Ballard, Dantherm, Danfoss Invest to Create European Fuel Cell Backup Power Systems Capability
Ballard Power Systems announced that it has acquired a controlling interest in Denmark-based Dantherm Power, partnering with co-investors Danfoss A/S and Dantherm A/S.
Dantherm Power develops clean energy backup power systems, utilizing Ballard’s hydrogen fuel cell technology, for telecom equipment suppliers including Motorola and Ericsson. The joint investment and partnering support from Ballard, Danfoss and Dantherm is expected to result in accelerated development of fuel cell backup power applications across Europe.
"Dantherm Power has a strong track record in fuel cell backup power systems in telecommunications, including the largest European fuel cell installation for TETRA emergency networks as well as for telecom service providers", said John Sheridan, Ballard’s President and CEO. "Through this Dantherm Power investment, Ballard will now be actively involved with delivery of complete backup power systems, in addition to providing fuel cell stacks and power modules to leading companies including IdaTech, Plug Power, Baxi Innotech and ISE Corp., in other markets."
Torben Duer, President and CEO of Dantherm A/S, which is a manufacturing partner of Dantherm Power, added "Dantherm Power is already supplying clean energy power products to some of our key customers, like Motorola. This investment will increase momentum behind fuel cell product development work at Dantherm Power and will help accelerate growth of fuel cell power in the backup telecom market."
"This strategic co-investment with Ballard, the leader in fuel cells, and Dantherm A/S creates a leading supplier of fuel cell power solutions", commented Niels Christiansen, President and CEO of Danfoss A/S. "We believe that this relationship will work well for our clean energy strategy, which today includes wind, solar and biofuels. We believe that fuel cell power can play an important role in our key markets, including renewable energy products and environmentally friendly heating."
Ballard is investing $6 million for a controlling interest in Dantherm Power, in two tranches between 2010 and 2012. Ballard will also provide knowledge and intellectual property related to core fuel cell technology. Dantherm Power will continue its current commercial initiatives, including sales of hydrogen-based products incorporating Ballard’s fuel cell stack. In addition to its cash investment, Dantherm A/S will continue to provide operational support and collaborative sales and marketing activities through its worldwide sales organization. Danfoss A/S will invest cash, proprietary technology, expertise, as well as operational and commercial assistance through its network of 93 sites in 25 countries. Executives from the three companies will form a new board of directors for Dantherm Power.
