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Ballard Power announces acquisition of Arcola Energy to help customers integrate fuel cell engines into heavy-duty mobility
Ballard Power announces acquisition of Arcola Energy to help customers integrate fuel cel...
About this update from Ballard Power Systems Inc.
[{"type":"text","content":"\n \n \n \n Ballard Power announces acquisition of Arcola Energy to help customers integrate fuel cell engines into heavy-duty mobility\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n LONDON\n \n and\n \n GLASGOW, Scotland\n \n ,\n \n Nov. 11, 2021\n \n /CNW/ - Ballard Power Systems (NASDAQ: BLDP)(TSX: BDLP), a world leader in the design and manufacturing of PEM fuel cell engines for medium- and heavy-duty vehicles, today announced the acquisition of Arcola Energy, a UK-based systems engineering company specializing in hydrogen fuel cell powertrain and vehicle systems integration. Ballard acquired 100% of\n \n Arcola\n \n for total upfront and earn-out cash and share consideration of up to\n \n US$40 million\n \n , based on the achievement of certain performance milestones.\n \n \n \n \n \n \n \n \n \n With more than 10 years of experience integrating Ballard fuel cell engines into powertrains and heavy-duty vehicles, including buses, refuse trucks and trains,\n \n Arcola\n \n currently has approximately 90 employees based in the UK.\n \n Arcola\n \n is one of the fastest-growing hydrogen companies in the UK, working with some of the most progressive local authorities, fleet operators and OEMs to meet their zero-emission targets.\n \n \n \"We continue to focus on simplifying the fuel cell electric vehicle (FCEV) experience and ease implementation friction points for OEM customers and end-users,\" said\n \n Randy MacEwen\n \n , Ballard's President and Chief Executive Officer. \"We are putting the customer at the heart of our strategy and investments. With the acquisition of\n \n Arcola\n \n , we will make it easier for existing and new OEM customers globally to offer FCEVs by providing stronger support for the integration of our fuel cell engines into their vehicle platforms, including powertrain integration, vehicle integration and application engineering.\"\n \n \n Dr.\n \n Ben Todd\n \n , Founder and CEO of\n \n Arcola\n \n , stated, \"The entire\n \n Arcola\n \n team is thrilled to combine our shar...