SFC Energy acquires Ballard’s Scandinavian fuel cell assets

SFC Energy has agreed to purchase selected fuel cell assets from Ballard Power Systems Europe’s Scandinavian (BPSE) business for an undisclosed amount.

H2 View understands that the purchase will cost at least €1m but not exceed €10m, allowing SFC to expand its own power range with two 1.7kW and 5kW PEM hydrogen fuel cell solutions.

The acquisition will also cover BSPE’s customer base, its sales pipelines, and maintenance contracts of around 400 sites in Denmark, Norway, Sweden and Finland – subject to customer consent. The German firm will also attain Ballard employees.

SFC Denmark is expected to “generate revenues in the mid-single-digit million Euro range and a positive contribution to EBITDA and EBIT starting in 2025.”