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) 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.
Ballard Power Systems (NASDAQ: BLDP) launched the FCwave™, the fuel cell industry's first module for primary propulsion in marine vessels. This 200-kilowatt (kW) modular unit can scale to multi-megawatt levels, targeted at ferries and other marine applications. Ballard emphasizes zero-emission solutions crucial for meeting the United Nations maritime carbon reduction targets. The FCwave™ offers features like over 30,000 hours of operational lifetime, >55% efficiency, and modular flexibility. It is currently undergoing Type Approval with DNV-GL and will be showcased on September 10, 2020.
Ballard Power Systems (NASDAQ: BLDP) announced it has established an at-the-market Equity Distribution Agreement, allowing for the issuance of up to US$250 million in common shares. This program will be executed through various agents in both the US and Canada, with shares sold at prevailing market prices. The net proceeds will be utilized for general corporate purposes. Sales will begin at the company's discretion and can vary among purchasers. The program was organized under both Canadian and US regulatory frameworks.
Ballard Power Systems (NASDAQ: BLDP) reported Q2 2020 revenue of $25.8 million, a 9% year-over-year increase, with a gross margin of 21%. The company maintained cash reserves of $170.3 million despite challenges posed by COVID-19. Heavy duty motive product shipments surged by 94%, while technology solutions revenue fell 29% due to reduced program scope. Adjusted EBITDA was ($8.6 million), worsening from ($5.0 million) in Q2 2019. Notable contracts include orders from Wrightbus for fuel cell electric buses in the UK and a joint venture in China ramping up production.
