Investments in Hydrogen and Fuel Cell technology is growing around the world! Here is a company considered a leader in that market!

 

Business and Investment Report on Doosan Fuel Cell

1. Executive Summary

Doosan Fuel Cell is a leading South Korean company specializing in the development and manufacturing of fuel cell systems for stationary power applications. As the global energy landscape shifts towards cleaner and more sustainable sources, Doosan Fuel Cell stands at the forefront of providing high-efficiency, low-emission energy solutions. This report provides a comprehensive analysis of the company's technology, financial performance, future prospects, partnerships, competitors, and current contracts and clients.

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2. Company Overview

Doosan Fuel Cell Co., Ltd. is a subsidiary of the Doosan Group, one of South Korea's largest conglomerates with diversified interests in engineering, construction, and energy. Established to spearhead the group's initiatives in the renewable energy sector, Doosan Fuel Cell focuses on producing fuel cell systems that cater to the growing demand for distributed power generation solutions.

Mission and Vision

• Mission: To deliver clean, efficient, and reliable energy solutions through advanced fuel cell technology.
• Vision: To become a global leader in the fuel cell industry by driving innovation and expanding the adoption of sustainable energy solutions.

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3. Technology

Phosphoric Acid Fuel Cells (PAFC)

Doosan Fuel Cell specializes in Phosphoric Acid Fuel Cells (PAFC), a mature and reliable fuel cell technology suitable for stationary power generation.

Key Features:

• High Efficiency: PAFCs offer electrical efficiencies of around 40-45%, with overall efficiencies reaching up to 85% when waste heat is utilized.
• Fuel Flexibility: Capable of operating on various fuels, including natural gas and biogas.
• Low Emissions: Minimal emissions of pollutants such as NOx, SOx, and particulates.
• Reliability: Proven technology with thousands of operational hours in various installations.

Product Portfolio

• Doosan PureCell® Model 400:
  • Output: 440 kW of electricity and up to 1.7 million BTUs/hour of usable heat.
  • Applications: Ideal for commercial buildings, hospitals, universities, and utility grid support.
  • Benefits: Reduces energy costs, enhances energy security, and lowers carbon footprint.

Research and Development

Doosan Fuel Cell invests significantly in R&D to enhance fuel cell performance, reduce costs, and develop next-generation technologies such as Solid Oxide Fuel Cells (SOFC).

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4. Financial Performance

Revenue and Profitability

As of the latest financial reports up to 2023:

• Revenue Growth: The company has shown consistent revenue growth, driven by increased demand domestically and internationally.
• Operating Margins: Improvement in operating efficiencies has led to better margins, though the industry remains capital-intensive.
• Net Income: Positive net income reflecting successful cost management and increased sales.

Financial Highlights

• Balance Sheet Strength: Strong equity position with manageable debt levels.
• Cash Flow: Positive operating cash flow, enabling reinvestment in growth opportunities and R&D.
• Investor Confidence: Steady stock performance and favorable analyst outlooks.

Note: Specific financial figures are omitted due to variability and the need for up-to-date data beyond the knowledge cutoff.

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5. Prospects and Growth Opportunities

Market Drivers

• Global Shift to Renewable Energy: Increasing emphasis on reducing greenhouse gas emissions boosts demand for clean energy technologies like fuel cells.
• Hydrogen Economy Development: Government initiatives in South Korea and globally to develop hydrogen infrastructure support fuel cell adoption.
• Energy Security Needs: Decentralized power generation offers reliability and resilience against grid disruptions.

Strategic Initiatives

• Expansion into New Markets: Targeting regions with supportive policies for clean energy, such as Europe, North America, and parts of Asia.
• Product Innovation: Developing smaller-scale fuel cell systems and exploring applications in residential sectors.
• Cost Reduction Efforts: Streamlining manufacturing processes to reduce system costs and enhance competitiveness.

Government Support

• Subsidies and Incentives: Benefiting from government programs aimed at promoting renewable energy technologies.
• Regulatory Frameworks: Compliance with environmental regulations positions Doosan Fuel Cell favorably in the market.

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6. Partnerships and Collaborations

Key Partnerships

• Korea Hydro & Nuclear Power (KHNP): Collaboration on fuel cell projects to enhance energy diversity.
• Local Governments: Agreements with municipalities for installing fuel cell systems in public facilities.
• International Alliances: Partnerships with overseas companies to access new markets and share technological expertise.

Research Collaborations

• Universities and Institutes: Joint research programs to advance fuel cell technology and develop innovative solutions.
• Industry Consortia: Participation in industry groups to promote standardization and address common challenges.

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Note: HDRO (ETF) includes Doosan and competitors!

7. Competitors

Primary Competitors

• Bloom Energy (USA):
  • Specializes in Solid Oxide Fuel Cells (SOFC) for stationary power generation.
• FuelCell Energy (USA):
  • Focuses on Molten Carbonate Fuel Cells (MCFC) for large-scale power plants.
• Ballard Power Systems (Canada):
  • Develops Proton Exchange Membrane (PEM) fuel cells, primarily for transportation but also stationary applications.
• Plug Power (USA):
  • Concentrates on PEM fuel cells for material handling equipment and backup power.

Editor note: 

We are taking a position in the Hydrogen ETF, $HDRO which lists Doosan at the top of their portfolio and includes all of the competitors listed here!

Competitive Advantages of Doosan Fuel Cell

• Technological Expertise: Extensive experience with PAFC technology suitable for various applications.
• Market Positioning: Strong presence in Asia with growing international recognition.
• Integrated Solutions: Ability to offer turnkey solutions, including installation, maintenance, and after-sales support.

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8. Contracts and Clients

Notable Contracts

• Seoul Metropolitan Government:
  • Installation of fuel cell power plants to supply electricity and heat to residential and commercial areas.
• Industrial Clients:
  • Agreements with manufacturing facilities for on-site power generation to reduce energy costs and emissions.
• Export Deals:
  • Supplying fuel cell systems to international clients in countries such as China and Japan.

Client Portfolio

• Commercial Buildings: Hotels, hospitals, and office complexes utilizing fuel cells for reliable power and heating.
• Utilities: Collaborations with utility companies for grid support and peak shaving applications.
• Public Institutions: Schools and universities implementing fuel cells as part of sustainability initiatives.

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9. Conclusion

Doosan Fuel Cell is strategically positioned to capitalize on the growing demand for clean and efficient energy solutions. With its advanced PAFC technology, strong financial foundation, and supportive government policies, the company presents a compelling opportunity for investors interested in the renewable energy sector.

Investment Considerations

• Strengths:

  • Established technology with proven performance.
  • Growing market demand for sustainable energy solutions.
  • Strategic partnerships enhancing market reach and innovation.

• Risks:

  • Competition from other fuel cell technologies and renewable energy sources.
  • Dependence on government subsidies and incentives.
  • Capital-intensive nature of the industry requiring continuous investment.

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Appendices

Appendix A: Company Milestones

• 2014: Doosan Group acquires Fuel Cell Power division from UTC Power.
• 2016: Launches the Doosan PureCell® Model 400 in the market.
• 2019: Signs significant contracts for large-scale fuel cell power plants in South Korea.
• 2021-2023: Expands into international markets and strengthens R&D efforts.

Appendix B: Industry Outlook

• Global Fuel Cell Market Growth: Expected CAGR of over 20% in the next five years.
• Hydrogen Infrastructure Development: Key to accelerating fuel cell adoption.
• Technological Advancements: Ongoing improvements in efficiency and cost reduction.

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Disclaimer: This report is based on information available up to October 2023. Investors are advised to conduct their own due diligence and consult financial advisors before making investment decisions.

Editor note: 

We are taking a position in the Hydrogen ETF, $HDRO which lists Doosan at the top of their portfolio and includes all of the competitors listed here!

Ballard Power to lease space to Daimler for Fuel Cell vehicle development!

Ballard Completes Optimization of Production Space and Commences Sub-Lease with Daimler

 Aug , 2011 by CNW Group

 Ballard Power Systems (TSX: BLD) (NASDAQ: BLDP) confirmed today that it has completed consolidation and optimization of product development and production space in its specialized fuel cell manufacturing facilities located in Burnaby, British Columbia. Ballard has also commenced the previously announced sub-lease of space, representing approximately 38% of the facility, to Daimler AG (Daimler) for use in manufacturing fuel cells for its fuel cell car programs.

Surplus space was created as a result of Ballard's progress over the past several years in implementing automated and continuous manufacturing processes for the Company's fuel cell products. A key driver in this context has been the introduction of continuous lamination equipment, which cuts and assembles components of Ballard's proprietary technology, resulting in a 10-fold increase in production while using about 10% of the physical floor space previously required.

Paul Cass, Ballard's Vice-President of Operations said, "We completed this work on-time, which also enabled the sub-lease of space to Daimler to proceed as scheduled. With the evolution of automated and continuous manufacturing we will be able to produce one-hundred megawatts of fuel cell product annually in this smaller footprint, seeing us through 2013 with no further investment in manufacturing capacity."
With the Daimler sub-lease, Ballard expects annual savings of approximately $1 million in real estate and related overhead costs. This lower cost manufacturing model is a further enabler on the Company's path to profitability.

Ballard will continue supplying its FCvelocity(TM )products for Daimler's fuel cell car and bus programs until the end of the current supply agreement. In addition, Ballard will continue supplying Automotive Fuel Cell Cooperation (AFCC), a private company majority-owned by Daimler, with contract manufacturing and technical engineering services.

About Ballard Power Systems Ballard Power Systems (TSX: BLD) (NASDAQ: BLDP) provides clean energy fuel cell products enabling optimized power systems for a range of applications. Products are based on proprietary esenciaTM technology, ensuring incomparable performance, durability and versatility. To learn more about Ballard, please visit www.ballard.com.

This release contains forward-looking statements, including anticipated manufacturing capacity, cost savings and operational plans, which are provided to enable external stakeholders to understand Ballard's expectationsas at the date of this release and may not be appropriate for other purposes. These forward-looking statements are based on the beliefs and assumptions of Ballard's management and reflect Ballard's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such assumptions relate to Ballard's financial forecasts and expectations regarding its product development efforts, manufacturing capacity, and market demand, and include matters such as generating new sales, producing, delivering and selling the expected number of units, and controlling its costs.

These statements involve risks and uncertainties that may cause Ballard's actual results to be materially different, including, without limitation, the condition of the global economy, the rate of mass adoption of its products, product development delays, changing environmental regulations, its ability to attract and retain business partners and customers, its access to funding, increased competition, its ability to protect its intellectual property, changes in its customers' requirements, foreign exchange impacts on its net monetary assets and its ability to provide the capital required for product development, operations and marketing. For a detailed discussion of these risk factors and other risk factors that could affect Ballard's future performance, please refer to Ballard's most recent Annual Information Form.

Readers should not place undue reliance on Ballard's forward-looking statements and Ballard assumes no obligation to update or release any revisions to these forward looking statements, other than as required under applicable legislation.

Further Information Public Relations: Guy McAree, +1.604.412.7919,media@ballard.com Investor Relations: Lori Rozali, +1.604.412.3195,investors@ballard.com
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/August2011/24/c6053.html
SOURCE: Ballard Power Systems Inc.

Public Relations: Guy McAree, +1.604.412.7919,media@ballard.com Investor Relations:
Lori Rozali, +1.604.412.3195,investors@ballard.com

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Ballard Power Announces Dantherm Power Agreement with Delta Power Solutions of India!

--  Collaboration agreement provides a managed approach to address
        telecom backup power market opportunity

Ballard Power Systems (TSX: BLD) (NASDAQ: BLDP) today announced that Dantherm Power, the backup power systems company in which it has a controlling interest, has signed a collaboration agreement with Delta Power Solutions (India) Pvt. Ltd. [Delta] to market clean energy fuel cell power solutions in the India telecommunications sector. Delta Power Solutions (India) is a subsidiary of Delta Electronics (Thailand) PLC, part of the Delta Group, the world's leading energy saving solutions provider.

Under the agreement, Dantherm Power and Delta will jointly work to deploy product field trials comprised of Dantherm Power's direct hydrogen 2-kilowatt (kW) DBX2000 fuel cell system as well as its 5kW DBX5000 fuel cell system, which will be integrated by Delta, along with its Site Management & Control System (SMCS), and deployed at telecom customer sites in India. Delta will take responsibility for installation, commissioning, maintenance and management of these field deployments. These sites will be remotely monitored by Delta's Network Operation Centre (NOC).

John Sheridan, CEO of Ballard and Chairman of Dantherm Power said, "This agreement represents an effective, managed approach to backup power market development in India. Delta will leverage its existing telecom industry relationships in order to identify interested customers, and Delta will provide on-the-ground support throughout the trial period. Onsite expertise and customer support is the key to gaining traction with solutions that are new to the market, such as fuel cells in the India telecom sector."

These field trials will enable an informed assessment of the commercial market opportunity, including identification of appropriate fuel cell solutions. Commercial deployments in India would then benefit from Delta's in-country marketing, sales, distribution and servicing capabilities.

Dalip Sharma, Managing Director of Delta Power Solutions said, "We are very pleased to be working with PEM fuel cell products from premier providers such as Dantherm Power and Ballard. This collaborative partnership has all the right elements for a successful evaluation of the market opportunity and for potentially large-scale product roll-out down the road."

Delta Power Solutions serves many of the largest service and infrastructure providers in the Indian telecom industry, including Indus, Bharti, Vodafone, Reliance and Idea Cellular.

About Ballard Power Systems Ballard Power Systems (TSX: BLD) (NASDAQ: BLDP) provides clean energy fuel cell products enabling optimized power systems for a range of applications. Products are based on proprietary esenciaTM technology, ensuring incomparable performance, durability and versatility. To learn more about Ballard, please visit www.ballard.com.

About Delta Group Delta Group is the world's leading provider of power management and thermal management solutions, as well as a major source for components, visual displays, industrial automation, networking products and renewable energy solutions. Delta Group has sales offices worldwide and manufacturing plants in Taiwan, China, Thailand, Japan, Mexico, India, Brazil and Europe. As a global leader in power electronics, Delta's mission is "To provide innovative, clean and efficient energy solutions for a better tomorrow." Delta is committed to environmental protection and has implemented green, lead-free production and recycling and waste management programs for many years. More information about Delta Group can be found at www.deltaww.com.

About Delta Power Solutions (India) Delta Power Solutions (India), is a 100% subsidiary of Delta Electronics (Thailand) PLC, part of the Delta Group, a leading multinational with headquarters in Taiwan with 6.6 billion USD revenue for 2010. Delta Power Solutions (India) is a world-class provider of power management solutions in the areas of telecom power supplies, uninterrupted power supply, industrial automation, components, Renewable Energy and display solutions. The group has been operating in India since 1992. The company is responsible for developing business in the SAARC region and is also recognized as the "Centre for Technical Excellence" for the SAARC region. The company has an impressive installation base with regional support centers all over India and the SAARC region. Delta has been awarded ISO 9001:2000, ISO 14001:2004 and OHSAS 18001:1999 certifications by Underwriters' Laboratories, USA, for Quality, Procedures, and Environment management.

This release contains forward-looking statements, including anticipated market development and product cost reductions, which are provided to enable external stakeholders to understand Ballard's expectationsas at the date of this release and may not be appropriate for other purposes. These forward-looking statements are based on the beliefs and assumptions of Ballard's management and reflect Ballard's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such assumptions relate to Ballard's financial forecasts and expectations regarding its product development efforts, manufacturing capacity, and market demand, and include matters such as generating new sales, producing, delivering and selling the expected number of units, and controlling its costs.

These statements involve risks and uncertainties that may cause Ballard's actual results to be materially different, including, without limitation, the condition of the global economy, the rate of mass adoption of its products, product development delays, changing environmental regulations, its ability to attract and retain business partners and customers, its access to funding, increased competition, its ability to protect its intellectual property, changes in its customers' requirements, foreign exchange impacts on its net monetary assets and its ability to provide the capital required for product development, operations and marketing. For a detailed discussion of these risk factors and other risk factors that could affect Ballard's future performance, please refer to Ballard's most recent Annual Information Form.

Readers should not place undue reliance on Ballard's forward-looking statements and Ballard assumes no obligation to update or release any revisions to these forward looking statements, other than as required under applicable legislation.

Further Information Media: Guy McAree, +1.604.412.7919,media@ballard.com Investor Relations: Lori Rozali, +1.604.412.3195,investors@ballard.com
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/July2011/27/c7872.html
SOURCE: Ballard Power Systems Inc.

Media: Guy McAree, +1.604.412.7919,media@ballard.com Investor Relations: Lori Rozali,
+1.604.412.3195,investors@ballard.com

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More: Toronto Globe and Mail, Aug 3rd:

Ballard Power Systems (BLD-T) announced its consolidated second-quarter financial results. In its 2011 business outlook, Ballard confirmed its full-year guidance for revenue growth in excess of 30 per cent. “As previously noted, the company expects revenue to be weighted toward second half of the year, with growth driven by accelerating momentum in all four fuel cell product markets, particularly bus,” it said. Ballard also confirmed its full-year guidance for adjusted EBITDA improvement in excess of 40 per cent. “This improvement trajectory is expected to be supported by the revenue growth outlined above, a shift in mix toward higher margin products and continuing reductions in both product costs and cash operating cost base.”

Ballard Power Systems making inroads in Germany as Germans avoid nuclear power.

Image via Wikipedia

Ballard Fuel Cell Products Provide Backup Power Solution for German City Council Headquarters5:30PM ET on Thursday Jun  2011 by CNW Group

--  Reaffirms benefits of clean fuel cell energy for
        uninterruptible power supply

Ballard Power Systems (TSX: BLD) (NASDAQ: BLDP) announced that its FCgen(®)-1020ACS fuel cell stack is the power source for a ten kilowatt (kW) backup power system deployed by Heliocentris Energy Solutions AG, specialist in environmentally-friendly energy storage solutions. A total of eight 1.2 kW Heliocentris Nexa 1200 fuel cell systems - using Ballard stacks - provide extended duration backup power to critical information technology services at the City Council headquarters of Meiningen, Germany.

The direct hydrogen system is hybridized together with lithium-ion batteries and deployed for indoor use. This replaces an uninterruptible power supply system using lead-acid batteries, which has proven insufficient for long power outages. This installation is the latest in a series of field trials demonstrating capabilities of the Heliocentris solution to industrial customers having requirements that include remote monitoring stations, emergency power supplies and auxiliary power units. Heliocentris also designs fuel cell training systems for the educational market.

Backup power solutions based on fuel cell technology deliver a number of advantages over conventional batteries and diesel generators, including higher reliability across a wide range of operating conditions, lower maintenance costs, longer operating life as well as reduced size, weight, installation footprint, noise signature and environmental impact. Ballard's FCgen(®)-1020ACS fuel cell stack enables all of these advantages with its compact and cost-effective air-cooled design.

The trial in Meiningen is being supported by the German Federal Ministry of Transport, Building and Urban Development as part of the National Hydrogen and Fuel Cell Technology Innovation Programme (NIP). NOW GmbH National Organisation for Hydrogen and Fuel Cell Technology is in charge of coordinating the NIP.

About Ballard Power Systems Ballard Power Systems (TSX: BLD) (NASDAQ: BLDP) provides clean energy fuel cell products enabling optimized power systems for a range of applications. Products contain proprietary esenciaTM technology, ensuring incomparable performance, durability and versatility. To learn more about Ballard, please visit www.ballard.com.

Further Information Public Relations: Guy McAree, +1.604.412.7919, media@ballard.com Investor Relations: Lori Rozali, +1.604.412.3195, investors@ballard.com
 
SOURCE: Ballard Power Systems Inc.

Public Relations: Guy McAree, +1.604.412.7919,media@ballard.com Investor Relations:
Lori Rozali, +1.604.412.3195,investors@ballard.com

Recent Articles:

Ballard Power Systems gains strong partner in Daimler ...

Jun 10, 2011

Daimler announced this week a partnership in the development of fuel cell technology which includes the grandaddy of that industry, Ballard Power Systems of Burnaby, British Columbia. Ballard (BLD-T)(BLDP-OTC) has, ...

Ballard Power Systems is on a roll (excuse the pun)

Jan 22, 2010

We have been high on Ballard Power Systems for awhile now. Today Ballard was added to the new, clean Tech Index on the TSX, and the spike in the stock price (and the high trading volume) is a direct result of that. ...

RETIRE FUND: Worlds largest fuel cell generation system being ...

Jul 30, 2010

Ballard Power Systems (TSX: BLD; NASDAQ: BLDP) today announced the successful completion, during second quarter, of factory testing of a utility-scale distributed generation system using the company's proton exchange ...

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Ballard Customers 2011:

Customers

More than 100-megawatts (100 MW) of Ballard fuel cell stacks, modules & systems have powered clean energy solutions for customers in a variety of countries on five continents. A few examples follow -

Backup Power
	Dantherm Power is Ballard’s direct channel into the rapidly expanding wireless telecom backup power market, deploying 2kW and 5kW direct hydrogen DBX systems in mission-critical applications for such customers as Wind Mobile. Read more...
	IdaTech integrates Ballard fuel cells into its methanol-based ElectraGen™ ME systems for backup power applications with such customers as Hutchison Telecom.  Read more...

Distributed Generation
		Deployment of a Ballard 1MW CLEARgen™ system will enable Toyota to satisfy peak power needs at their office complex in Torrance, CA. The system will be fuelled by hydrogen produced from steam-reformation of renewable bio-gas generated at a landfill.  Read more...
		A Ballard CLEARgen™ system will convert by-product hydrogen from bleach production into clean load-following electricity at a K2 Pure Solutions plant in Pittsburg, CA.  Read more...
		FirstEnergy Corp. and Ballard are testing a 1MW CLEARgen™ system – designed to produce enough electricity to power more than 600 homes.  Read more...

Material Handling
		Plug Power has deployed over 1,200 GenDriveTM systems, exclusively using Ballard fuel cell stacks, with such customers as WalMart, Sysco, BMW, Coca-Cola, Central Grocers, FedEx and Wegmans Read more...

Bus
	BAE Systems is a pioneer in the development and deployment of hybrid drive propulsion systems for diesel hybrid transit buses. Leveraging its extensive knowledge of hybrid drives, BAE Systems has integrated Ballard fuel cell modules for operation in buses with such customers as Sunline Transit Agency.  Read more...
	TuttoTrasporti is the largest Brazilian integrator of hybrid transit buses … and, a TUTTO hybrid system incorporating Ballard fuel cell modules is currently operating in Sao Paulo under a UNDP/EMTU program.  Read more...
	Van Hool is the 4th largest bus manufacturer in Europe, offering a complete range of buses for public transport in international markets … integration of Ballard fuel cell modules into Van Hool hybrid buses, for operation by the HyNor Oslo Buss group in the greater Oslo area, is in process now.  Read more...

Ballard fuel cells to power German auto giants new push!

Image via Wikipedia

Canadian Fuel Cells to Power German Autos2 hours ago by CNW Group

 Daimler has announced that it will outfit its hydrogen fleet with fuel cells produced in Canada. Global engagement in this industry is steadily increasing. In Germany, initiatives like the Clean Energy Partnership (CEP) already have the biggest automakers worldwide onboard.

Both Toyota and Honda recently joined the likes of BMW, Daimler, Volkswagen, GM and Ford in the CEP. Chemical companies involved in hydrogen production and other stakeholders are also involved. Germany Trade & Invest is holding an investor event on June 7 in Vancouver to highlight business opportunities for international companies in Germany's budding fuel cell industry, especially in the growth regions of eastern Germany.

"Germany's economy is booming and the fuel cell industry is on the verge of a major breakthrough. International companies and government initiatives have created the optimal conditions for companies to prosper, especially in Germany's high-tech eastern regions," said Dr. Juergen Friedrich, Chief Executive of Germany Trade & Invest in Berlin.

Daimler, in a joint venture with Ford and Ballard Power Systems, has created a subsidiary called the Automotive Fuel Cell Cooperation (AFCC). At its site in Burnaby near Vancouver, fuel cells for the B-Class F-CELL and the Citaro FuelCell Hybrid city bus will be made. Dr. Andreas Truckenbrodt, CEO of AFCC, along with Geoff Budd of Ballard Power Systems, will highlight the latest developments and business opportunities in Germany at the June 7 event. Alongside some of the auto industry's top players,

  Germany has simultaneously created an excellent framework for investors with generous public programs to support the further development and implementation of fuel cell technology. Funding of EUR 700 million has been made available so far - the biggest program of its kind in Europe. Last month the federal government announced a further EUR 200 million for research in storage technologies including fuel cells.

Germany already features over 300 companies and 65 research institutes specializing in fuel cell technology as well as 70 percent of Europe's fuel cell fleet. Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities in the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/June2011/06/c9652.html
SOURCE: Germany Trade and Invest
SOURCE: Auto News

Germany Trade & Invest Andreas Bilfinger Email:andreas.bilfinger@gtai.com T:
+49(0)30-200099-173 F: +49(0)30-200099-111

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Ballard Power Systems gaining traction in Brazil with Fuel Cell Bus program!

Image by LHOON via FlickrBallard Gaining Traction in South American Fuel Cell Bus Market With Integrator Tuttotrasporti

 VANCOUVER, Jan 2011 /PRNewswire via COMTEX/ --Ballard Power Systems (TSX: BLD; NASDAQ: BLDP) today announced a contract to supply three fuel cell power modules to Tuttotrasporti (http://www.tuttotrasporti.com.br/; TUTTO), the largest Brazilian integrator of hybrid transit buses.

Ballard's fuel cell modules are intended for use in zero-emission buses operated by transit agencies in Brazil. 

"This contract is a further indicator of growing demand for clean fuel cell-powered buses," said Michael Goldstein, Ballard's Chief Commercial Officer. "Brazil has 350,000 transit buses in operation today and is the third largest bus manufacturer globally. We are very pleased to extend our partnership with a leading integrator in TUTTO, operating in the important South American market."

Ballard Power selected for U.S. hydrogen bus program.

Image via Wikipedia1. Ballard Selected by U.S. FTA to Power Four Buses under the National Fuel Cell Bus Program
 2. Ballard to work with 4 system integrators on reduced-cost bus configurations