Shares of Ballard Power Systems Inc. rose 0.6% in premarket trading Monday, after the fuel cell power company announced an order from Switzerland-based Stadler Rail AG for the supply of six fuel cell engines. Ballard said the engines will be used to power the first hydrogen train in the U.S. The train, which will seat over 100 passengers, is expected to be in service in San Bernardino, Calif. in 2024. Financial terms of the order were not disclosed. “We are excited to work with Stadler, a global industry leader in rail manufacturing, to reduce emissions in the transportation sector and bring the first hydrogen powered, zero emission passenger train to the United States,” said Ballard Chief Executive Randy MacEwen. The stock has dropped 48.8% year to date through Friday, while the S&P 500 has lost 22.5%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.