Technology Stocks : Ballard Power -world leader zero-emission PEM fuel cells
BLDP 2.930+0.7%2:16 PM EDTNews

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FP/wire say Ballard soars on fuel cell breakthrough

Ballard Power Systems Inc (C:BLDP)
Shares Issued 175,169,055
Last Close 9/13/2017 $5.72
Thursday September 14 2017 - In the News

The Financial Post reports in its Thursday edition that Ballard Power Systems surged to a three-year high after announcing a technology breakthrough that replaces most of the high-cost platinum used in earlier design. A Bloomberg dispatch to the Post says that Ballard soared $1.19 to close Wednesday at $5.72 in Toronto. Nisshinbo Holdings Inc., which has been working with Ballard on the project since 2013, enjoyed an equally strong day in Tokyo. High-cost precious metals in fuel cells have hindered broader adoption of the technology and Ballard has been working to eliminate as much platinum as possible from its products. The non-precious-metal-catalyst design, to be offered by the end of this year, reduces the amount of platinum by more than 80 per cent, Kevin Colbow, vice-president of technology, said in a statement late Tuesday. "Since platinum contributes 10 percent to 15 percent of the cost of a fuel cell stack today, we are very excited about the potential cost savings," Mr. Colbow said in the statement. Fuel cells convert hydrogen into electricity through a chemical reaction that relies on a catalyst, often platinum. Ballard is reducing the amount of platinum and using a lower-cost carbon alloy material.
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