Ballard Power Gets Purchase Order for Fuel-Cell Modules

Ballard Power rises after it received a purchase order from Arcola Energy for its fuel-cell modules.
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Ballard Power Systems  (BLDP) - Get Report rose Tuesday after the company received a purchase order from Arcola Energy for its Ballard FC move-HD fuel-cell modules to power a passenger train planned for demonstration in November.

Shares of the Canadian company were jumping 18% to $34.23 at last check.

Ballard also got a boost from Plug Power's  (PLUG) - Get Report announced 50-50 joint venture with French automaker Renault RNLSY that was focused on vehicle systems based on hydrogen fuel cells.

Scottish Enterprise, Transport Scotland and the Hydrogen Accelerator, based at the University of St. Andrews, named Arcola and a consortium of industry leaders in hydrogen fuel cell integration, rail engineering and functional safety to deliver Scotland's first hydrogen-powered train.

The consortium will convert a Class 314 car passenger train, made available by ScotRail, into a deployment-ready and certified platform for hydrogen-powered train development.

The Bo'ness and Kinneil Railway will provide engineering facilities and support for testing and public demonstrations, Ballard said.

The project is intended to contribute to Scotland's goal for net zero emissions by 2035.

"This project is an example of the growing global interest in fuel cells for the Medium- and Heavy-Duty Motive market, including rail applications, where heavy payload, long range and rapid refueling are key customer requirements," Ballard CEO Rob Campbell said in a statement.

Plug Power's joint venture with Renault will include creating a fuel-cell stack and system manufacturing center in France for integration into light commercial vehicle platforms.

Plug Power's GenDrive system integrates fuel cells manufactured by both Plug Power and Ballard Power Systems.