VANCOUVER, May 6 /CNW/ - 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
"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),
Ballard, the Ballard logo and Power to Change the World are registered
trademarks of Ballard Power Systems Inc.
For further information:
For further information: or to arrange an interview with a Ballard
spokesperson, please contact Amy Harada Bradley at telephone number (604)
412-7913 or on e-mail firstname.lastname@example.org