VANCOUVER, BC and AHMEDABAD, India, Feb. 22, 2022 /PRNewswire/ – Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) announced today it has signed a non-binding Memorandum of Understanding (“MOU”) with the Adani Group (“Adani Group”; NSE: ADANIENT) to evaluate a joint investment case for the commercialization of fuel cells in various mobility and industrial applications in India. Under the MOU, both parties will examine various options to cooperate, including potential collaboration for fuel cell manufacturing in India.
Adani Group, founded in 1988, is the largest and fastest-growing portfolio of diversified businesses in India, with a current market capitalization of approximately US$150 billion, comprising of seven publicly listed companies with businesses spanning power generation and distribution, renewable energy, gas and infrastructure, logistics (seaport, airports, shipping, and…
Ballard announces MOU with Adani for hydrogen fuel cells in India
