Organization: Ballard Power Systems Inc

CICP announces 36 more pre-qualified submissions

Private sector demand is surging for assistance under the federal government’s pilot Canadian Innovation Commercialization Program (CICP) initiative, with 36 innovations pre-qualified under the second call for proposals (CFP). Co-branded Kickstart, CICP was announced in the 2010 Budget with $40 million in funding. The Jenkins Panel is recommending that it be expanded and made permanent.…

Ballard sells automotive assets to Ford and Daimler

Ballard Power Systems Inc is exiting the automotive fuel cells business with the sale of its automotive-related assets to Ford Motor Co and Daimler AG for between $95 million and $105 million. The move is expected to reduce the Burnaby BC-based company’s R&D burn rate by $15 million annually as it shifts focus to other…

Ballard adjusts alliance with Ford and Daimler-Chrysler

Ballard Power Systems Inc, Vancouver, has re-negotiated its collaborative agreement with Ford Motor Co Ltd and Daimler-Chrysler AG. A new memorandum of understanding (MOU) will trigger $58 million in new cash from the automakers while Ballard will relinquish ownership in the jointly held German-based Ballard AG vehicular fuel cell business . The move marks a…

Xantrex Technology’s financing tops $164 million

Privately held Xantrex Technology Inc has increased its capital investment to $164 million in the past 18 months, with a $58.5-million round of financing to accelerate R&D, increase manufacturing capacity and expand its markets. Vancouver-based Xantrex develops power electronic and control products for several markets that convert power from any source into power required by…