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Ballard Power Systems (TSX: BLD, NASDAQ: BLDP), located in Burnaby, British Columbia -- a suburb of Vancouver -- is a company that designs, develops, and manufactures zero emission proton-exchange-membrane fuel cells. Ballard Power Systems was originally founded as Ballard Research by Dr. Geoffrey Ballard. The company went public in 1993 on the Toronto Exchange, and in 1995, listed on NASDAQ.[2] Some of the work performed by Ballard has included commercialization of:
Ballard Power Systems's main objective is to develop fuel-cell technology. Previously, Ballard had its focus within the automobile market, and fleet services, as well as co-generation systems and the manfactur of materials for the fuel-cell sector. However, in late 2007, Ballard pulled out of the Hydrogen vehicle sector of its business to focus on fuel cells for forklifts and stationary electrical generation. Research Capital analyst Jon Hykawy concluded that Ballard saw the industry going nowhere and said: "In my view, the hydrogen car was never alive. The problem was never could you build a fuel cell that would consume hydrogen, produce electricity, and fit in a car. The problem was always, can you make hydrogen fuel at a price point that makes any sense to anybody. And the answer to that to date has been no."[3] Ballard is a member of the British Columbia Technology Industry Association.
[edit] CompetitorsAlthough Ballard Power Systems is one of the larger companies developing fuel cell technology, its chief competitors include:
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