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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™ 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 (enersys.com), 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, PO Box 14145, Reading, PA 19612-4145, USA. T: 800-538-3627.
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™ 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.”
For more information, contact Richard Zuidema, executive vice president, EnerSys, PO Box 14145, Reading, PA 19612-4145, USA. T: 800-538-3627
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.
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