16.07.10

Ballard Power Systems Inc: Supply agreement extend

Die untenstehende Meldung ist eine Original-Meldung des Unternehmens. Sie ist nicht von der ECOreporter.de-Redaktion bearbeitet. Die presserechtliche Verantwortlichkeit liegt bei dem meldenden Unternehmen.


Plug Power Inc., a leader in providing clean, reliable energy solutions, and Ballard Power Systems Inc.announced that the two companies
have extended their existing supply agreement, effective immediately, through
2014. Ballard will remain the exclusive supplier of fuel cell stacks for Plug
Power's full suite of GenDrive(TM) power units. In addition, Plug Power will
become the exclusive systems integrator for Ballard's fuel cell stack into
solutions addressing the material handling market in North America. The
previous agreement was due to expire December 31, 2010.



With over 85% market share in the material handling space, this agreement
will allow Plug Power and Ballard continued leadership as the pre-eminent
providers of fuel cell energy products in this industry. This agreement will
also help solidify the two company's joint corporate commitment to
revolutionize the material handling market with highly productive, clean
energy technology.

Ballard has been the exclusive fuel cell stack supplier for Plug Power's
GenDrive product line since 2008. GenDrive is a superior power alternative to
lead-acid batteries in electric material handling vehicles. Using GenDrive,
customers in grocery, retail, warehousing and manufacturing facilities can
increase productivity, lower operational costs and decrease greenhouse gas
emissions within their operations.

Understanding the value provided by GenDrive, leading material handling
organizations have implemented this sustainable power solution in their
operations. These customers include Walmart Canada, United Natural Foods,
Inc., Sysco Houston, FedEx Freight, Wegmans, and Whole Foods.
       
"Ballard and Plug Power's technology has been integrated, tested and
improved over the lifetime of the GenDrive product to become the world's most
reliable fuel cell power solution for the material handling industry," said
Andy Marsh, CEO at Plug Power. "This mutual exclusivity positions Ballard and
Plug Power as the industry leaders committed to driving commercial activity
and growth."
       
John Sheridan, Ballard's President and CEO, added "We are pleased to
extend this supply agreement with Plug Power for Ballard's FCvelocity(R) fuel
cell stacks. Our partnership will enable penetration and growth of fuel cell
solutions in the North American material handling market, by delivering
meaningful productivity gains and a strong value proposition to customers."

       
About Plug Power Inc.

The architects of modern fuel cell technology, Plug Power revolutionized
the industry with cost-effective power solutions that increase productivity,
lower operating costs and reduce carbon footprints. Long-standing
relationships with industry leaders forged the path for our key accounts,
including Walmart, Sysco, Wegmans, Whole Foods, and FedEx Freight. With more
than 1,000 units in the field and over 1.5 million hours of runtime, Plug
Power manufactures tomorrow's incumbent power solutions today. Visit us at
www.plugpower.com.


About Ballard Power Systems Inc.

Ballard Power Systems (TSX: BLD; NASDAQ: BLDP) provides clean energy fuel
cell products enabling optimized power systems for a range of applications. To
learn more about Ballard, please visit www.ballard.com.

For further information: Plug Power Media Contact: Reid Hislop, Phone:
(518) 782-7700 ext. 1360; Plug Power Investor Relations Contact: Cathy
Yudzevich, Phone: (518) 782-7700 ext. 1448; Ballard Media Contact: Guy McAree,
Phone: +1.604.412.7919, media@ballard.com; Ballard Investor Relations Contact:
Lori Rozali, Phone: +1.604.412.3195, investors@ballard.com/
Ballard Power Systems Inc. Safe Harbor Statement



Safe Harbor Statements

This communication contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. We believe that it is
important to communicate our future expectations to our investors. However,
there may be events in the future that we are not able to accurately predict
or control and that may cause our actual results to differ materially from the
expectations we describe in our forward-looking statements, including, without
limitation, statements regarding the risk that unit orders will not ship, be
installed and/or convert to revenue, in whole or in part; the cost and timing
of developing our products and our ability to raise the necessary capital to
fund such development costs; we may be unable to achieve the forecasted gross
margin on the sale of our products; our actual net cash used for operating
expenses may exceed the projected net cash for operating expenses; the cost
and availability of fuel and fueling infrastructures for our products; market
acceptance of our GenDrive and GenSys systems; our ability to establish and
maintain relationships with third parties with respect to product development,
manufacturing, distribution and servicing and the supply of key product
components; the cost and availability of components and parts for our
products; our ability to develop commercially viable products; our ability to
reduce product and manufacturing costs; our ability to successfully expand our
product lines; our ability to improve system reliability for both GenDrive and
GenSys; competitive factors, such as price competition and competition from
other traditional and alternative energy companies; our ability to manufacture
products on a large-scale commercial basis; our ability to protect our
intellectual property; the cost of complying with current and future
governmental regulations; the impact of deregulation and restructuring of the
electric utility industry on demand for Plug Power's energy products; and
other risks and uncertainties discussed under "Item IA-Risk Factors" in our
annual report on Form 10-K for the fiscal year ended December 31, 2009, filed
with the Securities and Exchange Commission ("SEC") on March 16, 2010, and the
reports we file from time to time with the SEC. We do not intend to and
undertake no duty to update the information contained in this communication.



This release contains forward-looking statements, which are provided to
enable external stakeholders to understand Ballard's expectations as at the
date of this release and may not be appropriate for other purposes. These
forward-looking statements 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 Exchange Act of 1934, as amended. Such
assumptions relate to Ballard's financial forecasts and expectations regarding
its product development efforts, manufacturing capacity, and market demand,
and include matters such as generating new sales, producing, delivering and
selling the expected number of units, and controlling its costs. These
statements involve risks and uncertainties that may cause Ballard's actual
results to be materially different, including, without limitation, the
condition of the global economy, the rate of mass adoption of its products,
product development delays, changing environmental regulations, its ability to
attract and retain business partners and customers, its access to funding,
increased competition, its ability to protect its intellectual property,
changes in its customers' requirements, foreign exchange impacts on its net
monetary assets and its ability to provide the capital required for product
development, operations and marketing. For a detailed discussion of these risk
factors 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 legislation.
Nach oben scrollen
ECOreporter Journalistenpreise
Anmelden
x