Ballard Power Stock Price, News & Analysis

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.

Ballard Power Systems (NASDAQ: BLDP) has signed a non-binding Memorandum of Understanding (MOU) with Global Energy Ventures (ASX: GEV) for the development of the C-H2 Ship, a fuel cell-powered vessel designed to transport compressed green hydrogen. The small-scale demonstration will require under 10 MW, scaling up to approximately 26 MW at full capacity, with a storage system for 2,000 tons of hydrogen. Ballard will design the fuel cell system using its FCwave technology while GEV will manage the ship's design and operations. This collaboration emphasizes the role of hydrogen fuel cells in decarbonizing maritime transport.

Ballard Power Systems (NASDAQ: BLDP) will hold a conference call on March 11, 2021 at 8:00 AM PT to discuss its Q4 and full-year 2020 operating results. Investors can join the call by dialing +1-604-638-5340 or watching a live webcast on Ballard's website. The webcast will be archived in the Earnings, Interviews & Presentations section of the Investors area after the call. Ballard focuses on delivering zero-emission PEM fuel cells for various transportation applications, aiming for sustainability.

Ballard Power Systems (NASDAQ: BLDP) announced new orders from Solaris Bus & Coach for 10 FCmove™ fuel cell modules to power hydrogen buses in the Netherlands. The deployment, planned for 2021, aims to replace diesel buses and is part of a significant shift toward zero-emission vehicles. These Solaris Urbino 12 hydrogen buses will collectively travel over 1 million kilometers annually and feature advanced amenities. Funding is partially provided through Europe’s JIVE programs, supporting hydrogen commercialization. Ballard's technology promotes sustainable mobility and positions the company favorably in the growing zero-emissions market.