Ballard Power's stock rallies on largest order in company history

By Steve Gelsi

Fuel-cell maker agrees to supply Solaris Bus & Coach

Ballard Power Systems Inc.'s stock was rallying Monday after the fuel-cell maker said it inked its largest supplier deal since it was founded in 1979.

Ballard Power (BLDP) rose by 12.8%. Volume was about 4.6 million shares, which is well above the stock's average daily volume of 2.8 million shares.

The company said it signed a long-term agreement with European bus manufacturer Solaris Bus & Coach to supply up to 1,000 hydrogen-fuel-cell engines through 2027 for the European transit-bus market.

The agreement adds about 700 fuel cell engines and related warranty services to an existing order of roughly 300 fuel cell engines.

"This consolidated order represents the largest order of fuel cell engines in Ballard's history," the company said.

"We are on the road to achieving scaled deployment of fuel cell buses," Ballard Chief Executive Randy said in a statement.

Prior to Monday's trading, Ballard Power stock had fallen by 24.9% in 2024, compared to a 9.1% rise by the Nasdaq COMP.

-Steve Gelsi

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04-01-24 1016ET

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