Report
Toby Thorrington

Ballard Power Systems - Decarbonising heavy-duty mobility

The European Commission’s ‘Fit for 55’ package and the US Department of Energy’s Earthshot programme, which were both announced this summer, identify the use of hydrogen as an energy source as key to achieving carbon dioxide emissions reductions in hard-to-abate sectors. Ballard is well placed to benefit from greater hydrogen adoption since it has already commercialised its fuel cell technology, and the c 3,500 buses and trucks powered by its fuel cells have driven over 100m kilometres between them. Importantly, Ballard is focused on heavy- and medium-duty motive applications including bus, truck, rail and marine, where fuel cells are a compelling zero-emission option because of range and refuelling times.
Underlying
Ballard Power Systems Inc.

Ballard Power Systems is engaged in the design, development, manufacture, sale and service of proton exchange membrane fuel cell products for a variety of applications, focusing on the power product markets of Heavy-Duty Motive (consisting of bus, truck, rail and marine applications), Portable Power, Material Handling and Backup Power, as well as the delivery of Technology Solutions, including engineering services, technology transfer and the license and sale of Co.'s intellectual property portfolio and fundamental knowledge for a variety of fuel cell applications. A fuel cell is an electrochemical device that combines hydrogen fuel with oxygen (from the air) to produce electricity.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Toby Thorrington

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