Ballard Power Systems Inc. Shares Gain On Fuel Cell Order

Ballard Power Systems Inc. (USA) BLDP obtained an order for 13 fuel cell backup power systems to be deployed in the Digicel Group Ltd. network in Jamaica.

With the deployment of these 13 additional systems, Ballard will have 161 backup power systems deployed in the Caribbean.

Ballard shares gained nearly 5 percent in early trading Monday. Plug Power Inc. PLUG, which has a supplier agreement with Ballard unrelated to the recent order, gained nearly 2 percent.

Backup power systems accounted for 20 percent of Vancouver-based Ballard's $18.5 million in total revenue for the period ended June 30 and the company has posted annual losses in each of the past five years.

Ballard reported a 27 percent increase in revenue for its most recent quarter and its shares are up nearly 120 percent year to date.