Ballard Power Systems, Daimler in fuel cell deal

AP News
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Posted: Dec 22, 2009 6:18 PM

Ballard Power Systems said Tuesday that it has reached a deal with German automaker Daimler AG to supply fuel cell products.

The company will provide technology for Daimler's fuel cell car and bus programs. The agreement provides a minimum of $24 million in revenue over 18 months beginning in April.

Shares of Ballard rose 38 cents, or 21 percent, to $2.19 in aftermarket trading. Company shares were down 7 cents to $1.81 in regular trading Tuesday.