FuelCellsWorks

LONDON (Reuters) – British alternative energy company Ceres Power moved a step closer to bringing its “green” fuel-cell boiler to the mass market on Wednesday by signing an outsourcing deal with a Dutch company.

Heating appliances maker Daalderop will make the boiler assembly, the white box that houses Ceres’s fuel cells parts, in volume, thus saving Ceres having to set up its own facility to do so.

Ceres’s combined heat and power product, which it is developing in conjunction with British Gas, enables people to use the gas and fuel already coming in to their homes to generate their own electricity, rather than buying it from the grid.

The company plans to bring the wall-mounted product to the mass market in the second half of 2011, Chief Executive Peter Bance told Reuters.

“We’re giving ourselves a couple of years of getting it right,” Bance said via telephone.

He said British Gas has already committed to forward orders for 37,500 units over four years from 2011, while its second customer Calor Gas had signed up for 20,000 units over five years.

“Within the four years of that initial phase with British Gas, we expect to reach profitability,” said Bance, adding that some British Gas customers had already expressed an interest in signing up to the product when it launches.

He expects the UK’s planned feed-in tariff to boost interest in the product further, as it means customers would receive incentives for electricity they generate within their homes.

Ceres shares, which have soared 165 percent so far this year, dropped by 5.4 percent, however, after the company announced full-year results showing a widening loss.

Analyst Philip Sparks at Evolution said the results were of secondary interest as the company is at the pre-revenue stage.

“There has been plenty of good news on development, manufacturing and government support over the last six months, and Ceres has added to that today,” he wrote in a note. “We now have a clear road map to volume and manufacturing and distribution.”

Ceres posted a full-year operating loss of 9.3 million pounds ($15.3 million), compared with a loss of 6.4 million one year previously, reflecting the costs of scaling up its operations.

It ended the year to June 30 with 23 million pounds in net cash and financial assets.

(Reporting by Victoria Bryan; Editing by Rupert Winchester)

($1=.6082 Pound)

LATHAM, N.Y. — Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, today announced that its GenDrive(tm) fuel cell solution has exceeded a combined total run time of one million operating hours at material handling customer sites across North America. Plug Power placed the first commercially available unit into the field in 2007 and currently is tracking 379 GenDrive units of its installed base.

The GenDrive fleets consist of a mix of 98 class-1 sit down counterbalance trucks, 2 class-2 standup reach trucks, and 279 class-3 units in pallet jacks and specialty vehicles at more than 20 customer sites. Accumulated runtimes include: class-1 units – 103,532 hours; class-2 units – 3,996 hours; and class-3 units – 903,276 hours.

GenDrive fuel cells are a superior alternative to lead acid batteries in electric lift trucks and allow for maximum performance from the truck for an entire shift. Customers experience increased productivity and reduced operating costs as operators move more product in less time during each shift. Powered by hydrogen, GenDrive eliminates the need to change, store, charge and maintain toxic lead acid batteries. For newly constructed facilities, customers can completely avoid the upfront investment necessary for the costly battery-charging electrical infrastructure. Operators can refuel the units at compact, strategically placed hydrogen stations throughout the distribution center in as little as 60 seconds, and it is safe and easy.

Plug Power’s GenDrive units are used in daily operation by major commercial customers such as Wal-Mart, Nestle Waters, Central Grocers, Sysco and Bridgestone Firestone, who alone has accumulated over 440,000 hours of runtime on its GenDrive fleet, and over 20,000 hours of runtime on its first installed GenDrive unit. Parallel to unit operating hours, lift truck drivers have performed over 70,000 refuelings, dispensing 55,000 kilograms of hydrogen.

As Plug Power expands its product offering and extends its reach into the material handling market, hours continue to accumulate at an accelerated rate. “We’re seeing operating metrics hitting 25,000 to 30,000 hours per week,” said Tom Hoying, Vice President of Sales for Plug Power Inc. “This accomplishment marks yet another significant milestone for Plug Power. The commercial launch of our class-2 product in the fourth quarter will allow customers to fully transition their facilities, and realize the economic, operational and environmental benefits of Plug Power’s GenDrive solution.”

About Plug Power Inc.

Plug Power Inc. (Nasdaq:PLUG), an established leader in the development and deployment of clean, reliable energy solutions, integrates fuel cell technology into motive and continuous power products. The Company is actively engaged with private and public customers in targeted markets throughout the world. For more information about how to join Plug Power’s energy revolution as an investor, customer, supplier or strategic partner, please visit www.plugpower.com.

MISSISSAUGA, ONTARIO– Hydrogenics Corporation (TSX:HYG)(NASDAQ:HYGS), a leading developer and manufacturer of hydrogen generation and fuel cell products, today announced that it has received an order from Bhushan Power & Steel Limited for a 2 megawatt installation of HySTAT electrolyzers. This order represents the second time this year that Hydrogenics has won an award of this magnitude – illustrating the modular nature of its market-leading hydrogen production technology. Bhushan, one of India’s largest steel manufacturers, is anticipated to take delivery of the Hydrogenics units during the first quarter of 2010.

“Being able to provide Bhushan Power & Steel with high quality electrolyzers for steel production demonstrates our expanding presence in the region and dedication to a variety of manufacturing applications,” said Daryl Wilson, President and CEO. “Industrial growth in India has been nothing short of extraordinary in recent years, and we are taking the necessary steps to increase our position in this important market.”

About Hydrogenics

Hydrogenics Corporation (www.hydrogenics.com) is a globally recognized developer and provider of hydrogen generation and fuel cell products and services, serving the growing industrial and clean energy markets of today and tomorrow. Based in Mississauga, Ontario, Canada, Hydrogenics has operations in North America and Europe.

VANCOUVER–Ballard Power Systems (TSX: BLD; NASDAQ: BLDP) today announced that its partner IdaTech, LLC (”IdaTech”) has provided a status update to the supply agreement between IdaTech, ACME Group (”Acme”) and Ballard Power Systems (”Ballard”).

Ballard entered into the development and supply agreement with IdaTech and ACME in October 2008 for hydrogen and natural gas-based backup power systems. As previously disclosed, committed purchase volumes in the agreement are subject to meeting product acceptance testing (PAT) timelines. Ballard’s primary role in the agreement is to develop a low-cost, liquid-cooled fuel cell stack and to manufacture fuel cell stacks for IdaTech to integrate into systems to be deployed by ACME. IdaTech’s primary role in the contract is the development of the system, including the fuel processor and balance of plant.

While the PAT was successfully met for the hydrogen system in July 2009, IdaTech has now indicated that the PAT for the natural gas system, scheduled for October 16, 2009, will likely be missed. The agreement provides for an extension of the PAT deadline for up to six months if IdaTech files an acceptable remediation plan by November 16, 2009, with committed volumes to be reduced commensurate with the length of the delay.

John Sheridan, Ballard’s President and Chief Executive Officer said, “We are certainly disappointed with this development and the implications on our 2010 product volumes. However, we are pleased with our progress on the development of the new FCgen(TM)-1300 low-cost, liquid-cooled stack.” Mr. Sheridan continued, “Market feedback has confirmed the substantial Indian telecom market opportunity, and we remain committed to this market. Together with our partners, we are well-positioned to pursue opportunities for our fuel cell stacks in natural gas-based systems, as well as significant opportunities for methanol and hydrogen-based systems.”

Atul Sabharwal, Chief Operating Officer, ACME Group said, “ACME is also disappointed with this delay, but feels as strongly as ever that a substantial market opportunity exists for fuel cells in wireless telecom backup power and other applications in India, where reliable, cost-effective and environmentally-friendly solutions are greatly needed. We are excited about the potential for Ballard’s low-cost, fuel cell stack.”

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.