01:52 PM EDT, 06/18/2024 (MT Newswires) -- Ballard announced a strategic technology partnership with Vertiv which is focused on demonstrating the technical feasibility and customer benefits of hydrogen-powered fuel cell solutions for backup power to data center & critical infrastructure customers.

Truist Securities sees the partnership as an incremental positive in Ballard's efforts on stationary backup power - particularly into the high growth data center market with Vertiv representing a strong partner in the space.

Vertiv has integrated two of Ballard's 200kW PowerGen fuel cell cabinets with the company's uninterruptible power system (UPS) at Vertiv's facility in Delaware, OH. The strategic partnership follows up on Ballard's continued work in the stationary backup power market following its demonstration project with Microsoft and Caterpillar which was completed in the back half of 2023.

Truist has a Hold rating and a US$3 target on Ballard.

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