VANCOUVER, March 3, 2013 - Ballard Power Systems has
announced signing of an agreement with Anglo American Platinum
Limited under which Anglo American Platinum will
invest $4 million in Ballard through its PGM Development
Fund, to support continued commercial advancement of the Company's
fuel cell products in target market applications.
Anglo American Platinum's interest in the growth of fuel cell
market adoption extends beyond the implications for platinum
utilization, to the potential transformational impact fuel cells
could have on the economy in South Africa.
Fuel cell-based product deployments will
be a positive catalyst for growth in global platinum
demand." Godfrey Oliphant, South Africa's Deputy Minister of
An example of this latter impact is the joint work currently
underway between Ballard and Anglo American Platinum on development
of a prototype Home Generator.
This product is intended to address the need of many households
in remote rural communities for economical electric power. The Home
Generator will be built with Ballard fuel cells and run on readily
available methanol fuel, utilizing an integrated fuel reformer.
Work on the fuel reformer will also benefit Ballard's
ElectraGenTM methanol-fuelled systems, which
provide power solutions to the telecommunications industry.
Godfrey Oliphant, South Africa's Deputy Minister of Mineral
Resources said, "We are very pleased to see Anglo American
Platinum's investment in Ballard and their commitment to
beneficiation of platinum in South Africa. Fuel cell-based
product deployments will be a positive catalyst for growth in
global platinum demand."
"South Africa is the leading producer of platinum and
innovations such as the Home Generator project move our country in
a positive direction towards participating actively in the
application of Platinum Group Metals in new technologies which will
create important jobs for our economy," he added.
"This strategic investment from Anglo American Platinum is a
tremendous demonstration of Anglo's commitment to fuel cells",
said John Sheridan, President and CEO of Ballard Power
Systems. "Furthermore, the Home Generator power system that we are
jointly developing has the potential for profound impacts
in South Africa and elsewhere."
Andrew Hinkly, Executive Head - Commercial for Anglo American
Platinum added, "The agreement we have announced is a testament to
our confidence in Ballard's commercial and technical abilities as a
fuel cell leader as well as our partnership toward completion of
the very important Home Generator work. This program will enable
our beneficiation strategy in Africa to create jobs in a
key growth sector for the economy."
Once Ballard has completed development of a prototype Home
Generator system meeting commercial product requirements, the
companies will undertake further field trials, potentially leading
to the manufacture, distribution and support of a commercial
product for the African market.
Read more about the
potential for fuel cell technology in Africa
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