Cleantech Stock Surges on Investment Announcement

Ballard Power Systems (TSX:BLDP), a cleantech stock, climbed after announcing an equity investment from China’s Weichai Power Co

Sean Mason | August 29, 2018 | SmallCapPower

A significant Chinese investment sparked interest in a Canadian cleantech stock Wednesday. Here’s some small stocks making big moves on Wednesday, August 29, 2018 (as of 4 pm EST):

Ballard Power Systems (TSX:BLDP), a cleantech stock, powered 17% higher to $4.42 on Wednesday after announcing that China’s Weichai Power Co., Ltd. will make an equity investment in Ballard of approximately $163 million, at a price per share of $3.54, representing a 19.9% equity stake.

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As well, shares of Sokoman Iron Corp. (TSXV:SIC) fell 26% to $0.19 as the gold explorer said it has received assay results from the remaining 12 holes completed at the Moosehead Project in Newfoundland, with intersections that included 1.05 metres of 207.51 g/t gold.

Westport Fuel Systems Inc. (TSX:WPRT), meanwhile, reported that it has entered into definitive development and supply agreements with China’s Weichai Westport Inc. to develop, market, and commercialize a heavy-duty, natural gas engine featuring the Westport HPDI 2.0 technology, based on one of Weichai Power Co. Ltd.’s heavy-duty engine platforms. Westport Fuel System stock popped 21% to $4.53 following the announcement.

Finally, Blue Moon Zinc Corp. (TSXV:MOON) gained 7% to $0.075 as the resource junior announced that the Phase 1 drill program has just commenced at its 100%-owned Blue Moon zinc-rich Volcanic Massive Sulphide deposit in California.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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