Ballard Power Systems announced a significant long-term supply agreement with Canadian Pacific Kansas City (CPKC) for 98 fuel cell engines, marking a major step towards decarbonizing North American freight rail. This substantial order builds on an existing partnership and signifies CPKC’s commitment to hydrogen fuel cell technology for its locomotive fleet.
ETCH, Inc., a groundbreaking decarbonization company producing clean hydrogen and solid carbon from natural gas, has appointed Katie Ellet as its new CEO. Ellet brings over 25 years of experience in the chemicals and energy sectors, most recently from Air Liquide, where she led significant hydrogen initiatives. Under her leadership, ETCH will accelerate the commercialization of its patented technology, positioning the company as a leader in clean energy solutions.
Plug Power, Inc. (PLUG) shares are trading higher on Wednesday after the company provided its financial outlook for 2025, projecting revenue of $850 million to $950 million and a gross margin of -20% to -5%. Despite lowering its full-year 2024 revenue outlook, Plug highlighted significant milestones in hydrogen production, electrolyzer deployments, and strategic partnerships.
Ballard Power Systems (BLDP) shares took a significant hit on Tuesday after the company reported a disappointing third quarter, with revenue falling short of analyst expectations. The company also announced a global restructuring plan to cut costs and refocus its strategy in the face of weak demand for hydrogen and PEM fuel cells.
Ballard Power Systems announced disappointing third-quarter 2024 financial results, citing weak revenue, strained margins, and a push-out in hydrogen and PEM fuel cell market adoption. The company has undertaken significant restructuring measures to align its spending with the evolving market landscape, including workforce reductions and a strategic review of its Chinese joint venture. While facing challenges, Ballard remains optimistic about the long-term potential of hydrogen and PEM fuel cells in decarbonizing select heavy mobility and stationary power applications.
Ballard Power Systems announced a challenging third quarter 2024, with weak revenue, strained gross margin, and a significant restructuring effort. The company attributed these challenges to a push-out in market adoption of hydrogen and PEM fuel cells. Despite these headwinds, Ballard remains committed to its long-term vision for fuel cell power and sees continued growth potential in key markets like buses, rail, and stationary power.
Ballard Power Systems has announced a significant order for 200 fuel cell engines from New Flyer, a leading bus manufacturer. This order represents a major step forward in the adoption of hydrogen fuel cell technology for zero-emission transportation.
Hyundai Motor Company hosted a ‘Clearly Committed’ event in Korea, showcasing its INITIUM hydrogen fuel cell concept vehicle and reaffirming its commitment to a hydrogen-powered future. The event highlighted the company’s 27 years of hydrogen technology development and its ‘Art of Steel’ design language, reflecting a customer-centric approach. Hyundai Motor Group Executive Chair Euisun Chung further emphasized the importance of hydrogen energy, outlining the group’s HTWO business brand and its vision for a comprehensive hydrogen ecosystem.
EverWind Fuels, a leading green hydrogen developer, has received a significant $22.5 million investment from the Government of Canada to transform its Point Tupper Terminal into a major green energy hub. The funding will support the development of critical infrastructure for handling green hydrogen and ammonia, positioning Atlantic Canada as a key player in the global green energy transition.
NEXTCHEM’s subsidiary, KT Tech, has secured a significant contract to provide its NX ReformTM hydrogen technology for the Dung Quat Refinery’s upgrade and expansion project in Vietnam. This agreement includes both licensing, process design, and the supply of proprietary equipment, highlighting NEXTCHEM’s expertise in sustainable hydrogen production.
