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 (NASDAQ: BLDP) announced plans to provide fuel cell modules to Sierra Northern Railway for a zero-emission switching locomotive. The project is partially funded by a $4 million award from the California Energy Commission, with a purchase order expected by mid-2021. Ballard's 200-kilowatt FCmove®-HD modules will be delivered by 2022, aiming to replace diesel locomotives and enhance air quality. The initiative could reduce diesel use by over 12 million gallons annually, promoting zero-emission technologies in California's rail industry.
Ballard Power Systems (NASDAQ: BLDP) will host a conference call on May 4, 2021, at 8:00 a.m. PT to discuss Q1 2021 operating results. Interested parties can join the call by dialing +1-604-638-5340 or via a live webcast on their website. The event will be archived in the 'Earnings, Interviews & Presentations' section post-call. Ballard aims to provide zero-emission PEM fuel cells for various mobility applications, promoting a sustainable planet.
Ballard Power Systems (NASDAQ: BLDP) announced the filing of a final short form base shelf prospectus, allowing it to offer securities up to an aggregate initial offering price of US$1.5 billion over 25 months, effective until April 2023. The prospectus has been filed across Canada and a corresponding shelf registration statement with the US SEC. These filings provide the Company flexibility for future capital raises, although sales cannot occur until the registration statement becomes effective.
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.