Ballard’s acquisition of hydrogen power firm GeoPura marks a significant shift in the Canadian fuel cell maker’s business model, transforming it from a fuel cell supplier into an integrated hydrogen power provider.
The company claims the move could increase the revenue it captures from each deployed megawatt fivefold by participating across hydrogen production, logistics, power generation and fuel sales.
Since its launch in 2019, the UK-based company has rapidly expanded its footprint, manufacturing hydrogen power units (HPUs) in Newcastle with Siemens Energy, producing green hydrogen with government support, and acquiring assets in Denmark from bankrupt electrolyser firm Green Hydrogen Systems.
GeoPura’s business model spans hydrogen production, distribution, and recurring HPU leasing contracts, with fuel sales providing an additional revenue stream. It has provided HPUs for applications across film and TV, events, electric vehicle charging, data centres, and more.
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