Plug Power Inc. (PLUG) and Ballard Power Systems (BLDP) Team Up to Fulfill the “Big Picture”
Plug Power Inc. (Nasdaq: PLUG) develops and deploys clean energy solutions through the conversion of fuel cell technology into continuous and backup-power products for customers around the world. In a joint announcement, Plug Power and Ballard Power Systems (Nasdaq: BLDP) announced the extension of their existing supply agreement through Dec. 31, 2010. Per the agreement, Ballard will remain the exclusive supplier of fuel cell stacks for Plug Power's GenDrive product line of fuel cell power units, specifically Ballard's Mark9 SSL fuel cell product, which is used to replace lead-acid batteries in the trucks used in warehouse, distribution and manufacturing facilities.…