Key Developments For Ballard Power Systems Inc.
Ballard Power Systems Inc. (BLDP.O) (Consolidated Issue listed on NASDAQ Global Market)
Ballard Power Systems Announces Distribution Agreement For Telecom Backup Power In India
Ballard Power Systems announced that its partners IdaTech, LLC (IdaTech) and ACME Group (ACME) have terminated the existing supply agreement between the three parties and replaced it with a new, more flexible distribution agreement between IdaTech and ACME for fuel cell solutions for wireless telecom backup power in India. Under the terms of this new agreement, Acme can distribute a range of IdaTech fuel cell products, focused on the natural gas system currently under development at IdaTech. Pricing and volume in the agreement are flexible and based on local market conditions. Shipment of the ElectraGen hydrogen systems, incorporating Ballard's FCgen 1020 fuel cell stacks, under the original Supply Agreement is unaffected by this change.
Ballard Power Systems Sees FY 2009 Revenue At Low End Of Prior Range Below Analysts' Estimates
Ballard Power Systems announced that for fiscal 2009, it expects revenue to come in at the low end of the previously stated range at $50.0 million, compared with $59.8 million in 2008. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $56.6 million for fiscal 2009.
Ballard Power Systems Inc. Lowers FY 2009 Revenue Guidance
Ballard Power Systems Inc. announced that for fiscal 2009, it has revised its annual revenue guidance to $50 million to $60 million. According to Reuters Estimates, analysts were expecting the Company to report revenue of $67 million for the same period. The Company cited the continued softness in Company's legacy supporting business segments combined with the general economic conditions, as the primary reasons for the outlook.
Ballard Power Systems Inc.'s Fuel Cells To Power Telecom Backup Power Units For Motorola
Ballard Power Systems Inc. announced that its FCgen-1020ACS fuel cell product is the power source for a 1.6 kiloWatt backup power system deployed by Motorola, a telecommunications solution provider. Dantherm Power A/S, through its affiliate Dantherm Air Handling A/S, is utilizing the Company's fuel cell product in a fully integrated cabinet solution for Motorola TETRA base stations throughout Denmark's SINE network.
Ballard Power Systems Confirms Order Of 310 Electragen H2 Hydrogen Based Units
Ballard Power Systems announced that together with its partner, IdaTech LLC, it has passed a product acceptance milestone and confirmed the order of 310 ElectraGen H2 hydrogen-based units. These units will be used to provide backup power for wireless telecommunications network equipment to ACME Tele Power Ltd customers in the Indian market. The units were designed and built around Ballard's FCgen-1020 ACS fuel cell stack.
