Ballard Announces Acquisition of Protonex

Ballard Power Systems (NASDAQ: BLDP; TSX: BLD) today announced that it has signed a definitive agreement to acquire Protonex Technology Corporation ("Protonex"; www.protonex.com), a leading designer and manufacturer of advanced power management products and portable fuel cell solutions. As consideration for the transaction, valued at $30 million, Ballard is assuming and paying Protonex's debt obligations at closing, currently estimated at approximately $4.4 million, and paying the balance of approximately $25.6 million through the issuance of 11.2 million Ballard shares. The number of Ballard shares to be issued is subject to adjustment based on the final debt obligations at closing.

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Energy Storage & Grids - Featured Product

Trojan Battery Company

Trojan Battery Company

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