Upcoming AWS Coverage on Franklin Electric Co. Post-Earnings Results
LONDON, UK / ACCESSWIRE / May 1, 2017 / Active Wall St. blog coverage looks at the headline from Ballard Power Systems Inc. (NASDAQ: BLDP) as the Company announced on April 28, 2017, that it has signed a follow-on Technology Solutions contract with an unnamed global automotive OEM, further to the contract extension signed and announced on July 20, 2016. Ballard will continue to deliver services in the proton exchange membrane (PEM) fuel cell technology to advance the customer's membrane electrode assembly (MEA) development program related to future versions of the engines for fuel cell vehicles. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/
One of Ballard Power Systems' competitors within the Industrial Electrical Equipment space, Franklin Electric Co., Inc. (NASDAQ: FELE), reported Q1 2017 sales and earnings on April 27, 2017. AWS will be initiating a research report on Franklin Electric in the coming days.
Today, AWS is promoting its blog coverage on BLDP; touching on FELE. Get all of our free blog coverage and more by clicking on the link below:
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Breaking down the Agreement
This agreement is pursuant to a previously announced contract in fuel cell development programs. The Technology Solutions group under Ballard offered customers to solve difficult technical and business challenges in their PEM cell program. Ballard, being uniquely positioned to help customers by means of compelling bundled technology solutions, will help the automotive firm to leverage Ballard's expertise and industry-leading IP portfolio.
Ballard, through its customized, bundled technology solutions, deliver world-class specialized engineering services, access to the firm's deep Intellectual Property portfolio and know-how, and also the supply of technology components.
The follow-on contract signed on July 20, 2016, involved Ballard Technology Solutions working with this customer in 2014, including technology transfer. MEAs are a key component of each PEM fuel cell and the MEA-related work under this program was being undertaken by Ballard's engineers and test technicians in conjunction with the OEM's in-house fuel cell technical team.
MEA-PEM relation
Fuel cells are structured in the form of an MEA and two flow-field plates. Each MEA consists of two electrodes with a very thin layer of bonded catalyst to the either side of the Proton Exchange Membrane (PEM). Hydrogen flows through the channels in the flow-field plates to the anode. The platinum catalyst promotes the separation into protons and electrons.
Hence, the free electrons produced in the process at the anode are conducted in the form of usable electric current through the external circuit. At the cathode, oxygen from the air, electrons from the external circuit, and protons combine to produce water and heat. Additionally, to obtain the desired amount of electrical power, individual fuel cells are combined to form a fuel cell stack.
Ballard Growth Prospects
Ballard, being an innovative energy and technology solutions provider, has aimed to deliver unified solutions while expanding in the global market. It signed a landmark deal worth $17 million for the largest ever global deployment of fuel cell buses in China on September 25, 2015. Under the agreement, Ballard supplied new 30kW and 60kW power modules. Later, on February 14, 2017, Ballard opened its first corporate office headquartered in Guangzhou, the capital of Guangdong Province, China.
Recently, on April 06, 2017, the Company closed a transaction relating to technology transfer, licensing, and supply arrangements with strategic partner Zhongsan Broad-Ocean Motor Co., Ltd. Under the deal, Broad-Ocean manufactured fuel cell modules in three strategic regions of China, including Shanghai. With an estimated value of about $25 million, the Company received initial payments of $3.6 million.
Stock Performance
On Friday, April 28, 2017, the stock closed the trading session at $3.27, climbing 4.14% from its previous closing price of $3.14. A total volume of 3.59 million shares have exchanged hands, which was higher than the 3-month average volume of 1.37 million shares. Ballard Power Systems' stock price soared 46.64% in the last month, 70.31% in the past three months, and 47.96% in the previous six months. Moreover, the stock surged 98.18% since the start of the year. At Friday's closing price, the stock's net capitalization stands at $548.08 million.
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