Burnaby's Ballard Power Systems (TSX:BLD) has won $6.2 million in project funding from the U.S. Department of Energy aimed at improving fuel cell durability and costs.
Ballard's U.S. subsidiary, Ballard Material Products, will be the prime contractor for a $4.1-million project looking at fuel cell improvements and sub-contractor for several other fuel cell projects funded by the Department of Energy.
Both projects are aimed at progressing fuel cell technology closer to large scale commercialization.
Among Ballard's partners for the fuel cell projects are the Los Alamos National Laboratory, the Lawrence Berkeley National Laboratory, Sandia National Laboratory, Georgia Institute of Technology, Michigan Technical University, the University of Hawaii in Manoa and the University of New Mexico.
Ballard's share price range during the past week: between $2.36 and $2.40; 52-week high: $3.45; 52-week low: $1.10.