Welcome to our dedicated page for Ballard Power news (Ticker: BLDP), a resource for investors and traders seeking the latest updates and insights on Ballard Power stock.
Ballard Power Systems Inc. develops and supplies zero-emission proton exchange membrane fuel cell products for heavy-duty mobility and stationary power applications. Company news commonly covers FCmove fuel cell engines, including FCmove-HD+ and FCmove-SC platforms used in hydrogen buses, as well as customer agreements with bus manufacturers and fleet technology partners.
Recurring updates also include consolidated IFRS financial results, order activity, cost-reduction and margin initiatives, product maturity, manufacturing and supply-chain leadership, and conference-call announcements. Ballard's commercial focus spans buses, commercial trucks, trains, marine vessels, material handling, off-road applications and stationary power.
Ballard Power Systems (BLDP) reported Q4 and full-year 2021 financial results, showing total revenue of $36.7 million for Q4, up 28% year-over-year, and $104.5 million for the full year, flat compared to 2020. Power Products revenue surged 77% in Q4 to $26.6 million, driven by sales growth primarily in heavy-duty applications. However, gross margin decreased to 13%, impacted by rising costs. Operating expenses grew by 65% in Q4 and 68% for the year. The company ended Q4 with a cash reserve of $1.1 billion and an order backlog of $93.1 million, signaling positive future prospects.
Ballard Power Systems (NASDAQ: BLDP) and ABB have received an Approval in Principle (AiP) from DNV for a new fuel cell concept capable of generating 3 megawatts (4,000 HP) of power. This milestone confirms the feasibility of the design, paving the way for commercial applications in maritime vessels. The fuel cell solution targets diverse use cases, emphasizing zero-emission operations in sensitive areas. The collaboration builds on three years of joint development, with both companies committed to enhancing efficiency and sustainability in the shipping industry.
Ballard Power Systems (NASDAQ: BLDP) has signed a non-binding MOU with the Adani Group to assess opportunities for collaboration in fuel cell commercialization in India. The partnership aims to explore options for fuel cell manufacturing and deployment in mobility and industrial applications. Adani Group, a major player in renewable energy, has committed to investing US$70 billion in renewable projects, positioning itself to be a leading green hydrogen producer. Both companies are eager to leverage their complementary strengths for India's energy transition.
Ballard Power Systems (NASDAQ: BLDP) will hold a conference call on March 14, 2022, at 8:00 a.m. Pacific Time, to discuss its Q4 and full year 2021 operating results. Investors can join the call by dialing +1-604-638-5340 or accessing the live webcast via Ballard's website. The archived webcast will be available in the 'Earnings, Interviews & Presentations' section of the Investors' area post-call. Ballard focuses on zero-emission PEM fuel cells to support sustainable mobility solutions across various vehicles.
Ballard Power Systems (NASDAQ: BLDP) has delivered two 200 kW FCwaveTM fuel cell modules to Norled A/S, Norway's leading ferry operator, for the world's first liquid hydrogen-powered ferry, MF Hydra. Set to launch later this year, the ferry will carry up to 300 passengers and 80 cars on its triangular route in Norway. The modules, which meet marine industry standards, represent a pivotal advancement in zero-emission maritime technology, aligning with Norway's goal to reduce emissions by 50% by 2030.
Ballard Power Systems (NASDAQ: BLDP) and Chart Industries (NYSE: GTLS) have successfully tested a fuel cell powered by liquid hydrogen. This collaboration, building on a joint development MOU from February 2021, utilized Ballard's FCmove™-HD fuel cell and Chart's HLH2 vehicle fuel system. The testing demonstrated the advantages of liquid hydrogen, offering up to double the range for heavy-duty vehicles without impacting payload. The companies aim to explore potential applications for liquid hydrogen in long-distance transport, including trucks and marine vessels.
Ballard Power Systems (NASDAQ: BLDP) has received an order for eight additional 200 kW fuel cell modules to expand Canadian Pacific's Hydrogen Locomotive Program from one to three locomotives, with delivery expected in 2022. This brings the total number of modules provided by Ballard to 14. The expansion is supported by C$15 million in funding from Emissions Reduction Alberta. The project aims to shift from diesel-electric to hydrogen-electric powertrains, representing a significant move towards decarbonizing heavy-freight transportation.
Ballard Power Systems (NASDAQ: BLDP) has secured orders for 31 hydrogen fuel cell modules, totaling 3 MW, from a leading global construction and electric power manufacturer for tests and deployment across various applications. The delivery is scheduled for 2022 and 2023 to align with integration and testing plans. This marks a significant commercial milestone for Ballard's new FCmove-HD+ engines, showcasing improved efficiency and lower ownership costs, thereby enhancing their competitive edge in zero-emission solutions for heavy-duty applications.
Ballard Power Systems (NASDAQ: BLDP) announced the appointment of Ms. Kathleen Bayless to its Board of Directors effective December 9, 2021. Ms. Bayless will also serve on the Audit Committee, bringing extensive financial management experience from high-growth global organizations. Her background includes executive roles at Synaptics and Komag, alongside her tenure at Ernst & Young. Ms. Bayless aims to support Ballard in accelerating the adoption of zero-emission hydrogen fuel cells and driving long-term shareholder value.
Ballard Power Systems (NASDAQ: BLDP) announced the acquisition of Arcola Energy, a UK-based company specializing in hydrogen fuel cell powertrain integration, for up to US$40 million. The acquisition aims to enhance Ballard's capabilities in supporting OEM customers with fuel cell integration for heavy-duty vehicles. Arcola brings over 10 years of experience and approximately 90 employees. This strategic move aligns with global trends towards zero-emission transportation, especially in light of COP26 discussions on decarbonization, positioning Ballard for growth.