Why Ballard Power Systems Inc's Shares Popped 21% Today
Shares of fuel-cell company Ballard Power Systems Inc. (NASDAQ: BLDP) jumped as much as 20.8% in trading Wednesday after announcing a new fuel cell that doesn't use precious metals as a catalyst. The product could make fuel cells more accessible for commercial fuel cells when it's launched later this year. Shares held most of their gains late in the day and were up 19.9% at 1:30 p.m. EDT.
A collaboration with Nisshinbo Holdings led to the first commercialized non-precious metal catalyst (NPMC)-based exchange membrane. This is the membrane that turns hydrogen into energy, and is often limited by its use of expensive precious metals. According to Ballard, platinum use will be reduced by over 80% in the new fuel cell.
Image source: Ballard Energy Systems.
Source: Fool.com