IdaTech on Track to Open Indian Fuel Cell Systems Manufacturing Plant

AIM-listed US fuel cell maker IdaTech PLC announced it is on track to establishing a production facility in India to fulfil the fuel systems deliveries under the October 2008 agreement with ACME Group and said that following the first batch of 310 hydrogen-based units, the remainder of the initial 10,000 units will be running on natural gas.  

The deal signed with Indian power equipment provider ACME originally envisaged the supply of up to 30,000 5 KiloWatt hydrogen fuel cell systems over four years.

As previously announced, significant advancements in its proprietary technologies will allow IdaTech to produce more robust and significantly more cost effective integrated fuel cell systems by 2010. The first of these products to be launched will be the natural gas fuelled system for deployment in early 2010 under the ACME contract, 9,690 systems in all, preceded by the abovementioned batch of 310 hydrogen powered cells which will be delivered this year.

The hydrogen cells for ACME will be built at IdaTech's manufacturing facility in Tijuana, Mexico, and the other units at the Indian facility which will be fully operational by the end of 2009.

While IdaTech will develop its new natural gas fuel cell capability for the ACME contract, it will continue to sell its core ElectraGen back-up power product family, which typically uses a methanol-water mix as a fuel, to its key telecommunications customers.  IdaTech will also continue to sell and develop iGen, which is currently in a number of field trials in a variety of applications.

IdaTech will redirect its existing resources away from development of the iGen Consumer product which will now not be launched for the foreseeable future, and it will also suspend development of a product suitable for the materials handling market.

http://www.proactiveinvestors.co.uk/companies/news/4709/idatech-says-on-track-to-start-indian-production-facility-focus-on-natural-gas-power--4709.html?IDA

Source: Proactiveinvestors.co.uk