Sector: Energy | Industry: Renewable Energy Equipment & Services |
Company Contact | |
Address: | 9000 Glenlyon Parkway BURNABY BC V5J 5J8 |
Tel: | N/A |
Website: | https://www.ballard.com |
IR: | See website |
Key People | ||
R. Randall Macewen President, Chief Executive Officer, Director | Paul Michael Dobson Chief Financial Officer, Senior Vice President | Jesper Themsen President, Chief Executive Officer, Europe |
Mark Biznek Chief Operating Officer, Senior Vice President | Sarbjot Sidhu Chief People and Culture Officer, Senior Vice President | Kevin Colbow Senior Vice President, Chief Technology Officer |
Mircea Gradu Senior Vice President, Chief Engineering Officer | David Mucciacciaro Senior Vice President, Chief Commercial Officer | Kerry B. Hillier Corporate Secretary |
Business Overview |
Ballard Power Systems Inc. is a proton exchange membrane (PEM) fuel cell power system development and commercialization. The Company's principal business is the design, development, manufacture, sale and service of PEM fuel cell products for a variety of applications, focusing on power products for bus, truck, rail, marine, stationary and emerging market (material handling, off-road and other) applications, and the delivery of services, including technology solutions, after sales services and training. It also offers hydrogen fuel cell powertrain integration solutions. Its fuel cell is an environmentally clean electrochemical device that combines hydrogen fuel with oxygen (from the air) to produce electricity. It also has sales, assembly, research and development, certain engineering services and after-sale service facilities in Hobro, Denmark and London, United Kingdom, and has a sale, supply chain, and after-sales service office in Guangzhou, Guangdong Province, China. |
Financial Overview |
For the fiscal year ended 31 December 2023, Ballard Power Systems Inc revenues increased 25% to $102.4M. Net loss before extraordinary items decreased 10% to $144.2M. Revenues reflect Northern America segment increase of 32% to $37.7M, Europe segment increase of 21% to $49M. Lower net loss reflects Investment and other income increase from $19.6M to $43.3M (income), Foreign exchange loss increase from $4.6M (expense) to $821K (income). |