Ballard Power Systems Acquires Arcola Energy

Ballard Power Systems Acquires GeoPura to Build Integrated Hydrogen Energy-as-a-Service Platform

June 25, 2026

Energy

Ballard Power Systems has signed a definitive agreement to acquire UK-based hydrogen power solutions provider GeoPura Limited for an upfront consideration of £275.0 million, funded with cash and issued Ballard shares, plus up to £27.5 million contingent on post-closing milestones. The deal is intended to transform Ballard into a vertically integrated “Energy-as-a-Service” provider by combining Ballard fuel cell technology with GeoPura’s hydrogen production, distribution/logistics and Hydrogen Power Unit (HPU) business.

Shell Acquires ARC Resources Ltd.

April 27, 2026

Oil & Gas

Shell plc agreed to acquire all outstanding shares of ARC Resources Ltd. in a cash-and-share transaction announced on April 27, 2026, with an enterprise value initially estimated at approximately US$16.4 billion. The acquisition closed on September 2, 2026, adding ARC’s Montney oil and gas production and reserves to Shell’s Canadian portfolio and supporting its production growth and integrated LNG strategy.

ArcLight Capital Partners Acquires Advanced Power

July 24, 2025

Energy

ArcLight Capital Partners has acquired Advanced Power and committed an initial $1 billion equity investment to accelerate development of modern power infrastructure. The partnership could deploy more than $5 billion over five years to support over 20 GW of new generation and 10+ GWh of storage, targeting utilities, data center developers and hyperscalers across North America.

Arcadia Acquires RPD Energy

February 10, 2025

Renewable Energy

Arcadia, the global utility data and energy solutions platform, has acquired RPD Energy (Renewable Power Direct) to expand its Enterprise Energy Procurement Advisory offerings. The acquisition brings RPD’s renewable procurement structuring, analytics, and 24/7 carbon-free energy capabilities into Arcadia’s platform; RPD EVP Rohit Marwaha will lead Arcadia’s onsite and offsite procurement advisory offerings.

Hydrasun (SCF-backed) Acquires Fuel Cell Systems Ltd.

September 28, 2022

Renewable Energy

Hydrasun, backed by SCF Partners, has acquired Fuel Cell Systems Ltd., a UK provider of hydrogen systems including fuel cells, modular electrolyzers, compression, storage and refueling systems. The acquisition expands Hydrasun's hydrogen systems capabilities and proprietary technology with plans to scale manufacturing, recruit staff and accelerate R&D.

Advent Technologies to Acquire fischer Group’s Fuel Cell Systems Businesses (SerEnergy and fischer eco solutions)

June 25, 2021

Energy

Advent Technologies Holdings, Inc. entered into a definitive agreement to acquire the fuel cell systems businesses of fischer Group for an aggregate consideration of EUR 52 million (cash and Advent stock). The deal includes SerEnergy A/S (Aalborg, Denmark) and fischer eco solutions GmbH (Achern, Germany), with closing expected in Q3 2021 subject to regulatory approval.