EnerSys' Investment in Altergy Systems Expands Collaboration to Bring Green Standby Power Technology to Market
December 17 2009 - 4:51PM
PR Newswire (US)
READING, Pa., Dec. 17 /PRNewswire-FirstCall/ -- EnerSys®
(NYSE:ENS), the world's largest manufacturer, marketer and
distributor of industrial batteries, invested an undisclosed amount
in Altergy Systems®, the developer and manufacturer of Freedom
Power® Series of advanced fuel cell systems. EnerSys and Altergy
also agreed to an expanded joint sales and development activity.
Under this expanded commercial alliance, EnerSys will be the
exclusive distributor of the Extended Run Time Solution(TM) standby
power system to certain markets and regions, including both
telecommunications and uninterruptable power supplies. "We see
increasing customer demand for hybrid system applications. Our
investment in Altergy Systems enables us to offer Extended Run Time
Solution technology as an alternative to diesel generators," said
John Craig, chairman, president and CEO of EnerSys. "We expect that
this investment will create a revenue stream for EnerSys with the
opportunity to supply the new hybrid markets, complement existing
offerings and provide new opportunities for our service offerings."
"This expanded alliance allows Altergy to leverage EnerSys'
impressive and extensive sales force to deepen the market
penetration of these proven, low cost, backup power systems. We are
pleased with the progression of our relationship with EnerSys, and
believe that with their help, we can Change the Way the World Gets
Its Power," said Eric Mettler, president and CEO of Altergy. Hybrid
systems, which may apply a combination of fuel-cell, wind and/or
solar power, cause no carbon emissions and very low levels of
noise, making them a desirable alternative to diesel-powered
standby generators for operations located in or near residential
areas. They also support equipment that runs continually where the
power grid is unreliable or nonexistent. These systems use
batteries to bridge power. The Extended Run Time Solution combines
EnerSys' PowerSafe® batteries and Altergy's proprietary Freedom
Power® hydrogen fuel-cells. This unique combination of SBS EON thin
plate pure lead battery technology and Altergy's advanced fuel
cells and high speed, automated manufacturing capability provide
customers with durability, consistency, quality, and availability.
The Extended Run Time Solution standby power system can be
programmed and monitored fully from remote locations. With one of
the highest power densities in the industry, it also offers the
smallest footprint of all standby power systems available to the
telecommunications industry. EnerSys' PowerSafe SBS batteries
provide back-up power for common outages, such as those caused by
lightening strikes, while Altergy's Freedom Power Systems provide
back-up power for longer duration power outages. About EnerSys
EnerSys, the world leader in stored energy solutions for industrial
applications, manufactures and distributes reserve power and motive
power batteries, chargers, power equipment, and battery accessories
to customers worldwide. Reserve power batteries are used in the
telecommunications and utility industries, uninterruptible power
supply industry, and numerous applications requiring standby power.
Motive power batteries are utilized in electric fork trucks and
other commercial electric powered vehicles. The Company also
provides aftermarket and customer support services to its customers
from more than 100 countries through its sales and manufacturing
locations around the world. For more information, contact Richard
Zuidema, executive vice president, EnerSys, P.O. Box 14145,
Reading, PA 19612-4145, USA. Tel: 800-538-3627; Website:
http://www.enersys.com/. About Altergy Altergy Systems® is the
global leader in the design, manufacture, sales, marketing and
deployment of fuel cell power systems. Altergy's Freedom Power(TM)
products are rugged, fully integrated, modular, scalable and
highly-efficient fuel cell systems that generate power at the
point-of-use making low cost, distributed power generation a
reality and provide the solution to the serious global shortage of
premium power and the growing demand for low cost, high quality
power. Altergy's unique design allows fuel cells to be manufactured
in high volume at low cost, making widespread use feasible. These
Freedom Power products provide freedom from the grid, freedom from
foreign oil, freedom from traditional energy solutions, and freedom
from pollution and are "Changing the Way the World Gets Its Power."
More information regarding Altergy can be found at
http://www.altergy.com/ Caution Concerning Forward-Looking
Statements This press release (and oral statements made regarding
the subjects of this release) contains forward-looking statements
(within the meaning of the Private Securities Litigation Reform Act
of 1995, or the Reform Act) which may include, but are not limited
to, statements regarding EnerSys' earnings estimates, plans,
objectives, expectations and intentions and other statements
contained in this press release that are not historical facts,
including statements identified by words such as "believe," "plan,"
"seek," "expect," "intend," "estimate," "anticipate," "will," and
similar expressions. All statements addressing operating
performance, events, or developments that EnerSys expects or
anticipates will occur in the future, including statements relating
to sales growth, earnings or earnings per share growth, and market
share, as well as statements expressing optimism or pessimism about
future operating results, are forward-looking statements within the
meaning of the Reform Act. The forward-looking statements are based
on management's current views and assumptions regarding future
events and operating performance, and are inherently subject to
significant business, economic, and competitive uncertainties and
contingencies and changes in circumstances, many of which are
beyond EnerSys' control. The statements in this press release are
made as of the date of this press release, even if subsequently
made available by EnerSys on its website or otherwise. EnerSys does
not undertake any obligation to update or revise these statements
to reflect events or circumstances occurring after the date of this
press release. Although EnerSys does not make forward-looking
statements unless it believes it has a reasonable basis for doing
so, EnerSys cannot guarantee their accuracy. The foregoing factors,
among others, could cause actual results to differ materially from
those described in these forward-looking statements. For a list of
other factors which could affect EnerSys' results, including
earnings estimates, see EnerSys' filings with the Securities and
Exchange Commission, including "Item 2. Management's Discussion and
Analysis of Financial Condition and Results of Operations,"
including "Forward-Looking Statements," set forth in EnerSys'
Quarterly Report on Form 10-Q for the fiscal quarter ended
September 27, 2009. No undue reliance should be placed on any
forward-looking statements. DATASOURCE: EnerSys CONTACT: Richard
Zuidema, executive vice president, EnerSys, 1-800-538-3627 Web
Site: http://www.enersys.com/
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