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Ballard Power buys fuel cell company

2015-06-29 19:20:45| Industrial Machines - Topix.net

Ballard Power Systems has struck an agreement to buy fuel cell developer Protonex Technology Corp. in a transaction valued at $30 million. The Vancouver-based company said Monday the definitive agreement includes Protonex's debt obligations of about $4.4 million while the remainder of the $25.6 million will be paid by issuing 11.2 million Ballard shares.

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