BEND, OR, Jul 02, 2009 (MARKETWIRE via COMTEX) — IdaTech plc (AIM: IDA.L), an advanced fuel cell products company, is pleased to announce positive progress regarding its contract with ACME Telepower Group (’ACME’). The Company received notification that its advanced fuel cell system, the ElectraGen(TM) H2, has successfully passed all customer specification testing.
The ElectraGen(TM) H2 system was developed following the Supply Agreement between IdaTech, ACME and Ballard Power Systems Inc. (’Ballard’) signed in October 2008. Under this Agreement, IdaTech will develop and supply fuel cell systems for delivery to ACME in 2009 and 2010, including 310 direct hydrogen fueled systems for delivery this year. The direct hydrogen fueled systems use Ballard’s FCgen(TM)-1020 ACS fuel cell stack, while the remaining systems will utilise natural gas and will incorporate Ballard’s new FCgen(TM)-1300 fuel cell stack. ACME selected IdaTech to develop and produce these systems based on IdaTech’s proven technology and its proprietary fuel reforming, with its ability to produce hydrogen onsite and on demand from a wide range of commonly available convenient liquid fuels, and its system integration experience. IdaTech has already deployed over 150 fuel cell systems worldwide to date to a variety of customers.
The direct hydrogen system, the ElectraGen(TM) H2, is to be used by ACME to develop the Indian telecommunications market ahead of the deployment of the natural gas fueled hydrogen fuel cell systems, due to commence in 2010.
10 ElectraGen(TM) H2 systems were shipped in June 2009 with the remaining 300 to be delivered during the remainder of 2009.
The ElectraGen(TM) H2 systems are being assembled in IdaTech’s existing low cost Mexican production facility.
The development of the natural gas fueled system continues, ahead of its expected deployment in 2010.
Commenting on the product acceptance and order for 310 systems, Hal Koyama, CEO, said:
“The acceptance of IdaTech’s ElectraGen(TM) H2 by ACME for telecommunication deployment in India is an exciting milestone for IdaTech. ACME’s acceptance process included the most rigorous testing any IdaTech product has faced to date. Passing this and securing the purchase order for the first 310 ElectraGen(TM) H2 validates the robustness of the product and ACME’s commitment to the program. Our system integration skills and real world field experience, gained from the 150 systems we have already deployed, have proved invaluable to ensuring the success of the ElectraGen(TM) H2.”
Sanjay Dhawan, CEO of ACME Telepower Group, commented:
“The performance of the ElectraGen(TM) H2 unit, incorporating Ballard’s FCgen(TM)-1020 ACS fuel cell, passed our acceptance criteria and expectations.”
Atul Sabharwal, Chief Operating Officer of ACME, further commented:
“We are excited to be working with both IdaTech and Ballard. The strong performance of the hydrogen fuel cells is an important operational milestone and demonstrates that we are on track for the broader deployment of the natural gas fuel cell product to begin later in the year.”
John Sheridan, Ballard’s President and Chief Executive Officer, said:
“Having the IdaTech ElectraGen(TM) H2 fuel cell product pass product acceptance is a key proof point in our joint partnership with ACME. This formal acceptance triggers the order of 310 hydrogen units.”
IdaTech plc is an advanced fuel cell products company which is operationally headquartered in Bend, Oregon, USA and is listed on AIM with the ticker code IDA.
IdaTech designs, develops, and manufactures extended run backup power fuel cell products for Telecom applications requiring 100 W to 15 kW of backup power. IdaTech’s unique PEM fuel cell technology provides solutions for a wide range of applications to directly support efforts towards sustainable energy.
IdaTech’s portfolio of industry-certified fuel cell products are based on the company’s fuel processing, purification and fuel cell system integration capabilities. With the support of strategic partners and customers, the company’s extended run backup power products are being deployed worldwide for stationary applications.
Additional information may be obtained by contacting the company direct or by visiting its website at http://www.idatech.com.