Ballard Power Stock Price, News & Analysis

Ballard and QUANTRON have formed a strategic partnership to develop fuel cell electric trucks, aiming to enhance the market adoption of hydrogen technologies. The collaboration will integrate Ballard's FCmove™ fuel cell modules into QUANTRON's electric truck designs, focusing initially on a range of vehicles including a 7.5t delivery truck and a 44t heavy-duty truck. Initial deliveries are scheduled for the second half of 2022 in Germany, aided by government incentives covering up to 80% of conversion costs from internal combustion engines to alternative drives.

Ballard Power Systems and Hexagon Purus are collaborating to produce Class 6 & 7 Fuel Cell Electric Trucks. These trucks will feature a driving range of over 400 miles and refueling times similar to conventional trucks, contributing to zero-emission transport solutions. The trucks will include Ballard's 8th generation fuel cell module and Hexagon's lightweight hydrogen storage. The first prototype is set for delivery in the second quarter of 2022, with initial fleet deployments planned in California's Los Angeles Basin. This partnership aims to accelerate hydrogen and fuel cell technology adoption in heavy-duty transport.

Ballard Power Systems (NASDAQ: BLDP) announced the appointment of Mr. Hubertus Muehlhaeuser to its Board of Directors, effective August 5, 2021. Muehlhaeuser brings significant experience in industrial manufacturing and growth strategies from his previous executive roles. Chairman Jim Roche emphasized the importance of diverse skills on the Board, noting Muehlhaeuser's expertise will support Ballard's growth strategy, particularly in zero-emission hydrogen fuel cells for heavy-duty mobility applications. Muehlhaeuser aims to enhance shareholder value through ambitious scaling plans.

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.