Canadian hydrogen fuel cell manufacturer Ballard Power Systems Inc. has completed the acquisition of British mobile power plant developer GeoPura Limited. This is reported in a press release from Ballard.
The value of the transaction is 275 million pounds ($371 million). GeoPura shareholders will receive 14.1% of Ballard shares and an additional 27.5 million pounds, subject to meeting certain financial targets upon completion of the transaction.
The deal will allow Ballard to move from supplying components to providing integrated hydrogen energy solutions by combining technologies with GeoPura's generating capacity, logistics and fuel production. Ballard fuel cells are already used in GeoPura systems.
Ballard's management expects that the deal will strengthen the company's position in the European market, open up new commercial opportunities in North America and ensure the long-term development of the company.
Ballard Power Systems is a Canadian developer of zero—emission hydrogen energy solutions. The company offers integrated solutions for the hydrogen ecosystem, stationary hydrogen power plants, and fuel cell engines for heavy vehicles. The headquarters is located in Burnaby, Canada.
GeoPura is a British company that manufactures and operates hydrogen power plants for autonomous power supply of facilities, charging stations for electric vehicles, data centers and the marine sector. The company also produces green hydrogen and has the largest transportation fleet. The headquarters is located in Nottingham (UK).
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