NEW YORK, NY / ACCESSWIRE / April 20, 2017 / Plug Power's shares declined 1.33 percent to close at $2.22 a share on Wednesday. The stock traded between $2.20 and $2.29 on volume of 6.30 million shares traded. On April 5th, the company announced an agreement with Amazon to utilize Plug Power fuel cells and hydrogen technology in Amazon's fulfillment operations. Amazon has agreed to purchase approximately $70 million of Plug Power's hydrogen fuel cells and other technology in 2017. The company has also granted Amazon warrants for up to 55,286,696 common shares of Plug Power at a price of $1.1893 per share. "Vesting of the warrants is tied to payments totaling $600 million in the aggregate made by Amazon, directly or indirectly, in connection with the purchase of goods and services from Plug Power," the company said in a press release. Shares of Plug Power have gained approximately 85 percent year-to-date.

"This agreement is a tremendous opportunity for Plug Power to further innovate and grow while helping to support the work Amazon does to pick, pack and ship customer orders," said Andy Marsh, CEO of Plug Power. "Our hydrogen fuel cell technology, comprehensive service network, and commitment to providing cost-savings for customers has enabled Plug Power to become a trusted partner to many in the industry and we are excited to begin working with Amazon."

Plug Power reported GAAP revenue was $32.6 million for the fourth quarter of 2016, compared to $38.4 million in the fourth quarter of 2015. Revenues were $85.9 million for the full year 2016. At the end of 2016, more than 14,000 of Plug Power's fuel cells were powering industrial electric vehicles at major companies around the world, including Home Depot, Nike and Walmart.

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Ballard Power Systems' shares declined 3.46 percent to close at $2.79 a share on Wednesday. The stock traded between $2.76 and $2.87 on volume of 1.68 million shares traded. On April 5th, the company announced that it had signed a deal with Zhongshan Broad-Ocean Motor Co., Ltd. for 200 FCveloCity fuel cell engines, which will be used in clean energy buses and commercial vehicles in key Chinese cities. The deal is valued to be worth approximately $11 million. Shares of Ballard Power Systems have gained approximately 69.09 percent year-to-date.

"Once closed, we will work to execute terms of the deal this year. In parallel, Broad-Ocean plans to seize early market demand for fuel cell buses and commercial vehicles in strategic demonstration projects in key Chinese cities. As a result, we will supply Broad-Ocean with 200 fuel cell modules in 2017 to support these initial projects. This $11 million order will be incremental to the expected $25 million value of the technology transfer deal," said Randy MacEwen, Ballard President and CEO.

Access RDI's Ballard Power Systems Research Report at:
https://ub.rdinvesting.com/news/?ticker=BLDP

Our Actionable Research on Plug Power Inc. (NASDAQ: PLUG) and Ballard Power Systems Inc. (NASDAQ: BLDP) can be downloaded free of charge at Research Driven Investing.

RDI Initiates Coverage on:

Plug Power Inc.
https://ub.rdinvesting.com/news/?ticker=PLUG

Ballard Power Systems Inc.
https://ub.rdinvesting.com/news/?ticker=BLDP

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