Ballard Power Systems Inc. BLDP

What this company does

Ballard Power Systems Inc.'s principal business is the design, development, manufacture, sale and service of PEM fuel cell products, together with the delivery of related services including technology solutions, after sales services and training. It provides membrane electrode assemblies to selected customers that produce their own fuel cell stacks, proprietary FCgen fuel cell stacks to original equipment manufacturer customers and system integrators, and fuel cell power modules or engines that it designs and assembles for mobility and stationary power applications. As of December 31, 2025, it had 492 temporary and permanent employees in Canada, the United States, the European Union and China. It has facilities in Canada, Denmark, the United States and China, including 281,103 square feet of leased space in Burnaby, British Columbia housing its corporate headquarters and fuel cell development, manufacturing, assembly and testing activities; 27,759 square feet in Hobro, Denmark for engineering, sales and service activities; and 26,779 square feet in Bend, Oregon for assembly and testing. Its investees include Weichai Ballard Hy-Energy Technologies Co., Ltd., a joint venture formed in China in which it holds a 49% equity interest. It reports its results in a single operating segment, Fuel Cell Products and Services, which covers sales across Heavy-Duty Mobility (bus, truck, rail and marine applications), Stationary Power, and Emerging and Other Markets (material handling, off-road and other applications).

Written from the business description in Ballard Power Systems Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 12 March 2026. Every sentence was checked against that document before publication.