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IdaTech plc ('IdaTech' or the 'Company') (AIM IDA.L), a global leader in the development and manufacturing of clean and reliable PEM fuel cell products for critical backup power markets, has executed a distribution agreement with Microm S.A. de C.V ("Microm"), a subsidiary of Grupo Condumex, which is focused on integration of equipment and supply to the telecommunications industry. In parallel with the signing of this agreement, Microm has purchased ten of IdaTech's fully integrated ElectraGen™ backup power fuel cell systems incorporating hydrogen reformers, as referred to in IdaTech's trading update dated 18 January 2008. These systems will be deployed into live communications sites following delivery early this year.
As IdaTech's largest channel partner in the Latin America region, Microm significantly increases IdaTech's global sales reach and augments the Company's ability to provide regional support. Microm and Condumex have a presence throughout the Caribbean, Central and South America and other parts of the world. Furthermore, the agreement with IdaTech allows for Microm to become a systems integrator for IdaTech fuel cell solutions.
The ElectraGen™ backup power fuel cell systems purchased by Microm are compact units incorporating IdaTech's fuel cell system for power generation and its proprietary fuel reforming capability which converts liquid fuel into high-purity hydrogen onsite as needed. These units will provide Microm and its customers with extended run backup power and avoid the requirement to store or refuel compressed hydrogen gas. The high price of hydrogen in Latin America and the difficulty in delivering hydrogen to remote telecommunications sites makes the ElectraGen™ integrated system a logical and attractive solution to carriers in the region.
Commenting on the order and the agreement Hal Koyama, IdaTech's Chief Executive Officer said, "We are delighted to announce our partnership with Microm, as they add key commercial capabilities being a top tier partner in the Latin American telecom markets. Additionally, we believe that the receipt of this order, our largest single telecom purchase to date, continues the move towards embracing the use of fuel cell products in the telecommunications industry and provides recognition of the importance of IdaTech's fuel reforming capability to break through the "hydrogen barrier". We view Latin America as a very attractive geography for our fuel cell systems and look forward to working closely with Microm in this region."
Microm stated, "With Microm's focus on providing the highest level of customer service and support, we are pleased to include IdaTech's fuel cell systems in our portfolio of solutions. Their fuel reforming capabilities allow the highest level of reliable backup power with extended run times for telecommunications applications."
For further information please contact:
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IdaTech plc |
+1 541 322 1000 |
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Harol Koyama, Chief Executive Officer |
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James Cooke, Chief Financial Officer |
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Amy Clem, Marketing Communications Manager |
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Buchanan Communications |
+44 (0) 20 7466 5000 |
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Charles Ryland / Catherine Breen |
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Dresdner Kleinwort |
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Charles Batten / Ben Bailey / Jon Drage |
+44 20 7623 8000 |
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About IdaTech
IdaTech is a global leader in the development and manufacturing of clean and reliable PEM fuel cell solutions for telecommunications, commercial and industrial backup power from 250W to 15 kW. IdaTech's unique technologies provide solutions for a wide range of applications from portable to off grid power and directly support efforts towards sustainable energy.
IdaTech's portfolio of industry-certified fuel cell solutions are based on the company's fuel processing, fuel cell stack and power module and fuel cell system integration capabilities. With the support of strategic partners and customers, the company's energy solutions are being deployed domestically and internationally for stationary, portable and other advanced applications.
For more information on IdaTech fuel cell solutions and advanced technologies, please visit www.idatech.com.
About Microm SA de CV
Microm Electronica, S.A. de C.V. manufactures and provides integrated solutions for electrical, electronic and electromechanical products and systems, intended for the power and telecommunications markets.
MICROM develops its technology through the Condumex Research and Development Center (CIDEC, Centro de Investigacion y Desarrollo Carso), an institution of technological excellence oriented to creation of new products, material development and process improvement.
Microm SA de CV is also responsible to commercialize alternate energy solutions integrating solar, eolic and fuel cell systems, and its experience has proven to be an ideal complement to its portfolio to solve any power need, taking advantage of the technological possibilities offered by solar, eolic and fuel cell energy generation, with clear performance and availability benefits. |
