LONDON, UK / ACCESSWIRE / September 20, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Ballard Power Systems Inc. (NASDAQ: BLDP) ("Ballard"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/'symbol=BLDP. The Company announced on September 17, 2017, that Japan's Nisshinbo Holdings had given it a purchase order (PO) to develop a Technology Solutions program that would evaluate the potential of developing fuel cell stacks using a Non-Precious Metal Catalyst (NPMC) which could have commercial application in material handling. The PO further strengthens the collaboration announced between Ballard and Nisshinbo on September 12, 2017. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Commenting on the receipt of PO from Nisshinbo, Dr. Kevin Colbow, Vice President of Technology and Product Development at Ballard said:
"As announced last week, we are interested in exploring uses for the NPMC-based product for various commercial applications. Building on the new FCgen®-1040 stack, which we plan to launch in late-2017, we are starting a program to assess the potential incorporation of Non-Precious Metal Catalyst technology into our existing FCgen®-1020 air-cooled stack as well as our next-generation liquid-cooled stack. With this purchase order from Nisshinbo, a new multi-year Technology Solutions program will be initiated to work on this challenging next-step."
According to Dr. Colbow, generally both air-cooled and liquid-cooled fuel cell stacks are used to power forklift equipment when being used at sites. The Company's aim is to ultimately implement lower-cost NPMC-based air-cooled and liquid-cooled stacks into certain mobility applications. The initial focus of this program would be in the material handling space, where Companies like Wal-Mart and Amazon are already using fuel cell-powered forklift trucks in their various distribution centers. This space has great potential for commercial use of NPMC-based fuel cell stacks.
About the Ballard/ Nisshinbo collaboration
On September 12, 2017, Ballard/Nisshinbo had announced their collaboration to develop a NPMC for use in the world's first commercialized NPMC-based proton exchange membrane (PEM) fuel cell product. Ballard/Nisshinbo had come together in 2013 to jointly develop NPMC. In 2015, Nisshinbo invested $5 million in Ballard.
The current collaboration takes their joint efforts to the next level. Under the current collaboration, Ballard has managed to incorporate the NPMC into a high performing catalyst layer in a fuel cell stack product - the 30-watt FCgen-1040 fuel cell stack. Ballard plans to launch this new 30-watt FCgen-1040 fuel cell stack product which incorporates the NPMC for commercial use in late 2017.
Ballard's 30-watt FCgen-1040 fuel cell stack is a variant of Ballard's FCgen®-Non-Precious Metal Stackmicro fuel cell stack which is derived from the Company's air-cooled fuel cell technology. Ballard's FCgen®-Non-Precious Metal Stackmicro fuel cell stack is designed for integration into ultra lightweight applications. The collaboration with Nisshinbo has allowed Ballard to develop this innovative technology that reduces the amount of platinum used in an air-cooled fuel cell stack by more than 80%. Since platinum is an expensive metal it represents nearly 10% to 15% cost of a fuel cell stack. By reducing the amount of platinum used, the Company sees great potential in portraying the NPMC as a cost savings technology.
Ballard and Nisshinbo have been working together since 1994 when they came together for the development of carbon bipolar plates for Ballard. The relationship between the two Companies has strengthened and grown over the years.
About Ballard Power Systems Inc.
Ballard Power was founded in 1979 by Geoffrey Ballard, Keith Prater, and Paul Howard, and the Company started off as Ballard Research Inc. which conducted research and development of high-energy lithium batteries. The Company has been working on the development of PEM fuel cells since 1983. The Company was incorporated in 1989. The Company now offers a range of clean energy products that reduce customer costs and risks and helps customers solve difficult technical and business challenges in their fuel cell programs. In 2017, Ballard became the first fuel cell Company to power buses for more than 10 million cumulative kilometers of revenue service.
About Nisshinbo Holdings
Tokyo, Japan-based Nisshinbo Holdings is an Environmental and Energy Company. The Company has four strategic business verticals - Wireless/ Electronics; Automotive / Equipment; Lifestyle Materials; and New Energy / Smart Society. Nisshinbo provides low-carbon, optimized products across a range of business lines, including chemicals, precision instruments, electronics, automotive brakes and textiles. The Company has been a leading global supplier of carbon plates used in the construction of PEM fuel cells for various market applications.
Last Close Stock Review
At the closing bell, on Tuesday, September 19, 2017, Ballard Power Systems' stock fell slightly by 0.65%, ending the trading session at $4.60. A total volume of 5.14 million shares have exchanged hands, which was higher than the 3-month average volume of 1.63 million shares. The Company's stock price soared 59.17% in the last three months, 112.96% in the past six months, and 127.72% in the previous twelve months. Moreover, the stock skyrocketed 178.79% since the start of the year. The stock currently has a market cap of $778.60 million.
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