The Vancouver-based fuel-cell engine maker posted a net loss of $48.9 million in the fourth quarter, up from a $27.6-million loss a year earlier. The company’s order backlog decreased three per cent to $130.5 million in 2023, partly due to the “financing and program delays” of one of its customers, which it didn’t name. (The Logic)
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The Vancouver-based fuel-cell engine maker posted a net loss of $48.9 million in the fourth quarter, up from a $27.6-million loss a year earlier. The company’s order backlog decreased three per cent to $130.5 million in 2023, partly due to the “financing and program delays” of one of its customers, which it didn’t name. (The Logic)
Talking point: Ballard stock closed down over 10 per cent on the Toronto Stock Exchange on Monday. The company has developed fuel-cell technology that can be used to propel buses, trucks, trains and ships, or installed in modular facilities and used for power generation. It uses low-carbon hydrogen to power the fuel cells, offsetting emissions from gasoline-powered engines. Ballard posted higher revenue of $102.4 million in 2023, up 25 per cent from $81.9 million in 2022. While its overall backlog fell, the company added $64.7 million in new orders in the fourth quarter of the year.
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