Ballard Power Stock: Buying The Trough Of Disillusionment (NASDAQ:BLDP)


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It is over two years since I have been able to cover a Hydrogen company and three years since I last bought shares in Ballard Power. 2020/2021 were my most profitable trading years so far, and that success was driven by the

Date Summary
Nov 6th Ballard Power Systems has received an order for 12 fcels totaling 2.4 MW of additional fuel cell engines from Canadian Pacific Kansas City (CPKC) to support the development of hydrogen-powered locomotives planned for regular switching and local freight service applications in Alberta. This is an expansion of the 38 fuel cell engines already supplied by Ballard to CPKC over the past two years.
Nov 6th Ballard has received multiple purchase orders for 62 hydrogen fuel cell engines from Solaris Bus & Coach, a leading European bus manufacturer. Ballard’s Chief Commercial Officer is confident that the current momentum in the bus vertical will continue into 2024.
Oct 10th Ballard Power Systems announced multiple purchase orders from Solaris Bus & Coach for 177 hydrogen fuel cell engines to be delivered from 2023 to 2026. The orders include fuel cell engines to support the largest announced deployment of a fleet of fuel cell city buses in Europe, with 127 Solaris fuel cell buses to be deployed in Bologna, Italy. This brings Solaris’ total number of fuel cell engines ordered from Ballard year-to-date to over 270.
Aug 8th Ballard Power Systems has received multiple purchase orders for a total of 96 hydrogen fuel cell engines from Solaris Bus & Coach The largest single order to date is from Rebus Regionalbus Rostock, a public transport operator in Germany, who ordered 52 fuel cell engines to power Solaris Urbino hydrogen buses. Most will be delivered in 2024.
Aug 3rd Ballard Power Systems has signed a letter of intent with Ford Trucks to supply a fuel cell system for the development of a hydrogen fuel cell vehicle prototype. Ford Trucks plans to develop a Fuel Cell Electric Vehicle (FCEV) F-MAX, which will integrate the 120 kW FCmove-XDTM fuel cell engines into the F-MAX 44-ton long-haul tractor truck. As part of the European Union’s Horizon Europe ZEFES project goals, Ford Trucks aims to commence European Ten-T corridor demonstrations in 2025.
Jul 27th Ballard Power Systems has received an order for 18 additional 200 kW fuel cell engines from Canadian Pacific Kansas City (CPKC) to support the expansion of its Hydrogen Locomotive Program. Ballard has already supplied CPKC with 20 fuel cell engines over the past two years for use in three different types of locomotives.
Jun 12th Ballard has announced a plan to reduce the costs and increase the production capacity of their next-generation graphite bipolar plates. This project follows the development of thin flexible graphite bipolar plates and an expansion of membrane electrode assembly manufacturing capacity. The project will introduce disruptive manufacturing technology and new lower-cost material suppliers, resulting in cost savings of up to 70%.
Jun 1st Ballard Power Systems and First Mode have announced a purchase order for Ballard to supply First Mode with 60 hydrogen fuel cell modules for delivery in 2024. This order represents an expansion of the relationship, following the order of 35 modules year-to-date in 2023, to power hybrid hydrogen and battery ultra-class mining haul trucks.



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