Ballard Announces Largest Order In Company History, 1,000 Engines To Power Solaris Buses Across Europe; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Ballard Power Systems (NASDAQ:BLDP) (TSX:BLDP) announced a Long Term Supply Agreement with Solaris Bus & Coach for 1,000 hydrogen fuel cell engines through 2027, marking the company's largest order. The engines will power Solaris buses across Europe, supporting the transition to zero-emission public transport. The order includes after-market and extended warranty services, with deliveries starting in 2024. This agreement strengthens Ballard's position in the European transit bus market and supports the decarbonization of urban fleets.
April 01, 2024 | 12:16 pm
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Ballard Power Systems announced its largest order ever, supplying 1,000 hydrogen fuel cell engines to Solaris for European buses, with deliveries starting in 2024. This significant order underlines Ballard's growing influence in the European zero-emission public transport market.
This landmark order directly impacts Ballard Power Systems by significantly increasing its production volume and reinforcing its market position in Europe. The long-term nature of the agreement and the inclusion of after-market services suggest a stable revenue stream over the coming years. Given the growing emphasis on decarbonization and zero-emission public transport solutions, this deal is likely to enhance Ballard's reputation and financial performance, making it a positive development for the company's stock in the short term.
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