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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 divested its Unmanned Aerial Vehicle (UAV) business to Honeywell International. This strategic move focuses on Ballard's core business in Heavy- and Medium-Duty Motive markets, where they anticipate growth through 2030. All UAV employees will transition to Honeywell Aerospace. Financial terms of the transaction remain undisclosed, but both companies plan to collaborate in fuel cell technology for aerospace applications. Ballard's CEO emphasizes a positive outlook for fuel cell propulsion systems in UAV markets, despite divesting the non-core UAV operations.
Ballard Power Systems (NASDAQ: BLDP) will host a conference call on November 6, 2020, at 8:00 a.m. PT to discuss its third quarter 2020 operating results. Interested parties can dial +1-604-638-5340 or access a live webcast via Ballard's homepage. The archived webcast will be available in the 'Earnings, Interviews & Presentations' section of the 'Investors' area on the company's website post-call. Ballard focuses on fuel cell solutions for zero-emission transportation in various sectors.
Ballard Power Systems (NASDAQ: BLDP) successfully hosted its 2020 Investor and Analyst Day virtually on September 29, showcasing its strategic focus on hydrogen and fuel cell technology. Key announcements included the launch of the FCwave fuel cell module for marine propulsion and the FCgen-HPS stack for various vehicle classes. The company also announced a collaboration with MAHLE for zero-emission systems and a 6x expansion in production capacity for membrane electrode assemblies. The event highlighted Ballard's leadership in the clean energy sector.
Ballard Power Systems (NASDAQ: BLDP) has successfully completed its at-the-market equity program, raising US$250 million in gross proceeds. The company issued 16,450,623 common shares at market prices during this program, which began on September 1, 2020. The net proceeds of approximately US$245 million will be allocated for general corporate purposes.
Ballard aims to advance fuel cell technology to promote sustainable energy solutions in multiple transportation sectors.
Ballard Power Systems (NASDAQ: BLDP) announced a significant expansion of manufacturing capacity for its proprietary membrane electrode assemblies (MEAs), increasing production by six times by early 2021. This upgrade will enable production of 6 million MEAs annually, equating to approximately 1.66 Gigawatts of output, positioning the Vancouver facility as the largest fuel cell MEA production site for commercial vehicles globally. The details will be discussed during the Investor and Analyst Day 2020 event on September 29.
Ballard Power Systems (NASDAQ: BLDP) announced a collaboration with MAHLE to develop zero-emission fuel cell systems for commercial trucks. This partnership aims to leverage Ballard's expertise in PEM fuel cell technology and MAHLE's extensive experience in automotive components. The market for commercial truck engines is projected at $100 billion annually, with growing demand for zero-emission solutions driven by regulatory policies. MAHLE brings key attributes such as supply chain strength and after-sales infrastructure to the project, enhancing the prospects for successful product commercialization.
Ballard Power Systems (NASDAQ: BLDP) acknowledged China's new policy aimed at promoting Fuel Cell Electric Vehicles (FCEVs) in selected regions. This initiative targets 1 million FCEVs on roads by 2030, aligning with global decarbonization efforts. The policy supports the recent commissioning of the Weichai-Ballard joint venture, which boasts over 1 GW annual manufacturing capacity for fuel cell stacks. Ballard aims to leverage its significant share in the existing 7,200 FCEVs in China and will provide further insights during the Investor and Analyst Day on September 29, 2020.
Ballard Power Systems (NASDAQ: BLDP) will host a virtual Investor and Analyst Day 2020 on September 29, 2020, at 7:00 AM PT. This event aims to share insights on the PEM fuel cell sector and Ballard's strategy, amidst rising interest in the hydrogen economy.
Participants will hear from the company's leadership and a panel of clean energy experts. Key agenda topics include corporate strategy, market updates from China, Europe, and North America, and the product roadmap. More details are available on the company’s website.
Ballard Power Systems (NASDAQ: BLDP) launched the FCgen®-HPS, a high-performance, zero-emission fuel cell stack for various vehicles, achieving a volumetric power density of 4.3 kW/L. Designed to automotive standards in collaboration with AUDI, this new product supports applications in bus, rail, marine, construction, and aerospace sectors. The FCgen®-HPS boasts a maximum power output of 140 kW and rugged cold-weather capabilities. Ballard signed a non-binding Memorandum of Understanding with AUDI to expand the product's usage across all applications, including trucks and passenger cars.
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