|
Ballard and IdaTech Sign Supply Agreement for
Extended Runtime Solution in Backup Power Market
VANCOUVER, BRITISH COLUMBIA – Ballard Power Systems (TSX: BLD; NASDAQ: BLDP) and
IdaTech LLC today announced they have signed a three-year supply agreement under which
Ballard will provide a fuel cell product for integration into IdaTech’s next generation of ElectraGen™
system. This will create 3kW and 5kW methanol-fuelled backup power solutions offering days
(rather than hours) of extended runtime capability, suitable for a broad range of sites within the
wireless telecom industry.
“This supply agreement for ElectraGen™ enhances our position as fuel cell supplier of choice in the
industry,” said John Sheridan, Ballard’s President and CEO. “And, integration of our fuel cells into
higher power backup power products will help accelerate adoption of fuel cells by wireless telecom
service providers.”
The ElectraGen™ product has been in trials with several wireless telecom companies having a need
to deploy backup power solutions in remote locations with extended runtime capability. Following
validation of product performance, Ballard’s fuel cell product will be integrated into the next
generation 3kW and 5kW ElectraGen™ units, with commercial release scheduled for 2009. Ballard
and IdaTech believe there is potential for up to 5,000 product shipments over the full term of the
agreement.
A key to providing long runtime capability is the use of an alternative fuelling approach in which
IdaTech’s reforming technology generates on-demand high purity hydrogen from liquid methanol.
Backup power solutions utilizing this fuel cell technology deliver a number of significant advantages
over conventional batteries and diesel generators, including: higher reliability over a wide range of
operating conditions; lower maintenance costs; longer operating life; reduced size, weight,
installation footprint and environmental impact.
Hal Koyama, IdaTech’s Chief Executive Officer stated, “We are witnessing substantial interest in a
fuel cell solution addressing extended runtime backup power requirements within the wireless
telecom industry. The decision to use Ballard’s fuel cells in higher power backup products
demonstrates our confidence in the associated technical performance, reliability and cost
advantages. This contract also builds on our prior commitment to use Ballard’s fuel cells in our 250
watt iGen™ power supply product for backup and auxiliary power solutions.”
About Ballard Power Systems
Ballard Power Systems (TSX: BLD)(NASDAQ: BLDP) is recognized as a world leader in the design,
development, manufacture and sale of clean energy fuel cell products. Ballard's mission is to
accelerate fuel cell product adoption. To learn more about what Ballard is doing with Power to
Change the World(R), visit www.ballard.com .
For more information, or to arrange an interview with a Ballard spokesperson, please call:
Guy McAree
604-412-7919
guy.mcaree@ballard.com
This release contains forward-looking statements that are based on the beliefs and assumptions of
Ballard’s management and reflect Ballard’s current expectations as contemplated under section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Such assumptions relate to our financial forecasts and expectations
regarding our product development efforts, manufacturing capacity, and market demand. These
statements involve risks and uncertainties that may cause our actual results to be materially
different, including, without limitation, the rate of mass adoption of our products, product
development delays, changing environmental regulations, our ability to attract and retain business
partners and customers, our access to funding, increased competition, our ability to protect our
intellectual property, changes in our customers’ requirements, and our ability to provide the capital
required for product development, operations and marketing. Readers should not place undue
reliance on Ballard’s forward-looking statements and Ballard assumes no obligation to update or
release any revisions to these forward looking statements. For a detailed discussion of the risk
factors that could affect Ballard’s future performance, please refer to our most recent Annual
Information Form.
InvestorIdeas.com Disclaimer: Issuers of press releases are solely responsible for the accuracy of the content.
Would you like to see your news and articles here? GO>>
|
