Fuel cell stocks like Plug Power (plug– Receive a report And ballard (BLDP– Receive a reportThe rise continued Wednesday after news of a partnership between Plug Power and Renault for hydrogen-powered vans in Europe.
Additionally, Truist on Tuesday began covering Plug Power with a $ 60 buy and target rating.Investors are plowing money to electric cars and related stocks.
Plug Power was trading recently at $ 67.45, up 2.2%, Ballard Power at $ 35.47, up 3.2% and FuelCell Power. (FCEL̵1; Receive a report At $ 19.08, up 0.2%, the stock dropped to its peak amid taking profit.
For the Plug-Renault deal, the companies agreed to create a 50-50 joint venture focused on hydrogen fuel cell vehicle systems. The joint venture will include building a fuel cell fleet and a systems manufacturing center in France to integrate into a light commercial vehicle platform.
The joint venture will begin selling small, fuel-cell commercial vehicles in Europe starting in 2021 with a pilot fleet installed.
As for Truist, it said Plug Power could transform a ballyhoo over a hydrogen-powered vehicle into a real order and profitability over the next three years, Bloomberg reported.
Ballard Power continued to benefit from news on Tuesday that it received an order from Arcola Energy for Ballard FC’s Move-HD fuel cell module to power a passenger train planned for the November demonstration.
Scottish Enterprise, Transport Scotland and Hydrogen Accelerator, based at the University of St Andrews, Arcola, and an industry-leading group of hydrogen fuel cell integration, rail engineering and occupational safety to deliver the first hydrogen-powered train. Of Scotland
