Credit: Shutterstock photoBallard Power Systems (BLDP, BLD.TO) has announced that Azure Hydrogen Energy Science and Technology Corporation, Ballard's partner in China, has acquired a 10% ownership position in Dantherm Power, Ballard's telecom backup power subsidiary, for $2 million. Grand Mao, Chairman of Azure, will become a member of the Dantherm Power Board of Directors and will support the business in achieving commercial success in China.
Following the transaction, Ballard's ownership position in Dantherm Power is 52% and Dantherm A/S holds the remaining 38% ownership position. Dantherm Power is headquartered in Hobro, Denmark and acts as a development center for Ballard ElectraGen direct hydrogen systems used for backup power in the telecommunications sector.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
