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January 31, 2013
17:02 EDTBLDPBallard Power sells U.S. material products division
Ballard Power Systems (BLDP) has announced the closing of an agreement to sell the company's Material Products division, located in Lowell, MA for up to $12M. Of this amount, $10.5M was paid to Ballard in cash on closing, with the remainder payable on the basis of 2013 financial results associated with the Material Products division. Substantially all the assets of the Material Products division were purchased by investment group ALY Holdings in partnership with the division's senior management, through AvCarb, a new company formed as a result of the transaction. BMO Capital Markets acted as exclusive financial advisor to Ballard throughout the divestiture process.
News For BLDP From The Last 14 Days
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October 1, 2015
05:17 EDTBLDPBallard Power receives purchase order from Aditya Birla in India
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September 28, 2015
08:09 EDTBLDPBallard Power signs $6M joint development agreement and supply agreement
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September 27, 2015
14:41 EDTBLDPBallard signs license, supply agreement with Synergy Hydrogen for roughly $17M
Ballard Power Systems signed a new long-term license and supply agreement with an existing partner in China, Guangdong Synergy Hydrogen Power, to provide fuel cell power products and technology solutions in support of the planned deployment of approximately 300 fuel cell-powered buses in the cities of Foshan and Yunfu, China. The deal has an estimated initial value of $17M through 2016, with the opportunity for "significant" recurring royalties starting in 2017, the company said. The agreement includes supply and sale of fully-assembled fuel cell power modules, ready-to-assemble module kits, a technology license for localization of assembly, supply of proprietary fuel cell stacks and long-term recurring royalties leveraged to unit volumes of locally assembled modules. "This deployment in Foshan will serve as a major competitive advantage for Ballard and our local partners as we seek to bring additional Chinese cities onboard. China's new energy program involves 48 cities that are focused on addressing severe air quality issues, in part through expansion of public transit, with 1,000 clean energy buses to be deployed in each participating city," remarked Ballard CEO Randy MacEwen. The announcement is in addition to Ballard's June announcement regarding the signing of license and supply agreements with Synergy as well as with Nantong Zehe New Energy.
September 24, 2015
08:11 EDTBLDPBallard Power to launch complementary fuel cell power module configurations
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