After spiking on a recent $80-million deal with Volkswagen, Ballard Power(TSX:BLD, Nasdaq, BLDP) is finding its fuel cell expertise is in demand for a range of applications.
The company today announced it will provide expertise in proton exchange membrane (PEM) fuel cell technology to Ardica Technologies and the other to “an unnamed global automotive OEM”.
The Ardica deal expands Ballard’s know-how into a new area. The goal is to create a wearable fuel cell power system that will be used by soldiers. The company says its solution is lighter and would provide better performance than the current lithium-ion batteries soldiers currently use to power the devices they need for mission-specific equipment.
“These latest contracts are indicative of the growing interest we are seeing in fuel cell development programs,” said Ballard’s VP Technology Solutions, Dr. Kevin Colbow. “In addition to the automotive sector, exciting opportunities are also emerging in aerospace, railway and military application areas. For all these, Ballard is uniquely positioned to help customers by means of compelling bundled technology solutions that leverage our deep expertise and also offer the potential for component supply in the longer term.”
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San Francisco-based Ardica specializes in devices and wearables designed for off-the-grid use. The company’s line of products includes hydrogen fuel cartridges and heated jackets and vests.
At press time, shares of Ballard Power were up 13.4% to $3.46.