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IdaTech acquires Plug Power backup power product lines
Fuel Cells, Oct 28 2010 (The Hydrogen Journal)
- IdaTech Plc of Oregon, USA, a manufacturer of backup power fuel cell products has acquired back up power fuel cell product lines from Plug Power.
Specifically, it has acquired Plug Power's "GenCore" backup power system and its "GenSys" LPG off grid fuel cell products.
It has a non exclusive license to use the relevant patents as part of the deal.
The price was $5m.
IdaTech specialises in telecoms backup power, providing backup power when the electricity grid fails. Through its acquisition of Plug Power assets, it will expand into a new market, of providing telecoms power where there isn't any grid electricity at all, an estimated market of $1bn.