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) will host a virtual Investor and Analyst Day 2020 on September 29, 2020, at 7:00 AM PT. This event aims to share insights on the PEM fuel cell sector and Ballard's strategy, amidst rising interest in the hydrogen economy.
Participants will hear from the company's leadership and a panel of clean energy experts. Key agenda topics include corporate strategy, market updates from China, Europe, and North America, and the product roadmap. More details are available on the company’s website.
Summary not available.
Ballard Power Systems (NASDAQ: BLDP) launched the FCgen®-HPS, a high-performance, zero-emission fuel cell stack for various vehicles, achieving a volumetric power density of 4.3 kW/L. Designed to automotive standards in collaboration with AUDI, this new product supports applications in bus, rail, marine, construction, and aerospace sectors. The FCgen®-HPS boasts a maximum power output of 140 kW and rugged cold-weather capabilities. Ballard signed a non-binding Memorandum of Understanding with AUDI to expand the product's usage across all applications, including trucks and passenger cars.
Ballard Power Systems (NASDAQ: BLDP) launched the FCwave™, the fuel cell industry's first module for primary propulsion in marine vessels. This 200-kilowatt (kW) modular unit can scale to multi-megawatt levels, targeted at ferries and other marine applications. Ballard emphasizes zero-emission solutions crucial for meeting the United Nations maritime carbon reduction targets. The FCwave™ offers features like over 30,000 hours of operational lifetime, >55% efficiency, and modular flexibility. It is currently undergoing Type Approval with DNV-GL and will be showcased on September 10, 2020.
Ballard Power Systems (NASDAQ: BLDP) announced it has established an at-the-market Equity Distribution Agreement, allowing for the issuance of up to US$250 million in common shares. This program will be executed through various agents in both the US and Canada, with shares sold at prevailing market prices. The net proceeds will be utilized for general corporate purposes. Sales will begin at the company's discretion and can vary among purchasers. The program was organized under both Canadian and US regulatory frameworks.
Ballard Power Systems (NASDAQ: BLDP) reported Q2 2020 revenue of $25.8 million, a 9% year-over-year increase, with a gross margin of 21%. The company maintained cash reserves of $170.3 million despite challenges posed by COVID-19. Heavy duty motive product shipments surged by 94%, while technology solutions revenue fell 29% due to reduced program scope. Adjusted EBITDA was ($8.6 million), worsening from ($5.0 million) in Q2 2019. Notable contracts include orders from Wrightbus for fuel cell electric buses in the UK and a joint venture in China ramping up production.
Ballard Power Systems (NASDAQ: BLDP) announced that its fuel cell technology has powered Fuel Cell Electric Vehicles (FCEVs) for over 50 million kilometers, a significant achievement increasing more than five times since 2017. This milestone includes approximately 1,000 Fuel Cell Electric Buses and 2,200 commercial trucks, with 70% of the distance covered in China. The company emphasizes its fuel cells' reliability and performance as the industry pivots towards zero-emission transportation.
Ballard Power Systems (NASDAQ: BLDP) will conduct a conference call on August 6, 2020, at 8:00 a.m. PT to discuss its Q2 2020 operating results. This call is crucial for analysts and investors to gain insights into the company's performance and future prospects. The live call can be accessed by dialing +1-604-638-5340 or via a live webcast on the company’s homepage. An archived version of the webcast will be available in the 'Earnings, Interviews & Presentations' section of the 'Investors' area post-call. For further details, visit www.ballard.com.
Ballard Power Systems (NASDAQ: BLDP) recently secured a purchase order worth $7.7 million for membrane electrode assemblies (MEAs) from Guangdong Synergy Ballard Hydrogen Power Co., Ltd., a joint venture in which it holds a 10% stake. This order is part of a long-term supply agreement established in 2019. The MEAs are critical components in fuel cell stacks, which convert hydrogen and oxygen into electricity. Ballard's technology currently powers over 650 buses and 2,200 trucks in China, indicating strong market demand for zero-emission solutions.
On June 25, 2020, the California Air Resources Board (CARB) established the Advanced Clean Truck Regulation, mandating a transition to zero-emission trucks by 2045. Ballard Power Systems (NASDAQ: BLDP) supports this initiative, highlighting the regulation's potential to significantly reduce pollution from trucks, which are responsible for 70% of California's smog. The regulation requires increasing percentages of sales for zero-emission trucks starting in 2024, with Ballard emphasizing the advantages of hydrogen fuel cells for commercial trucks. The global market for fuel cell engines in commercial trucks is estimated at over $120 billion annually.