Ballard Power Systems, 2 partners buy controlling stake in Dantherm Power for $6 million

Ballard Power, partners buy stake in Dantherm

NEW YORK — Shares of Ballard Power Systems Inc. jumped Tuesday, a day after the company said it and partners Danfoss A/S and Dantherm A/S have bought a controlling interest in Dantherm Power of Denmark for $6 million.

Dantherm Power is a startup that makes backup power systems for fuel cells. It is a manufacturing partner of Dantherm A/S.

The three investors plan to accelerate development of fuel cell backup power systems across Europe. Ballard said its Dantherm stake will give it direct involvement in supplying backup systems to telecommunications customers in Europe.

Ballard and its two partners are expected to take over all of Dantherm’s board seats. The $6 million investment will be made in two phases between 2010 and 2012. Dantherm is expected to continue to sell hydrogen-based products using Ballard’s fuel cell stack.

Ballard, which makes hydrogen fuel cell products, will contribute intellectual property and expertise on core fuel cell technology. Ballard is based in Burnaby, Canada.

Dantherm A/S, which makes and sells industrial air handling systems, will provide operational support as well as sales and marketing. Dantherm is based in Skive, Denmark.

Danfoss A/S, which manufactures parts for refrigerators and air conditioning products, will invest cash as well as contribute proprietary technology and operational support. Danfoss is based in Nordborg, Denmark.

Ballard shares rose 18 cents, or 7.8 percent, to $2.50 in afternoon trading.