Thursday, February 4, 2010

Protonex fuel cell deal nets $1.5M

By Brendan Lynch

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Protonex Technology Corp. reports it has landed $1.5 million from the U.S. Army for supplying portable battery charger fuel cells.

Under the deal, Protonex will deliver 30 more M250-CX chargers. The M250-CX is a ruggedized, lightweight, 250-watt portable power system.

The deal is an option the Army exercised on a contract announced last month. The option brings the total value of the contract to $3.3 million. If the Army exercises all options on the contract, it will have a value of $6.4 million. Funding for the contract comes from the American Recovery and Reinvestment Act of 2009.

In December, the company won a contract worth a potential $1 million to develop fuel cells for the Army from the University of South Carolina Research Foundation and WinTec Arrowmaker Inc., a Fort Washington, Md.-based defense engineering firm.