Ballard Power Systems Inc. (NASDAQ:BLDP) Q2 2024 Earnings Conference Call August 12, 2024 11:00 AM ET

Company Participants

Kate Igbalode - VP, IR
Randy MacEwen - CEO
Paul Dobson - CFO

Conference Call Participants

Rupert Merer - National Bank
Mac Whale - Cormark Securities
Aaron MacNeil - TD Cowen
Jordan Levy - Truist Securities
Saumya Jain - UBS
Kashy Harrison - Piper Sandler
Rob Brown - Lake Street Capital Markets
Ameet Thakkar - BMO Capital Markets
Craig Irwin - ROTH Capital Partners

Operator

Thank you for standing by. This is the conference operator. Welcome to the Ballard Power Systems Second Quarter 2024 Results Conference Call. [Operator Instructions]

I would now like to turn the conference over to Kate Igbalode, Vice President, Investor Relations. Please go ahead.

Kate Igbalode

Thank you, operator, and good morning. Welcome to Ballard's second quarter financial and operating results conference call. With us on today's call are Randy MacEwen, Ballard's CEO; and Paul Dobson, Chief Financial Officer. We will be making forward-looking statements that are based on management's current expectations, beliefs and assumptions concerning future events. Actual results could be materially different. Please refer to our most recent annual information form and other public filings for our complete disclaimer and related information.

I'll now turn the call over to Randy.

Randy MacEwen

Thank you, Kate, and welcome, everyone to today's conference call.

During Q2, we made measured progress on key 2024 deliverables related to products, advanced manufacturing and markets, all in support of our long-term strategy. On products, we launched our ninth generation PEM fuel cell engine, resetting the industry standard for PEM fuel cell engine performance for heavy-duty mobility. Enabled by an innovative open architecture design and other new design advances the powerful and compact FCmove XD enables several important performance improvements as compared to our prior generation engine, including 120-kilowatt power output from our latest high-performance single stack. A 33% reduction in total park count, significantly improving reliability and reducing costs. High peak system efficiency at greater than 60%, enabling improved fuel consumption and efficient heat rejection. Wide operating temperature range up to 95 degrees C. Integrated power controller incorporates DC/DC converter, air compressor inverter and a power distribution unit, along with proprietary software controls, enabling improved engine operation and efficiency. Rapid up and down transient times with an innovative hot standby mode, enabling rapid power increase, improved manufacturability with assembly times cut by more than half and easier access to parts for faster and lower-cost field maintenance.