Ballard Power (TSE:BLDP) has released an update.
Ballard Power Systems reported a promising Q1 2024 with new orders totaling $64.5 million and a 38% increase in order backlog, primarily from European bus and stationary verticals. The company also announced a significant $94 million in non-dilutive funding for its upcoming Rockwall Gigafactory, which will advance their fuel cell production. Despite a net loss of $41.1 million, there’s optimism for revenue growth in the second half of the year and beyond, with Ballard’s strong cash position and investment in cost reduction and manufacturing improvements.
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