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Ballard Power Systems Inc T.BLDP

Alternate Symbol(s):  BLDP

Industrials
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.


TSX:BLDP - Post by User

Ballard Power Systems Inc
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Post by Betteryear2on Apr 01, 2024 6:36pm
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Post# 35963840

Ballard announces $54 million of additional funding support

Ballard announces $54 million of additional funding supportVANCOUVER, BC and ROCKWALL, Texas, April 1, 2024 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) announced it has been awarded $54 million of investment tax credits from the U.S. Internal Revenue Service as part of the Qualifying Advanced Energy Project Tax Credit (48C), funded by the Inflation Reduction Act (IRA). The 48C program, which provides 30% investment tax credits for selected clean energy manufacturing projects, is designed to support secure and resilient domestic clean energy supply chains. Ballard plans to use the $54 million in tax credits to support the build-out of a new fuel cell Gigafactory in Rockwall, Texas.

Ballard announces $54 million of additional funding support, bringing total U.S. federal funding to $94 million for Ballard's fuel cell Gigafactory in Texas (prnewswire.com)
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