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) has secured a multi-year supply agreement with Manufacturing Commercial Vehicles (MCV), an Egyptian commercial vehicle manufacturer, for approximately 5 MW of fuel cell engines. The agreement includes 50 FCmove®-HD+ engines, with an initial order of 35 units, scheduled for delivery between 2025 and 2026 primarily for EU projects.
This deal builds upon their relationship that began in 2022 with fuel cell engine integration support. The company reported securing 1,600 bus engine orders across 7 OEMs in 2024. Currently, Ballard powers over 1,800 fuel cell buses globally, which have accumulated more than 200 million miles of operational service with a 99% availability rate and zero reported safety incidents.
Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) has announced it will host a conference call on Thursday, March 13th, 2025 at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time) to discuss its fourth quarter and full year 2024 operating results. Participants can join via phone at +1-844-763-8274 (Canada/US toll free) or through a live webcast available on Ballard's website. The webcast will be archived in the 'Earnings, Interviews & Presentations' section of the company's investor relations page.
Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) has secured significant orders for its fuel cell engines from two bus manufacturers targeting the European and UK city bus market. The orders total over 90 fuel cell engines, representing approximately 6.4 megawatts (MW) of total rated power. Chief Commercial Officer David Mucciacciaro highlighted these orders as validation of fuel cells as a zero-emission alternative to diesel engines and confirmation of Ballard engines' capability to meet demanding city bus performance requirements.
Ballard Power Systems has signed a multi-year agreement with Stadler US to supply 8 megawatts of FCmove®-HD+ fuel cell engines for Caltrans' passenger trains. The engines will power Stadler's FLIRT H2 zero-emission trains, with Caltrans ordering 10 trains and an option for 19 more.
This collaboration follows three years of joint development, resulting in the first FRA-compliant hydrogen fuel cell powered passenger train demonstrated in the United States. The fuel cell engines offer a zero-emission alternative to diesel engines with comparable performance metrics including payload, range, reliability, and refueling times, while avoiding the need for costly overhead catenary line infrastructure.
Ballard Power Systems has signed a new Long Term Supply Agreement with Canadian Pacific Kansas City (CPKC) for 98 fuel cell engines, totaling approximately 20 megawatts (MW) of power. Each engine has a 200 kW capacity, with deliveries expected in 2025.
This agreement builds upon their existing partnership started in 2021, which has already delivered about 10 MW of fuel cell engines. CPKC currently operates three hydrogen locomotives, with prototype testing ongoing since 2022. The new engines will support CPKC's expanding hydrogen locomotive program, focusing on switching and freight service applications in Alberta, Canada.
Ballard Power Systems reported challenging Q3 2024 results with total revenue of $14.8 million, down 45% year-over-year. The quarter was marked by a $16.1 million restructuring charge and $147.0 million in non-cash impairments. The company initiated a global corporate restructuring to reduce operating costs by over 30%, including workforce reduction and rationalization of development programs. Net loss was ($204.5) million, or ($0.68) per share. The company's Order Backlog decreased 28% to $122.7 million, while cash position stood at $635.1 million. Bus segment showed growth with revenue up 33% year-over-year.
Ballard Power Systems has received a purchase order for 200 fuel cell engines from New Flyer, representing approximately 20 MW of power. This is the second order under their January 2024 long-term supply agreement, doubling the previous order of 100 engines. The engines, scheduled for delivery in 2025, will power New Flyer's Xcelsior CHARGE FC™ hydrogen fuel cell buses for deployment across multiple US states including California, Washington, Arizona, Nevada, and New York.
Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) has announced its upcoming Q3 2024 Results Conference Call, scheduled for Tuesday, November 5th, 2024 at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time). The call will review the company's third quarter 2024 operating results.
Interested parties can access the live call by dialing +1-844-763-8274 (Canada/US toll-free) or through a live webcast available on Ballard's homepage (www.ballard.com). Following the call, the webcast will be archived in the 'Earnings, Interviews & Presentations' area of the 'Investors' section on Ballard's website.
Ballard Power Systems (NASDAQ: BLDP) announced a global corporate restructuring to reduce operating expenses by over 30% due to delayed market adoption of hydrogen fuel cells. The restructuring includes workforce reduction, product development rationalization, operational consolidation, and capital expenditure cuts. Ballard is reviewing its China strategy and the Weichai Ballard joint venture. The company maintains its 2024 guidance for Total Operating Expense and Capital Expenditures. Key management changes include Kate Igbalode succeeding Paul Dobson as CFO and Lee Sweetland replacing Mark Biznek as COO by the end of 2024.
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.