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Ballard Power Systems Inc. (NASDAQ: BLDP; TSX: BLDP) is a global leader in the development, production, and commercialization of Proton Exchange Membrane (PEM) fuel cell products. The company is at the forefront of delivering zero-emission fuel cell solutions that are being increasingly adopted across various heavy-duty and stationary power applications.
Founded in 1979, Ballard has established a sustainable leadership position in PEM fuel cell technology. Their cutting-edge products are designed for applications such as backup power, distributed generation, material handling, and particularly in the heavy-duty motive sector, including buses, trucks, rail, and marine vessels. Ballard's vision is to deliver fuel cell power for a sustainable planet, focusing on enabling the electrification of mobility and stationary power with zero-emission PEM fuel cells.
Recent achievements include the signing of a significant Long Term Supply Agreement (LTSA) with Solaris Bus & Coach for the supply of 1,000 hydrogen fuel cell engines through 2027. This marks the largest order in Ballard's history and underscores their robust relationship with Solaris in promoting fuel cell bus adoption across Europe. Another milestone is the receipt of $54 million in investment tax credits from the U.S. IRS to build a new fuel cell Gigafactory in Rockwall, Texas, supported by the Inflation Reduction Act. This facility will bolster Ballard's production capacity, addressing increasing market demand.
Ballard's product portfolio is bolstered by their newest innovation, the FCmove®-XD, a high-performance fuel cell engine unveiled at the Advanced Clean Transportation Expo. This ninth-generation engine offers significant enhancements in reliability, durability, efficiency, and total cost of ownership, poised to meet the rigorous demands of heavy-duty applications.
Financially, Ballard has shown consistent growth, with notable increases in order backlog and new bookings, reflecting strong customer interest across various market verticals. Their strategic global partnerships and government collaborations further enhance their market position, driving the global transition to clean energy.
Ballard Power Systems continues to advance its mission of enabling a sustainable energy future, pioneering innovations, and expanding its global footprint to meet the growing demand for clean energy solutions.
Ballard Power Systems (NASDAQ: BLDP) has successfully completed a bought deal offering, raising US$550.19 million by selling 14,870,000 common shares at US$37.00 each. An additional 2,230,500 shares may be purchased by underwriters for over-allotments, potentially bringing in US$82.53 million more. This offering is intended to support Ballard's mission of delivering sustainable fuel cell power for various mobility applications. The common shares are offered through a short form prospectus in Canada (excluding Quebec) and under a registration statement in the U.S.
Ballard Power Systems (NASDAQ: BLDP) has signed a non-binding Memorandum of Understanding (MOU) with Chart Industries for the joint development of integrated hydrogen solutions for heavy-duty transport. This collaboration aims to enhance the adoption of liquid hydrogen fuel systems, focusing on applications like buses and trucks. Ballard will contribute its PEM fuel cell technology, while Chart will provide expertise in liquid hydrogen storage and fueling systems. This partnership aims to deliver cost-effective and efficient solutions as the industry transitions to cleaner energy.
Ballard Power Systems (NASDAQ: BLDP) has signed a non-binding Memorandum of Understanding (MOU) with Global Energy Ventures (ASX: GEV) for the development of the C-H2 Ship, a fuel cell-powered vessel designed to transport compressed green hydrogen. The small-scale demonstration will require under 10 MW, scaling up to approximately 26 MW at full capacity, with a storage system for 2,000 tons of hydrogen. Ballard will design the fuel cell system using its FCwave technology while GEV will manage the ship's design and operations. This collaboration emphasizes the role of hydrogen fuel cells in decarbonizing maritime transport.
Ballard Power Systems (NASDAQ: BLDP) will hold a conference call on March 11, 2021 at 8:00 AM PT to discuss its Q4 and full-year 2020 operating results. Investors can join the call by dialing +1-604-638-5340 or watching a live webcast on Ballard's website. The webcast will be archived in the Earnings, Interviews & Presentations section of the Investors area after the call. Ballard focuses on delivering zero-emission PEM fuel cells for various transportation applications, aiming for sustainability.
Ballard Power Systems (NASDAQ: BLDP) announced new orders from Solaris Bus & Coach for 10 FCmove™ fuel cell modules to power hydrogen buses in the Netherlands. The deployment, planned for 2021, aims to replace diesel buses and is part of a significant shift toward zero-emission vehicles. These Solaris Urbino 12 hydrogen buses will collectively travel over 1 million kilometers annually and feature advanced amenities. Funding is partially provided through Europe’s JIVE programs, supporting hydrogen commercialization. Ballard's technology promotes sustainable mobility and positions the company favorably in the growing zero-emissions market.
Ballard Power Systems (NASDAQ: BLDP) has received a purchase order from Arcola Energy for its FCmoveTM-HD fuel cell modules to be used in a hydrogen-powered passenger train, set for demonstration during COP26 in November 2021 in Glasgow. This initiative supports Scotland's goal for net-zero emissions by 2035 and showcases growing interest in fuel cells for heavy-duty transport. The project is backed by Scottish Enterprise and aims to create a deployment-ready hydrogen train with the support of leading industry partners.
Ballard Power Systems (NASDAQ: BLDP) announced the retirement of board member Ian Sutcliffe, effective immediately, citing personal reasons. Sutcliffe, a director since 2013, reflected on the company's progress during his tenure and expressed confidence in Ballard's potential for long-term growth in the hydrogen and fuel cell sector. Chairman Jim Roche acknowledged Sutcliffe's valuable contributions, noting his passion for the business will be missed. The company is well-positioned to capitalize on advancements in zero-emission PEM fuel cells for various mobility applications.
Ballard Power Systems (NASDAQ: BLDP) announced a purchase order for 10 fuel cell modules from Van Hool, aimed at powering A330 buses in Emmen, Netherlands. The modules will be delivered in 2021 for deployment under the JIVE2 program, with a hydrogen refueling station being developed by Shell. The A330 buses will operate with an annual consumption of 60-90 tons of green hydrogen, showcasing Ballard's commitment to zero-emission public transport. CEO Filip Van Hool expressed hopes for increased market integration of fuel cell technology across European cities.
Ballard Power Systems (BLDP) commends Canada's Federal Government for launching the Hydrogen Strategy for Canada, aimed at achieving carbon neutrality by 2050. This strategy positions hydrogen as a key element in decarbonizing sectors such as transit and freight transport, promoting zero-emission fuel cell technologies. Ballard anticipates significant business opportunities and job growth as it boosts its operations in the renewable energy sector. CEO Randy MacEwen highlights the vision of having up to 30% of Canada's energy from hydrogen by 2050, along with a nationwide hydrogen refueling network.
Ballard Power Systems (NASDAQ: BLDP) has signed a collaboration agreement with Eltek Nordic to provide fuel cell backup power solutions for telecom networks in Nordic countries, particularly Norway, Denmark, and Iceland. The partnership leverages Ballard's FCgen®-H2PM fuel cell backup systems, highlighting their reliability and competitive cost over a 15-year lifespan. The collaboration aims to enhance the reliability of critical communication infrastructure, especially during grid outages, and follows previous successful projects between the companies.
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