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. (BLDP) generates regular news flow through operational updates, product launches, commercial orders and financial disclosures related to its PEM fuel cell business. The company reports on its activities in Heavy-Duty Mobility, Stationary Power, and Emerging and Other Markets, covering applications such as buses, commercial trucks, trains, marine vessels, stationary power systems, material handling and off-road uses.
Investors and industry followers can expect earnings releases and quarterly results that detail revenue from fuel cell products and services, gross margin performance, operating expenses, cash operating costs, adjusted EBITDA, cash and cash equivalents, and order backlog. These updates often highlight deliveries to bus and rail customers in North America and Europe, as well as developments in marine and stationary markets.
Ballard’s news also features product and technology announcements, including new modules in its FCmove® family for transit buses and the FCwave™ marine fuel cell engine. For example, the company has announced the FCmove®-SC, a new-generation transit fuel cell module designed for city buses, and has reported on orders for FCwave™ engines for deployment on vessels operated on European routes.
Additional coverage includes strategic and corporate updates such as leadership transitions, strategic realignment initiatives aimed at cost discipline and market focus, and changes to corporate service providers like transfer agents. Conference call announcements accompany major financial releases, providing details for live webcasts and replays.
This news page for BLDP aggregates these disclosures so readers can follow Ballard’s financial performance, commercial progress in heavy-duty mobility and marine projects, product evolution in PEM fuel cells, and key corporate developments over time.
Ballard Power Systems (NASDAQ: BLDP) reported Q2 2024 results with revenue of $16.0 million, up 4% year-over-year. Heavy Duty Mobility revenue increased 55% to $13.2 million, while Stationary and Emerging Markets revenues declined. Gross margin was -32%, a 5-point improvement from Q1 2024 but 11 points lower year-over-year. Net loss widened to ($31.5) million or ($0.11) per share. Cash and equivalents stood at $678.0 million. The company launched its 9th generation PEM fuel cell engine and made progress on advanced manufacturing initiatives. Order intake was softer at $5.0 million, with backlog at $169.5 million. Ballard expects 2024 revenue to be heavily second-half weighted and reduced Capital Expenditure guidance to $25-$40 million.
Ballard Power Systems (NASDAQ: BLDP) has scheduled a conference call on August 12, 2024, at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time) to discuss its second quarter (Q2) 2024 operating results. Investors and analysts can access the live call by dialing +1-844-763-8274 (Canada/US toll free) or via a live webcast available on Ballard's homepage. The webcast will be archived for later access in the 'Earnings, Interviews & Presentations' section of the 'Investors' area on the company's website.
Ballard Power Systems (NASDAQ: BLDP) and Vertiv (NYSE: VRT) announced a strategic partnership focused on hydrogen-powered fuel cell backup solutions for data centers. This partnership aims to address the rising power demands and carbon footprint concerns of the data center industry. A proof of concept demonstrated the integration of Ballard's fuel cell modules with Vertiv's Liebert EXL S1 UPS. The system showcased successful zero GHG emissions and scalability from 200kW to several MWs. The partnership also aligns with Vertiv's sustainability strategy and will focus on markets in North America, Europe, and selected other regions.
Ballard Power Systems (NASDAQ: BLDP) released its 2023 ESG Report on June 10, 2024, highlighting significant progress in environmental, social, and governance performance.
Key achievements include 98% of global buildings using renewable electricity, a 33% reduction in building emissions, a 37% decrease in energy intensity per employee, and an increase in female leadership to 43%.
The report also introduces Ballard's plans for carbon neutrality by 2030, expanded GHG emissions inventory, and the establishment of a DEI Council.
Ballard's ESG disclosures align with GRI and SASB standards under the 'Fuel Cell and Industrial Batteries' sector.
Ballard Power Systems (NASDAQ: BLDP, TSX: BLDP) announced the results of its 2024 Annual General Meeting held on June 5th. All director nominees listed in the Management Proxy Circular were re-elected with strong majority votes. Key resolutions passed include the re-appointment of KPMG LLP as auditors, approval of the executive compensation approach, and the 's equity-based compensation plans.
Highlights include: Kathy Bayless (97.30% votes for), Michael Chen (98.18%), Jacqueline Dedo (98.88%), and other directors receiving high approval rates. Additionally, the auditor appointment was approved by 86.26%, executive compensation by 80.15%, and equity-based compensation plans by 80.82% of the votes.
The detailed voting results reflect shareholder confidence and strategic alignment with the company's management.
Element 1 Corp has partnered with Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) to advance sustainable hydrogen energy solutions. Their collaboration successfully linked Ballard’s FCwave™ 200-kW fuel cell module with Element 1’s M/L18 hydrogen generator, producing 235 kg of high-purity hydrogen daily at a pressure range of 0.7 to 2.2 barg. This outcome, achieved through software modifications, allows the FCwave™ to function without hardware changes. Element 1’s generator uses a methanol-water mix, lowering hydrogen production costs and eliminating the need for compressed or liquid hydrogen infrastructure. This innovation promises operational cost savings and reduced carbon intensity if renewable methanol is used.
Ballard Power Systems (NASDAQ: BLDP) has introduced its 9th generation fuel cell engine, the FCmove®-XD, at the ACT Expo 2024 in Las Vegas. The new engine boasts the highest volumetric power density in the industry, with significant improvements in reliability, efficiency, and cost-effectiveness. The scalable 120 kW engine can deliver up to 360 kW of power with a design life exceeding 30,000 hours, making it ideal for heavy-duty applications. Key features include a 33% reduction in parts count, over 60% system efficiency, a wide operating temperature range, and compliance with safety standards. Initial manufacturing will take place in Oregon, with high-volume production planned for Texas.
Ballard Power Systems reported solid Q1 2024 results with $64.5 million in new orders, a 38% increase in the Order Backlog, and revenue growth of 9%. The company announced non-dilutive funding of $94 million for their Rockwall Gigafactory and ended the quarter with $720.7 million in cash and cash equivalents. Despite a net loss from continuing operations, Ballard is optimistic about growth in 2025.
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