The two companies extend partnership to create new company based in Riyadh; joint company venture to include manufacturing and covers the entire Arab world
RIYADH (Oct. 4, 2010) ¨C Proton Energy Systems, the global leader in on-©\site hydrogen generation and control systems, announced today at POWER-©\GEN Middle East a joint venture with SupplyCore Middle East to provide on-©\site hydrogen generation and control solutions to Saudi Arabia, the largest economic market in the Arab world, as well as the rest of the other Arab nations in the region. The agreement extends the initial partnership established by the two companies in 2009 to create a new company and now covers sales, installation and service of their hydrogen generation and control equipment for all Arab nations, which also includes some manufacturing in Saudi Arabia. The new entity will be called Proton Energy Arabia.
¡°We are excited to enhance our relationship with SupplyCore Middle East and provide our hydrogen generation solutions to businesses, manufacturers and government entities in the Middle East region and beyond,¡± said Rob Friedland, president and chief executive officer for Proton Energy Systems. ¡°The agreement demonstrates Proton Energy Systems¡¯ commitment to the region, further solidifies our position as a global leader in on-©\site hydrogen generation and control systems, and better positions us to support growth in this rapidly expanding market.¡±
Proton Energy is the global leader in on-©\site hydrogen generation. Proton Energy Systems designs and manufactures proton exchange membrane (PEM) electrochemical systems that do not utilize any hazardous chemicals to make hydrogen from water producing safe, pure, reliable on-©\site hydrogen to meet global hydrogen requirements. With more than 2,000 systems installed in 60 countries on all seven continents, Proton Energy Systems is creating value around the world.
Supporting The Power Generation Process
Recognizing the importance of supporting power generation processes, Proton Energy Systems entered into the joint venture with SupplyCore Middle East to provide Arab World organizations in the power, oil and gas sector the ability to meet on-©\site hydrogen requirements ranging from grid-©\level support for energy storage, to turbine generator cooling in power plants. This announcement comes shortly after the commissioning of a hydrogen generation unit at the King Abdullah University of Science and Technology (KAUST). Additionally, Proton Energy Systems and SupplyCore Middle East recently sold on-©\site hydrogen generation technology to the Saudi Electric Company and plan to commission this unit in October.
¡°The need for power generation in Saudi Arabia has grown the past few years and will continue to expand as supply tries to keep pace with demand in the coming years,¡± said Sattam Al-©\ Suwailem, president and chief executive officer of SupplyCore Middle East. ¡°We are very pleased to expand our partnership with Proton Energy Systems, a proven international energy leader, as it enables us to improve upon current power generation solutions in the region.¡±
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About SupplyCore Middle East
SupplyCore Middle East (SCME) is a Saudi-©\based service and solution provider of advanced technology to support critical infrastructure needs. Working closely in the Middle East with many international industry-©\leading manufacturers, SCME provides innovative solutions for power generation, oil/gas, water treatment, waste water treatment and re-©\use, and beverage bottling. SCME is recognized for its extensive experience in sales, service and support for power generation equipment, and the company has provided much needed services to governmental and commercial customers throughout the Middle East. Headquartered in Riyadh, Saudi Arabia, SupplyCore Middle East has offices and warehouses in Riyadh and Dammam, Kingdom of Saudi Arabia, Kuwait City, Kuwait, Dubai, U.A.E., along with support in the United States for its US-©\ based manufacturers. SCME provides sales, support and services to the entire Arab World. For more information, please visitnwww.supplycoreme.com.
About Proton Energy Systems
Proton Energy Systems designs and manufactures proton exchange membrane (PEM) electrochemical systems to make hydrogen from water in a zero pollution process producing safe, pure, reliable onsite hydrogen to meet today¡¯s global hydrogen requirements. Proton Energy Systems has been developing and manufacturing world-©\class electrolysis systems since 1996, with thousands of units deployed world-©\wide, on every continent. With a reputation for building robust, reliable, and safe systems, federal, state, and commercial partners repeatedly seek the creative solutions that Proton Energy Systems has proven it is capable of delivering. For more information, visit www.ProtonEnergy.com