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News Breaks | | | | March 4, 2013 | | 05:08 EDT |  | BLDP | Ballard Power receives $4M strategic investment from Anglo American Platinum
Ballard Power Systems has announced signing of a definitive agreement with Anglo American Platinum, under which Anglo American Platinum will invest $4M 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. 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 ElectraGen methanol-fuelled systems, which provide power solutions to the telecommunications industry. | |
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