Ballard Power Systems Inc. Announces Strategic Realignment Under New Leadership

VANCOUVER, BC, July 31, 2025 — Ballard Power Systems Inc., a leading Canadian industrial company specializing in hydrogen fuel cells, has announced a significant strategic realignment under the leadership of newly appointed President and CEO, Marty Neese. This bold move aims to position the company for disciplined growth, sharper market execution, and stronger financial performance, aligning with current commercial realities.

The strategic realignment reflects a fundamental reset in how Ballard operates, prioritizes innovation, and delivers value to its customers. Marty Neese emphasized that the new plan is not about waiting for a market to emerge but rather focusing on the existing market. “Today’s plan is not about waiting for a market to emerge — it’s about focusing on the market that is,” said Mr. Neese. “We are aligning the company to better serve the current demands and opportunities.”

As part of this strategic shift, Ballard is implementing cost-cutting measures and narrowing its product focus to enhance profitability. This marks a departure from long-term expansion goals, concentrating instead on the active fuel cell markets. The company’s efforts are directed towards achieving positive cash flow and strengthening its commercial focus.

Ballard Power Systems Inc., listed on the Toronto Stock Exchange, has a market capitalization of 761,617,728 CAD. The company’s close price on July 30, 2025, was 2.54 CAD, with a 52-week high of 3.1 CAD on July 23, 2025, and a 52-week low of 1.44 CAD on April 8, 2025.

The strategic realignment comes at a time when the broader market is experiencing fluctuations. On July 29, 2025, the NASDAQ Composite ended the session with a loss of 0.38 percent, closing at 21,098.29 points. This market context underscores the importance of Ballard’s decisive shift towards a more focused and financially disciplined approach.

Ballard Power Systems Inc. continues to serve various industries, including materials handling, residential cogeneration, backup power, and transportation, with its hydrogen fuel cell technology. For more information about their products and services, visit their website at www.ballard.com .

This strategic realignment under Marty Neese’s leadership marks a new chapter for Ballard Power Systems Inc., aiming to deliver stronger financial performance and better serve its customers in the evolving market landscape.