Ballard announces acquisition of UK-based Geopura
In Canada, Ballard Power Systems announced that it has entered into a definitive agreement to acquire GeoPura, a zero-emission hydrogen-based power solutions provider. The transaction consists of an upfront equity purchase price of $363 million.
Ballard noted that the transaction represents a transformative acquisition that establishes the firm as a vertically integrated and capitally efficient energy-as-a-service (EaaS) provider with end-to-end capabilities spanning hydrogen production, distribution, logistics, refueling, fuel cells, and high-performance stationary power solutions.
“By combining Ballard’s world-class fuel cell technology with GeoPura’s energy-as-a-service business model, we create a Company well-positioned to serve end-markets demanding secure, reliable, low noise, and emissions free power for their mission-critical applications,” said Marty Neese, President and Chief Executive Officer of Ballard.
Category: Hydrogen
