Ballard Power Systems (NASDQ: BLRD)

Ballard to Receive DOE Funding to Advance Non-Automotive Fuel Cell Commercialization

-  $6.2 million in funding to Ballard for fuel cell research and
       development projects
    -  Ballard will collaborate with leading U.S. technology partners
    -  Projects will focus on fuel cell durability and cost to enable
       widespread commercialization of fuel cells for diverse applications

VANCOUVER, March 8 /CNW/ - Ballard Power Systems (TSX: BLD; NASDAQ: BLDP) announced today that it has $6.2 million in project funding from the U.S. Department of Energy (DOE) under contract over a four year period. Ballard Material Products, a U.S. subsidiary of Ballard Power Systems, was awarded $4.1 million as prime for a contract that will focus on improvements in fuel cell durability and cost. Additionally, Ballard will be sub-contractor to leading U.S. technology organizations for several other fuel cell research and development projects funded by the DOE.

I remember the year that I got my first big project manager's job, with a huge EPC institution that had been a pillar in building Canada.  Ballard was rising to fame and peaked fairly shortly thereafter at $129/shr.  The mobile fuel cell technology has been much more of a difficult path than many originally thought.  The technology continues in various stages of research and testing across North America.  And 20 years later, the ball is still rolling, Ballard is still in the business, and was in the news today with a multi-million dollar grant from the Federal Government.  Is this the critical piece that will give the next thrust in technology advancement?  Only time will tell for sure.