Ballard Power Systems Files November 2024 6-K Report

Ticker: BLDP · Form: 6-K · Filed: 2024-11-05T00:00:00.000Z

Sentiment: neutral

Topics: reporting, sec-filing

TL;DR

Ballard Power Systems filed its November 6-K, confirming its reporting status as a foreign private issuer.

AI Summary

Ballard Power Systems Inc. filed a Form 6-K on November 5, 2024, reporting for the month of November 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. Ballard Power Systems Inc. is incorporated in Canada and its principal executive office is located at 9000 Glenlyon Parkway, Burnaby, BC V5J 5J8.

Why It Matters

This filing provides routine updates for investors and regulatory bodies regarding Ballard Power Systems' status as a foreign private issuer. It confirms their ongoing reporting obligations under US securities laws.

Risk Assessment

Risk Level: low — This filing is a routine report and does not contain new financial information or significant operational updates that would typically impact risk.

Key Players & Entities

Ballard Power Systems Inc. (company) — Registrant
9000 Glenlyon Parkway, Burnaby, BC V5J 5J8 (location) — Principal executive office address
000-53543 (other) — Commission File Number

FAQ

What type of filing is this Form 6-K?

This Form 6-K is a Report of Foreign Private Issuer pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934.

For what period is this report being filed?

The report is filed for the month of November 2024.

What is the Commission File Number for Ballard Power Systems Inc.?

The Commission File Number for Ballard Power Systems Inc. is 000-53543.

Where is Ballard Power Systems Inc.'s principal executive office located?

Ballard Power Systems Inc.'s principal executive office is located at 9000 Glenlyon Parkway, Burnaby, BC V5J 5J8, Canada.

Does Ballard Power Systems Inc. file annual reports under Form 20-F?

The filing indicates that the registrant (Ballard Power Systems Inc.) files or will file annual reports under cover of Form 20-F, as indicated by a checkmark.

From the Filing

0001279569-24-001330.txt : 20241105 0001279569-24-001330.hdr.sgml : 20241105 20241105085814 ACCESSION NUMBER: 0001279569-24-001330 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20241105 FILED AS OF DATE: 20241105 DATE AS OF CHANGE: 20241105 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: 241425907 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 November 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: November 5, 2024 By: /s/ Kate Igbalode Name: Kate Igbalode Title: Chief Financial Officer EXHIBIT INDEX Exhibit No. Description 99.1 News Release Dated November 5, 2024 - Ballard Reports Q3 2024 Results EX-99.1 2 ex991.htm NEWS RELEASE DATED NOVEMBER 5, 2024 Exhibit 99.1 Ballard Reports Q3 2024 Results VANCOUVER, BC, Nov. 5, 2024 /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced consolidated financial results for the third quarter ended September 30, 2024. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards (IFRS). "We had a tough quarter, marked by weak revenue, strained gross margin, soft new order intake, adverse order book adjustments, a restructuring charge of $16.1 million, and non-cash impairments totaling approximately $147.0 million," stated Randy MacEwen, Ballard's President & CEO. "We have taken difficult but important actions to better align our spending with a multi-year push-out in market adoption of hydrogen and PEM fuel cells." Mr. MacEwen continued, "In Q3, we initiated a global corporate restructuring to reduce total annualized operating costs by more than 30%. We expect a substantial part of the annualized cost savings to be realized in 2025. Our restructuring includes a sizeable workforce reduction, rationalization of product development programs, consolidation of global operations and facilities, and a reduction in planned capital expenditures. As part of our global restructuring, we also reduced our corporate cost structure in China and initiated a strategic review of our China joint venture." Mr. MacEwen further commented, "