Ballard Power Systems has completed the acquisition of UK-based GeoPura. GeoPura, founded in 2019, designs, manufactures and operates hydrogen power units (HPUs) for off-grid power applications. The HPUs use Ballard fuel cell modules to convert hydrogen into clean electricity.
Furthermore, the transaction involves upfront consideration of £275 million, including £82.5 million in cash and newly issued Ballard common shares. Former GeoPura shareholders will hold approximately 14.1 per cent of Ballard’s outstanding common shares on a pro-forma basis. Ballard may also pay up to £27.5 million in additional contingent consideration, subject to GeoPura achieving specified post-closing financial milestones.
In March 2026, Ballard Power Systems powered the Phynix Baseload Power Hub, part of the 759 MW CrossWind Hollandse Kust Noord offshore wind project in the Netherlands, with its 1 MW FCwave™ fuel cell system. The hydrogen-powered hub is designed to convert stored green hydrogen back into electricity. The project, comprising 69 Siemens Gamesa 11 MW turbines, was completed in December 2023 and can generate enough electricity to power approximately one million households.