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) 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 FCmoveTM-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 FCmoveTM 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 FCmoveTM-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.
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.