C&D Technologies and IdaTech Announce Agreement for Fuel Cell Solutions
BLUE BELL, Pa., Dec. 19 -- C&D Technologies, Inc. (NYSE: CHP), a leading North American producer and marketer of electrical power storage and conversion systems used in telecommunications, industrial and motive applications, announced today that it has reached an agreement with IdaTech, LLC, a global fuel cell solutions developer and manufacturer, to resell IdaTech's fuel cell solutions.
"We are excited to announce our agreement with IdaTech to resell and service fuel cell solutions for backup power applications. Our customers have clearly indicated that they are evaluating new backup power technologies for applications where traditional lead acid battery-only solutions are not viable. We believe IdaTech's technologies, which have the capability of utilizing methanol and a fuel reformer instead of only pure hydrogen, overcome many of the challenges other fuel cell options present, such as hydrogen sighting and limited run times, and will be a viable and dependable backup power solution going forward," said Dr. Jeffrey Graves, President and Chief Executive Officer for C&D Technologies. "Initially, we will focus on the remote telecommunications backup power market segment, which we estimate at over $300 million, and will work with our telecommunications customers that have been evaluating new technology options, including battery/fuel cell combinations, for remote locations. Fuel cell systems are one of the areas where C&D Technologies is expanding its technical expertise in order to provide our customers with the best backup power solutions, regardless of technology utilized."
About C&D Technologies:
C&D Technologies, Inc. provides solutions and services for the switchgear and control (utility), motive (material handling), telecommunications, and uninterruptible power supply (UPS) as well as emerging markets such as solar power. C&D Technologies engineers, manufactures, sells and services fully integrated reserve power systems for regulating and monitoring power flow and providing backup power in the event of primary power loss until the primary source can be restored. Through our Power Electronics Division, we manufacture and market custom, standard and modified-standard electronic power supply systems, including DC to DC converters, for large OEMs of telecommunications and networking equipment, as well as office and industrial equipment. The division also manufactures power conversion products sold into military and CATV applications as well as digital panel meters and data acquisition components. C&D Technologies' unique ability to offer complete systems, designed and produced to high technical standards, sets it apart from its competition. C&D Technologies is headquartered in Blue Bell, PA. For more information about C&D Technologies, visit www.cdtechno.com
About IdaTech:
IdaTech's fuel cell solutions are based on a flexible modular design, supporting interchangeable components, which enables IdaTech to accelerate product development incorporating proven components and subsystems into customized configurations. Additionally, IdaTech's fuel cell solutions incorporate its patented fuel processing technology and operate on a variety of fuels.
IdaTech's portfolio of fuel cell solutions is based on its proprietary multi-fuel fuel processing technology, its own fuel cell stack and power module, and fuel cell system integration capabilities. With the support of strategic partners, the company's solutions are being deployed on a global scale for stationary and portable applications.
SOURCE C&D Technologies, Inc.
CONTACT:
Ian Harvie of C&D,
+1-215-619-7835
Joseph Crivelli,
Gregory FCA, for C&D,
+1-610-642-8253
Amy Clem,
IdaTech,
+1-541-322-1022
