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Ballard Power Systems Inc
Symbol BLDP
Shares Issued 279,697,591
Close 2020-12-15 C$ 24.64
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Globe says Ballard sees Ottawa start promoting hydrogen

2020-12-16 07:33 ET - In the News

The Globe and Mail reports in its Wednesday edition that a strong Canadian hydrogen sector will require between $5-billion and $7-billion in public and private investment over the next five years and will largely rely on hydrogen derived from the country's vast natural gas reserves, according to a new federal government strategy. The Globe's Emma Graney writes that the long-awaited Hydrogen Strategy for Canada sets the stage for the development of a robust domestic hydrogen market that Ottawa hopes could be worth $50-billion and create 350,000 jobs by 2050. Its success will hinge on billions in near-term investments to ensure Canada does not fall behind other nations also eyeing the low-carbon fuel, though the plan does not put a figure on how much the federal government is willing to throw at the sector. Instead, it says tax credits, subsidies and attracting international investment will help drive the hydrogen sector's development to 2050. Hydrogen is already in use in Alberta, where the oil industry uses it to help refine crude, hydrogen-powered trucks rumble between Edmonton and Calgary as part of a pilot project. Next door in British Columbia, Ballard Power Systems is one of Canada's clean technology stars.

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