NEW YORK (AP) — Ballard Power Systems said Tuesday that Plug Power Inc. committed to buy at least 3,250 of Ballard's fuel-cell stacks to power forklift trucks.
The deal was made under an existing agreement between the companies that runs through 2014.
Plug Power said some companies such as Kroger Co. have converted forklift fleets in distribution centers to hydrogen fuel-cell power instead of lead-acid batteries.
Ballard said the size of the shipments and delivery schedule by the end of 2012 will lead to more efficiency and lower prices for the fuel-cell stacks.
Ballard shares rose 11 cents, or 7.8 percent, to $1.53, while Plug Power shares gained 1 cent to $2.28.