H2 locomotive deal pushes BLDP stock higher on Wednesday – Idaho Reporter


H2 locomotive deal pushes BLDP stock higher on Wednesday

Ballard Power (NASDAQ:BLDP) stock had a so-so day on Tuesday. The shares benefited from the industry-wide boom and a follow-up order for 50 fuel cell modules to drive fuel cell electric buses from Wrightbus.

But during after-hours trading session, the stock rose another eight percent due to another interesting news.

Canadian Pacific (NYSE:CP) has announced that it will use Ballard fuel cell modules for its hydrogen locomotive program. The modules will provide a total of 1.2 megawatts of electricity to drive the locomotive.

As part of the program, CP Rail will develop the first hydrogen-powered freight locomotive in North America by retrofitting a former diesel-powered locomotive with Ballard hydrogen fuel cells.

Ballard plans to deliver six of its 200 kilowatt fuel cell modules to CP in 2021. The Canadian company will also provide support in integrating the modules into the locomotive.

BLDP stock price is up almost 10% during pre-market trading session on Wednesday.

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