Ballard’s restructure to survive the hydrogen slowdown
Ballard President and CEO, Randy MacEwen, tells H2 View about how the fuel cell maker is restructuring, cutting costs and fighting for long-term success in a tough hydrogen market
Ballard President and CEO, Randy MacEwen, tells H2 View about how the fuel cell maker is restructuring, cutting costs and fighting for long-term success in a tough hydrogen market
The Japanese auto giant is independently developing the 150kW module to replace its current model, which is produced in a joint venture with General Motors (GM).
Boomtown, which is set to take place in Hampshire on August 6-10, has said the HYDRO stage will form a key part of the 2025 event.
The leadership changes follow JM announcing a CAPEX suspension in its hydrogen technologies business.
The partnership comes at a pivotal moment for JM, which has been under investor pressure to scale back spending on its hydrogen technologies business.
While avoiding specifics on hydrogen cutbacks, Cummins has emphasised its focus on battery production.
Cummins announced plans to consolidate “certain manufacturing efforts,” prioritise its strongest business areas, rely on more partners and reduce spending in certain technologies.
Sweden’s PowerCell has secured an SEK 41.8m follow-up order for its marine hydrogen fuel cell systems from an unnamed European maritime OEM.
“The board decision is unanimous and is due to the fact that there is no longer a realistic opportunity to raise sufficient capital to continue operations.”
Two European technology players have secured a long-term contract to supply a Chinese hydrogen fuel cell manufacturer with bipolar plates.
