Ballard Power's Product Gets Army's Nod, To Help Warfighter
Zacks Investment Research | Sep 26, 2017 09:33PM ET
Ballard Power Systems (NASDAQ:BLDP) and its subsidiary — Protonex Technology Corporation (Protonex) — recently announced that the U.S. Army Program Executive Office Soldier (PEO-Soldier) has received authorization for its Mobile Soldier Power Program of Record to a to full rate production status.
The new deal will enable the U.S. Army to deploy SPM-622 as part of the Mobile Soldier Power Program of Record going forward.
The SPM-622 is an agile power management device, to aid military forces manage and prioritize power. SPM-622 system will increase mobility and flexibility of the warfighter. The U.S. Department of Defense and Allied militaries have deployed more than 5,500 Protonex SPM Power Manager Kits through the limited production phase of the program.
Expansion through Fuel Cell Projects
Apart from expanding footprint with its subsidiary, Ballard Power is currently making significant progress in Fuel Cell Technology as well. In the month of September, it announced that it has accepted a Letter of Intent (LOI) from Van Hool NV to provide fuel cell engines to SMTU-PPP (Syndicat Mixte de Transports urbains – Pau Portes des Pyrénées) and the STAP (Société de Transport de l'Agglomération Paloise) in Pau, France. (Read more: Zacks Investment Research
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