Ballard Power Systems (BLDP) Enters Definitive Agreement for Production of Fuel Cell Stacks in Guangdong, China
In a recent news release, Ballard Power Systems (NASDAQ: BLDP) announced its entry into definitive agreements with China’s Guangdong Nation Synergy Hydrogen Power Technology Co. Ltd. (“Synergy”) for the establishment of an FCvelocity®-9SSL fuel cell stack production operation in the City of Yunfu, which is located in Guangdong Province. The resulting fuel cell stacks will be packaged directly into locally-assembled fuel cell engines and integrated into zero-emission buses and commercial vehicles operating throughout China. Subject to closing, this transaction is expected to offer a minimum value of $168 million to Ballard over a period of five years. Ballard will receive…