Ballard Power Stock Price, News & Analysis

Ballard Power Systems (NASDAQ: BLDP) reported Q2 2021 results, registering revenues of $25.0 million, a 3% decrease from Q2 2020. Gross margin was 15%, down 6 percentage points. Cash operating costs surged 80% to $20.1 million, and the company reported a net loss of $21.9 million, up 104% year-over-year. Despite these challenges, cash reserves stood at $1.24 billion, a remarkable 630% increase from the previous year, and the order backlog hit $113.3 million.

Ballard Power Systems (NASDAQ: BLDP) has secured a purchase order for its 200-kilowatt FCwave^TM fuel cell module from Fusion-Fuel for the H2Evora project in Portugal. This project aims to generate zero-emission electricity using green hydrogen produced via Fusion-Fuel's HEVO electrolyzer, with a total output of approximately 15 tons of hydrogen annually. The collaboration supports sustainable electricity generation and showcases applications for hydrogen in various sectors, including natural gas blending and industrial uses.

Ballard Power Systems (NASDAQ: BLDP) has received a purchase order from Siemens Mobility for two 200-kilowatt fuel cell modules to power a Mireo Plus H passenger train during a trial operation in Bavaria, Germany. Scheduled for delivery in 2022, this collaboration marks a significant step toward the commercialization of the hydrogen-powered train. The Mireo Plus H is designed for non-electrified lines, achieving speeds of up to 160 km/h and ranges of 800 km. The trial is backed by Bavarian state ministers and is part of a broader effort to promote zero-emission transportation.

Ballard Power Systems (NASDAQ: BLDP) will host a conference call on August 6, 2021, at 8:00 a.m. PT to discuss its Q2 2021 operating results. Investors can join the call by dialing +1-604-638-5340 or accessing a live webcast on the company’s website. Following the call, an archived version will be available in the 'Investors' section. Ballard focuses on providing zero-emission PEM fuel cells for mobility solutions, promoting a sustainable future.

Ballard Power Systems (NASDAQ: BLDP) announced a purchase order from Tata Motors for 15 FCmove^TM-HD fuel cell modules intended for zero-emission Fuel Cell Electric Buses. Delivery is expected by 2022, with deployment planned in Faridabad, India. This collaboration includes testing fuel cell technology in public transport by the Research & Development Centre of Indian Oil Corporation. With India's focus on green hydrogen to combat pollution, this partnership aligns with market demand for sustainable transportation solutions.

Ballard Power Systems (NASDAQ: BLDP) announced a rebranding to mark its evolution as a leader in zero-emission fuel cell technology. With a focus on commercializing hydrogen solutions over the next decade, the company aims for significant growth through 2030. The rebranding includes a new logo, tagline 'Here for life™', and enhancements to its communication tools. Ballard's PEM fuel cells have logged over 88 million kilometers globally, with more than 3,500 buses and trucks in operation. CEO Randy MacEwen emphasized the critical role of hydrogen in decarbonizing mobility and industry.

Ballard Power Systems (NASDAQ: BLDP) has secured a follow-on purchase order from New Flyer for 20 fuel cell modules intended for deployment in Fuel Cell Electric Buses (FCEBs) with Alameda-Contra Costa Transit District in Oakland, California. This order increases the total number of Ballard-powered FCEBs operated by AC Transit to 31. The California Air Resources Board's Innovative Clean Transit regulation mandates that 100% of transit buses be zero-emission by 2040, driving increased market interest in Ballard's fuel cell technology.

Ballard Power Systems and W. L. Gore & Associates announced a multi-year fuel cell supply agreement aimed at advancing fuel cell technologies. The agreement was celebrated at the 6th International Hydrogen Fuel Cell Vehicle Congress on June 9, 2021, in Shanghai. The collaboration leverages Gore's innovative membrane technology, known as the GORE-SELECT® Membrane, which enhances fuel cell durability and performance. This partnership positions Ballard to support the growing demand for fuel cell solutions globally, particularly in line with China's New Energy plan.

Ballard Power Systems (NASDAQ: BLDP) held its 2021 Annual General Meeting virtually on June 2, 2021, where all director nominees received majority support from shareholders. Douglas P. Hayhurst was re-elected with 95.02% support, while Randy MacEwen and Marty Neese also had strong backing, garnering 98.52% and 98.37% respectively. KPMG LLP was appointed as the company’s auditor, and shareholder votes approved executive compensation plans with 86.52% in favor. The final voting results will be filed on SEDAR.