This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ballard Sees Positive Developments In Clean Energy Fuel Cell Material Handling Market

VANCOUVER, May 8, 2013 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP)(TSX: BLD) congratulates Plug Power on its recent announcement of a strategic investment from Air Liquide. Plug Power is the leader in providing fuel cell systems in material handling applications with their flagship product GenDrive TM, each powered by a Ballard fuel cell stack. Plug Power customers in grocery, retail, warehousing and manufacturing operations are recognizing productivity and environmental benefits available from fuel cell-powered material handling equipment, and are driving growth in the market.

The direct investment in Plug Power by Air Liquide, one of the leading industrial hydrogen fuelling solution companies, reflects a major commitment to the fuel cell material handling market. As such, it represents a positive and important development. Air Liquide's investment in Plug Power is one of a number of strategic investments in the fuel cell sector announced recently, including Cummins Inc.'s investment in Relion and Anglo American Platinum's investment in Ballard Power Systems.

In the material handling market, an increasing number of companies are re-ordering Plug Power GenDrive TM systems after experiencing financial savings from initial system deployments. For example, Walmart Canada deployed 95 fuel cell lift trucks at its sustainable refrigerated distribution centre in Alberta, Canada, reducing operating costs by $1.1 million over seven years, compared to the use of battery-powered forklift trucks. Walmart now has more than 500 fuel cell forklifts operating in three warehouses, including a freezer facility. Other Plug Power customers with GenDrive TM systems at multiple sites include: Procter & Gamble with 340 systems at 4 sites; Sysco with more than 600 systems at 7 sites; and Coca-Cola with 96 systems at 2 sties.

Plug Power is the leading hydrogen fuel cell supplier for material handling operations in North America, with over 90 percent market share. Ballard Power Systems is the exclusive supplier of liquid- and air-cooled fuel cell stacks for Plug Power's suite of GenDrive TM power units serving the full range of Class 1, 2 and 3 electric forklifts.

Zero-emission fuel cell-powered lift trucks deliver economic, operational as well as environmental benefits, when compared to traditional battery systems operating in high-throughput distribution centre and warehouse environments. Advantages are a direct result of increased forklift productivity, driven by factors that include availability of constant power and minimal hydrogen refuelling time.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,131.86 +47.37 0.28%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,838.6430 +8.1730 0.17%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs