ACME Contract Update
July 02 2009 - 7:00AM
UK Regulatory
TIDMIDA
RNS Number : 9430U
IdaTech PLC
02 July 2009
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| For immediate release | 2 July 2009 |
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IdaTech plc
("IdaTech" or "the Company")
ACME Contract Update
ElectraGenTM H2 Accepted for Indian Telecommunications Market- 310 systems
order confirmed
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 ElectraGenTM H2, has successfully passed all customer specification testing.
The ElectraGenTM 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
FCgenTM-1020 ACS fuel cell stack, while the remaining systems will utilise
natural gas and will incorporate Ballard's new FCgenTM-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 ElectraGenTM 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 ElectraGenTM H2 systems were shipped in June 2009 with the remaining 300 to
be delivered during the remainder of 2009.
The ElectraGenTM 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 ElectraGenTM 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
ElectraGenTM 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 ElectraGenTM H2."
Sanjay Dhawan, CEO of ACME Telepower Group commented:
"The performance of the ElectraGenTM H2 unit, incorporating Ballard's
FCgenTM-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 ElectraGenTM 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. "
For further information please contact:
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| IdaTech plc | +1 541 383 3390 |
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| Harol Koyama, Chief Executive Officer | |
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| James Cooke, Chief Financial Officer | |
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| | |
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| Numis Securities Limited | +44 (0) 20 7260 1000 |
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| Michael Meade | |
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| | |
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| Buchanan Communications | +44 (0) 20 7466 5000 |
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| Charles Ryland / Catherine Breen | |
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About IdaTech
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.
This information is provided by RNS
The company news service from the London Stock Exchange
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