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Proton, SupplyCore launch new JV

Riyadh, October 6, 2010

Proton Energy Systems, a leader in control systems, and SupplyCore, a Saudi-based infrastructure services provider, have launched a joint venture to provide on-site hydrogen generation and control solutions to Arab nations.

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.'

The joint venture will provide Arab organisations 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,” he added. – TradeArabia News Service




Tags: Joint venture | Riyadh | Proton | SupplyCore | On-site hydrogen | control solutions |

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