Ballard Power Systems has acquired 100% of Arcola Energy for total upfront and earn-out cash and share consideration of up to US$ 40 million.
Arcola Energy is a UK-based systems engineering company that specialises in hydrogen fuel cell powertrain and vehicle systems integration. It has about 90 employees based in the UK.
Randy MacEwen, Ballard CEO, said, “With the acquisition of Arcola, we will make it easier for existing and new OEM customers globally to offer FCEVs by providing stronger support for the integration of our fuel cell engines into their vehicle platforms, including powertrain integration, vehicle integration and application engineering.”
Dr Ben Todd, CEO of Arcola, added, “Together, we will improve and optimise FCEV powertrain and vehicle performance, lower lifecycle costs, and simplify powertrain and vehicle systems integration and service for customers.”
Meanwhile, Daimler Truck has announced that it is ready with its plan to be listed on the Frankfurt stock exchange on 10th December 2021. The hydrogen-powered fuel cells truck business is a key pillar in its strategy. It will redirect the majority of R&D spending is to zero-emission vehicle (ZEV) technologies by 2025. The company focuses on both battery electric vehicles (BEV) and hydrogen-based fuel cell electric vehicles (FCEV). It also aims to establish a network of 150 hydrogen refuelling stations and 5,000 heavy-duty hydrogen trucks by 2030.