is the type of company we strive to attract to our community.  We are
 delighted that they have chosen to expand in Wallingford, and will work with
 them to facilitate a smooth and orderly move to the area."
     Proton Energy Systems, Inc. ( www.protonenergy.com ) designs, develops and
 manufactures proton exchange membrane, or PEM, electrochemical products that
 it employs in hydrogen generating devices and in regenerative fuel cell
 systems that function as power generating and energy storage devices.
 Proton's HOGEN(R) hydrogen generators produce hydrogen from electricity and
 water in a clean and efficient process using its proprietary PEM technology.
 Proton is currently manufacturing and delivering late stage development models
 of its hydrogen generators to customers for use in commercial applications.
 Proton's UNIGEN(R) regenerative fuel cell systems, which it is currently
 developing, will combine Proton's hydrogen generation technology with a fuel
 cell power generator to create an energy device that is able to produce and
 store the hydrogen fuel it can later use to generate electricity.
     This press release contains forward-looking statements for purposes of the
 safe harbor provisions under The Private Securities Litigation Reform Act of
 1995. Statements contained herein that are not statements of historical fact
 may be deemed to be forward-looking information.  Without limiting the
 foregoing, words such as "anticipates," "believes," "could," "estimate,"
 "expect," "intend," "may," "might," "should," "will," and "would" and other
 forms of these words or similar words are intended to identify forward-looking
 information.  Proton's actual results may differ materially from those
 indicated by these forward-looking statements as a result of various important
 factors. Proton disclaims any obligation to update these forward-looking
 statements.  Factors that could cause results to differ materially from those
 contained in Proton's forward-looking statements include, but are not limited
 to, our failure to complete development of our products, failure of our
 products to achieve commercial acceptance, our inability to expand our
 production facilities, manufacture our products at commercially acceptable
 costs or establish distribution relationships, the impact of competitive
 products and other factors detailed in our Form 10-K for the year ended
 December 31, 2000 and other filings made from time to time with the SEC.
      HOGEN(R) and UNIGEN(R) are Registered Trademarks of Proton Energy
 Systems, Inc.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X36116696
 
 SOURCE  Proton Energy Systems, Inc.