Ballard Power Systems

Ballard Power Systems Inc. specializes in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers a diverse range of solutions, including heavy-duty fuel cell modules, backup power systems, and products for material handling and unmanned aerial vehicles (UAVs). Ballard operates in three primary segments: Power Generation, which focuses on backup power and residential cogeneration; Automotive, providing fuel-cell solutions for vehicles; and Material Products, which includes carbon fiber and gas diffusion layers for fuel cells. The company's markets span various sectors, including transit buses, automotive, rail, and critical infrastructure, with significant operations in the United States, Europe, and China. Founded in 1979 and headquartered in Burnaby, Canada, Ballard Power Systems is recognized as a leader in the fuel cell industry.

Paul Howard

Co-Founder

Randy MacEwen

President and CEO

Keith Prater

Co-Founder

6 past transactions

Quantron

Series A in 2022
Quantron is a provider of clean battery and hydrogen-powered e-mobility solutions for commercial vehicles, including trucks, buses, and vans. The company specializes in the electrification of both new and existing vehicles, offering a comprehensive suite of services that includes the development of tailored concepts featuring appropriate charging infrastructure. Additionally, Quantron provides rental, financing, and leasing options to support customers in transitioning from diesel to electric vehicles. The company also sells batteries and customized electrification solutions to manufacturers in sectors such as commercial vehicles, machinery, and intralogistics. Through its innovative approach, Quantron aims to facilitate the shift towards sustainable transportation in the commercial sector.

Wei Chi Teng Automobile

Series A in 2022
Wei Chi Teng Automobile is a high-end commercial vehicle R&D and manufacturer.

Arcola Energy

Acquisition in 2021
Arcola Energy is a leader in hydrogen and fuel cell integration, specializing in zero-emission solutions for heavy-duty vehicles and transport applications.

Protonex Technology

Acquisition in 2015
Protonex Technology is a developer and manufacturer of intelligent power management and portable fuel cell products tailored for military and commercial markets. The company focuses on revolutionizing portable power solutions, offering advantages over traditional batteries and generators. By providing mission-critical equipment, Protonex enhances energy efficiency and operational flexibility for military applications, addressing the evolving power needs of its users.

IdaTech

Acquisition in 2012
IdaTech, including the Company's fuel cell product lines for backup power applications, distributor and customer relationships, as well as a license to intellectual property.

H2scan

Venture Round in 2002
H2scan Corporation, established in 2002 and headquartered in Valencia, California, specializes in manufacturing and distributing hydrogen leak detection and process gas measurement products globally. The company offers two primary product lines: HY-OPTIMA for real-time hydrogen monitoring in industrial processes, and HY-ALERTA for safety-focused hydrogen leak detection in various environments. Their patented hydrogen sensing technology is designed to integrate into diverse industries such as electric power grids, petroleum, nuclear power plants, and chemical production facilities. H2scan serves these markets through a network of distributors across North America, Asia, Europe, South America, the Middle East, Australia, and Africa. The company's strategic partnership with WEIDMANN Diagnostic Solutions enhances its product offerings. Originally formed via an MBO with backing from Chrysalix Energy Limited Partnership and Ravinia Venture Fund, H2scan's technology is based on improvements to systems developed by Sandia National Laboratory.
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