Report
Toby Thorrington

Ballard Power Systems - Power to change the world

Sixty-six countries have announced net zero carbon targets for 2050, 20 of which, collectively representing about 70% of global GDP, are proposing hydrogen strategies or roadmaps as key elements of their decarbonisation plans. Ballard is well placed to benefit from hydrogen adoption since it has already commercialised its fuel-cell technology and the c 1,000 buses and 2,200 trucks powered by its fuel cells have driven over 50m kilometres between them. Importantly Ballard is focused on heavy and medium duty motive applications including bus, truck, rail and marine, where fuel cells offer distinct range advantages over batteries.
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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