Group 1 - The focus has shifted from primarily tech stocks to include offshore drilling, supply industry, and shipping sectors such as tankers, containers, and dry bulk [1] - There is an emerging interest in the fuel cell industry, which is still in its nascent stage [1] Group 2 - The individual has a background in auditing with PricewaterhouseCoopers and transitioned to day trading nearly 20 years ago [2] - The experience includes navigating significant market events such as the dotcom bubble, the aftermath of the World Trade Center attacks, and the subprime crisis [2]

2025年的展会安排如下：秋季展会将于9月17日至19日在千叶幕张展览馆举行；冬季展会将在11月19日至21日于大阪INTEX展览馆进行；接下来的春季展会 则定于2026年3月17日至19日在东京BIGSIGHT展馆举办。这三场展会将吸引来自出色的制造商、供应商、投资者和相关行业的专业人士。 FCEXPO展会的规模相当可观，在上届展会上，共有450家参展企业参与，吸引了约27000名客商，展会面积达到25000平方米。这些数据表明了展会在行业 内的重要性和影响力。展会汇聚了氢能及燃料电池的各种高端技术、材料、部件和先进装备，成为业内人士交流、合作和学习的重要场所。 日本国际氢能源燃料电池展（FCEXPO）是出色氢能和燃料电池领域的重要展会，由日本励展公司主办，创办于2005年。该展会每年举办三届，分别在不同 的城市举行，涵盖了氢能及燃料电池的各个方面。展会为企业提供了一个优质的平台，以便它们在日本市场上展示自己的技术和产品。 参展企业包括国际一线厂商，如丰田、本田、铃木、松下、东芝、液化空气和巴拉德等。这些企业在氢能及燃料电池技术的研发和应用方面具有较强的实 力。参观买家来自多个行业，包括燃料电池制造商、汽车 ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2025 was $17.8 million, an increase of 11% year over year, with significant contributions from the heavy-duty mobility market, particularly in bus and rail shipments [15][18] - Gross margin improved to negative 8%, up 24 points compared to Q2 of last year, primarily due to lower manufacturing overhead costs from restructuring activities [18] - Total operating expenses decreased by 12% year over year to $31.7 million, with cash operating costs declining by 27% to $22.7 million [19] - Adjusted EBITDA was negative $30.6 million, reflecting a 13% improvement from negative $35.4 million last year [19] - The company closed the quarter with $550 million in cash and cash equivalents, with no bank debt, indicating strong liquidity [20] Business Line Data and Key Metrics Changes - The heavy-duty mobility market contributed $16.1 million to total revenue, driven by bus and rail shipments [18] - The company secured one of the largest marine orders in its history after the quarter, indicating strong performance in the marine vertical [16] Market Data and Key Metrics Changes - The company is seeing good traction in the bus market in both North America and Europe, driven by the total cost of ownership for asset owners [23] - There is renewed interest in material handling opportunities, particularly in stack replacements, as integrators and OEMs seek higher-performing stacks [34] Company Strategy and Development Direction - The company aims to become a sustainable cash flow positive business by 2027, focusing on execution, cost reduction, and disciplined capital management [8][14] - A strategic realignment and headcount reduction have been implemented to lower the cost base and redirect resources toward near-term opportunities [14] - The company is adjusting investments in markets that are not moving as fast as expected, such as the heavy-duty truck sector [13] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges posed by changing regulations, tariffs, and delayed adoption in certain sectors, emphasizing the need for evolution [7] - The company remains optimistic about the role of hydrogen and fuel cells in decarbonizing key sectors of the global economy, despite uneven market adoption [17] Other Important Information - The company is planning its next Capital Markets Day for 2026 to share more about its strategic focus areas and path forward [15] Q&A Session Summary Question: Near term markets being pursued - Management highlighted strong traction in the bus market, particularly for larger fleets where hydrogen is favored over battery electric due to infrastructure costs [23] Question: Details on the marine order - The marine order is significant, sized at 6.3 megawatts, and reflects a two-year sales cycle, indicating a long-term commitment to this vertical [25] Question: Operating expenses and restructuring charges - Most restructuring charges were incurred in Q2, with further reductions in operating costs expected, aiming for a 30% reduction going forward [30] Question: Future-proofing technology development - Management emphasized ongoing improvements in core technology, particularly in stack durability and efficiency, which are applicable across various markets [37] Question: Confidence in the Texas facility - The Texas facility remains on pause, with a focus on maximizing existing capacity before making decisions on additional investments [45] Question: Activities in China - The company is currently on pause regarding investments in China, focusing instead on supply chain components while assessing market demand [53]

VANCOUVER, BC, Aug. 11, 2025 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced consolidated financial results for the second quarter ended June 30, 2025. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards (IFRS). 2025 Outlook Consistent with our past practice, and in view of the early stage of hydrogen fuel cell market development, specific revenue and net income (loss) guidance for 2025 i ...

VANCOUVER, BC, July 31, 2025 /PRNewswire/ - Ballard today announced the launch of a bold strategic realignment led by newly appointed President and CEO, Marty Neese, to position the Company for disciplined growth, sharper market execution, and stronger financial performance in line with current commercial realities. This decisive shift reflects an important leadership agenda and marks a fundamental reset in how the Company operates, prioritizes innovation, and delivers value to customers, given the current ...

Group 1 - The focus has shifted towards offshore drilling, supply industry, and shipping, including tankers, containers, and dry bulk [1] - The fuel cell industry is being monitored as it is still in its early stages of development [1] Group 2 - The individual has extensive experience in auditing with PricewaterhouseCoopers before transitioning to day trading nearly 20 years ago [2] - Successfully navigated significant market events such as the dotcom bubble, the aftermath of the World Trade Center attacks, and the subprime crisis [2]

Core Viewpoint - Ballard Power Systems has secured a significant purchase order for 6.4 MW of fuel cell engines from eCap Marine for deployment on two vessels operated by Samskip, marking a major step in the decarbonization of marine transport [1][2][3] Group 1: Company Overview - Ballard Power Systems specializes in zero-emission PEM fuel cells that enable electrification across various mobility sectors, including marine vessels [4] - The company aims to deliver fuel cell power solutions that contribute to a sustainable planet [4] Group 2: Partnership and Collaboration - The new order continues the collaboration between Ballard Power Systems and eCap Marine, which began in 2021, emphasizing their joint commitment to operational excellence and environmental stewardship [2][3] - eCap Marine focuses on innovative solutions for emission-free shipping, providing comprehensive services from feasibility studies to technical design [7] Group 3: Technical Details - The order includes 32 FCwave™-200 kW engines, which will be integrated into green marine propulsion systems to decarbonize routes between Norway and the Netherlands [2] - Ballard's FCwave™ is the first DNV type-approved fuel cell module for marine applications, ensuring compliance with international safety and design standards [3] Group 4: Support and Validation - The project is supported by ENOVA, Norway's government agency for energy and climate initiatives, highlighting the importance of public-private collaboration in advancing sustainable marine energy solutions [3]

Core Points - Ballard Power Systems will hold a conference call on August 11th, 2025, to review its second quarter 2025 operating results [1] - The live call can be accessed via a toll-free number or through a webcast on Ballard's homepage [2] - Ballard Power Systems focuses on delivering zero-emission PEM fuel cells for various applications, including mobility and stationary power [3]

Leadership Transition - Verdagy has announced a leadership transition with Rahul Bammi appointed as CEO, succeeding Marty Neese who is leaving to join Ballard Power Systems [1] - Neese expressed confidence in Bammi's leadership capabilities, highlighting his experience in growing companies and commercializing new technologies as essential for Verdagy's next growth phase [2] Company Background - Verdagy specializes in green hydrogen electrolysis, manufacturing Dynamic Alkaline electrolyzers that offer the lowest levelized cost of hydrogen (LCOH) and high asset utilization [5] - The company operates a hydrogen production plant and R&D complex in Moss Landing, California, focusing on advancing its technologies [5] Leadership Experience - Bammi has 25 years of experience in scaling global technology and clean energy businesses, with a proven track record in the semiconductor industry, where he doubled revenues and profits in several businesses and raised over $2 billion in capital [3] - As President, Bammi led go-to-market initiatives and developed a global pipeline of hydrogen projects and customers [3] Strategic Partnerships - Bammi emphasized the importance of partnerships with visionary investors like Khosla Ventures and Temasek, as well as industry partners such as Shell, TDK Ventures, BHP, and Yara for Verdagy's long-term success [4] - These partnerships are crucial for the commercialization of Verdagy's technology and products at a large scale [4]

Leadership Transition - Ballard Power Systems announced a leadership transition with Randy MacEwen stepping down as President and CEO after over a decade, effective July 7, 2025, with Marty Neese taking over the role [1][2] - The Board of Directors appointed Marty Neese, who has extensive operational experience and has served on Ballard's Board for the past 10 years, as the new President and CEO [2][3] Industry Context - The fuel cell industry is undergoing a period of rationalization and competitive realignment, necessitating a leader with a strong operational background to guide the company [3] - The company aims to adapt to changing industry dynamics, focusing on product cost reduction and operational efficiency [2][3] Company Vision and Strategy - Ballard Power Systems aims to deliver fuel cell power for a sustainable planet, focusing on zero-emission PEM fuel cells for various mobility applications [4] - Marty Neese emphasized the importance of optimizing operations, accelerating innovation, and unlocking long-term value for stakeholders as part of the company's strategy moving forward [3]