We showed a sneak peek of the California Combat Hoodie around SHOT Show and All Skill No Luck informs us the fabric will be here soon.
The concept came from our friend Nathan Murr, inventor of the Gripstop.
Remember, these are prototype photos. Hopefully, they’ll clean up a few tells and turn this into a true Grey Man garment.
VANCOUVER, BC, CANADA and SOUTHBOROUGH, MA, USA – Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced that it has entered into a definitive agreement to divest certain non-core assets of its subsidiary, Protonex, related to the Power Manager business to Revision Military Ltd.), a private U.S.-based company, for up to $16.0 million in cash. Ballard will retain certain assets related to fuel cell propulsion systems for military and commercial unmanned vehicles.
Terms of the transaction include upfront consideration of $4.75 million to Ballard, subject to a customary working capital adjustment, and up to a further $11.25 million, based on achievement of specific sales objectives during a 12-month earn-out period. The transaction is expected to close within the next 60 days, subject to customary closing conditions.
Randy MacEwen, Ballard President and CEO said, “This divestiture is consistent with our strategy of continuous portfolio optimization. We decided to divest Protonex assets that are no longer aligned with Ballard’s strategic fuel cell focus, while retaining assets related to the unmanned vehicle market, under the Ballard brand. The divestiture reduces complexity while allowing us to further invest in our core fuel cell business.”
Mr. MacEwen continued, “We originally acquired Protonex to provide strategic diversification and to engage the U.S. military complex as a potential customer for portable fuel cell products. With the developing value proposition and attractive market opportunities for fuel cell electric vehicles or FCEVs in Heavy- and Medium-Duty Motive markets, including bus, truck, rail, marine and other applications, we are divesting the Power Manager business to focus on core fuel cell market opportunities. The Power Manager business is a good long-term business that better complements the Revision strategy.”
Jonathan Blanshay, CEO of Revision Military Ltd. commented, “Revision is in the business of developing and supplying leading-edge protective equipment, along with innovations in power management and integrated systems, for mission critical military and tactical use. We are confident that our corporate platform, along with planned increases in U.S. defense spending and achievement of Milestone C, create a compelling growth opportunity for the Protonex Power Manager business.”
In 2015 Ballard paid approximately $17.5 million in shares and cash to acquire Protonex, which included the Power Manager business, a Solid Oxide Fuel Cells business which was divested in January 2018, and the unmanned vehicle business.
For additional information regarding unmanned vehicles, please visit www.ballard.com/markets/uav.
Early this week, U.S. Elite had a hot summer Salomon Forces Sale at 25% off. It’s on its final days, and the last few sizes for the exclusive Sua Sponte is on its final run before it becomes a unicorn. In case you missed that, make sure you sign up for our newsletter to get first dibs on special promos.
Here’s a round-up of the hottest deal this time of the year:
Use coupon code “LABORDAY15” at checkout and take 15% off any regular priced gear. Excludes Arc’teryx LEAF and Suunto. Excludes clearance items and products already on sale. Coupon valid until Sept. 7, 2018
For the perfect technical clothes for summer traveling, check out RailRiders and save up to 35% off.
Enjoy 35% off Magpul Summer Apparel.
Save 25% on all Scarpa footwear. This includes hiking boots, rock climbing shoes, and its most popular Mojitos.
This year’s breakout top-seller, the Infiltrator Jacket, and the many colors of Ferrosi Hooded Jacket from Outdoor Research is now on sale at 25% off.
Visit the Dropzone and discover deep discounts on your favorite Arc’teryx LEAF, Patagonia, Benchmade, Oakley, Velocity and Wild Things gear. No backorders allowed.
For loyal Soldier Systems followers, please use coupon code “SSDSHIPSFREE” for CONUS flat rate free shipping.
Thank you for making U.S. Elite your most trusted veteran-vetted tactical online store.
www.us-elitegear.com
Grzegorz sends this photo from a Monument in Warsaw.
