Hydrogen fuel cell powered buses might be the future of public transportation.
What’s happening:
- Ballard Power (NASDAQ: BLDP) has announced a new purchase agreement with European bus manufacturer Solaris to supply them with 1,000 hydrogen fuel cell engines
Why it matters:
- This is the single largest purchase of fuel cell engines Ballard Power has ever received since the inception of the company
- Hydrogen fuel cell engines for buses represents one of the most seamless ways to decarbonize public transportation away from fossil fuel powered vehicles
By the numbers:
- Solaris plans to use the new fuel cell engines to operate buses in 22 different countries across Europe
Market reaction:
- Shares of Ballard Power jumped +17% after the announcement
Going deeper:
- Hydrogen fuel cells have also begun to see adoption for replacing fossil fuel powered vehicles for short distance deliveries, with multiple publicly traded companies developing purpose built commercial vehicles that do not emit any carbon
