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 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 An archived version of the webcast will be available in the 'Earnings, Interviews & Presentations' section of the 'Investors' area post-call.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.
Ballard Power Systems (NASDAQ: BLDP) has secured follow-on orders for 15 of its 85-kilowatt FCveloCity®-HD fuel cell modules from Wrightbus to power Fuel Cell Electric Buses (FCEBs) in the U.K. This brings the total orders from Wrightbus to 50 modules, with expectations to ship all in 2020. The U.K. government announced a £5 billion plan to enhance bus infrastructure and deploy at least 4,000 zero-emission buses. Ballard is part of the H2Bus Consortium, promoting zero-emission buses across Europe, aligning with the European Green Deal.