NEW YORK, NY / ACCESSWIRE / April 6, 2017 / The fuel cell industry received a charge of good news today as Amazon and Plug Power came to an agreement for forklift power cells. Other companies not directly involved, such as Ballard Power Systems, received a trickle- down effect.

RDI Initiates Coverage on:

Plug Power Inc. https://ub.rdinvesting.com/news/?ticker=PLUG

Ballard Power Systems Inc. https://ub.rdinvesting.com/news/?ticker=BLDP

Plug Power advanced 73.08% to close at $2.25 on Wednesday. The stock traded between $1.91 and $2.40 on volume of 137 million shares traded. The hydrogen fuel cell manufacturer caught the eye of online retail giant Amazon.com, as Amazon bought the right to purchase up to 23% of Plug Power. Amazon will equip forklifts at 11 of its warehouses with hydrogen fuel cells this year. Compared to the existing power units used in Amazon warehouses, Plug Power's will last longer and require less time to recharge. 2017 revenue for Plug Power is estimated to increase by $70 million because of this deal with Amazon. Amazon was also granted 55,286,696 warrants with an exercise price of $1.1893 per share.

Access RDI's Plug Power Research Report at: https://ub.rdinvesting.com/news/?ticker=PLUG

Ballard Power Systems advanced 1.28% to close at $2.38 on Wednesday. The stock traded between $2.35 and $2.61 on volume of 6.1million shares traded. The company continued its rise in after-hours trading. Though no specific company news was cited for the bump in stock price, the fuel cell industry as a whole is expected to benefit from Amazon's decision to buy a 23% stake in Plug Power. Plug Power previously reached an agreement with Walmart in 2014 for fuel cells, but company profits were not as expected.

Access RDI's Ballard Power Systems Research Report at: https://ub.rdinvesting.com/news/?ticker=BLDP

Our Actionable Research on Plug Power Inc. (NASDAQ: PLUG) and Ballard Power Systems Inc. (NASDAQ: BLDP) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com