Ballard is strengthening its global systems integration capabilities for hydrogen-powered vehicles with the acquisition of UK-based Arcola Energy.
Formalising the deal on Thursday (Nov 12), Ballard said the purchase will both support its growth plan and deepen the company’s UK presence.
Randy MacEwen, President and CEO of Ballard, said, “We continue to focus on simplifying the fuel cell electric vehicle (FCEV) experience and ease implementation friction points for OEM customers and end-users. We are putting the customer at the heart of our strategy and investments.
“With the acquisition of Arcola, we will make it easier for existing and new OEM customers globally to offer FCEVs by providing stronger support for the integration of our fuel cell engines into their vehicle platforms, including powertrain integration, vehicle integration and application engineering.”
According to a statement, Ballard acquired 100% of Arcola for a total upfront and earn-out cash and share consideration of up to $40m, based on the achievement of certain performance milestones.
Dr. Ben Todd, founder and CEO of Arcola, added, “The entire Arcola team is thrilled to combine our shared passion for decarbonising mobility and our unique expertise in fuel cell powertrain integration with Ballard’s world leading PEM fuel cell technology and market position in heavy-duty mobility.
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“Together, we will improve and optimise FCEV powertrain and vehicle performance, lower lifecycle costs and simplify powertrain and vehicle systems integration and service for customers.”