Ballard Power Systems

Ballard’s 500 Fuel Cell Deal Meets A Hydrogen Bus Market That Never Arrived

Ballard Power and New Flyer announced what sounds at first like a market-making agreement, a commercial arrangement for 500 fuel cell engines, or about 50 MW of modules, for hydrogen transit buses starting in 2026. On the surface, that reads like the kind of order that only appears when a … [continued]

Stellantis Joins Growing List Of Hydrogen Mobility Retreats

Stellantis, one of the world’s five largest automakers and a proponent of hydrogen fuel cell electric vehicles for light commercial vehicles, has now formally signaled a retreat from its hydrogen ambitions. This pivot away from hydrogen-powered transportation represents yet another confirmation of the longstanding challenges faced by hydrogen in mobility … [continued]

Trump’s Big, Beautiful Bill Accelerates Hydrogen Economy’s Inevitable Fall

For years, I’ve been openly dismissive of the hydrogen for energy economy—particularly the financial prospects of its most hyped members, Plug Power, FuelCell Energy, and Ballard Power. The hydrogen-for-energy vision was never built on firm economic foundations. It relied heavily on the ongoing generosity of governments to subsidize fundamentally and … [continued]

Hydrogen’s Harsh Reality: Plug Power, Ballard, and FuelCell Near the End?

Plug Power’s stock has dipped into dangerous territory, trading below the critical $1 threshold required by Nasdaq, signaling yet another existential crisis for the firm. This isn’t the first time Plug has flirted with financial oblivion, of course; the company executed a 1-for-10 reverse stock split back in 2011 to … [continued]

Nikola Bankruptcy Just Part Of Crumbling Of Hydrogen For Transportation

Nikola, with its hydrogen trucks, has finally left the building. The company gained widespread attention after going public via a SPAC merger in 2020, briefly reaching a market valuation of over $30 billion. However, founder Trevor Milton was complicit in the SPAC pump and dump, misleading investors about Nikola’s technological … [continued]

Canadian Transit Think Tank CUTRIC Chooses Inaccuracy, Irrelevancy, & Attack

Over the past three weeks, I’ve been assessing various aspects of the Canadian Urban Transit Research and Innovation Consortium’s (CUTRIC) positions, research, and publications on transit bus decarbonization. I’ve published ten articles directly about CUTRIC’s material and reports, or closely related and with serious implications for their claims that both … [continued]

Ballard Averaging $55 Million Annual Losses While Pushing Hydrogen Rock Uphill With Grants

There are three long running supporting cast members in stagings of the sad farce that is trials of hydrogen for fleets, FuelCell Energy, Plug Power and Ballard Power Systems. All of their market capitalizations peaked roughly 99% above their current stock valuations in 2000. They’ve all participated in innumerable hydrogen … [continued]