VANCOUVER, B.C. — Vancouver-based fuel cell maker, Ballard Power, lost $32.4 million in the third quarter, but the company isn’t overly surprised.
Ballard is expecting to lose money for several years while developing its clean air technology. However the loss is significantly more than the $5.7 million Ballard lost during the same quarter last year.
Ballard officials blame the increase on an accelerated pace of costly research and development.
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