Annual revenue declined by 32% from 2023 figures (USD 102.368 million) to USD 69.731 million. The net loss in 2024 (USD 324.245 million) almost doubled from 2023 (USD 177.716 million).

The order represents .4 megawatts (MW) of total rated power and comes at a welcome time as the company has delayed hydrogen infrastructure development due to the slower-than-expected adoption of fuel cell technology.

New Flyer will supply 108 units of its ‘Xcelsior Charge FC’ range of hydrogen-powered electric buses, all measuring forty feet in length, to SamTrans.

In response to delays in hydrogen infrastructure development and slower-than-expected adoption of fuel cell technology, the company aims to reduce operating expenses by over 30%. Key actions include workforce reductions, rationalisation of product development programs, and cuts to capital expenditures.

According to Ballard, this ninth-generation module offers class-leading power density and scalability, with power outputs ranging from 120 to 360 kW. One key feature is its modular design, which allows flexible integration based on the needs of different truck applications and payload requirements.

Ballard launched its 9th generation 120kW fuel cell engine (FCmove-XD) for the HGV market which is set to go into series production by the end of 2024 at the Ballard factory in Oregon, with plans to move production to its future fuel cell production Gigafactory in Rockwall, Texas. 

Ballard will supply Wrightbus with 70 hydrogen fuel cell modules (FCmove-HD+) by the end of the year. These will be used to power single and double-decker HFC buses in the UK and Germany set to go into service in 2025.

The bus will integrate BAE System’s electric powertrain, Ballard’s hydrogen fuel cell and Gillig’s low-floor body. Production is set to begin in Q1 2026 for the North American market.

Ballard has announced an additional USD 54 million in U.S. federal funding (investment tax credits) for its planned fuel cell production facility in Rockwall Texas. This brings the total in federal funding to USD 94 million, through various U.S. departments including the U.S. Department of Energy’s (DOE) Hydrogen and Fuel Cell Technologies Office and now the Internal Revenue Service (IRS) as part of the Qualifying Advanced Energy Project Tax Credit (48C*), funded by the Inflation Reduction Act (IRA).

Some 1,000 units are to be made up of approximately 800, FCmove-HD 70 kW and 200, FCmove-HD+ 100 kW engines which will be integrated into the Solaris 12-metre and 18-metre buses. Included in the contract are after-market and extended warranty services. Delivery will occur from 2024 to 2027.

Dedo has over four decades of experience in the transportation and electrified propulsion industries, co-founding Aware Mobility LLC and working in senior management positions for Dana Holding Corp, Motorola and Bosch Corporation. Currently, she sits on the boards of Li-Cycle Holdings Corp, Workhorse Group Inc, Carbon Revolution and the Cadillac Products Automotive Company.

Ballard has announced plans for a USD 200 million twenty-two acre fuel cell production Gigafactory (“Ballard Rockwall Giga 1”) in Rockwall, Texas. Ballard has confirmed that USD 40 million in subsidies/grants is expected from the U.S. Department of Energy’s (DOE) Hydrogen and Fuel Cell Technologies Office, through the Clean Hydrogen Electrolysis, Manufacturing, and Recycling Program.