Ballard Power Systems

Ballard Power Systems agreed to acquire UK-based GeoPura, a zero-emission hydrogen power solutions provider, for an upfront equity price of £275.0 million plus up to £27.5 million contingent consideration.

Ballard Power Systems received a fuel cell module order from Medha Servo Drives, which is developing India's first hydrogen-powered trains for Indian Railways. The two retrofitted commuter trains will use 8 units of 100 kW FCmove-HD+ modules, with service expected in 2024.

Weichai Power's subsidiary Weichai HK acquired 46.1 million common shares, about 19.9% of Ballard Power Systems, in exchange for an equity investment of about US$163.6 million, a China joint venture, and a $90 million technology transfer program.

Ballard Power Systems acquired strategic testing, prototype production and lab assets from Automotive Fuel Cell Cooperation, which Daimler and Ford are winding down in Vancouver. The equipment covers about 11,000 square feet and adds capacity at Ballard's existing Vancouver facilities.

Ballard Power Systems bought the remaining shares of its Danish subsidiary Ballard Power Systems Europe A/S, formerly Dantherm Power, from Dansk Industri Invest for a nominal value, giving it 100% ownership. The subsidiary is based in Hobro, Denmark.