The global megatrend towards zero emission mobility is accelerating and putting increased momentum behind fuel cell-based power for motive applications, including buses, commercial trucks, rails, marine and cars.
Against this backdrop, Ballard Power Systems made measurable progress in its strategic positioning during the third quarter (Q3), as highlighted in its Q3 2019 results.
The Canadian company reported revenue in Q3 of $24.8m, gross margin of 25%, adjusted EBITDA of -$7.2m and ending cash reserves of $153.4m.
Randy MacEwen, President and CEO said, “Financial results for Q3 and year-to-date, together with a solid order book going forward, support our expectations for the full year.”
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