Amid the coronavirus, Ballard Power Systems has recorded record first quarter revenue of $24m, up 50% year-over-year, for its quarter one 2020 results.
The Canadian company’s Power Products platform generated revenue of $12.3m in the quarter, an increase of 95% or $6m.
Heavy Duty Motive revenue was $10.4m, increase of 303% or $7.8m, due primarily to higher shipments of module part kits and MEAs to China.
Material Handling revenue was $0.7m, a decrease of 78% or $2.5m, primarily the result of lower fuel cell stack shipments to Plug Power
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