Ballard: Fresh capital is critical for green H<sub>2</sub>

Ballard Power Systems is looking to ramp up investments in key product areas, while acknowledging that cost reduction is going to be crucial to getting investors onboard for future development

The hydrogen market has beaten all industry forecasts for market adoption over the last 12 months—and this has changed the dynamic between producers and the markets as well as the conversations companies are having with investors, according to Ballard Power Systems CFO Tony Guglielmin. During an analyst call, Guglielmin said this trend is putting stress on providers to find more capital as they try to keep feeding growth and meet forecast demand. “Three or four years ago the conversations with investors would have been about getting to breakeven and growing from there,” says Guglielmin. “Now adding capital has become critical.” He estimates the industry needs to reduce costs by more than two

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