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    BLDP   CA0585861085

BALLARD POWER SYSTEMS INC.

(BLDP)
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Ballard Receives Order for Fuel Cell Modules to Power Trial Operation of Siemens Mireo Plus H Train

07/15/2021 | 08:34am EDT

Ballard Power Systems Inc. announced that it has received a purchase order for two of its 200-kilowatt (kW) fuel cell modules from Siemens Mobility GmbH to power a 2-car Mireo Plus H passenger train through a trial operation in Bavaria, Germany. As per Ballard’s announcement in November 2017, the 200kW fuel cell module has been developed and tested under a multi-year Development Agreement with Siemens, in order to provide primary propulsion power for the Mireo Plus H light rail train. Ballard plans to deliver the modules ordered by Siemens for the trial operation in Bavaria in 2022. The Bavarian State Ministers for Economic Affairs and for Transport support the testing in Bavaria of a hydrogen-powered train. The 2-car Mireo Plus H train is to be tested on the Augsburg- Füssen route, among others, in 2023. Pilot operation in the rail network of Bayerische Regiobahn (BRB) is initially planned for 30-months, with the train stationed in Augsburg during the trial. The Mireo Plus H platform is a modular commuter train designed to operate on non-electrified rail lines, at speeds up to 160 kilometers per hour (100 miles per hour) over a range of up to 800 kilometers (500 miles). Ballard fuel cell modules are mounted on the roof of the train and work in conjunction with batteries installed beneath the floor. Thanks to lightweight design, energy-efficient components and intelligent onboard network management, the train consumes up to 25% less energy than today’s trains with similar passenger capacity. The Mireo Plus H will be presented to the public in the spring of 2022, with test runs in Bavaria planned for 2023 before it officially enters passenger service in 2024.


ę S&P Capital IQ 2021
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Financials (USD)
Sales 2021 103 M - -
Net income 2021 -69,6 M - -
Net cash 2021 1 202 M - -
P/E ratio 2021 -62,5x
Yield 2021 -
Capitalization 4 519 M 4 514 M -
EV / Sales 2021 32,2x
EV / Sales 2022 24,2x
Nbr of Employees 785
Free-Float 81,0%
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 15,18 $
Average target price 16,84 $
Spread / Average Target 10,9%
EPS Revisions
Managers and Directors
R. Randall MacEwen President, CEO & Non-Independent Director
Paul Dobson Chief Financial Officer & Senior Vice President
James Norman Roche Non-Executive Chairman
Kevin Michael Colbow Chief Technology Officer & Senior Vice President
Sarbjot Sidhu Senior Vice President-Operations
Sector and Competitors
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