Ballard finalise l'acquisition de GeoPura et devient ainsi un fournisseur intégré de solutions énergétiques à l'hydrogène
Ballard Power Systems has completed the acquisition of GeoPura Limited, a UK-based provider of zero-emission hydrogen energy solutions. The merger combines Ballard's fuel cell technology with GeoPura's hydrogen power units and fuel supply capabilities, positioning the company as an integrated hydrogen energy solutions provider.
Founded in 2019, GeoPura aims to provide reliable zero-emission energy where and when it is needed. The company designs, manufactures, and operates Hydrogen Power Units™ (HPU™) that produce clean, quiet, off-grid electricity with a reliability of 99.9999%. These advanced systems utilize Ballard fuel cell modules to convert hydrogen into clean electricity and produce green hydrogen through dedicated electrolysis facilities.
The acquisition allows Ballard to offer a turnkey energy-as-a-service (EaaS) solution, enhancing its presence in the European market and creating new business opportunities in North America. According to Marty Neese, CEO of Ballard, this step marks a decisive evolution for the company by officially welcoming GeoPura into the group.
Andrew Cunningham, now president of Ballard, emphasized that the collaboration creates a more robust partner for customers facing complex energy challenges. He noted the combination of advanced fuel cell technology with proven hydrogen energy production and infrastructure expertise aims to address urgent energy concerns such as replacing fossil fuel generation and enhancing energy security.
The transaction agreement includes an initial total consideration of £275 million, comprising £82.5 million in cash and newly issued Ballard common shares. Former GeoPura shareholders are expected to hold approximately 14.1% of Ballard's outstanding common shares after the deal closes. Additional contingent payments could reach up to £27.5 million based on certain financial targets set post-transaction.
Effective from the closing date, Cunningham has taken on the role of president, reporting directly to Neese. Cunningham and Lord Richard Harrington, former UK Minister of Business and Industry, have joined Ballard's board of directors as designees of GeoPura’s former shareholders.