Ballard Power Systems Files 6-K Report

TL;DR

Ballard Power Systems filed a routine 6-K, just a heads-up for investors on their reporting status.

AI Summary

Ballard Power Systems Inc. filed a Form 6-K on September 16, 2024, reporting for the month of September 2024. The filing is a report of a foreign private issuer pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934. The company's principal executive office is located at 9000 Glenlyon Parkway, Burnaby, BC V5J 5J8, Canada.

Why It Matters

This filing indicates ongoing reporting requirements for Ballard Power Systems as a foreign private issuer, providing transparency to investors about its regulatory compliance.

Risk Assessment

Risk Level: low — This filing is a standard periodic report and does not contain new material financial information or strategic changes that would inherently increase risk.

Key Players & Entities

• Ballard Power Systems Inc. (company) — Registrant
• 9000 Glenlyon Parkway (location) — Principal executive office address
• Burnaby, BC V5J 5J8 Canada (location) — Principal executive office address

FAQ

From the Filing

0001279569-24-001123.txt : 20240916 0001279569-24-001123.hdr.sgml : 20240916 20240916125035 ACCESSION NUMBER: 0001279569-24-001123 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20240912 FILED AS OF DATE: 20240916 DATE AS OF CHANGE: 20240916 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Ballard Power Systems Inc. CENTRAL INDEX KEY: 0001453015 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRICAL INDUSTRIAL APPARATUS [3620] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 STATE OF INCORPORATION: Z4 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-53543 FILM NUMBER: 241300529 BUSINESS ADDRESS: STREET 1: 9000 GLENLYON PARKWAY CITY: BURNABY STATE: A1 ZIP: V5J 5J8 BUSINESS PHONE: 604-454-0900 MAIL ADDRESS: STREET 1: 9000 GLENLYON PARKWAY CITY: BURNABY STATE: A1 ZIP: V5J 5J8 FORMER COMPANY: FORMER CONFORMED NAME: 7076991 Canada Inc. DATE OF NAME CHANGE: 20090102 6-K 1 ballard6k.htm FORM 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of September 2024 Commission File Number: 000-53543 Ballard Power Systems Inc. ——————————————————————————————————— (Translation of registrant’s name into English) 9000 Glenlyon Parkway Burnaby, BC V5J 5J8 Canada ——————————————————————————————————— (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: ☐ Form 20-F ☒ Form 40-F SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Ballard Power Systems Inc. Date: September 12, 2024 By: /s/ Kate Igbalode Name: Kate Igbalode Title: Chief Financial Officer EXHIBIT INDEX Exhibit No. Description 99.1 News Release Dated September 12, 2024 - Ballard announces restructuring to lower total operating expenses by more than 30% to align with delayed market adoption, while maintaining long-term competitiveness and balance sheet strength EX-99.1 2 ex991.htm NEWS RELEASE DATED SEPTEMBER 12, 2024 Exhibit 99.1 Ballard announces restructuring to lower total operating expenses by more than 30% to align with delayed market adoption, while maintaining long-term competitiveness and balance sheet strength VANCOUVER, BC, Sept. 12, 2024 /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced a global corporate restructuring to reduce corporate spending and in order to maintain balance sheet strength amid a slowdown in hydrogen infrastructure development and delayed fuel cell adoption. "As discussed during our recent earnings call, in the context of a challenging macroeconomic and geopolitical outlook and amid protracted policy uncertainty, we see a multi-year push-out of the availability of low-cost, low carbon hydrogen and hydrogen refueling infrastructure. As this delay represents a significant headwind to our corporate growth plan, we are implementing a cost restructuring to moderate our investment intensity and pacing to better align with delayed market adoption," said Mr. Randy MacEwen, Ballard President and CEO. "We expect our restructuring measures to impact our global operations, yielding annualized total operating expense savings in excess of 30%, with a substantial part of the annualized savings being realized in 2025." The sco