Ballard Power Systems (TSE:BLDP) has released an update.
Ballard Power Systems has announced a strategic restructuring plan to reduce operating expenses by over 30%, aiming to adjust to slower-than-expected market adoption of hydrogen fuel cells and infrastructure. Despite a challenging market, they maintain a strong balance sheet and are committed to the long-term potential of hydrogen fuel cells in decarbonizing transport. The company is also undergoing leadership changes with new appointments for CFO and COO positions.
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