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BLDP
10+ coming next. Adding here an holding
Ballard announces plan to scale production & reduce costs of next generation bipolar plates
https://ih.advfn.com/stock-market/NASDAQ/ballard-power-systems-BLDP/stock-news/91302043/ballard-announces-plan-to-scale-production-reduc
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BLDP—GLTA!
Ballard & First Mode sign order for 60 additional hydrogen fuel cell modules for zero-emission mining trucks
https://ih.advfn.com/stock-market/NASDAQ/ballard-power-systems-BLDP/stock-news/91219274/ballard-first-mode-sign-order-for-60-additional
Ballard Reports Q1 2023 Results
Source: PR Newswire (US)
VANCOUVER, BC, May 10, 2023 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced consolidated financial results for the first quarter ended March 31, 2023. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards (IFRS).
"Our first quarter revenue of $13.3 million and new order intake of $17.6 million are consistent with our full-year 2023 plan," said Randy MacEwen, President and CEO. "With an increasingly positive policy landscape, we see growing customer interest in our core mobility markets of bus, truck, rail, and marine in Europe and North America. We believe our $137.7 million Order Backlog reflects continued customer platform wins, including a record Power Products Order Backlog that has doubled from one year ago and now exceeds $100 million. This positions us for a busy second half of 2023, where we expect second half revenue to be approximately 70% of our annual total, and an exciting set-up for 2024."
"With our Q1 expenses also on plan, we are tracking to our full-year guidance ranges for operating and capital expenses. We continue to prioritize investments in our technology and product development programs, product cost reduction initiatives, customer platform wins, customer experience, and advanced manufacturing," Mr. MacEwen added.
Mr. MacEwen continued, "As previously communicated, we continue to see gross margin pressures into 2024 given our revenue mix, pricing strategy, investments in production capacity, and timing lag before our production volumes ramp and our product cost reduction initiatives move into production. We ended the quarter with $863.8 million in cash reserves."
"We are looking forward to our upcoming Capital Markets Day on June 13th, where we will provide key updates on long-term business plan, including sales growth in our verticals, gross margin progression, our technology and product roadmap, product cost reduction, capital expenditures, and ESG initiatives. We will also unveil our TCO-driven comparative value proposition model for fuel cell trucks," Mr. MacEwen concluded.
Q1 2023 Financial Highlights
(all comparisons are to Q1 2022 unless otherwise noted)
Total revenue was $13.3 million in the quarter, down 37% year-over-year.
Heavy Duty Mobility revenue of $8.7 million decreased 11%, driven primarily by lower revenues from Technology Services contracts in China relating to our truck vertical, partially offset by higher rail and marine revenue.
Stationary revenue of $2.5 million decreased 58% due primarily to a decrease in sales of stationary power generation fuel cell modules, stacks, products, and services in Australia.
Emerging and Other Markets revenue of $2.1 million decreased 61% due primarily to the completion of the Audi Technology Services program and lower shipments in our Materials Handling segment.
Power products revenue represented more than 70% of our total revenue in the quarter.
Gross margin was (42)% in the quarter, a decrease of 41-points, driven by a combination of a greater weight of power products in the revenue mix, pricing strategy, increased investment in manufacturing capacity, increases in supply and labor costs, and inventory adjustments.
Total Operating Expenses and Cash Operating Costs3 were $37.5 million and $32.0 million, respectively, an increase of 24% and 23%, respectively, from Q1 2022. Increases were driven primarily by higher expenditures on research, technology and product development activities, and sales and marketing activities.
Adjusted EBITDA3 was ($38.3) million, compared to ($27.5) million in Q1 2022, primarily as a result of the decrease in gross margin and increase in Cash Operating Costs.
Ballard received approximately $17.6 million of new orders in Q1, and delivered orders valued at $13.3 million, resulting in an Order Backlog of approximately $137.7 million at end-Q1. Order Backlog growth was driven predominantly by increased orders from Europe and North America in the bus and stationary power markets. These regions combined represent approximately 76% of the total Order Backlog, compared to approximately 39% at end-Q1 2022. Specifically, the Power Products Order Backlog accounts for nearly 75% of our total Order Backlog, an increase of 100% since Q1 2022, and is at the highest level in Ballard's history.
The 12-month Order Book was $73.9 million at end-Q1, an increase of $16.6 million from the end of Q4 2022, an approximately 29% quarter over quarter increase
good to see their stationary solution getting orders. Shame they cant name the European customer, anyone know?
I was surprised we haven't seen any PRs about the Bus solution - I have seen end users ordering in Europe and Assume Ballard is still included ...
all will be revealed in he quarterly report I hope
Hydrogen Energy $BLDP and $IDEX oversold
The hydrogen revolution accelerates
17 MAR 2023
Hydrogen has both flexibility and a high specific energy per unit mass – two attributes that make it uniquely capable at removing emissions from the harder-to-decarbonize parts of the global economy.
According to Goldman Sachs Research:
Hydrogen can be used as an energy fuel, energy vector and feedstock.
Hydrogen can be used to store energy over the long term, propel heavy vehicles, and heat furnaces for the manufacture of steel among other heavy industrial uses.
Hydrogen can get us closer to net zero.
“Green” hydrogen, which is produced by using renewable energy sources to electrolyze water and split it into hydrogen and oxygen, is one of the most promising alternatives to “gray” hydrogen, which relies on natural gas supplies – and produces carbon dioxide that then needs to be released or stored. According to a new report from Goldman Sachs Research, government incentives are powering major strides in green hydrogen investments, particularly in the United States.
The size of clean hydrogen projects is measured by the gigawatts (GW) used to power the electrolysis used in production. By this measure, the market is still in its infancy: At the end of 2020, only about 0.3 GW of capacity was installed.
However, based on projects that have been announced, GS Research estimates as much as 137 GW will be installed by the end of 2030, about 1.7 times more than last year’s estimate of 80 GW. Given the long lead times in creating clean hydrogen production facilities, GS expects even more projects will be announced in the next few years. “Many of the projects for the second half of this decade still have not yet been announced, and are therefore not captured here, implying further upside,” writes Goldman Sachs equity research analyst Michele Della Vigna.
The clean hydrogen industry is scaling up not just in the number of projects planned, but also in the average size of them. The research team estimates that the average project will increase more than 600 times from the current dimensions.
The effects of U.S. policy changes
The U.S. has historically lagged the rest of the world in clean hydrogen development, but the incentives in the Inflation Reduction Act have spurred a development boom in the U.S., with planned installed capacity jumping to 12 GW from 2 GW by 2030. The increase will help the U.S. narrow the gap with the rest of the world, but likely not close it since projects in Europe, Australia and other parts of Asia are also accelerating. The report estimates that Europe will drive the growth of installed capacity, adding 50 GW of cumulative capacity by 2030, followed by Australia with 34 GW, Africa with 25 GW, and Latin America with 17 GW.
“We expect this [U.S. growth] trend to continue further with the introduction of IRA being a game-changer for the production of hydrogen and bringing significant benefits for companies with current or planned hydrogen projects in the U.S.,” Della Vigna writes. According to the report, the law offers several key incentives:
Production tax credits. These 10-year credits apply to developers who produce clean hydrogen beginning this year or begin construction of new facilities before January 1, 2033.
Investment tax credits for energy storage. The IRA expands the scope of existing credits for energy storage to include hydrogen.
Clean vehicle credits. The credits extend to vehicles that use hydrogen fuel cells as well as electric batteries, and offer significant credits for commercial vehicles, for which hydrogen is particularly well suited.
Alternative fuel credits. The IRA provides property tax credits for expanding alternative fueling stations, which will encourage more hydrogen transportation infrastructure.
By the team’s estimation, a $3 tax credit for every two kilograms of hydrogen produced would lower the cost of clean hydrogen to that of hydrogen currently produced with fossil fuels. “This effectively fully bridges the cost gap between grey hydrogen and green hydrogen from renewable power,” according to the report.
LOL ... I see that Ballard is under $5.00. Someone might not be happy with this development.
Don''t blame me ... Blame management.
jammy - Thank you for your contribution to this board.
So do you think Ballard and PLUG are all going bankrupt. Is that the end game that you predict? Thanks
even more interesting is that the only segment of Ballards business that was up was their small amount they still sell to PLUG (replacing aging units in Walmart I believe). Wonder when that will terminate.
I think the srock is down because the entire market is down. Read the comments. Very positive
Thanks I view as positive. Thanks again
jammy - Interesting. But BALLARD is DOWN 6+%. PLUG is DOWN 3+%.
I think some investors see Ballard's comment and earnings as a positive.
I view this as very, very positive. Thanks though
Bolstered by strong order intake in Q4 in Europe and North America, we ended 2022 with an Order Backlog of $133.4 million, with Power Products up more than double from the end of 2021 and up almost 60% from the end of Q3."
With an increasingly constructive policy landscape for hydrogen globally, we are excited by the growing end customer interest to decarbonize mobility and stationary power applications with fuel cells," said Randy MacEwen, President and CEO. "2022 proved to be an important year for Ballard as we achieved key customer platform wins across our verticals of bus, truck, rail and marine, along with early traction in select stationary power applications. This dynamic is supporting our planned transition of Ballard's business model to a heavier focus on growing sales of Power Products and reduced relative contribution of Technology Solutions. Bolstered by strong order intake in Q4 in Europe and North America, we ended 2022 with an Order Backlog of $133.4 million, with Power Products up more than double from the end of 2021 and up almost 60% from the end of Q3."
Mixed Results. No clear direction, so the tend will continue.... DOWN.
nice to see an order for stationary fuel cell and this is a big one (compared to their other one in Europe with Fusion Fuel).
I assume the lead time is at the buyers request not Ballards. I wonder if any of it can be booked this year
Ballard announces order from CrossWind to supply fuel cell system for 1 MW stationary power project
https://ih.advfn.com/stock-market/NASDAQ/ballard-power-systems-BLDP/stock-news/90036575/ballard-announces-order-from-crosswind-to-supply-f
This company is in a prime spot moving forward, 20’s wouldn’t be a surprise in distant future
Looks like the market didn't like this news regarding developing a new mining trick in India with Adani and Leyland:
https://ih.advfn.com/p.php?pid=nmona&article=89994810
I suspect some numbers would be nice - like what the annual market for these trucks is in India - not many analysts will know that - and when they expect to deliver.
Odd that it isn't via a JV - may be that will happen if the idea proves to be popular.
Ballard desperately needs a steady volume market for these heavy mobile applications.
Is this the first perpetual motion system:
https://www.ballard.com/about-ballard/newsroom/news-releases/2022/12/08/amogy-and-ballard-sign-contract-to-integrate-maritime-fuel-cell-engines-in-zero-emission-ammonia-to-power-platform
So Ballard Fuel cell will turn hydrogen to electricity to go to Amogy cracking unit to turn Ammonia into hydrogen that can then be sent to the Ballard fuel cell.
I assume the net result is more hydrogen than you started with so some can actually power the boat?
Indeed we will , not sure of where Ballard is with truck companies - buses trains and ships have been their main activity the last 2 years.
in deed we will - orders like this next year for Nikola I suspect.
but nothing to do with FCEL
HDrive Enters Five-Year Supply Agreement of Up to 12,000 Hydrogen Fuel Cell Trucks (11-17-2022)
It is only a matter of time before we see something in North America and the rest of the world too.
https://fuelcellsworks.com/news/hdrive-enters-five-year-supply-agreement-for-thousands-of-hydrogen-vehicles-2/
https://www.compositesworld.com/news/ballard-power-and-wisdom-motor-co-partner-to-accelerate-adoption-of-fuel-cell-commercial-vehicles-#:~:text=Fuel%20cells%20company%20Ballard%20Power%20Systems%20%28Vancouver%2C%20Canada%29,fuel%20cell%20electric%20vehicles%20%28FCEV%29%20in%20Hong%20Kong.
BAD NEWS !
Tax Loss Selling is about to begin. Ballard will be a prime candidate for Longs to Dump their share before year end. I'm expecting new LOWS.
China manufacturing strategy announced
https://ih.advfn.com/stock-market/NASDAQ/ballard-power-systems-BLDP/stock-news/89189064/ballard-announces-global-manufacturing-strategy-i
Surprised this hasn't had more traction today.
Good news (at last) from Ballard
India train order first of many I hope:
https://ih.advfn.com/stock-market/NASDAQ/ballard-power-systems-BLDP/stock-news/88995322/ballard-to-power-indias-first-hydrogen-trains
Turning these initial orders into long standing supply agreements is critical - Wright bus in the UK seems to be the only one really active at the moment
cannot wait for more business updates, can't help thinking someone may snap them up, someone in the GE, Alstom market. targeting large mobile units - the shipping business is of particular interest I would think
I believe Ballard supplies the fuel cells for both SOlaris and Wright bus
so well done guys, the long years waiting are paying off
https://www.sustainable-bus.com/fuel-cell-bus/coming-to-cologne-100-fuel-cell-hybrid-buses-by-solaris-and-wrightbus/
Loaded up between $5.80 and $6.15, holding long. Up 8% today already, smart money gets in here. Lets make some loot!!
Bought big into this dip! Gasoline prices are too high to ignore alternatives now, especially at discounted prices. Good Score here!!!
I've said for years that the answer isn't heavy batteries to power vehicles...it's hydrogen. Hydrogen is the future...Cummins is preparing for just that future. 15L big ass motor for heavy equipment/trucks etc.
https://ngtnews.com/cummins-reveals-15-liter-hydrogen-engine-for-heavy-duty-applications
Terrible earnings. Falling Margins.
almost as if the perps from yesterday's huge sells at the bell were recovering today, we get huge blue (buy) volumes at the bell today on all 3. Buying back what they shorted yesterday? no manipulation right?
Big red spikes at the bell today, on this one, fcel and plug.
I’ve been trading here for longer than I thought;
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=130914711
Never caught a bottom or a top but the in betweens have been very rewarding over the years.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=151022582
BLDP-GLTA
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