The Globe and Mail reports in its Wednesday edition that Ballard Power Systems shares surged to their highest level in nearly 19 years after the hydrogen-fuel-cell maker signed a train deal in Scotland, the latest sign of industry momentum for alternative energy.
The Globe's Brent Jang writes that Ballard said on Tuesday it will supply fuel cell modules for the demonstration project to test a retrofitted passenger train in Scotland.
The hydrogen-powered train will be unveiled in November at the United Nations climate conference in Glasgow. Ballard of Burnaby, B.C., and British-based Arcola Energy are part of a consortium that will showcase the converted ScotRail electric train at the UN's 26th Conference of the Parties, also known as COP26.
Separately on Tuesday, Plug Power of Latham, N.Y., announced a new joint venture with Groupe Renault to provide hydrogen fuel cells to the French automaker.
Industry analysts say a series of recent announcements in the hydrogen sector contributed to Tuesday's rally in the stock prices of Ballard, Plug Power and FuelCell Energy. On the Toronto Stock Exchange, Ballard shares climbed $6.64, or 18 per cent, to close at $43.59, hitting their highest level since April, 2002.
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