Fuel cell specialist Ballard Power Systems has purchased all the shares and acquired 100% ownership of its European subsidiary, strengthening its brand awareness and presence in the continent.
In the takeover, the company has rebranded its European outfit, previously known as Dantherm Power A/S, with Ballard’s logo and visual identity and has been renamed Ballard Power Systems Europe A/S.
Ballard held 57% of the shares in its Denmark-based subsidiary before purchasing the remaining 43% from Dansk Industri Invest A/S on 5th January, 2017. Ballard acquired the remaining shares for a nominal payment, although the exact amount was undisclosed.
The acquisition is the peak of a two-year process to secure its European subsidiary and rebrand its platform there with the traditional Ballard brand.
Tony Guglielmin, Chief Financial Officer and Chairman of the Board of Ballard Power Systems Europe, reinforced, “Europe is a criticially important market for Ballard and we have taken important steps to strengthen our sales, engineering and service capabilities to support expected market growth.”
Jesper Themsen, CEO of Ballard Power Systems Europe, added, “Together with our name change announced last September, this consolidation of ownership in our company under a single organisation will simplify decision making and enable us to aggressively fulfil our recently expanded role of supporting the breadth of Ballard’s activities in Europe.”
Ballard Power Systems, headquartered in British Columbia, Canada, provides clean energy products and offers fuel cell solutions. It specialises in proton exchange membrane (PEM) fuel cell development and commercialisation.