Established in 2007, SPower serves IT, telecoms, public infrastructure and healthcare customers in Germany, Europe and Middle East with power supply solutions for DC and AC power demand. Beside the business for power supply, SPower also offers solutions for solar systems as well as a new product line for solar energy storage, which will be released to the market in the second quarter of 2013. SPower is also planning to launch a new high power uninterruptible power supply product line in 2013.

SPower will be completely integrated into the Proton Motor division. Products from Proton Motor being offered to the existing SPower customers.

The Board of Proton Power believes that the acquisition will strengthen and enlarge Proton Motor’s business division and provide it with the opportunity, in the future, to add a fuel cell based option to the SPower product line. Sales and service of solutions will be delivered by a single enlarged sales team and this will allow the Company to target the Middle Eastern and South American markets.

SPower expects to report a turnover of circa €3 million (US$4 million) for the year to 31 December 2012 and to be breaking even at the operating profit level. Also through the integration with Proton Motor which is expected to result in cost synergies of approximately €200,000 (US$270,ooo) per annum, management expects that SPower will increase turnover to around €5 million (US$6.7 million) and become profitable in the year to December 2013.