Ballard Power Systems (TSX:BLD) said Wednesday that a partner in a venture to sell back-up power systems in India will likely miss an important development deadline.
The result? Ballard's product volumes in 2010 will be affected, according to company CEO John Sheridan.
Ballard is developing a low-cost, liquid-cooled fuel cell stack to be used in IdaTech LLC's hydrogen and natural gas-based back-up power systems. The systems are to be sold by another partner into the Indian telecom market.
Oregon-based IdaTech was supposed to complete certain testing on its natural gas systems by October 16, but said the deadline will likely be missed.
Ballard's deal with IdaTech allows for a deadline extension of up to six months if IdaTech files an acceptable remediation plan by November 16.
But that plan also includes a stipulation that committed volumes in the program will be reduced commensurate with the length of the delay.
Ballard's share price was down 4% to $2.09 at market close on Wednesday.
Ballard's share price in the past week ranged between $2.09 and $2.27; 52-week high: $3.99; 52-week low: $1.10.