Ballard signs fuel cell distribution deal with Toyota 
Fuel cell manufacturer, Ballard Power Systems, has signed a distribution agreement with Toyota Tsusho for the Japanese firm become the local distributor for Ballard products in Japan. News of the agreement, which will see the deal continue until the end of 2020, pushed Ballard's shares up nearly 10%. Toyota’s UK chief recently confirmed in an interview that Toyota believes hydrogen represents “the fuel of the future.”

Ballard Power Systems Inc. (USA) BLDP and Toyota Motor Corp (ADR) TM trading firm, Toyota Tsusho Corporation, reached an agreement on distribution that will run through 2020. Accordingly, Toyota Tsusho will be a distributor of Ballard's fuel cell products in Japan.

Ballard indicated its intention to hire an expatriate sales person in Japan who will coordinate with Toyota Tsusho to execute a joint sales action plan.

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President and CEO Randy MacEwen commented, "This agreement with Toyota Tsusho Corporation represents an exciting development for Ballard and important progress in the execution of our strategy in Japan. Toyota Tsusho is a large-scale player in Japan and around the globe, with interests in diverse areas and access to the tremendous network of Toyota Group Companies across a wide range of end-markets."

Similarly, Toyota Tsusho believes that the extent of its business interest provided an extensive range of promising opportunities in the field of hydrogen fuel cell technology.

At time of writing, Ballard Power Systems was up 18.78 percent on the day at $2.34.

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