ALTERGY IN THE MEDIA

 

ALTERGY SETTLES DISPUTE WITH ENERSYS

CORPORATE NEWS

 ALTERGY SETTLES DISPUTE WITH ENERSYS

 

FOLSOM, California–August 13, 2014~ Altergy Systems (“Altergy”), a global leader in the design, manufacture, sales, marketing and deployment of clean and green hydrogen fuel cell power systems, announced today that it has entered into a binding term sheet with EnerSys Delaware, Inc. (NYSE: ENS) in regard to arbitration proceedings held before the American Arbitration Association (“AAA”).

 

EnerSys Delaware, Inc. (“EnerSys”) is the world’s largest lead-acid battery company and Altergy’s former exclusive distributor for certain markets in the United States.  On May 13, 2014, the AAA issued an award in Altergy’s favor on a claim that EnerSys had tortiously interfered with Altergy’s sales of its products.

 

Under the terms of the agreement, EnerSys will pay to Altergy $40 million in settlement of Altergy’s claims.  “We are pleased to have reached an agreement with EnerSys that will settle this matter without the need for further litigation,” commented Eric Mettler, President and CEO of Altergy.  “With this settlement, Altergy can turn its focus back to what we do best: Changing the Way the World Gets its Power.”

 

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 provide freedom from the grid, freedom from foreign oil, freedom from traditional energy solutions, freedom from batteries and freedom from pollution and are “Changing the Way the World Gets Its Power.”

 

For more information about Altergy Systems, visit www.altergy.com .

 

Altergy, Altergy Systems and Freedom Power are trademarks of Altergy Systems.  Copyright © 2001-2014 Altergy Systems.  All Rights Reserved.

 

Media Contact:                                              

Mickey Oros

916.458.9412

mickey.oros@altergy.com

 

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 Altergy’s 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 Altergy expects or anticipates will occur in the future 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 Altergy’s control. The statements in this press release are made as of the date of this press release, even if subsequently made available by Altergy on its website or otherwise. Altergy 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 Altergy does not make forward-looking statements unless it believes it has a reasonable basis for doing so, Altergy cannot guarantee their accuracy. The foregoing factors, among others, could cause actual results to differ materially from those described in these forward-looking statements.

ALTERGY SETTLES DISPUTE WITH ENERSYS

 

 

 
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