Ballard’s revenue remained largely stable but its loss increased due to the pandemic
Ballard’s future bright despite tough 2020
Fuel cell manufacturer extended losses due to the pandemic but has recently signed a heavy-duty railroad deal
Vancouver-based Ballard Power Systems may have missed analyst estimates in the fourth quarter and 2020 as a whole, but the company’s stock price continued to rebound with the release of its financials on 10 March. The day before, Ballard announced a hydrogen fuel-cell deal with Canadian Pacific (CP), one of the two largest railroad companies in Canada. Ballard reported total revenue of $103.9mn last year, a decline of 2pc compared with 2019, with business retarded by the global Covid-19 pandemic. This in turn contributed to a net loss from continuing operations of $49.5mn in 2020, compared with a loss of $35.3mn the previous year. The company’s valuation is approximately 70 times revenues—de
Also in this section
18 June 2025
The country’s green hydrogen sector can gain traction even as the global trade war rages and other headwinds hamper the sector, Mohsen al-Hadhrami, undersecretary of energy and minerals, tells Hydrogen Economist
18 June 2025
UK risks losing out on in race to secure hydrogen imports as its refusal to back ammonia cracking sinks $2.7b Immingham project
11 June 2025
China emerges as clear frontrunner as US growth stalls and Europe burdens its industry with labyrinthine regulations
30 May 2025
Pressure is growing on developers to prove the bankability of their projects in a challenging market for green hydrogen
