Ballard Power (TSE:BLDP) has released an update.
Ballard Power Systems has been recommended for two DOE grants totaling $40 million to support the construction of Ballard Rockwall Giga 1, an integrated fuel cell production Gigafactory in Rockwall, Texas. This investment is part of Ballard’s ‘local for local’ strategy, aiming to produce 3 gigawatts of fuel cells annually, with future plans for further expansion. The Gigafactory is expected to bolster the U.S.’s sustainable energy and domestic manufacturing capabilities, with a final investment decision due later in 2024.
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