Ballard Power Stock Price, News & Analysis

Ballard Power Systems (NASDAQ: BLDP) announced the filing of a preliminary short form base shelf prospectus allowing for securities offerings over the next 25 months. This will enable offerings up to US$1.5 billion until April 2023. The prospectus has been filed across Canada and a corresponding registration statement with the U.S. SEC. The final prospectus is expected in April 2021, replacing the June 2020 shelf prospectus.

Ballard Power Systems (NASDAQ: BLDP) announced that its proton exchange membrane (PEM) fuel cells have powered Fuel Cell Electric Vehicles (FCEVs) for over 75 million kilometers, primarily in China. This milestone highlights Ballard's leadership in zero-emission technologies for Heavy- and Medium-Duty applications, including buses and trucks. The company's experience contributes to reliable, durable products, with 80% of the distance achieved in China and extensive field operations proving their long-term performance. The total market for zero-emission modules is projected to exceed $130 billion annually.

Ballard Power Systems (NASDAQ: BLDP) announced its FCmove® fuel cell module is powering New Zealand's first Fuel Cell Electric Bus (FCEB), built by Global Bus Ventures. This FCEB, tested in Rolleston, is set for deployment with Auckland Transport later this month. New Zealand aims for net zero emissions by 2050, supporting projects like this bus. Both companies emphasize the importance of fuel cells in heavy-duty applications, highlighting Ballard's expertise in the sector.

Ballard Power Systems (BLDP) reported Q4 revenue of $28.6 million and full year revenue of $103.9 million, reflecting a 32% decrease year-over-year in Q4. Despite challenges from COVID-19, the company made significant strides in its growth strategy, including the commissioning of the Weichai-Ballard joint venture in China. Year-end cash reserves were $763.4 million, a significant increase. However, the gross margin fell to 20% with an adjusted EBITDA loss of $38.9 million for the year. Looking ahead, Ballard plans to increase investments in technology and strategic partnerships.

Ballard Power Systems (NASDAQ: BLDP) announced the appointment of Paul Dobson as Senior Vice-President and Chief Financial Officer, effective March 29, 2021. He replaces retiring CFO Tony Guglielmin, who served since 2010 and will assist in the transition until May 31, 2021. Dobson brings over 25 years of experience, particularly in the energy sector, and aims to drive growth and pursue M&A opportunities. The appointment follows a comprehensive search process, with Dobson previously serving in senior financial roles at Hydro One and Direct Energy.

Ballard Power Systems (NASDAQ: BLDP) and Canadian Pacific (CP) announced a partnership for CP's Hydrogen Locomotive Program, utilizing Ballard's fuel cell modules to deliver 1.2 megawatts of electricity. This initiative aims to retrofit a diesel locomotive into a hydrogen-powered freight train, marking North America's first such development. Ballard plans to supply six 200-kilowatt modules in 2021, with further integration support. The collaboration emphasizes a commitment to zero-emission rail transport and reflects significant potential in reducing freight train emissions.

Ballard Power Systems (NASDAQ: BLDP) has received follow-on orders from Wrightbus for 50 fuel cell modules to power Fuel Cell Electric Buses (FCEBs) in various U.K. cities. This order is an addition to a previous order of 50 modules shipped in 2020. The JIVE program partially funds these buses, with 120 currently in operation across Europe. Ballard is supplying fuel cell modules for over 85% of the JIVE program's FCEBs, demonstrating its strong market position. The Chief Commercial Operator emphasized the growth potential in the FCEB market and the advantages of fuel cell technology.

Ballard Power Systems (NASDAQ: BLDP) has successfully completed a bought deal offering, raising US$550.19 million by selling 14,870,000 common shares at US$37.00 each. An additional 2,230,500 shares may be purchased by underwriters for over-allotments, potentially bringing in US$82.53 million more. This offering is intended to support Ballard's mission of delivering sustainable fuel cell power for various mobility applications. The common shares are offered through a short form prospectus in Canada (excluding Quebec) and under a registration statement in the U.S.

Ballard Power Systems (NASDAQ: BLDP) has signed a non-binding Memorandum of Understanding (MOU) with Chart Industries for the joint development of integrated hydrogen solutions for heavy-duty transport. This collaboration aims to enhance the adoption of liquid hydrogen fuel systems, focusing on applications like buses and trucks. Ballard will contribute its PEM fuel cell technology, while Chart will provide expertise in liquid hydrogen storage and fueling systems. This partnership aims to deliver cost-effective and efficient solutions as the industry transitions to cleaner energy.