Ballard waves goodbye to fuel cell unit
There’s a bit of spring cleaning over at Ballard Power Systems - the company is doing the enteprise equivalent of taking its old clothes down the charity shop and flogging off its fuel cell division to Daimler and Ford.The deal was approved by 97.8 percent of its shareholders and the deal will close on the 31st January.
“This transaction lowers Ballard’s risk profile by addressing the realities of the high cost and long timeline for automotive fuel cell commercialization,” said John Sheridan, Ballard’s President and CEO. “It enables us to concentrate on growth in fuel cell applications which provide clean energy solutions in commercial markets such as materials handling, backup power and residential cogeneration.”
