Proton Energy Systems announces fuel cell development program with Marconi

ROCKY HILL, Conn., June 11, 2001 — Proton Energy Systems, Inc., a provider of practical applications of Proton Exchange Membrane (PEM) electrochemical technology and products, announced that it has entered into a Joint Development Program with Marconi, a provider of advanced communications solutions.

Under a Memorandum of Understanding, Proton and Marconi are jointly developing concepts, designs and products incorporating Proton’s UNIGEN(r) regenerative fuel cell technology for potential application to Marconi’s product lines. Proton’s 70 kWh UNIGEN system is the first such effort to evolve from the relationship between Marconi and Proton.

William Smith, Proton Energy’s Vice President of Business Development commented “Marconi’s leadership in power systems for the telecommunications industry puts them in a great position to help Proton understand these very demanding customer requirements. Marconi will provide important access to these telecommunication markets.”

Walter (Chip) Schroeder, President and Chief Executive Officer of Proton Energy Systems added, “Marconi has been early to recognize the inherent advantage of our technology for power quality applications. Our systems have the functionality of traditional batteries and generating sets but offer additional features of low noise, no combustion, non-toxicity and lower life cycle cost.”

Marconi is one of a number of companies that Proton is working with to develop channels to market its advanced products. Other Proton products are being developed for Matheson Tri Gas, a subsidiary of Nippon Sanso, Asia’s largest industrial gas company. Global companies ABB and Sumitomo have invested in Proton to gain access to the company’s unique focus on commercializing products based on advanced PEM fuel cell technology.

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 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.

Marconi plc is a global communications and IT company with around 55,000 employees worldwide. Marconi has research and development facilities in 19 countries, manufacturing operations in 16 countries, and serves customers in over 100 countries. It supplies advanced communications solutions and the key technologies and services for the Internet. Marconi plc is listed on the London Stock Exchange and Nasdaq under the symbol MONI. Additional information about Marconi can be found at www.marconi.com .