The extension of the agreement, which was due to expire on December 31, 2010, has also made Plug Power the exclusive systems integrator for Ballard’s fuel cell stack into systems for the material handling market in North America.
With over 85% market share in the material handling space, this mutual supply agreement is expected to help both the companies assume a strong position as the providers of fuel cell energy products in this industry.
According to the company, GenDrive, a power alternative to lead-acid batteries in electric material handling vehicles, has been implemented by several material handling organizations in their operations with the view of increasing productivity, lowering operational costs and reducing greenhouse gas emissions through their operations.
Andy Marsh, CEO of Plug Power, said: “Ballard and Plug Power’s technology has been integrated, tested and improved over the lifetime of the GenDrive product to become the world’s most reliable fuel cell power solution for the material handling industry.
“This mutual exclusivity positions Ballard and Plug Power as the industry leaders committed to driving commercial activity and growth.”
