AEDC can confirm the following developments in terms of ongoing operations
AEDC received a
World Quality Commitment (WQC) Award in the Gold category (quality,
technology and innovation) on 29 October 2012 in Paris, France.
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is in the process of setting up a manufacturing, research and development
facility near Vancouver, B.C. Canada.
AEDC partners in Thailand have secured financing and are in the process of
setting up a component manufacturing facility in Bangkok for certain
accessories for the fuel cells.
AEDC negotiations in Namibia for setting up a manufacturing facility in
Windhoek are progressing well. The Department of Industry in Namibia
granted funding in April 2012 to a local company to develop a full business
plan for the Namibian Development Bank who indicated that it would finance
up to 7 million NAM$ as low cost loan to the Namibian company. AEDC
will hold 25,1% of the local company. The business plan is expected to be
finalized during September 2012.
AEDC, through its local company ZINCAIR Power Technology, is in the process
of finalising a pilot project in North America, in conjunction with its U.S.
partners who have a special communication technology for remote areas.
We, as AEDC, will provide the fuel cell power to operate the transmission
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AEDC is in the process as well to have a similar project in Bolivia and
Indonesia. Negotiations are in an advanced stage.
AEDC is in the process of negotiating new funding for its expansion and the
roll out of its marketing strategy in Southern Africa. A Canadian, private
company, ZINCAIR Power Technologies Ltd. is presently owned 100% by AEDC
South Africa. The local company implements the financing drive in order to
attract new capital. It is expected that a first financing round will
be closed during September / October 2012.