Ballard Power +10% on deal with Azure Hydrogen

|About: Ballard Power Systems, Inc. (BLDP)|By:, SA News Editor

Ballard Power (BLDP) +10.3% premarket after announcing the signing an agreement with Azure Hydrogen relating to an assembly license for Telecom Backup Power systems for the China market, in a deal valued at ~$6M.

In addition to the payment for the assembly license, BLDP will be the exclusive supplier of subsystems and receive a royalty payment for each Telecom Backup Power system sold in China.

Also, PLUG and FCEL each are +2.8% premarket, extending yesterday's rally.