Product designed to deliver power to off-grid residential dwellings
VANCOUVER, June 18, 2013 /CNW/ - Ballard Power Systems (NASDAQ:
BLDP)(TSX: BLD) today announced that, with a commitment of investment
funding to support field trials, the South African Government has
reinforced its support of growth in that country's fuel cell industry.
Godfrey Oliphant, South Africa's Deputy Minister of Mineral Resources,
made the announcement during his presentation to attendees of the
"Hydrogen + Fuel Cells 2013 International Conference and Exhibition" (www.hfc2013.com) in Vancouver.
As part of its beneficiation strategy and the drive to improve on the
uses of platinum, the South African Government, through its funding
institutions, will partner with Ballard Power Systems and Anglo
American Platinum with initial field trials of a new methanol-fuelled
'home generator' prototype product designed for use in off-grid
residential applications. The product encompasses a complete fuel cell
system, including fuel cell stack, methanol fuel processor and other
components needed to meet the market requirements of rural
electrification within a local mini-grid. The home generator product is
being developed as a means of addressing the many African households in
rural communities that are currently unable to economically access the
grid as a result of distance or terrain.
Godfrey Oliphant, South Africa's Deputy Minister of Mineral Resources
said, "We are very pleased to support the field trials of the home
generator product being developed by Anglo American Platinum and
Ballard Power Systems. Projects such as this are key in the development
of new technologies which will stimulate the creation of jobs for the
South African economy."
Platinum-based fuel cells provide a significant economic and
environmental development opportunity for South Africa by facilitating
the provision of clean, reliable and cost-effective power. South Africa
holds 75% of the world's supply of platinum, a key component of
Ballard's proton exchange membrane fuel cell products.
"Anglo's involvement in fuel cell market adoption extends beyond the
implications for platinum utilization to the potential transformational
impact fuel cells could have on the economy in South Africa," said
Andrew Hinkly, Anglo American Platinum's Executive Head of Marketing.
"Fuel cell-based product deployments enable the platinum beneficiation
strategy in Africa and create jobs in a key growth sector for the
Karim Kassam, Vice President, Business & Corporate Development added,
"We are excited by the progress under our joint development agreement
with Anglo American Platinum. Work to date has included a market
feasibility study, testing of a proof-of-concept system based on
existing technology and initial work on a prototype system."
Systems deployed in initial field trials during 2014 will provide
valuable data to support further development of the prototype systems.
Upon successful completion of the product development phase, plans are
to proceed to a pilot test of more than two hundred units in villages
across rural South Africa in 2015.
About Ballard Power Systems
Ballard Power Systems (NASDAQ: BLDP)(TSX: BLD) provides clean energy
fuel cell products enabling optimized power systems for a range of
applications. Products deliver incomparable performance, durability and
versatility. To learn more about Ballard, please visit www.ballard.com.
This release contains forward-looking statements product development
activities, market adoption for our products and business development
opportunities. These forward-looking statements 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. Any such forward-looking statements
are based on Ballard's assumptions relating to its financial forecasts
and expectations regarding its product development efforts,
manufacturing capacity, and market demand.
These statements involve risks and uncertainties that may cause
Ballard's actual results to be materially different, including general
economic and regulatory changes, detrimental reliance on third parties,
successfully achieving our business plans and achieving and sustaining
profitability. For a detailed discussion of these 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
Image with caption: "Godfrey Oliphant, South Africa's Deputy Minister of Mineral Resources (left) Karim Kassam, Vice President, Business & Corporate Development, Ballard Power System (right) (CNW Group/Ballard Power Systems Inc.)". Image available at: http://photos.newswire.ca/images/download/20130618_C9340_PHOTO_EN_28159.jpg
SOURCE: Ballard Power Systems Inc.
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