Jun. 29, 2015, 7:53 AM
- Ballard Power (NASDAQ:BLDP) has agreed to acquire Protonex Technology, a manufacturer of advanced power management products and portable fuel cell solutions.
- As consideration for the transaction, valued at $30M, Ballard will pay Protonex's $4.4M in debt obligations, and pay the balance of approximately $25.6M through the issuance of 11.2M Ballard shares.
- In its last fiscal year, Protonex generated revenue of $13.8M with 40% gross margin and positive Adjusted EBITDA.
Ballard Power Systems, Inc. engages in the design, development, manufacture, sale and service of fuel cell products. It provides clean energy fuel cell products enabling optimized power systems for a range of applications. The company operates through single segment namely, Fuel Cell Products... More
Sector: Industrial Goods
Industry: Industrial Electrical Equipment
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