Honeywell Acquires Assets From Ballard Unmanned Systems - Quick Facts

(RTTNews) - Honeywell (HON) has acquired assets from Ballard Unmanned Systems, a unit of Ballard Power Systems Inc. Ballard Unmanned Systems designs and produces stored-hydrogen proton exchange membrane fuel cell systems that power unmanned aerial systems, particularly those used for energy inspection, cargo delivery, and other commercial and defense applications.

The company is acquiring the key intellectual property, inventory and equipment of Ballard Unmanned Systems. Ballard's team of fuel-cell experts will also join Honeywell.

Honeywell said, with the added capabilities of Ballard Unmanned Systems, the company intends to introduce a family of fuel cell power systems for a variety of UAS vehicles. Honeywell will also collaborate with Ballard Power Systems on broader aviation applications.

Honeywell noted that there is no change to its third-quarter guidance as a result of the acquisition.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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