Research Desk Line-up: Babcock & Wilcox Enterprises Post Earnings Coverage
LONDON, UK / ACCESSWIRE / November 16, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Ballard Power Systems Inc. (NASDAQ: BLDP) ("Ballard"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=BLDP. The Company announced on November 14, 2017, that it has signed a multi-year Development Agreement with Siemens AG. The agreement is for Ballard to develop a zero-emission fuel cell engine which will power Siemens' Mireo, a lightweight commuter train. The project is valued approximately $9 million. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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About the Collaboration and Siemen's Mireo
As per the terms of the development agreement, Ballard will develop a 200-kilowatt fuel cell engine which will be integrated into Siemens' new Mireo train platform. Siemens' Mireo is a modular commuter train platform which is designed for speeds of up to 160 kilometers per hour (100 miles per hour). Mireo has a lightweight design, energy-efficient components and intelligent onboard network management which will enable Mireo to reduce its energy consumption by 25% compared to trains with similar passenger capacity. Mireo trains using Ballard's fuel cell engine are expected to be launched in FY21.
Siemens' Mireo has already received a positive response from the rail industry. DB Regio AG, the local transport arm of Deutsche Bahn was the first regional transport operator to commission 24 Mireos for its Rhine Valley rail network in March 2017. It placed a second order of 57 Mireo trains in August 2017 to be operated on the Rhine-Neckar network as a regional and commuter train.
Commenting on the collaboration, Randy MacEwen, President and CEO of Ballard, said:
"We are seeing rapid market demand growing for clean energy fuel cell technology in a range of Heavy Duty Motive applications, including trains, trams, transit buses and commercial trucks. This Development Agreement with Siemens, a major industrial conglomerate and leading global train OEM, is a testament to the overall value proposition offered by Ballard's fuel cell technology in a demanding use case and duty cycle. In this application, fuel cells enable electrification with range, without the need for costly catenary wire infrastructure."
Sabrina Soussan, CEO of the Mobility Division at Siemens, added:
"Our cooperation with Ballard is a decisive step towards replacing diesel-powered rail vehicles with emissions-free vehicles in the long-term interests of sustainable and climate-friendly mobility. We want to be able to offer our customers flexible train solutions for various suburban routes, which vary according to regional conditions and technical possibilities."
About Siemens AG
Munich, Germany based Siemens is the largest industrial manufacturing Company in Europe. It is one of the world's largest producers of energy-efficient, resource-saving technologies and a leading supplier of systems for power generation and transmission as well as medical diagnosis. The Company is also a pioneer in the infrastructure and industry solutions businesses.
For fiscal year ended on September 30, 2016, Siemens generated revenue of €79.6 billion and net income of €5.6 billion. The Company has around 351,000 employees worldwide.
About Ballard Power Systems Inc.
Headquartered in Vancouver, Canada, Ballard is the global leader in manufacturing clean-energy proton exchange membrane fuel cells which offer superior performance at a reduced operating cost. The Company's fuel cell products are designed to meet the power needs of customers from Transit Bus Operators, to Automotive, from Rail to Material Handling, and from UAV and Defence to Critical Infrastructure industries. The Company not only provides fuel cells to help customers reduce costs and risks, but it also helps customers in solving difficult technical and business challenges in their fuel cell programs. The Company, on November 08, 2017, delivered a 100-kilowatt FCveloCity® fuel cell engine to ABB Marine & Ports Finland which will be used for onsite power at a Royal Caribbean Cruises, Ltd.
Last Close Stock Review
On Wednesday, November 15, 2017, the stock closed the trading session at $4.61, slipping 6.49% from its previous closing price of $4.93. A total volume of 3.56 million shares have exchanged hands, which was higher than the 3-month average volume of 2.86 million shares. Ballard Power Systems' stock price soared 64.64% in the last three months, 73.31% in the past six months, and 136.41% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have skyrocketed 179.39%. At Wednesday's closing price, the stock's net capitalization stands at $802.74 million.
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