Fuel Cell company Ballard Power Systems (Nasdaq: BLDP) expects to turn a profit soon, the company’s CEO told a group of investors on Wednesday.
The company, which has been working for years to commercialized fuel cell technology, has recently found a strong market for its products in India, where they are being employed as backup power systems for the country’s fickle electric grid.
Ballard has forecast a 15% to 30% increase in 2009 revenue.
"We think profitability in the near term is very realistic," Ballard CEO John Sheridan said at an investor conference in Vancouver.
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