ballard power systems inc (BLDP) Key Developments
Ballard Power Systems Receives Order for Technology Solutions Project with Nisshinbo Holdings Inc
May 26 15
Ballard Power Systems announced that it has received a purchase order from Nisshinbo Holdings Inc. for the next phase of Technology Solutions project work related to the development of a catalyst technology intended to reduce manufacturing cost of certain proton exchange membrane (PEM) fuel cells. The project has now been underway for approximately 2-years.
Ballard Receives Order for Additional Next Gen Fuel Cell Bus Module from Solaris
May 13 15
Ballard has received a follow-on order from Solaris Bus &Coach (Solaris) for a fuel cell power module to be used in a zero-emission bus planned for deployment in Europe. The next-generation FCvelocity-HD7 power module will be incorporated into a new 24 meter (80 foot) fuel cell bus design. Delivery of the power module to Solaris is planned for later this year. The first two Solaris buses powered by Ballard's FCvelocity-HD7 fuel cell power module were presented to Hamburger Hochbahn AG transit operator for the City of Hamburg, Germany as part of an operations trial in December 2014.
Ballard Power Systems Receives Initial 100 Unit Order from Reliance Jio Infocomm Limited for Backup Power Systems in India
Apr 29 15
Ballard Power Systems announced that it has received a purchase order from Reliance Jio Infocomm Limited (RJIL) for 100 ElectraGen(TM)-ME fuel cell backup power systems to be deployed in its wireless telecom network in India. Shipment of these initial 100 systems is expected to be completed in 2015. The purchase order follows successful completion of an extensive 12-month trial by RJIL of fuel cell systems from various vendors, with Ballard's ElectraGen(TM)-ME methanol-fueled system ultimately having been selected for use in backup power applications. This purchase order is the first of a series of planned deployments in RJIL's India network.
Ballard Power Systems Announces Consolidated Financial Results for the First Quarter Ended March 31, 2015; Provides Revenue Guidance for the Second Half of 2015
Apr 29 15
Ballard Power Systems announced unaudited consolidated financial results for the first quarter ended March 31, 2015. For the quarter, the company reported total fuel cell products & services revenue of $9.3 million against $14.0 million a year ago. Adjusted LBITDA was $5.1 million against $1.8 million a year ago. Net income was $7.0 million or $0.05 per share against net loss of 3.8 million or $0.03 per share a year ago. Normalized net loss was $8.2 million or $0.06 per share against $3.7 million or $0.03 per share a year ago. Cash used by operating activities was $5.4 million against $6.6 million a year ago.
Results from operating activities were negative $7,219,000 against $4,125,000 a year ago. Profit before income taxes was $6,693,000 against loss before income taxes of $4,112,000 a year ago. Net profit from continuing operations for period was $6,690,000 against net loss from continuing operations for period of $4,189,000 a year ago. Additions to property, plant and equipment was $340,000 against $109,000 a year ago. Additions to intangible assets were $87,000 a year ago. EBITDA attributable to the company was $8,278,000 against LBITDA attributable to the company of $2,302,000 a year ago.
The company continues to expect 2015 revenue to be heavily weighted in the second half of the year.
Ballard Inks Deal to Supply Next-Generation Fuel Cell Power Product for Eight Buses in China
Apr 15 15
Ballard Power Systems Inc. announced that it has received an order from a Chinese customer to supply its next-generation FCvelocityTM-HD7 power modules for 8 buses to be deployed in a number of Chinese cities. Ballard expects to ship all of the modules in 2015. China's rapid economic expansion over the recent past is resulting in public concern regarding deteriorating levels of air quality. As a result, the Government is investing heavily in the renewable energy industry and on actions designed to save energy and reduce emissions. The size and rapid growth of China's economy has resulted in considerably larger carbon dioxide emissions than other nations. In 2013, for example, China's carbon dioxide emissions from fossil fuels accounted for 29% of the global total, compared to 15% from the United States.