Ballard Power Systems Inc BLDP

Primary Symbol: T.BLDP

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Ballard Power Systems Inc. is a proton exchange membrane (PEM) fuel cell power system development and commercialization. The Company’s principal business is the design, development, manufacture, sale and service of PEM fuel cell products for a variety of applications, focusing on power products for bus, truck, rail, marine, stationary and emerging market (material handling, off-road and other) applications, and the delivery of services, including technology solutions, after sales services and training. It also offers hydrogen fuel cell powertrain integration solutions. Its fuel cell is an environmentally clean electrochemical device that combines hydrogen fuel with oxygen (from the air) to produce electricity. It also has sales, assembly, research and development, certain engineering services and after-sale service facilities in Hobro, Denmark and London, United Kingdom, and has a sale, supply chain, and after-sales service office in Guangzhou, Guangdong Province, China.

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Ballard Power Systems Inc

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Post by maverick2004on Jan 08, 2021 9:46am

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Post# 32252855

BIG NEWS BLDP

Globe says Ballard soars on S. Korean hydrogen deal

2021-01-08 09:35 ET - In the News

The Globe and Mail reports in its Friday edition that South Korean conglomerate SK Group is acquiring a 9.9-per-cent share of Plug Power Inc. for $1.5-billion (U.S.), sending shares in the U.S. fuel cell producer higher while sparking a rally in the hydrogen sector. The Globe's Brent Jang writes that SK Group's investment in Plug Power of Latham, N.Y., is part of a new partnership designed to speed up the development of hydrogen-powered fuel cells while also spurring the production of hydrogen as an energy source in South Korea and other Asian markets. Plug Power shares surged on Thursday on the Nasdaq Stock Market, rising 35.1 per cent to close at $47.29 (U.S.). Ballard Power Systems benefited from the spotlight placed on hydrogen, with its shares jumping 15.7 per cent on the Toronto Stock Exchange to finish at $35.64, marking the Canadian company's highest close since May, 2002. Plug Power and Ballard both make hydrogen fuel cells, though the focus of Plug Power's partnership with SK Group is expected to be on hydrogen production in Asia, said MacMurray Whale, an analyst with Cormark Securities. China's Weichai Power announced in late 2018 that it bought a 19.9-per-cent stake in Ballard.