Ballard acquired 100% of Arcola for total upfront and earn-out cash and share consideration of up to US$40m, based on the achievement of certain performance milestones.
With more than 10 years of experience integrating Ballard fuel cell engines into powertrains and heavy-duty vehicles, including buses, refuse trucks and trains, Arcola currently has approximately 90 employees based in the UK.
Arcola is one of the fastest-growing hydrogen companies in the UK, working with some of the most progressive local authorities, fleet operators and OEMs to meet their zero-emission targets.
“We continue to focus on simplifying the fuel cell electric vehicle (FCEV) experience and ease implementation friction points for OEM customers and end-users,” said Randy MacEwen, Ballard’s president and chief executive officer. “We are putting the customer at the heart of our strategy and investments. With the acquisition of Arcola, we will make it easier for existing and new OEM customers globally to offer FCEVs by providing stronger support for the integration of our fuel cell engines into their vehicle platforms, including powertrain integration, vehicle integration and application engineering.”
Dr Ben Todd, founder and CEO of Arcola, added, “The entire Arcola team is thrilled to combine our shared passion for decarbonizing mobility and our unique expertise in fuel cell powertrain integration with Ballard’s world leading PEM fuel cell technology and market position in heavy-duty mobility. Together, we will improve and optimize FCEV powertrain and vehicle performance, lower lifecycle costs, and simplify powertrain and vehicle systems integration and service for customers.”
Arcola Energy has led a rail industry consortium, which includes Angel Trains, the University of St Andrews and Scottish Enterprise, to develop Scotland’s hydrogen-powered train, which has been showcased this week at COP26 at Bo’ness’s rail heritage center. Find out more about the project here.