Ballard signs fuel cell licensing & engineering services agreement with M-Field in Europe
Vancouver, Canada - Ballard Power Systems announced that it has signed a definitive agreement for the sub-license of intellectual property (IP) to M-Field Energy Corporation ("M-Field"), a sustainable energy company, for material handling systems to be deployed in Europe.
Steve Karaffa, Ballard's Chief Commercial Officer said, "This deal furthers our three-level business model, by leveraging Engineering Services and applicable IP in order to support the penetration of fuel cell products in a variety of geographic markets."
H2 Logic A/S, a leading European manufacturer of hydrogen refueling stations and fuel cell systems for applications such as forklift trucks and tow tractors, has made a strategic decision to narrow its business focus to hydrogen refueling stations. Ballard has acquired the material handling intellectual property portfolio of H2 Logic A/S and is sub-licensing this IP to M-Field under the agreement announced today.
Also under the agreement, Ballard will be the exclusive supplier of fuel cell stacks - including the FCgenTM-1020ACS air-cooled and FCvelocityTM-9SSL liquid-cooled stack products - for all material handling systems deployed by M-Field in Europe. Interest in fuel cell-powered forklift trucks for use in high-throughput indoor distribution centers and warehouses is the result of financial benefits associated with increased productivity and lower operating costs, compared to incumbent lead acid battery-powered trucks. Fuel cell systems are also a zero-emission, clean energy alternative that eliminates costs associated with handling and storing toxic materials, such as lead acid batteries.
Source: IWR Online, 30 Jun 2014
