Skive, Denmark, 2012-12-20 08:31 CET (GLOBE NEWSWIRE) --
Ballard and Dantherm gain full ownership of Dantherm Power
Ballard Power Systems Inc. (“Ballard”), Dantherm A/S (“Dantherm”), and Danfoss Development A/S (“Danfoss”) have announced today that Ballard and Dantherm have acquired Danfoss’ block of shares in Dantherm Power.
The Companies, all existing shareholders in Dantherm Power, have entered into this agreement to facilitate the ability of all three companies to focus on their respective core businesses.
Following the transaction, Ballard and Dantherm own 57 % (before 52 %) and 43 % (before 38 %), respectively, of the common shares of Dantherm Power.
Dantherm Power is headquartered in Hobro, Denmark, and the activities are focused on two business areas: Power backup, with primary focus on the telecom market, and Micro combined heat and power solutions for private homes. Dantherm Power is today regarded as one of the leading players within the commercial application of fuel cell systems.
Ballard Power Systems, headquartered in Canada, is a world leading producer of PEM fuel cells, which is a key component in the Dantherm Power backup and Micro combined heat and power systems.
Any enquiries concerning this announcement can be directed to President & CEO Torben Duer on tel. +45 99 14 90 14.
