Idatech


IdaTech is a leader in the development and manufacturing of clean and reliable proton exchange membrane fuel cell products for telecommunications, commercial and industrial backup power from 250W to 15 kW.

IdaTech says on track to start Indian production facility, focus on natural gas power

Monday, March 09, 2009
company news image

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.


Register here to be notified of future Idatech articles.

Additional Information

Market:AIM
Sector:Cleantech and Renewable Energy
EPIC:IDA
Latest Price: 60.00p  (0.00%)
52-week High:92.50p
52-week Low:60.00p
Market Cap:31.39M

1 year chart

digital-look imported chart image

1 day chart

digital-look imported chart image

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.