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 (NASDAQ: BLDP) delivers innovative proton exchange membrane fuel cell solutions for heavy-duty transportation and stationary power markets worldwide. This dedicated news hub provides investors and industry professionals with essential updates on BLDP's technological advancements, strategic partnerships, and market developments.
Access real-time press releases covering product launches, financial results, and supply agreements with global OEMs. Our curated collection includes updates on fuel cell deployments in buses, trucks, marine applications, and stationary power systems - all critical to understanding BLDP's position in the hydrogen economy.
Key content categories include earnings announcements, technology innovations, manufacturing expansions, and regulatory developments impacting clean energy markets. Bookmark this page for streamlined access to BLDP's official communications and third-party analysis of its PEM fuel cell leadership.
Ballard Power Systems (NASDAQ: BLDP) announced its Q2 2022 financial results, reporting revenues of $20.9 million, down 16% year-over-year. The company secured new orders totaling $12.3 million, but faced gross margin compression, finishing the quarter with a gross margin of -11%. Operating expenses surged by 58% to $38.5 million, largely due to increased spending on research and development. Despite a solid cash balance of $1 billion and a backlog of $91.2 million, Ballard revised its 2022 operating expense and capital expenditure guidance downward due to a challenging macroeconomic environment.
Ballard Power Systems (NASDAQ: BLDP) will hold a conference call on August 10, 2022, at 8:00 a.m. PT to discuss its second quarter 2022 operating results. Interested parties can join the call by dialing +1-604-638-5340 or access a live webcast on Ballard's homepage. The call will also be archived for later viewing in the 'Earnings, Interviews & Presentations' section of the website. Ballard focuses on delivering fuel cell power solutions for sustainable mobility and energy.
Ballard Power Systems (NASDAQ: BLDP) held its 2022 Annual General Meeting virtually, where all nominees in the Management Proxy Circular dated April 11, 2022, were re-elected as directors. Election results showed strong support, with Kathy Bayless receiving 99.19% approval. Other resolutions included the appointment of KPMG LLP as auditor, approval of executive compensation with 88.04% votes for, and a quorum amendment with 99.16% approval. Shareholders showed confidence in company leadership and governance.
Forsee Power has announced an order from Ballard Motive Solutions to equip 20 zero-emission Refuse Collection Vehicles with its smart battery systems. This order stems from a partnership established in November 2021, which aims to develop an integrated fuel cell and battery solution. The collaboration is designed to improve technological performance, optimize costs, and enhance service life in the heavy vehicle market. The solution includes Ballard's fuel cells and Forsee's PULSE 2.5 battery systems, allowing for 160 km autonomy.
Ballard Power Systems (NASDAQ: BLDP) appointed David Mucciacciaro as Senior Vice President and Chief Commercial Officer effective May 23, 2022. Mucciacciaro, with over 25 years of experience in global commercial leadership from the automotive industry, succeeds Rob Campbell, who is retiring after five years. CEO Randy MacEwen expressed excitement about Mucciacciaro’s expertise as the company transitions to commercial scale deployment in the hydrogen fuel cell market. Campbell will assist in the transition until July 2022.
Ballard Power Systems and Linamar Corporation unveiled a concept hydrogen fuel cell powered class 2 truck chassis at ACT Expo, showcasing advancements in their strategic partnership formed in May 2021. This chassis features Ballard's 8th generation heavy duty fuel cell module, FCmove-HD+, which is more compact and efficient, promising lower lifecycle costs. The platform incorporates Linamar's innovative Rolling Chassis concept and FlexForm hydrogen storage system, enhancing hydrogen storage efficiency. Both companies aim to lead in zero-emission vehicle technology for class 1 and 2 trucks.
Ballard Power Systems (NASDAQ: BLDP) announced a strategic collaboration with Wisdom Motor Company, Templewater Group, and Bravo Transport Services to promote fuel cell electric vehicles (FCEV) in Hong Kong. The partnership includes a Series A funding for Wisdom to enhance R&D and manufacturing of zero-emission vehicles. Ballard will supply its PEM fuel cell technology for Wisdom's products. The collaboration aims to replace Bravo's fleet of over 1,700 buses with zero-emission models by 2050, aligning with Hong Kong's net carbon neutrality goals.
Ballard Power Systems (NASDAQ: BLDP) reported Q1 2022 consolidated financial results, achieving $21.0 million in revenue, a 19% year-over-year increase. New orders reached $27.8 million, primarily from Europe. Operating expenses rose to $30.3 million, a 69% increase compared to Q1 2021, and gross margin fell to (1%), down 16 points. Cash reserves totaled approximately $1.1 billion, supporting growth strategy amidst inflationary pressures. The company maintains its 2022 guidance for operating expenses between $140-$160 million.
Ballard Power Systems (NASDAQ: BLDP) has scheduled a conference call for May 9, 2022, at 8:00 a.m. Pacific Time to discuss its first quarter 2022 operating results. Investors can participate by calling +1-604-638-5340 or joining a live webcast available on Ballard's website. The call will provide insights into the company’s financial performance and strategic direction in the context of its vision for a sustainable planet through fuel cell technology.
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