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LONDON, UK / ACCESSWIRE / February 23, 2018 / Active-Investors.com has just released a free research report on Ballard Power Systems Inc. (NASDAQ: BLDP). 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 21, 2018, the Canada-based Company announced that it has received a follow-on purchase order from Japan-based Nisshinbo Holdings to progress to the next stage a previously announced Technology Solutions program for development of Non-Precious Metal Catalyst (NPMC) based fuel cells. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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The next stage will focus on certain performance and power density enhancements to support development of low cost NPMC-based fuel cell stacks for material handling applications.
Ballard Collaborated with Nisshinbo to Offer World's First PEM Fuel Cell Product Using NPMC
On September 12, 2017, Ballard collaborated with Nisshinbo to develop NPMC for use in the world's first commercialized NPMC-based proton exchange membrane (PEM) fuel cell product, the 30-watt FCgen®-1040 fuel cell stack, which was made available for commercial sale in late-2017. The NPMC-based FCgen®-1040 fuel cell stack was a variant of Ballard's FCgen®-Non-Precious Metal Stackmicro fuel cell stack, derived from the Company's air-cooled fuel cell technology designed for integration into ultra lightweight applications.
On September 18, 2017, the Company received a purchase order from Nisshinbo to engage a Technology Solutions program that assessed the potential development of fuel cell stacks using NPMC for use in commercial material handling applications.
NPMC-Based Stacks Represent a Step-Change in PEM Fuel Cell Technology
Dr. Kevin Colbow, Vice President Technology and Product Development of Ballard, stated that the Company's goal for this multi-year Technology Solutions program is to expand the serviceable addressable market for fuel cell-powered forklifts and accelerate market adoption through the commercialization of leading air-cooled and liquid-cooled fuel cell stacks that deliver against market requirements at the lowest possible cost. Dr. Kevin added that NPMC-based stacks represent a step-change in PEM fuel cell technology by dramatically reducing the amount of platinum that is needed. And, since platinum currently contributes 10%-to-15% of the cost of a fuel cell stack, NPMC technology offers the potential for meaningful cost savings.
Ballard Won $4.2 Million Program to Develop Next-Gen Air-Cooled Fuel Cell Stack
On February 14, 2018, the Company signed a Technology Solutions program with an unnamed strategic customer to develop a next generation air-cooled fuel cell stack. The multi-year program had an initial value to Ballard of approximately $4.2 million. A key objective of the Technology Solutions program was to design and validate an ultra-high durability, high performance air-cooled fuel cell stack for uses in a number of target market applications, including certain material handling applications, with a target operating lifetime of 20,000 hours.
About Ballard Power Systems Inc.
Founded in 1979, Ballard Power Systems 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.
About Nisshinbo Holdings
Established in 1907 and based in Japan, Nisshinbo Holdings is an "Environmental and Energy Company" Group providing low-carbon, optimized products across a range of business lines, including chemicals, precision instruments, electronics, automotive brakes, and textiles. The Company has been a long-time leading global supplier of carbon plates used in the construction of PEM fuel cells for various market applications.
Stock Performance Snapshot
February 22, 2018 - At Thursday's closing bell, Ballard Power Systems' stock slightly dropped 0.58%, ending the trading session at $3.41.
Volume traded for the day: 1.27 million shares.
Stock performance in the previous six-month period - up 22.22%; and past twelve-month period - up 67.16%
After yesterday's close, Ballard Power Systems' market cap was at $606.50 million.
The stock is part of the Industrial Goods sector, categorized under the Industrial Electrical Equipment industry. This sector was up 0.6% at the end of the session.
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