Ballard And IdaTech Extend Fuel Cell Stack Supply Agreement For Backup Power Thru 2013
VANCOUVER, April 3, 2012 /PRNewswire/ – Ballard Power Systems (TSX: BLD) (NASDAQ: BLDP) today announced a one-year extension of its
Equipment Supply Agreement with IdaTech (www.idatech.com), through 2013. IdaTech is a system integrator focused on extended run
backup power solutions for the telecommunications industry.
Ballard will support IdaTech’s projected need for 2,500 fuel cell stacks
through the end of 2013 with FCgen(®)-1020ACS fuel cell stacks, each having a power level of up to
3-kilowatts. Ballard fuel cell stacks are integrated by IdaTech into
its line of ElectraGen(TM) ME systems, which operate using reformed methanol fuel, and its
ElectraGen(TM) H2-I systems, which operate using direct hydrogen fuel.
IdaTech’s systems are installed as an alternative to traditional power
generators – such as lead-acid batteries and diesel generators – at
telecom network sites, including wireless network base stations. In the
event of a grid power failure, the reliability and rapid start-up of
fuel cell-powered ElectraGen(TM) systems ensures seamless, uninterrupted service to telecom
Larry Stapleton, Ballard’s Vice President of Sales said, “This agreement
is a positive reflection of demand for fuel cell backup power
solutions. And, the deal helps build our competitive position in
comparison to lead acid batteries and diesel gensets. We look forward
to the ongoing success of our relationship with IdaTech in growing the
adoption of our products for use in backup power applications.”
More than 350 IdaTech ElectraGen(TM) systems, using Ballard fuel cell stacks, have been sold to leading
telecom network and service providers in Asia, Africa, North America
and Central America.
About Ballard Power Systems
Ballard Power Systems (TSX: BLD) (NASDAQ: BLDP) provides clean energy
fuel cell products enabling optimized power systems for a range of
applications. Products contain proprietary esencia(TM) technology, ensuring incomparable performance, durability and
versatility. To learn more about Ballard, please visit www.ballard.com.
This release contains forward-looking statements, included projected
product cost savings, product volume forecasts and market demand for
our products. These forward-looking statements reflect Ballard’s
current expectations as contemplated under section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Any such forward-looking statements
are based on Ballard’s assumptions relating to its financial forecasts
and expectations regarding its product development efforts,
manufacturing capacity, and market demand.
These statements involve risks and uncertainties that may cause
Ballard’s actual results to be materially different, including general
economic and regulatory changes, detrimental reliance on third parties,
successfully achieving our business plans and achieving and sustaining
profitability. For a detailed discussion of these and other risk
factors that could affect Ballard’s future performance, please refer to
Ballard’s most recent Annual Information Form. 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, other than as required under applicable
SOURCE Ballard Power Systems Inc.