Ballard Power Systems Inc BLDP

Primary Symbol: T.BLDP

Industrials

Ballard Power Systems Inc. is engaged in the design, development, manufacture, sale and service of proton exchange membrane (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, as well as the delivery of services, including technology solutions, after sales services and training. The Company operates in a single segment of fuel cell products and services. Embedded in each Ballard fuel cell product lies a stack of unit cells designed with its PEM fuel cell technology that includes membrane electrode assemblies, catalysts, plates, and other key components, and draw on intellectual property from its patent portfolio, together with its experience and know-how, in key areas of PEM fuel cell stack design, operation, production processes and systems integration.

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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.