Ballard Power Systems (BLDP) Stock | Clean Mass Transit through Fuel Cell Technology


Ballard Power Systems Inc. (NASDAQ: BLDP)


Ballard Power Systems Inc. (BLDP), a company that develops and commercializes the use of proton exchange membrane (PEM) fuel cells, announced yesterday a joint agreement with CRRC Sifang for $6 million dollars in China to provide first global deployment of fuel cell-powered trams.


Ballard Power Systems Inc. Executives’ Comments

“We are pleased with the strong relationship we are developing with CRRC Sifang, a company with a rich history of innovation in Chinese rail transit, to pursue the China market opportunity for fuel cell powered trams,” said Randy MacEwen, Ballard’s President and CEO.  PR Newswire

Comments made from Deputy President of CRRC Sifang:

“Clean urban transportation is a high priority in China. Our collaboration with Ballard to develop a purpose-built engine for our low floor tram, and the initial planned deployments in Foshan, position us well for this attractive opportunity. Ballard is our chosen partner for fuel cell technology because they have leading fuel cell expertise, experience, capabilities and a focus on safety, reliability and quality.”  PR Newswire

BLDP’s Director of Sales for Asia Pacific Comments:

“Our ground-breaking announcement a few days ago regarding a deal to support deployment of 300 fuel cell buses in the Cities of Foshan and Yunfu, together with today’s announcement of an initial order supporting deployment of 8 fuel cell trams in the City of Foshan provide concrete evidence that Ballard’s customer-centric China strategy is moving toward an unparalleled level of industry success.”  PR Newswire


BLDP Technical Analysis


BLDP gapped up in price yesterday to $1.35, up from the prior day’s close of $1.17, which is a 15% increase in price based on favorable news. Taking a look at the daily chart, we can see the last time the stock traded above this price level was back on September 11th when the stock closed at $1.44. The stock has been on a steady decline ever since June 12th when the stock traded at $2.44. The stock fell all the way to its 52 week low of $1.07 which was reached on August 24th. The stock did reach pre market highs of a $1.40, meaning it only gave back $0.05 at the open. For trading purposes my entry point would have been the pre market high of $1.40 looking for a run through $1.50. My stop loss would have been $1.30 fearing anything below that and the stock would start to fill in the gap up.


Company Profile

Ballard Power Systems Inc., incorporated on November 12, 2008, is engaged in the development and commercialization of proton exchange membrane (PEM) fuel cell. The Company’s principal business is the design, development, manufacture, sale and service of fuel cell products for a variety of applications, focusing on the telecom backup power, material handling, bus and distributed generation markets. The company also offers engineering services for various fuel cell applications. It offers tools and technologies for development, optimization, integration and validation of fuel cell components, stacks and systems.

The Company has a portfolio of commercial solutions, including fuel cell stacks, modules and systems. The Company’s fuel cell stacks include FCgen-1020ACS, FCgen-1300 and FCvelocity-9SSL. Its fuel cell modules include FCvelocity-HD6. Its complete fuel cell systems include ElectraGen-ME, ElectraGen-H2 and ClearGen.  Reuters