Ballard announces commercial agreement with New Flyer for 50 MW of fuel cell bus engines

Ballard Power Systems (NASDAQ: BLDP) reached a commercial agreement with New Flyer for 500 FCmove®-HD+ fuel cell engines (50 MW), the largest single commitment from New Flyer to date.

Rhea-AI Summary

Ballard Power Systems (NASDAQ: BLDP) reached a commercial agreement with New Flyer for 500 FCmove®-HD+ fuel cell engines (50 MW), the largest single commitment from New Flyer to date. Deliveries begin in 2026 to power Xcelsior CHARGE FC hydrogen buses across North America. Ballard cites a global installed base of >2,200 buses, 250 million logged kilometers and 98% availability, and highlights complementary Ballard Fleet Services including training, parts, monitoring and stack servicing to support fleet performance.

Positive

• Order for 500 engines (50 MW) — largest New Flyer commitment
• Deliveries starting in 2026
• Supports New Flyer's Xcelsior CHARGE FC hydrogen buses
• Ballard fleet scale: >2,200 buses and 250 million km logged
• 98% availability reported for Ballard-powered fleets

Negative

• None.

Argus Mar 11 session

+9.14% close to close Open Argus

Details

News Market Reaction – BLDP

On Mar 11, the first trading day after this news, BLDP closed 9.14% above the previous close.

Data tracked by StockTitan Argus for the Mar 11 session.

Key Figures

Fuel cell engines: 500 units Total power: 50 MW Delivery start: 2026 +5 more

Fuel cell engines

500 units

FCmove®-HD+ engines in New Flyer agreement

Total power

50 MW

Aggregate power of 500 fuel cell bus engines

Delivery start

2026

Deliveries of engines for New Flyer buses

Deployed buses

More than 2,200

Ballard-powered fuel cell buses worldwide

Distance logged

Over 250 million kilometers

Cumulative distance by Ballard-powered bus fleets

Fleet availability

98%

Availability of Ballard-powered fuel cell bus fleets

Safety incidents

Zero reported

Reported safety incidents in Ballard-powered bus fleets

Partnership duration

More than a decade

Length of relationship between Ballard and New Flyer

Historical Context

5 past events · Latest: Feb 11

5 events

1. Feb 11

   Earnings call announcement

   24h Move

   -4.2%

   Announcement of Q4 and full-year 2025 results conference call timing and access.

2. Nov 13

   Earnings results

   24h Move

   -7.0%

   Q3 2025 results with higher revenue, improved margins, and reduced operating costs.

3. Oct 15

   Corporate update

   24h Move

   -5.5%

   Change of transfer agent to Odyssey Trust Company for shareholder record services.

4. Oct 09

   Earnings call announcement

   24h Move

   -0.6%

   Scheduling and access details for the Q3 2025 results conference call.

5. Sep 17

   Product launch

   24h Move

   +4.0%

   Launch of FCmove®-SC fuel cell with higher power and efficiency for transit buses.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

fuel cell, hydrogen fuel cell, zero-emission

3 terms

fuel cell technical

"agreement for 500 FCmove®-HD+ fuel cell engines, totaling 50 MW"

A fuel cell is a device that turns chemical energy from a fuel, most often hydrogen, directly into electricity through a controlled chemical reaction, with water and heat as the main byproducts. Investors care because fuel cells can offer cleaner, longer-range power for vehicles, buildings and industry compared with traditional engines or batteries; advances can lower costs, shift demand for fuels and components, and open new markets much like a more efficient engine reshapes transportation.

hydrogen fuel cell technical

"New Flyer's Xcelsior CHARGE FC™ hydrogen fuel cell buses across North America"

A hydrogen fuel cell is a device that generates electricity by combining hydrogen and oxygen, producing water and heat instead of burning fuel — think of it like a battery that runs as long as you supply hydrogen. Investors care because fuel cells can reshape energy and transportation markets by lowering emissions, changing operating costs, creating new revenue streams, and exposing companies to technology, supply-chain and regulatory risks or incentives.

zero-emission technical

"well positioned to accelerate zero‑emission deployments across North America"

Zero-emission describes products, vehicles, processes or facilities that do not release pollutants or greenhouse gases into the air during their operation—like an electric car that produces no tailpipe smoke. For investors it signals lower regulatory and carbon-related risk, potential access to incentives and growing customer demand, and may affect long-term costs, market share and corporate reputation in sectors shifting toward cleaner operations.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

VANCOUVER, BC and WINNIPEG, MB, March 10, 2026 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced reaching a commercial agreement with New Flyer, a subsidiary of NFI Group Inc., ("NFI"; TSX: NFI; www.nfigroup.com), a leading provider of diverse and sustainable mobility solutions in North America and Europe.

The agreement for 500 FCmove^®-HD+ fuel cell engines, totaling 50 MW, represents the largest single commitment from New Flyer since the partnership began. Deliveries, starting in 2026, will power New Flyer's Xcelsior CHARGE FC™ hydrogen fuel cell buses across North America.

"We are proud that New Flyer continues to place their trust in Ballard as their long‑term technology partner, building on a relationship that spans more than a decade. Our fuel cell engines, backed by additional fleet services, deliver the range, rapid refueling, and reliable performance New Flyer's fleets require. With Ballard technology at the core of these vehicles, New Flyer is well positioned to accelerate zero‑emission deployments across North America," said Oben Uluc, Ballard's Sales & Marketing Vice President.

"This agreement is the next step in our long-standing partnership with Ballard and a key component in advancing our leading fuel cell bus offerings," said David White, Executive Vice President, Supply Management, New Flyer. "Over the last decade we've delivered buses powered by Ballard in multiple jurisdictions from coast to coast showing their capability to operate in different environments and routes as a 1-for-1 diesel replacement. With growing demand for fuel cell buses, we are excited to continue this partnership as we support the transition to zero-emission transportation."  

Today, Ballard powered fleets have grown to more than 2,200 fuel cell buses worldwide, collectively logging over 250 million kilometers with 98% availability and zero reported safety incidents. With additional sales of Ballard Fleet Services — including training, technical support, parts supply, operational monitoring, digital insights, and ongoing stack servicing – Ballard and its customers unlock additional value that strengthens fleet performance.

About Ballard Power Systems

Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, as well as stationary power. To learn more about Ballard, please visit www.ballard.com.

This release contains forward-looking statements concerning customer commitments, anticipated product deliveries, customer deployments, and market adoption. These forward-looking statements reflect Ballard's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any such forward-looking statements are based on Ballard's assumptions relating to its financial forecasts and expectations regarding its product development efforts, manufacturing capacity, and market demand.

These statements involve risks and uncertainties that may cause Ballard's actual results to be materially different, including general economic and regulatory changes, detrimental reliance on third parties, successfully achieving our business plans and achieving and sustaining profitability. For a detailed discussion of these and other risk factors that could affect Ballard's future performance, please refer to Ballard's most recent Annual Information Form. Readers should not place undue reliance on Ballard's forward-looking statements and Ballard assumes no obligation to update or release any revisions to these forward-looking statements, other than as required under applicable legislation.

About New Flyer

New Flyer is North America's heavy-duty transit bus leader and offers the most advanced product line under the Xcelsior^® and Xcelsior CHARGE^® brands. It also offers infrastructure development through NFI Infrastructure Solutions™, a service dedicated to providing safe, sustainable, and reliable charging and mobility solutions. New Flyer actively supports over 35,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 8,600 are powered by electric motors and battery propulsion and 1,900 are zero-emission. Further information is available at www.newflyer.com.

Further Information

Ballard Power Systems:
Sumit Kundu – Investor Relations, +1.604.453.3517 or investors@ballard.com

New Flyer:
Melissa Schnee - Media Inquiries, +1.385.910.6861 or Melissa_Schnee@newflyer.com
Stephen King - Investor Inquiries, +1.204.792.1300 or Stephen.King@nfigroup.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/ballard-announces-commercial-agreement-with-new-flyer-for-50-mw-of-fuel-cell-bus-engines-302710150.html

SOURCE Ballard Power Systems Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Ballard (BLDP) announce on March 11, 2026 about New Flyer?

Ballard announced a commercial agreement for 500 fuel cell engines (50 MW) with New Flyer. According to Ballard, deliveries start in 2026 to power New Flyer's Xcelsior CHARGE FC buses across North America.

How many fuel cell engines and total megawatts did Ballard (BLDP) agree to supply New Flyer?

Ballard will supply 500 FCmove-HD+ engines, totaling 50 MW, to New Flyer. According to Ballard, this represents New Flyer's largest single commitment to date and supports expanded hydrogen bus deployments.

When will Ballard (BLDP) begin deliveries to New Flyer and for which buses?

Deliveries to New Flyer begin in 2026 and will outfit Xcelsior CHARGE FC hydrogen fuel cell buses. According to Ballard, the engines enable range, rapid refueling and fleet-ready performance.

What fleet performance metrics did Ballard (BLDP) disclose about its fuel cell buses?

Ballard reports a global installed base of over 2,200 buses, >250 million kilometers logged and 98% availability. According to Ballard, these metrics support reliability claims for transit operators.

What additional services will Ballard provide alongside the fuel cell engines to New Flyer?

Ballard will provide Fleet Services including training, technical support, parts, monitoring, digital insights, and stack servicing. According to Ballard, these services aim to strengthen operational performance and fleet uptime.