Honeywell completed the acquisition of UAV business of Ballard Power Systems.

Honeywell International, an American multinational conglomerate, completed the acquisition of UAV business of Ballard Power Systems, a manufacturer of fuel cells. Financial terms were not disclosed. "We remain positive on the long-term outlook for fuel cell propulsion systems in the UAV market. However, we determined to divest this non-core systems business given our strategic focus on the Heavy- and Medium-Duty Motive markets of bus, truck, train and marine, where we expect scaled commercialization and growth through 2030 and beyond. We believe the UAV business will be best positioned within the Honeywell enterprise and look forward to our ongoing collaboration with Honeywell and growing the exciting business opportunities for a range of urban air mobility and broader aerospace applications," Randy MacEwen, Ballard President and CEO.