Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean,
reliable energy solutions, and Ballard Power Systems Inc. (TSX:
BLD) (Nasdaq:BLDP) announced today 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™ 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 companies'
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® 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.
The Plug Power Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4446
Plug Power Inc. Safe Harbor
Statement
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.
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.
The Ballard Power Systems logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5230
Ballard Power Systems Inc. Safe
Harbor Statement
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.
CONTACT: Plug Power Inc.
Media Contact:
Reid Hislop
(518) 782-7700 ext. 1360
Investor Relations Contact:
Cathy Yudzevich
(518) 782-7700 ext. 1448
Ballard Power Systems Inc.
Media Contact:
Guy McAree
+1.604.412.7919
media@ballard.com
Investor Relations Contact:
Lori Rozali
+1.604.412.3195
investors@ballard.com
Grafico Azioni Plug Power (NASDAQ:PLUG)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Plug Power (NASDAQ:PLUG)
Storico
Da Lug 2023 a Lug 2024