Stock Monitor: Atkore Intl. Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 16, 2018 / Active-Investors.com has just released a free research report on Ballard Power Systems Inc. (NASDAQ: BLDP) ("Ballard"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=BLDP as the Company's latest news hit the wire. On February 13, 2018, the Company announced the planned deployment of 500 licensed fuel cell electric commercial trucks in Shanghai, China. All the trucks are using the Ballard fuel cell stack technology. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Atkore International Group Inc. (NYSE: ATKR), which also belongs to the Industrial Goods sector as the Company Ballard Power Systems. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Ballard Power Systems most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=BLDP
Joint Venture Agreement
Ballard and Shanghai Reinventing Fire Technology Co. Ltd ("Re-Fire") have entered into a collaboration agreement, pursuant to which Re-Fire has agreed to use Ballard-designed fuel cell stacks in its fuel cell engines. Ballard's FCvelocity®-9SSL stacks are now being manufactured and are available from Guangdong Synergy Ballard Hydrogen Power Co., Ltd., Ballard's joint venture in Yunfu, Guangdong Province.
Agreement Insights
- Each of the fuel cell electric commercial trucks is designed by Dongfeng Special Vehicle Co. Ltd., and licensed, plated, and powered by a 30-kilowatt fuel cell engine which is designed and integrated by Re-Fire, featuring Ballard FCvelocity®-9SSL proton exchange membrane (PEM) fuel cell stacks.
- Each box van truck measures 6.4 meters (21 feet) in length, can carry a load of 3.2 tons, and has an expected range of more than 330 kilometers (205 miles).
- The trucks will be operated by Shanghai Sinotran New Energy Automobile Operation Co., Ltd, a newly established fuel cell electric vehicle operator, and are expected to be used primarily for intra-city deliveries of goods.
- The fleet is part of a plan to establish fuel cell utility vehicles in Shanghai through the Shanghai Fuel Cell Vehicle Development Plan, launched in 2017 by the Science and Technology Commission of Shanghai, the Shanghai Municipal Commission of Economy and Information, and the Shanghai Municipal Development & Reform Commission. By 2020, the city wants production to rise to 3,000 units a year.
Largest Planned Deployment of Fuel Cell-Powered Trucks Anywhere in the World
Randy MacEwen, President and Chief Executive Officer (CEO) of Ballard, stated that Re-Fire has developed a leading position as a system integrator in the fast-moving Chinese fuel cell transportation market. Ballard is pleased to collaborate with Re-Fire as it drives market adoption of fuel cell electric vehicles or FCEVs incorporating the Company's fuel cell technology. Ballard believes that this is the largest planned deployment of fuel cell-powered trucks anywhere in the world, happening in Shanghai given the city's leadership in the commercial adoption of FCEVs.
Hydrogen Infrastructure Development in China
In Shanghai, two recently-constructed hydrogen refueling stations are currently operating, with two additional stations planned for completion in the first half of 2018. As per the "Shanghai Fuel Cell Vehicle Development Plan", a total of 5-to-10 hydrogen fueling stations are planned by 2020. China is forecasted to account for approximately 42% of global production of medium- and heavy-duty trucks in 2020, or approximately 1.1 million units, according to LMC Automotive.
About Shanghai Reinventing Fire Technology Co. Ltd
Established in 2014 and headquartered in Shanghai, China, Re-Fire focuses on providing Fuel Cell System Products and Fuel Cell Vehicle Engineering Services to OEMs. It is the first Company to commercialize fuel cell systems in China by bringing the CAVEN 3 and CAVEN 4 to the China and global markets.
About Dongfeng Special Vehicle Co. Ltd
Dongfeng Special Vehicle manufactures special purpose vehicles. A member of the Dongfeng Group of Companies, the firm manufactures dump trucks, box van trucks, truck mounted loader cranes, wing van trucks, and other vehicles under the Dongfeng brand name. The Company was founded in 1969 and is based in Shiyan, China.
About Ballard Power Systems Inc.
Founded in 1979, Ballard is a developer and manufacturer of proton exchange membrane (PEM) fuel cell products for markets such as heavy-duty motive (consisting of bus and tram applications), portable power, material handling, as well as technology solutions including engineering services. The Company is headquartered in British Columbia, Canada.
Stock Performance Snapshot
February 15, 2018 - At Thursday's closing bell, Ballard Power Systems' stock dropped 1.17%, ending the trading session at $3.38.
Volume traded for the day: 1.58 million shares.
Stock performance in the last six-month period - up 19.86%; and past twelve-month period - up 71.57%
After yesterday's close, Ballard Power Systems' market cap was at $600.56 million.
The stock is part of the Industrial Goods sector, categorized under the Industrial Electrical Equipment industry. This sector was up 1.5% at the end of the session.
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