Ballard, IdaTech in fuel cell agreement

Vancouver, British Columbia's Ballard Power Systems (Nasdaq: BLDP) said today it signed a deal to supply its fuel cells to Bend, Ore.-based IdaTech, a developer of fuel cell systems and fuel processing systems.

Ballard said it would provide its Mark1020 ACS fuel cell for integration into IdaTech's 250 watt iGen power supply under the three year deal.

"This agreement shows further progress in accelerating market adoption of Ballard's leading fuel cell products," said Noordin Nanji, chief customer officer of Ballard.

"This new strategic relationship with IdaTech broadens our market focus with an important new fueling solution and deepens our market traction by establishing another important customer relationship in the fuel cell backup power market."

Ballard said the power generator from IdaTech is designed to be an auxiliary power unit for a number of applications, potentially including recreational vehicles and telecommunications backup power.

IdaTech is a subsidiary of South African banking group Investec.

Last November, Ballard sold its struggling automotive fuel cell business to Daimler (NYSE: DAI) and Ford Motor (NYSE: F) just a few days after confirming it was in talks to sell the assets (see Ballard selling auto fuel cell business to Daimler, Ford).

Under the power generator supply contract with IdaTech, Ballard said it would ship approximately 100 fuel cells in the first year, with the potential for more than 1,000 units over the full term of the agreement.