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Ballard Power Systems Inc. - BLDP STOCK NEWS

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Ballard Power Systems Inc. (NASDAQ: BLDP; TSX: BLDP) is a global leader in the development, production, and commercialization of Proton Exchange Membrane (PEM) fuel cell products. The company is at the forefront of delivering zero-emission fuel cell solutions that are being increasingly adopted across various heavy-duty and stationary power applications.

Founded in 1979, Ballard has established a sustainable leadership position in PEM fuel cell technology. Their cutting-edge products are designed for applications such as backup power, distributed generation, material handling, and particularly in the heavy-duty motive sector, including buses, trucks, rail, and marine vessels. Ballard's vision is to deliver fuel cell power for a sustainable planet, focusing on enabling the electrification of mobility and stationary power with zero-emission PEM fuel cells.

Recent achievements include the signing of a significant Long Term Supply Agreement (LTSA) with Solaris Bus & Coach for the supply of 1,000 hydrogen fuel cell engines through 2027. This marks the largest order in Ballard's history and underscores their robust relationship with Solaris in promoting fuel cell bus adoption across Europe. Another milestone is the receipt of $54 million in investment tax credits from the U.S. IRS to build a new fuel cell Gigafactory in Rockwall, Texas, supported by the Inflation Reduction Act. This facility will bolster Ballard's production capacity, addressing increasing market demand.

Ballard's product portfolio is bolstered by their newest innovation, the FCmove®-XD, a high-performance fuel cell engine unveiled at the Advanced Clean Transportation Expo. This ninth-generation engine offers significant enhancements in reliability, durability, efficiency, and total cost of ownership, poised to meet the rigorous demands of heavy-duty applications.

Financially, Ballard has shown consistent growth, with notable increases in order backlog and new bookings, reflecting strong customer interest across various market verticals. Their strategic global partnerships and government collaborations further enhance their market position, driving the global transition to clean energy.

Ballard Power Systems continues to advance its mission of enabling a sustainable energy future, pioneering innovations, and expanding its global footprint to meet the growing demand for clean energy solutions.

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Ballard Power Systems (NASDAQ: BLDP) has scheduled a conference call on August 12, 2024, at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time) to discuss its second quarter (Q2) 2024 operating results. Investors and analysts can access the live call by dialing +1-844-763-8274 (Canada/US toll free) or via a live webcast available on Ballard's homepage. The webcast will be archived for later access in the 'Earnings, Interviews & Presentations' section of the 'Investors' area on the company's website.

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Ballard Power Systems (NASDAQ: BLDP) and Vertiv (NYSE: VRT) announced a strategic partnership focused on hydrogen-powered fuel cell backup solutions for data centers. This partnership aims to address the rising power demands and carbon footprint concerns of the data center industry. A proof of concept demonstrated the integration of Ballard's fuel cell modules with Vertiv's Liebert EXL S1 UPS. The system showcased successful zero GHG emissions and scalability from 200kW to several MWs. The partnership also aligns with Vertiv's sustainability strategy and will focus on markets in North America, Europe, and selected other regions.

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Ballard Power Systems (NASDAQ: BLDP) released its 2023 ESG Report on June 10, 2024, highlighting significant progress in environmental, social, and governance performance.

Key achievements include 98% of global buildings using renewable electricity, a 33% reduction in building emissions, a 37% decrease in energy intensity per employee, and an increase in female leadership to 43%.

The report also introduces Ballard's plans for carbon neutrality by 2030, expanded GHG emissions inventory, and the establishment of a DEI Council.

Ballard's ESG disclosures align with GRI and SASB standards under the 'Fuel Cell and Industrial Batteries' sector.

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Ballard Power Systems (NASDAQ: BLDP, TSX: BLDP) announced the results of its 2024 Annual General Meeting held on June 5th. All director nominees listed in the Management Proxy Circular were re-elected with strong majority votes. Key resolutions passed include the re-appointment of KPMG LLP as auditors, approval of the executive compensation approach, and the 's equity-based compensation plans.

Highlights include: Kathy Bayless (97.30% votes for), Michael Chen (98.18%), Jacqueline Dedo (98.88%), and other directors receiving high approval rates. Additionally, the auditor appointment was approved by 86.26%, executive compensation by 80.15%, and equity-based compensation plans by 80.82% of the votes.

The detailed voting results reflect shareholder confidence and strategic alignment with the company's management.

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Element 1 Corp has partnered with Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) to advance sustainable hydrogen energy solutions. Their collaboration successfully linked Ballard’s FCwave™ 200-kW fuel cell module with Element 1’s M/L18 hydrogen generator, producing 235 kg of high-purity hydrogen daily at a pressure range of 0.7 to 2.2 barg. This outcome, achieved through software modifications, allows the FCwave™ to function without hardware changes. Element 1’s generator uses a methanol-water mix, lowering hydrogen production costs and eliminating the need for compressed or liquid hydrogen infrastructure. This innovation promises operational cost savings and reduced carbon intensity if renewable methanol is used.

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Ballard Power Systems (NASDAQ: BLDP) has introduced its 9th generation fuel cell engine, the FCmove®-XD, at the ACT Expo 2024 in Las Vegas. The new engine boasts the highest volumetric power density in the industry, with significant improvements in reliability, efficiency, and cost-effectiveness. The scalable 120 kW engine can deliver up to 360 kW of power with a design life exceeding 30,000 hours, making it ideal for heavy-duty applications. Key features include a 33% reduction in parts count, over 60% system efficiency, a wide operating temperature range, and compliance with safety standards. Initial manufacturing will take place in Oregon, with high-volume production planned for Texas.

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Ballard Power Systems reported solid Q1 2024 results with $64.5 million in new orders, a 38% increase in the Order Backlog, and revenue growth of 9%. The company announced non-dilutive funding of $94 million for their Rockwall Gigafactory and ended the quarter with $720.7 million in cash and cash equivalents. Despite a net loss from continuing operations, Ballard is optimistic about growth in 2025.

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Ballard Power Systems secures orders for 70 hydrogen fuel cell engines from Wrightbus for delivery in 2024, powering buses in the UK and Germany.
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Ballard Power Systems (BLDP) to review first quarter 2024 operating results in a conference call on May 7th, 2024. Investors can access the call via phone or webcast.
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Ballard Power Systems (BLDP) secures $54 million investment tax credits from the U.S. IRS for clean energy manufacturing projects. The company plans to use the funds to build a new fuel cell Gigafactory in Rockwall, Texas, aligning with the national push for decarbonization and zero-emission transport. The total federal funding of $94 million, including previous DOE grants, will support advanced manufacturing of fuel cells, aiming for high production volumes by late 2027.
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FAQ

What is Ballard Power Systems Inc. known for?

Ballard Power Systems Inc. is renowned for its leadership in Proton Exchange Membrane (PEM) fuel cell technology, which is used in heavy-duty motive applications, material handling, and stationary power generation.

What recent achievements has Ballard made?

Ballard recently signed a Long Term Supply Agreement with Solaris Bus & Coach for 1,000 hydrogen fuel cell engines and received $54 million in investment tax credits to build a new Gigafactory in Rockwall, Texas.

What are Ballard’s core products?

Ballard's core products include PEM fuel cell engines for buses, trucks, rail, marine applications, and stationary power generation solutions.

Where does Ballard operate?

Ballard operates globally with significant market presence in the United States, Europe, and China.

What is the FCmove®-XD?

The FCmove®-XD is Ballard’s latest high-performance fuel cell engine, offering improved reliability, durability, efficiency, and reduced total cost of ownership for heavy-duty applications.

How does Ballard contribute to sustainability?

Ballard contributes to sustainability by providing zero-emission PEM fuel cell solutions that enable the electrification of mobility and stationary power, reducing carbon emissions and promoting clean energy.

What financial support has Ballard received recently?

Ballard received $54 million in investment tax credits from the U.S. IRS and $40 million in grants from the U.S. Department of Energy to support the build-out of their new fuel cell Gigafactory.

What is Ballard's vision?

Ballard’s vision is to deliver fuel cell power for a sustainable planet, focusing on zero-emission solutions for mobility and stationary power.

Who are Ballard’s major partners?

Ballard’s major partners include Solaris Bus & Coach and Wrightbus, among others, who are key players in deploying hydrogen-powered transit solutions in Europe.

How can I learn more about Ballard's financial performance?

You can learn more about Ballard's financial performance by visiting their website at www.ballard.com and accessing their financial reports and investor presentations.

Ballard Power Systems Inc.

Nasdaq:BLDP

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