It appears that Ballard Power Systems (NASDAQ: BLDP) may have some momentum going into the regular session as it is up 12.22% in pre-market trade.
For traders and investors concentrating on technical inventory assessment, ATR is also a useful measurement, and that for Ballard Power at the moment is 2.57. During 52 weeks the highest price level is $42.28 while the lowest price is $6.95.
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Additionally, the recent announcement that the company’s fuel cell modules would be used in an electricity program that operates on hydrogen has been causing the stock’s recent rise.
Ballard Power’s mission is to deliver fuel cell power to ensure the sustainability of the planet. Ballard’s zero-emission PEM fuel cells are now available for buses, transportation by rail, ships, and forklift trucks, and even for commercial vehicles.
Ballard’s fuel cell modules will be employed by CP’s pioneering Hydrogen Locomotive Program, the company announced yesterday.
- A total of 1.2 megawatts of electricity will be provided by the modules to power the locomotive.
- CP is in plans of converting a previously diesel-powered locomotive to hydrogen fuel cells to create North America’s first hydrogen-powered line-haul freight locomotive.
- This will be done by retrofitting Ballard Power’s fuel cells on that locomotive.
- The locomotive’s electric traction motors will be powered by fuel cells and battery technology.
- CP will pilot and qualify the technology for freight-rail service once it has achieved operational capabilities.
- It is expected that Ballard will supply CP with six of its 200-kilowatt fuel cell modules by 2021.
- In order to allow integration of the modules into the locomotive, Ballard will provide support.