It has been announced by Ballad Power Systems Inc (USA) (NASDAQ:BLDP) that they have signed an agreement with Toyota Motor Corp (ADR) (NYSE:TM) sub-branch Toyota Tsusho Corporation which will enable Ballard Power to further expand into Japan.
The terms of the agreement dictate that the role of the distributor of Ballard Power Fuel Cells Products throughout Japan will be carried out by Toyota Tsusho.
Unless the companies decide to further extend this agreement. This production agreement will extend to December, 31 – 2020.
The CEO of Ballard Power, Randy McEwen stated that he is fully confident in the agreement that they have established as he believes through the extensive network that the Toyota Group has access to, their fuel cell products will be distributed across a wide range of end-markets.
The climax of Fuel Cell Energy throughout Japan.
Following the Fukushima incident, which involved an accident with regards to nuclear power energy sources. Japan has become strict on the use of only Fossil Fuels and alternating sources in the production and development of energy.
Due to this change in energy sources, the government has reportedly taken actions into helping to lead the innovation in the production of energy throughout Japan through the use of Fossil Fuels and alternation power sources.
One of such strategic investments was revealed, which involved the government investing $100 million in the development of not only hydrogen infrastructure but also other initiatives which are predicted to take part over the next five years.
Due to these incentives, the potential opportunity for Ballard Power’s products throughout Japan can unlock countless investments and possibilities for expansion.
