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.
On November 8, 2021, Ballard Power Systems (NASDAQ: BLDP) released its Q3 2021 financial results, reporting revenues of $25.2 million, a 2% decline year-over-year, mainly due to reduced Heavy-Duty Motive segment revenues. Gross margin decreased to 11%, an 8-point drop. Despite these challenges, cash reserves stood strong at $1.2 billion, up 238% from Q3 2020. The company noted significant customer engagement and ongoing investments in technology and partnerships, setting a positive outlook for 2022 with an order backlog of $108.5 million.
Ballard Power Systems (NASDAQ: BLDP) announced orders for 40 FCmoveTM-HD modules, set for deployment in hydrogen fuel cell electric buses across Europe in 2022. The cities involved include Rouen, Pau, and several in Germany, marking a significant expansion of zero-emission buses. With nearly 160 hydrogen FCEBs in service, this represents an 80% increase since October 2020. Additionally, Ballard has around 150 fuel cell modules on order for further deployments, indicating strong growth prospects in the European market.
Ballard Power Systems (NASDAQ: BLDP) will hold a conference call on November 9, 2021 at 8:00 a.m. PT to discuss its third quarter 2021 operating results. Interested parties can join the call by dialing +1-604-638-5340 or via a live webcast on Ballard's website. Post-call, the webcast will be archived for future access. Ballard aims to promote zero-emission PEM fuel cells for various mobility sectors, including buses, trucks, and marine vessels.
Ballard Power Systems (NASDAQ: BLDP) has entered an Equipment Supply Agreement to supply 8 fuel cell modules to Talgo S.A. for its Vittal-One passenger train. Trials are set for early 2022 in Spain, with hopes for commercialization in 2023. This collaboration underscores the growing adoption of zero-emission technology in rail transport, as highlighted by Talgo's commitment to replace diesel with hydrogen. The innovative modular system will allow upgrades from diesel to hydrogen power, helping to reduce carbon footprints and improve mobility.
Ballard Power Systems (NASDAQ: BLDP) announced that its partner HDF Energy has commenced construction on the CEOG Renewstable® Power Plant in French Guiana. This facility is notable as the world's first multi-megawatt baseload hydrogen power plant, featuring the largest green hydrogen storage system for intermittent renewable sources. The $200 million project will integrate solar energy with hydrogen and battery storage to provide stable, zero-emission power for 10,000 households. The two companies expect to deliver the first fuel cell systems by mid-2023.
Ballard Power Systems (NASDAQ: BLDP) announced a significant milestone, achieving over 100 million kilometers powered by its proton exchange membrane (PEM) fuel cell technology in commercial Heavy- and Medium-Duty Motive applications. In the past year, the company has more than doubled its operational kilometers. With around 3,500 buses and trucks currently utilizing its fuel cells globally, Ballard aims to lead in hydrogen fuel cell deployment for medium and heavy-duty applications. The CEO highlighted technological advancements in their 8th generation FCmoveTM-HD+ engine.
Ballard Power Systems (NASDAQ: BLDP) has launched the FCmove™-HD+, targeting the commercial vehicle market. This new power module outputs 100kW and features a design that is over 40% more compact and 30% lighter than its predecessor. The FCmove™-HD+ aims to reduce total lifecycle costs by 40% while maintaining high efficiency and performance. Significant market adoption is anticipated, with initial vehicles expected to be operational in 2022. Ballard continues to lead in hydrogen fuel cell technology, boasting over 100 million kilometers of road experience.
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.