Cleantech Stock Powers Higher on China Deal

Ballard Power Systems (TSE:BLD), a cleantech stock, climbed after signing definitive agreements with China’s Guangdong Nation Synergy Hydrogen Power Technology Co. Ltd.

Sean Mason | July 18, 2016 | SmallCapPower

A potential multi-million dollar agreement put a charge into a cleantech stock Monday. Here’s some small stocks making big moves on Monday, July 18, 2016 (as of 4 pm EST):

Cleantech stock Ballard Power Systems (TSE:BLD) surged 44% to $2.59 on Monday after the announcing the signing of definitive agreements with China’s Guangdong Nation Synergy Hydrogen Power Technology Co. Ltd. for the establishment of an FCvelocity-9SSL fuel cell stack production operation in the City of Yunfu, in Guangdong Province. Ballard expects the transaction will have a contemplated minimum value of $168 million over five years.

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As well, shares of Paladin Energy Ltd (TSE:PDN) jumped 14% to $0.21 as the uranium miner said it generated gross sales revenue of US$63.0 million during its June quarter, which was a 205% increase over the previous quarter.

Galane Gold Ltd. (CVE:GG), meanwhile, reported that its Board has approved a US$2.0 million capital expenditure program required for the first phase of the recommencement of production at the Company’s Galaxy Gold mine in South Africa, up to a target of 60,000 ounces per annum. Galane Gold stock moved up 32% to $0.185.

Finally, RYU Apparel Inc. (CVE:RYU) shares rose 10% to $0.165 after the urban athletic apparel maker announced that its second-quarter revenue increased 28% from Q1 to $339,307.

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