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Publish Date : 05-Mar-2013

A definitive deal has been inked between Ballard Power Systems and Anglo American Platinum Limited.

The deal will see Anglo American Platinum investing $4 million in Ballard through its PGM Development Fund, to support ongoing commercial advancement of the firm\'s fuel cell products in target market applications.

Anglo American Platinum\'s interest in the development of fuel cell market adoption reaches beyond the implications for platinum consumption, to the prospective revolutionary affect fuel cells could have on the economy in South Africa.

South Africa\'s Deputy Minister of Mineral Resources, Godfrey Oliphant, said, \"We are very pleased to see Anglo American Platinum\'s investment in Ballard and their commitment to beneficiation of platinum in South Africa. Fuel cell-based product deployments will be a positive catalyst for growth in global platinum demand. South Africa is the leading producer of platinum and innovations such as the Home Generator project move our country in a positive direction towards participating actively in the application of Platinum Group Metals in new technologies which will create important jobs for our economy.\"

President and CEO of Ballard Power Systems, John Sheridan, said, \"This strategic investment from Anglo American Platinum is a tremendous demonstration of Anglo\'s commitment to fuel cells. Furthermore, the Home Generator power system that we are jointly developing has the potential for profound impacts in South Africa and elsewhere.\"

Executive Head - Commercial for Anglo American Platinum, Andrew Hinkly, said, \"The agreement we have announced is a testament to our confidence in Ballard\'s commercial and technical abilities as a fuel cell leader as well as our partnership toward completion of the very important Home Generator work. This program will enable our beneficiation strategy in Africa to create jobs in a key growth sector for the economy.\"

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