Ballard signs $1M services agreement with M-Field in Europe
Deal includes engineering services for material handling systems to be deployed in Europe.
VANCOUVER — Ballard Power Systems has signed an agreement for the sub-license of intellectual property (IP) to sustainable energy company, M-Field Energy Corp, for material handling systems to be deployed in Europe.
Ballard will also provide M-Field with engineering services support into early-2015 through Dantherm Power A/S, the company’s subsidiary in Denmark, to assist in integrating Ballard’s fuel cell stacks.
The deal is worth a reported $1 million.
Ballard has acquired the material handling intellectual property portfolio of H2 Logic A/S and is sub-licensing the IP to M-Field under the agreement. H2 Logic A/S is a European manufacturer of hydrogen refuelling stations and fuel cell systems for forklift trucks and tow tractors.
Also under the agreement, Ballard will supply fuel cell stacks, including the FCgen-1020ACS air-cooled and FCvelocity-9SSL liquid-cooled stack products, for all material handling systems deployed by M-Field in Europe.
Ballard is a Vancouver, BC-based developer of clean energy fuel cell products.