Dallas, Texas 04/08/2014 (FINANCIALSTRENDS) – The stocks of the popular fuel cell manufacturer, Ballard Power Systems Inc. (USA)(NASDAQ:BLDP) sawdecrease in price by almost 10%. This move was similar to pattern of Nasdaq. The popular consensus is that a good deal of profit booking done by the investors is the possible cause of this move. Meanwhile, the products manufactured by the company are still highly in demand, especially the buses powered by their fuel cells. In other news, CEO Sheridan has declared that he would be stepping down from his post at the end of 2014.
Fuel Cell powered Buses
The most recent product delivery from Ballard Power Systems Inc. (USA)(NASDAQ:BLDP) was the buses powered by FCvelocityHD6 fuel cell module. This was donefor around four buses of Van Hool, one of the prominent bus manufacturers across Europe. The pending six buses of the planned 10 bus fleet are supposed to be delivered to the various agencies in Aberdeen of Scotland. These new buses are anticipated to be a major factor for popularizing the development as well as the deployment of the hydrogen technology. Similar fuel cell manufacturing was done for Hamburg as well as China by Ballard Power Systems Inc. (USA)(NASDAQ:BLDP) earlier.
Profit report after two decades
For the first time in 21 years as a public company, Ballard Power Systems Inc. (USA)(NASDAQ:BLDP) is all set to declare its first profit. The company had been always posting losses until now.
CEO to retire before 2015
John Sheridan, the Chief Executive Officer of Ballard Power Systems Inc. (USA)(NASDAQ:BLDP) since almost a decade, had declared his intension to retire by the end of 2014. Under his guidance, the company had diversified its fuel cell market by targeting on the production of fuel cells for buses, telecom towers, as well as forklifts. The earlier clients of the company had included popular car manufacturers like Daimler as well as Ford.