Ballard Power Systems (NASDAQ:BLDP) is a producer of proton exchange membranes (PEM) hydrogen fuel cells which it sells to telecom towers, forklifts and bus companies. The company has been listed since 1995 on the Nasdaq stock exchange. The company saw its stock price soar, after its listing as fuel cells for the automotive market became a big investing theme. However, fuel cell technology failed to meet its promise as it proved to be uneconomical. Ballard sold its automotive fuel cell business to Daimler and Ford in 2007 to concentrate on developing the cells for industrial applications. The company now sells fuel cells to Plug Power (PLUG) as well as bus companies and forklift operators.
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