Ballard Power Stock Price, News & Analysis

Ballard Power Systems (NASDAQ: BLDP) and Fusion Fuel (NASDAQ: HTOO) successfully commissioned the H2Évora green hydrogen plant in Portugal on November 10, 2022. The facility, consisting of 15 HEVO-Solar units, will produce 15 tons of green hydrogen annually and reduce CO2 emissions by 135 tons. Ballard provided a 200-kilowatt FCwave fuel cell module for converting hydrogen into electricity, allowing power sales during peak demand. This project demonstrates the viability of hydrogen for flexible energy storage and supports Portugal's green energy goals.

Ballard Power Systems (NASDAQ: BLDP) reported Q3 2022 financial results on Nov. 7, revealing total revenue of $21.3 million, a 15% decrease year-over-year. Power Products revenue fell 2% to $15.9 million. Heavy-Duty revenues grew 8% to $12.1 million, while Material Handling and Technology Solutions revenues declined significantly. Gross margin was at (22)%, down 33 points. The company announced a planned $130 million investment in a Shanghai MEA manufacturing facility. Order backlog increased 11% to $102 million, with Europe contributing over half.

Ballard Power Systems (NASDAQ: BLDP) will hold a conference call on November 7, 2022, at 8:00 a.m. PT to discuss its Q3 2022 operating results. Investors can dial +1-604-638-5340 for access or listen via webcast on www.ballard.com. Following the call, the archived webcast will be available in the 'Earnings, Interviews & Presentations' section of the Investors page. Ballard aims to lead in fuel cell technology for zero-emission applications.

Ballard Power Systems (NASDAQ: BLDP) announced its "local for local" manufacturing strategy aimed at expanding its global footprint in Europe, the U.S., and China through 2030. The company will invest approximately $130 million to establish a new manufacturing facility for membrane electrode assemblies (MEAs) in Shanghai's Jiading District, projected to produce 13 million MEAs annually. This facility will reduce manufacturing costs and support fuel cell engine production for various markets, including a joint venture with Weichai Power. The facility is set to begin operations in 2025.

Ballard Power Systems (NASDAQ: BLDP) has secured an order from Stadler Rail AG to supply six 100 kW FCmove^TM-HD+ fuel cell engines. This contract marks a significant milestone as it will power the first hydrogen train in the United States, set to be operational in San Bernardino, California, by 2024, seating over 100 passengers. The contract, awarded by the San Bernardino County Transportation Authority, also includes the option for more trains in the future. Ballard CEO Randy MacEwen emphasized the role of hydrogen in reducing emissions in transportation.

Ballard Power Systems (NASDAQ: BLDP) announced a significant order for 14 fuel cell modules from Siemens Mobility to power a fleet of seven Mireo Plus H passenger trains, with deliveries starting in 2023. Additionally, Siemens signed a letter of intent for a total of 200 modules over six years, including a firm commitment for 100 modules. This collaboration highlights the advancement of zero-emission commuter rail in Europe, particularly in the Berlin-Brandenburg region, aiming for the trains to be operational by late 2024.

Ballard Power Systems (NASDAQ: BLDP) announced a minority equity investment in Quantron AG to foster fuel cell truck development. This investment is part of a €50 million financing round, enabling Quantron to advance its truck fuel cell vehicle platforms. Ballard will supply 140 FCmove^TM modules, with delivery expected in 2023-2024. The partnership aims to meet the growing demand for zero-emission transport, particularly in Europe and the U.S., with plans to unveil a new fuel cell truck in Germany.

Ballard Power Systems (NASDAQ: BLDP) announced a significant order for fuel cell modules from Medha Servo Drives to support India's first hydrogen-powered trains, contracted by Indian Railways. The project will integrate 8 units of 100 kW FCmove^TM-HD+ fuel cells into two retrofitted diesel-electric trains, expected to reduce CO2 emissions by over 11 tons annually. This initiative aims to enhance economic viability compared to diesel, with a payback period under two years. Modules are slated for shipment in 2023, with trains operational by 2024.

Ballard Power Systems (NASDAQ: BLDP) announced the appointment of Mircea Gradu as Chief Engineering Officer effective August 29, 2022. Gradu brings over 25 years of experience in the automotive industry, particularly in electric vehicles and powertrain development. His expertise is expected to drive the company’s product development for low-cost fuel cell engines. Gradu has held various leadership roles at prominent automotive companies and holds a Doctorate in Engineering. His role will complement existing technology leadership at Ballard, aiming to innovate fuel cell technology for zero-emission engines.