Ballard Power Systems Announces Strategic Realignment

SEC Filing 6-K (0001279569-25-000816)

Ballard Power Systems Inc. announced a strategic realignment on July 31, 2025, aimed at strengthening its commercial focus and achieving positive cash flow under new leadership. The plan, led by newly appointed President and CEO Marty Neese, focuses on disciplined growth, sharper market execution, and stronger financial performance. Key elements include a structured plan to achieve positive cash flow by year-end 2027, reducing annualized operating costs by at least 30% in 2026, prioritizing fuel cell products with strong commercial traction, and enhancing gross margins through lower product costs and value-based pricing. The company also plans to limit capital expenditures and manage cash rigorously, with $550 million in cash and cash equivalents as of June 30, 2025. The realignment involves difficult decisions, including workforce reductions, but the company remains committed to supporting impacted employees. Ballard believes that hydrogen and fuel cells are essential to decarbonizing global mobility and aims to lead in this transition with discipline and focus.