Proton Motor Power Systems PLC (AIM:PPS) saw its shares jump 7.1% to 11.25p in early deals on Friday after the company revealed a contract from Shell PLC (LSE:SHEL, NYSE:SHEL) for a hydrogen-based power plant.
The order, placed by Shell Deutschland Oil GmbH, is for two HyShelter 240 containerised hydrogen fuel cell hybrid systems, which are typically used for off-grid installations “to ensure a safe and clean energy supply where there is no or insufficient infrastructure”, the company said.
Proton delivered the first HyShelter power plant to Shell in 2021. The new system will be supplied in 2024, when most of the revenue will also be recognised.