IdaTech and ACME Restructure Fuel Cell Power Products Agreement

IdaTech and ACME Group announced that they had agreed to alter a previously announced supply agreement to a distribution agreement for IdaTech’s ElectraGen back-up power products, which typically use a methanol-water mix as a fuel, but can also run on natural gas.


The deal was altered after a product acceptance milestone, originally due in October 2009, was missed, and subsequently IdaTech elected not to submit a remediation plan by 15 November 2009. Instead, IdaTech and ACME entered into a new agreement, replacing the original supply agreement with a distribution agreement.


Under the terms of the new agreement, ACME and IdaTech will work together to develop back up fuel cell systems using natural gas. The natural gas fuel cell system will still incorporate Ballard Power Systems’ liquid cooled FCgenTM 1300 stack.


" The Distribution Agreement gives both IdaTech and ACME greater flexibility and allows the companies to continue to collaborate on a number of projects,” Hal Koyama, CEO of IdaTech stated. “…As previously announced, in the development of the natural gas product, IdaTech has broken through a significant number of the cost barriers and added significant new technology to the Company's portfolio. Much of this new capability will also be leveraged in IdaTech's next generation methanol/water fueled systems, due for launch in late 2010."

Source: Fuel Cell Today