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VANCOUVER - Ballard Power Systems (NASDAQ: TSX:BLDP) (TSX: BLDP), currently valued at $336.66 million in market capitalization, has entered into a multi-year supply agreement with Egypt-based Manufacturing Commercial Vehicles (MCV), marking a significant step in the company’s expansion in the global bus market. The deal encompasses the provision of 50 FCmove®-HD+ engines, with an initial batch of 35 units to be delivered. According to InvestingPro data, Ballard maintains a strong liquidity position with a current ratio of 9.01, indicating robust short-term financial stability.
This agreement builds on the existing partnership between Ballard and MCV, which began in 2022 with integration support and saw its first engine order in 2023. The delivery of the 50 engines is scheduled between 2025 and 2026, aimed at supporting projects within the European Union. While the company has demonstrated revenue growth of 24.01% in the last twelve months, InvestingPro analysis suggests the stock is currently undervalued, with multiple growth opportunities ahead. For detailed insights and valuation metrics, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
Oben Uluc, Ballard’s Vice President for Europe Sales & Marketing, expressed enthusiasm about the continued collaboration with MCV. He highlighted Ballard’s 2024 performance, which saw 1,600 bus engine orders from seven OEMs, and anticipates further growth in the fuel cell bus market.
Ballard’s technology is currently powering over 1,800 fuel cell buses around the world, achieving over 200 million miles in service. The company touts a 99% availability rate for its fuel cell engines, emphasizing their reliability, safety, and efficiency as alternatives to traditional diesel engines. Trading near its 52-week low of $1.11, the stock presents an interesting opportunity for investors focused on the clean energy transition. InvestingPro subscribers have access to over 20 additional key metrics and analyst insights that can help evaluate this investment opportunity.
The Vancouver-based firm specializes in zero-emission proton exchange membrane (PEM) fuel cells, catering to various transportation modes, including buses, commercial trucks, trains, marine vessels, and stationary power applications.
The press release also contains forward-looking statements regarding product deliveries, customer deployments, and market adoption, which are subject to risks and uncertainties that could cause actual results to differ materially.
The information in this article is based on a press release statement from Ballard Power Systems.
In other recent news, Ballard Power Systems Inc (NASDAQ:BLDP). has announced a follow-on order for approximately 20 megawatts (MW) of fuel cell engines, intended for North American locomotives, as part of their continued collaboration with Canadian Pacific (NYSE:CP) Kansas City (CPKC). This agreement, which involves the supply of 98 fuel cell engines with a capacity of 200 kW each, highlights the ongoing demand for clean energy solutions in the rail sector. Additionally, Ballard Power has secured multiple new orders exceeding 6 MW for its fuel cell engines to power buses in the European market, demonstrating the growing international interest in sustainable transportation.
Furthermore, Ballard has entered into a deal to supply 8 MW of fuel cell engines to Stadler Rail (SIX:SRAIL) AG for passenger rail in California, aligning with the state’s environmental goals. This initiative underscores Ballard’s commitment to reducing greenhouse gas emissions through innovative clean energy solutions. The company also plans to host a conference call to discuss its fourth quarter and full year 2024 financial results, providing investors an opportunity to gain insights into its financial performance and strategic direction.
These developments reflect Ballard’s strategic efforts to expand its global footprint in the clean energy sector. Investors and industry observers are likely to follow Ballard’s progress closely as it continues to secure orders and partnerships in various markets. The information about these activities was derived from press releases and filings with the U.S. Securities and Exchange Commission.
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