Ballard Announces Sale of Fuel Cell Distributed Power Generation Solution to FirstEnergy
07 May 2009 - 6:35AM
PR Newswire (US)
VANCOUVER, May 6 /PRNewswire-FirstCall/ -- Ballard Power Systems
(TSX: BLD; NASDAQ: BLDP) today announced that it has signed a
supply agreement with FirstEnergy Corp. (NYSE:FE) to deliver a one
megawatt distributed power generation solution for use in a utility
load management demonstration project. The project is designed to
test the unit's application for providing peaking capacity and load
management over a three-year period. Initial plans call for the
trailer-mounted unit to be delivered in December 2009 and located
in Ohio. This product offering positions Ballard to enter into a
new market space focused on clean distributed power generation.
Government support for these applications is strong, particularly
in the US where the American Recovery and Reinvestment Act has
provided stimulus funds in the form of tax code changes, and direct
funding for initiatives such as Smart Grid programs. This sale to
FirstEnergy utilizes an outstanding product credit and is subject
to the receipt of partial funding from tax grants provided by
stimulus funds. Ballard's proven heavy-duty proton exchange
membrane (PEM) based FCvelocity(TM) products, which power bus
fleets around the world and offer world leading performance,
reliability, and robustness, will be leveraged for this
application. "We see the sale to FirstEnergy as an entry step into
distributed power generation, in niche applications where Ballard
can provide fuel cell solutions which leverage the unique
advantages of PEM, such as scalability and responsive load
following. We are also exploring other clean energy distributed
power generation opportunities using waste hydrogen," said John
Sheridan, Ballard's President and CEO. "By using our existing
heavy-duty FCvelocity(TM) products, we are able to test this market
without incurring significant development cost." "This
demonstration project will provide valuable information about
utility scale fuel cell technologies and their potential to provide
cost-effective solutions for peak demand and load management, as
well as helping to meet our advanced and renewable energy goals in
the states where we operate," said Gary R. Leidich, FirstEnergy
Executive Vice President and President of FirstEnergy Generation.
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 http://www.ballard.com/. Ballard, the
Ballard logo and Power to Change the World are registered
trademarks of Ballard Power Systems Inc. DATASOURCE: Ballard Power
Systems Inc. CONTACT: or to arrange an interview with a Ballard
spokesperson, please contact Amy Harada Bradley at telephone number
(604) 412-7913 or on e-mail
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