Ballard Power Systems (TSE:BLDP) has released an update.
Ballard Power Systems has reported a modest revenue increase in Q2 2024, driven by a 48% surge in fuel cell product sales, and has launched its 9th generation PEM fuel cell engine, signaling advancements in performance and manufacturing. Despite these strides, the quarter saw a downturn in order intake, with the company lowering its capital expenditure forecast due to slower market adoption. Ballard remains focused on its strategic initiatives and maintaining a robust balance sheet, with $678 million in cash reserves.
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