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Boston Globe
15 hours ago
- Business
- Boston Globe
‘You have to do everything:' Harvard's high-powered D.C. lobbyists an essential part of plan to counter Trump
While Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up The university's hiring of Ballard, perhaps the most sought-after lobbyist in Trump's Washington, was a clear early indicator of its strategy. A former lobbyist for the Trump Organization, and a prodigious fund-raiser for the president's campaigns, Ballard counts several top administration officials as close allies, most notably Susie Wiles, the White House chief of staff, who once worked for Ballard's firm. Advertisement Harvard also maintains an office in Washington with three lobbyists who advocate its priorities full time, led by Suzanne Day, who has worked for the university since 2000. On top of that, Harvard has long contracted with a boutique D.C. firm headed up by Kip O'Neill — son of the late Massachusetts legend and Speaker of the House Tip O'Neill — to augment its federal relations work. Advertisement All that wheeling and dealing doesn't come cheap. In 2024, Harvard spent $720,000 on federal lobbying, With its unparalleled resources, Harvard is likely positioned better than any other university to fund a multi-pronged defense against Trump. According to lobbyists and experts on the industry, a strong D.C. influence operation should be an essential element of that response. 'They're in a uniquely challenging situation,' said Steve Elmendorf, a veteran Democratic lobbyist. 'They need to use high-level relationships to get information, advocate, get access, but they also need to work to change the political dynamic in individual states and congressional districts.' 'If you're in the kind of situation Harvard and many other universities are either in, or are going to be in,' Elmendorf said, 'you have to do everything.' The thornier question is how exactly Harvard's high-powered, scaled-up lobbying team will influence specific outcomes with Trump. Publicly, the president has not signaled any intent to back down in his campaign against the university, saying last week that while he wanted it to 'be great again,' he believed 'all they're doing is getting in deeper and deeper and deeper.' David Tamasi, a longtime GOP lobbyist, said 'it's become an unfair fight' for Harvard in Washington. He noted that Harvard's strongest advocates have historically been in the Massachusetts congressional delegation, which has been all-Democratic since the 1990s, leaving the university less equipped to handle a Republican administration. Advertisement 'The challenge for Harvard is you were caught off guard, or perhaps lulled about the way the world was before … now, all of a sudden, you're taking real incoming fire, and you don't have any or very limited Republican political capital to deploy,' Tamasi said. 'The issue is not how do you manage it now — the issue is, what should you have done before?" Still, lobbying industry experts said Harvard's influence campaign could have meaningful impacts worth the return on investment. 'A lot of what lobbying is is very unsexy — sanding off the edges, crafting language, softening attacks,' said Lee Drutman, a senior fellow at the New America Foundation think tank who studies the lobbying industry and wrote a 2015 book on the subject. 'It's not going to make people jump and shout, but it's the small game of inches on which political wins and losses are judged,' he said. 'In many ways, it's like advertising. You don't know what works and what doesn't. But you know if you're not doing it, you really have no chance of success.' Harvard did not make any of its lobbyists available for an interview. In response to detailed questions from the Globe about its advocacy in the capital, Harvard spokesman Jason Newton said that the university 'is active in Washington in support of its educational and research mission.' 'Beyond direct engagement, the university also works in partnership with leading higher education and scientific societies, peer institutions, and various advocacy partners to advance support for the federal university partnership,' Newton said. Advertisement Neither Ballard Partners nor O'Neill's firm responded to requests for comment. Lobbying has long been a billion-dollar business in Washington, with spending totals continuing to climb each year. Overall spending on federal lobbyists topped $1.2 billion in the first three months of the new Trump administration, according to the database OpenSecrets. That total was $867 million in the same period during the first Trump administration. Universities and higher education organizations have accounted for a growing share of lobbying business, said Drutman. Harvard was not the only institution of higher education to scale up its D.C. influence apparatus as Republicans seemed eager to go after universities over their handling of Gaza campus protests and other contentious matters. In January, Columbia University, which eventually bowed to Trump's demands in order to restore $400 million in federal funding, hired the Washington firm BGR Group. Yale University enlisted the firm Akin Gump in March. And the Association of American Universities, a group that advocates on behalf of the country's most prestigious and significant research universities, including Harvard, Tufts, and Boston University, hired the firm DLA Piper in April. All rank among the top Washington lobbying shops. But Harvard was the only one to nab Ballard Partners. During the first Trump administration, Ballard established himself as the eminent Trump-whisperer on K Street, where many Washington lobbying firms are located. The distinctly Floridian nature of Trump's power circle in his second administration was a boon for Ballard, who remains rooted in Tallahassee politics. In addition to Wiles, Ballard counts Attorney General Pam Bondi, the former Florida attorney general, as a former colleague at his firm. He was also a major fund-raiser for former Florida senator and now-Secretary of State Marco Rubio. Advertisement Those connections, plus Ballard's own longstanding relationship with Trump, had Fortune 500 companies clamoring to hire him; in addition to Harvard, the likes of Chevron, JP Morgan, and Netflix have become Ballard clients since the November election. The business bonanza reportedly created some strife: According to Steve Schale, a veteran Florida Democratic operative and occasional lobbyist who has known Ballard for years, he will likely be a strong asset for Harvard. His impact may be felt less through placing a decisive call to the White House at a key moment and more in the knowledge he can provide to Harvard's team about Trump and his orbit, Schale said. 'The public perception that you pick up the phone and call Susie Wiles and Donald Trump and [say], 'make this go away,' that's just not how it works,' he said. 'Where Brian is super helpful to Harvard is, just explaining the people and motivations and what the art of the possible looks like.' 'There is a point where relationships are not ever going to trump the politics of something,' he added. 'But having an open line of communication, helping the client understand … the public official wants to do X, but there's a lot of gray space around that, how do we navigate that?' Just as important, lobbying experts said, is enlisting allies to help make Harvard's case to the administration and Republicans in Congress. Framing the elimination of federal funding for the university as a major blow to economic growth and health care innovation on a national level could help, especially if Harvard can enlist unexpected advocates to take up the case, said Drutman. Advertisement 'That's what successful lobbying often looks like,' he said. 'Building coalitions so you reach people with arguments that they may not necessarily be receptive to if it were coming from Harvard.' Sam Brodey can be reached at
Boston Globe
18 hours ago
- Business
- Boston Globe
'You have to do everything:' Harvard's high-powered D.C. lobbyists an essential part of plan to counter Trump
While Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up The university's hiring of Ballard, perhaps the most sought-after lobbyist in Trump's Washington, was a clear early indicator of its strategy. A former lobbyist for the Trump Organization, and a prodigious fund-raiser for the president's campaigns, Ballard counts several top administration officials as close allies, most notably Susie Wiles, the White House chief of staff, who once worked for Ballard's firm. Advertisement Harvard also maintains an office in Washington with three lobbyists who advocate its priorities full time, led by Suzanne Day, who has worked for the university since 2000. On top of that, Harvard has long contracted with a boutique D.C. firm headed up by Kip O'Neill — son of the late Massachusetts legend and Speaker of the House Tip O'Neill — to augment its federal relations work. Advertisement All that wheeling and dealing doesn't come cheap. In 2024, Harvard spent $720,000 on federal lobbying, With its unparalleled resources, Harvard is likely positioned better than any other university to fund a multi-pronged defense against Trump. According to lobbyists and experts on the industry, a strong D.C. influence operation should be an essential element of that response. 'They're in a uniquely challenging situation,' said Steve Elmendorf, a veteran Democratic lobbyist. 'They need to use high-level relationships to get information, advocate, get access, but they also need to work to change the political dynamic in individual states and congressional districts.' 'If you're in the kind of situation Harvard and many other universities are either in, or are going to be in,' Elmendorf said, 'you have to do everything.' The thornier question is how exactly Harvard's high-powered, scaled-up lobbying team will influence specific outcomes with Trump. Publicly, the president has not signaled any intent to back down in his campaign against the university, saying last week that while he wanted it to 'be great again,' he believed 'all they're doing is getting in deeper and deeper and deeper.' David Tamasi, a longtime GOP lobbyist, said 'it's become an unfair fight' for Harvard in Washington. He noted that Harvard's strongest advocates have historically been in the Massachusetts congressional delegation, which has been all-Democratic since the 1990s, leaving the university less equipped to handle a Republican administration. Advertisement 'The challenge for Harvard is you were caught off guard, or perhaps lulled about the way the world was before … now, all of a sudden, you're taking real incoming fire, and you don't have any or very limited Republican political capital to deploy,' Tamasi said. 'The issue is not how do you manage it now — the issue is, what should you have done before?" Still, lobbying industry experts said Harvard's influence campaign could have meaningful impacts worth the return on investment. 'A lot of what lobbying is is very unsexy — sanding off the edges, crafting language, softening attacks,' said Lee Drutman, a senior fellow at the New America Foundation think tank who studies the lobbying industry and wrote a 2015 book on the subject. 'It's not going to make people jump and shout, but it's the small game of inches on which political wins and losses are judged,' he said. 'In many ways, it's like advertising. You don't know what works and what doesn't. But you know if you're not doing it, you really have no chance of success.' Harvard did not make any of its lobbyists available for an interview. In response to detailed questions from the Globe about its advocacy in the capital, Harvard spokesman Jason Newton said that the university 'is active in Washington in support of its educational and research mission.' 'Beyond direct engagement, the university also works in partnership with leading higher education and scientific societies, peer institutions, and various advocacy partners to advance support for the federal university partnership,' Newton said. Advertisement Neither Ballard Partners nor O'Neill's firm responded to requests for comment. Lobbying has long been a billion-dollar business in Washington, with spending totals continuing to climb each year. Overall spending on federal lobbyists topped $1.2 billion in the first three months of the new Trump administration, according to the database OpenSecrets. That total was $867 million in the same period during the first Trump administration. Universities and higher education organizations have accounted for a growing share of lobbying business, said Drutman. Harvard was not the only institution of higher education to scale up its D.C. influence apparatus as Republicans seemed eager to go after universities over their handling of Gaza campus protests and other contentious matters. In January, Columbia University, which eventually bowed to Trump's demands in order to restore $400 million in federal funding, hired the Washington firm BGR Group. Yale University enlisted the firm Akin Gump in March. And the Association of American Universities, a group that advocates on behalf of the country's most prestigious and significant research universities, including Harvard, Tufts, and Boston University, hired the firm DLA Piper in April. All rank among the top Washington lobbying shops. But Harvard was the only one to nab Ballard Partners. During the first Trump administration, Ballard established himself as the eminent Trump-whisperer on K Street, where many Washington lobbying firms are located. The distinctly Floridian nature of Trump's power circle in his second administration was a boon for Ballard, who remains rooted in Tallahassee politics. In addition to Wiles, Ballard counts Attorney General Pam Bondi, the former Florida attorney general, as a former colleague at his firm. He was also a major fund-raiser for former Florida senator and now-Secretary of State Marco Rubio. Advertisement Those connections, plus Ballard's own longstanding relationship with Trump, had Fortune 500 companies clamoring to hire him; in addition to Harvard, the likes of Chevron, JP Morgan, and Netflix have become Ballard clients since the November election. The business bonanza reportedly created some strife: According to Steve Schale, a veteran Florida Democratic operative and occasional lobbyist who has known Ballard for years, he will likely be a strong asset for Harvard. His impact may be felt less through placing a decisive call to the White House at a key moment and more in the knowledge he can provide to Harvard's team about Trump and his orbit, Schale said. 'The public perception that you pick up the phone and call Susie Wiles and Donald Trump and [say], 'make this go away,' that's just not how it works,' he said. 'Where Brian is super helpful to Harvard is, just explaining the people and motivations and what the art of the possible looks like.' 'There is a point where relationships are not ever going to trump the politics of something,' he added. 'But having an open line of communication, helping the client understand … the public official wants to do X, but there's a lot of gray space around that, how do we navigate that?' Just as important, lobbying experts said, is enlisting allies to help make Harvard's case to the administration and Republicans in Congress. Framing the elimination of federal funding for the university as a major blow to economic growth and health care innovation on a national level could help, especially if Harvard can enlist unexpected advocates to take up the case, said Drutman. Advertisement 'That's what successful lobbying often looks like,' he said. 'Building coalitions so you reach people with arguments that they may not necessarily be receptive to if it were coming from Harvard.' Sam Brodey can be reached at
Yahoo
5 days ago
- Business
- Yahoo
Bill weakening Nebraska paid sick leave passes, but Dems stall effort to slow minimum wage growth
State Sen. Jane Raybould of Lincoln, center, talks with State Sens. Paul Strommen of Sidney and Kathleen Kauth of the Millard area on May 28, 2025. Raybould sponsored a measure to slow voter-approved minimum wage increases while Strommen sponsored a measure to weaken voter-approved paid sick leave. Kauth chairs the Legislature's Business and Labor Committee. (Zach Wendling/Nebraska Examiner) LINCOLN — A majority of Nebraska Democrats and one Republican in the officially nonpartisan Legislature successfully blocked an attempt to add a proposal to slow the state's voter-approved minimum wage increases to a bill weakening voter-passed paid sick leave. State Sen. Jane Raybould filed her once-defeated minimum wage proposal as an amendment to Lincoln State Sen. Beau Ballard's Legislative Bill 415 after Speaker John Arch decided not to reschedule her stand-alone bill due to time constraints. Lawmakers were unable to consider the amendment — which was likely to pass — because Democratic-aligned lawmakers had already filed several motions to filibuster Ballard's original proposal. Raybould said her reason for wanting to act now had to do with the political dynamics facing her bill if the lawmakers wait. She said it would be harder to reduce pay for young people after the fact. Raybould's revived proposal, in its current form, would shrink the wage increases by setting the annual increase at 1.75%. It also would create a youth minimum wage and amend a separate state training wage. Raybould and supporters of her measure said her changes would protect small businesses that could not afford to pay more. Lawmakers against the legislative effort to slow wage growth said they were defending the people's will. 'Despite continued efforts to walk back the voice of the people, I'm glad that we were at least able to fight for everyday working Nebraskans by stopping this attack on minimum wage.' State Sen. George Dungan of Lincoln said after the vote. Raybould pushed back by saying Nebraska lawmakers aren't trying to undermine what voters approved the way Missouri and some other state Legislatures have done in recent months. Missouri recently repealed a paid sick leave law that voters approved just months before. 'We care about our working families,' Raybould said during the LB 415 debate. 'These two bills help our Nebraska families.' Worker advocates and union leaders have spoken out against the paid sick leave and mimmutin wage changes as attempts to undermine voters. Ballard had previously said he didn't consider Raybould's amendment unfriendly and would have supported it. 'It was worth a swing,' Ballard told the Examiner. Even though Democratic-aligned lawmakers blocked Raybould's amendment from being considered the GOP majority passed Ballard's proposal 33-15. It adds new restrictions to the paid sick leave law Nebraska voters approved last year, which has yet to be implemented. LB 415 would remove the voter-approved law's blanket sick leave requirements, letting employers offer no paid sick leave to young teens, ages 14 and 15, and none to temporary workers, seasonal agricultural workers and workers at the state's smallest businesses, those with 10 or fewer employees. Ballard said the proposal intends to clarify and make the ballot measure 'more feasible' and workable for businesses. Passage of LB 415 is the latest part of a trend of the GOP-led Legislature pushing back against a handful of ballot measures passed by Nebraska voters. Targets this year include voter efforts to require paid sick leave, raise the minimum wage, repeal school vouchers and legalize and regulate medical marijuana. Raybould's stand-alone bill will most likely be voted on next session. Though highly unlikely, Arch could change his mind about scheduling it. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Politico
5 days ago
- Business
- Politico
The lobbyist who rejected Harvard
FIRST IN PI — MILLER DECLINED TO HELP HARVARD: Top GOP fundraiser Jeff Miller turned down an offer to represent Harvard University in February as the institution took on heavy fire from the Trump administration, two people familiar with the matter told your PI host and Daniel. Miller's decision deprived the Ivy League school of a second lobbyist with strong connections to the White House ahead of its rapidly escalating standoff with President Donald Trump. — A month earlier, in January, another Trump-connected firm, Ballard Partners, signed up Harvard for a retainer of $90,000 per quarter to provide 'advocacy supporting education and educational research.' The firm's founder, Brian Ballard, found himself in the crosshairs of Trump White House officials in recent weeks before scoring an Oval Office sitdown with Trump. — Altogether, Harvard dropped $230,000 on federal lobbying during the first quarter of this year, up from $170,000 during the last three months of 2024 and $130,000 during the same time a year ago. The university also retains O'Neill, Athy & Casey. A spokesperson for Harvard didn't respond to a request for comment. — Ballard signed Harvard in early January, weeks before Trump's new administration began its broader crackdown on college campuses. Ballard also represents the University of Michigan and Vanderbilt University. — In this administration, lobbyists and lawyers need to pay attention to how potential or existing clients are viewed by the president. Trump wasn't pleased, for example, when he learned that Quinn Emanuel lawyer Bill Burck was representing Harvard as a client at the same time he was working for the Trump Organization. — In short order, Burck was fired by the Trump Organization. An attorney whom the Trump Org had hailed months earlier as 'one of the nation's finest and most respected lawyers' was dismissed by Trump in April as 'not that good, anyway.' — Ballard dropped POLITICO parent company Axel Springer earlier this month, but the firm still represents PBS, for which Trump has moved to revoke federal funds. And both Ballard and Miller represent Big Law firms that cut deals with the president earlier this year in order to avoid being targeted by executive orders. Miller also represents several other universities punished by Trump, including Cornell, Northwestern and Johns Hopkins. Happy Wednesday and welcome to PI. Send K Street tips and gossip. You can add me on Signal, email me at coprysko@ and be sure to follow me on X: @caitlinoprysko. NEW BUSINESS: AHIP, which represents major health insurers, has brought on its sixth outside lobbying firm — and its second new outside firm so far this year. — According to a disclosure filing, the insurance lobby retained Whitmer & Worrall last week to lobby on prescription drug prices, following the passage of House Republicans' reconciliation bill, which included a number of provisions aimed at reining in pharmacy benefit managers — the biggest of which are owned by insurance companies that are members of AHIP. — Last month, AHIP hired Scott Raab, longtime top aide to former Senate GOP leader Mitch McConnell. — Newly filed disclosures also show that a top manufacturer of treatments for rare diseases and a major trade group representing the sector brought on new lobbying help ahead of a major win for so-called orphan drugs in the reconciliation bill. Ultragenyx Pharmaceutical hired veteran health care lobbyist Max Bronstein of MGB Consulting, while the Rare Disease Company Coalition, which counts Ultragenyx as a member, retained Ferox Strategies. — The Inflation Reduction Act included an exclusion from its drug pricing provisions for products approved to treat a single rare disease. Orphan drugmakers, who argued the exemption would disincentivize development of drugs that could treat more than one condition, successfully pushed for an expansion in the House-passed measure. WHEN LIFE HANDS YOU LEMONS: 'The head of the world's largest aircraft leasing company has called on U.S. President Donald Trump to renegotiate and expand a duty-free trade agreement for the aircraft industry to include newcomers like China in a new lobbying twist to the trade war,' Reuters' Tim Hepher and David Shepardson report. — 'The aerospace industry has for weeks been pushing for exemptions to tariffs introduced by Trump, or to any foreign retaliation, and wants a return to the status quo represented by a 1979 deal between some 30 nations to ban tariffs on jetliners. But Aengus Kelly, chief executive of AerCap, said the current trade crisis also represented a chance to expand and improve the decades-old pact to ensure a level playing field under what he termed a 'Trump trade accord' for aviation.' — 'The call for a Trump-led renegotiation marks a shift of emphasis by the aviation industry, which has so far focused mainly on restoring the existing tariff-free regime. … The call for an expanded pact comes as China is increasing production of a home-grown competitor to Boeing and Airbus' and as Boeing appears poised to become collateral in an extended trade war. TALES FROM THE CRYPTO: 'Washington's most powerful cryptocurrency champion is starting to become a headache for the industry,' POLITICO's Declan Harty writes. Trump's web of family businesses 'is quickly establishing itself as a new crypto empire,' triggering alarm from Democrats, ethics hawks and, increasingly, industry itself. — 'With critical legislation advancing on Capitol Hill, several lobbyists and executives say they are worried that the president could undermine their policy agenda and even jeopardize his own efforts to establish the U.S. as the world's crypto capital.' — 'The industry's brewing concerns present a new front in the pushback in Washington over Trump's increasing footprint within the industry, which critics have warned could become a new means for corporate actors and foreign entities to influence the administration.' WATCHING THE WATCHDOGS: 'After firing inspectors general at 19 agencies in an unprecedented purge, Trump has named six replacements in recent weeks, including three with clearly partisan backgrounds. Two of those have controversial histories and two have ties to the agency they would be responsible for investigating,' per the Washington Post's Meryl Kornfield and Lisa Rein. — They include Labor IG pick Anthony D'Esposito, the former Republican congressman 'who lost his New York seat after he was accused of putting his mistress and his fiancée's daughter on his payroll.' — There's also HHS IG nominee Thomas March Bell, who 'resigned from a government job over an allegation of mishandling taxpayers' money and has pursued cases against abortion clinics as a GOP attorney,' and Cheryl Mason, who said in paperwork related to her nomination as the IG at the Department of Veterans Affairs that she continued advising VA Secretary Doug Collins even after her nomination to oversee his agency. Jobs report — The Blockchain Association has promoted Allie Page to chief operating officer, Curtis Kincaid to chief marketing and communications officer, Dan Spuller to executive vice president of industry affairs and Sarah Milby to chief policy officer. — James Allan has joined APCO's financial advisory and communications practice as a senior director in the New York office. He was most recently a senior vice president at Rubenstein and is a Mercer Wealth, Brunswick Group and Edelman alum. — 314 Action has added Bri Gillis as a campaign adviser for federal and statewide candidates, Eden Giagnorio as comms director and Tara Saye as deputy development director. — Cheyenne Hunt is now executive director of Gen-Z for Change. She previously was a big tech accountability advocate at Public Citizen and is an Amy Klobuchar alum. — Chris Crawford will be senior director of civil strategies at Interfaith America. He currently is a policy strategist of free and fair elections at Protect Democracy. — Emma Mears is now head of membership development at Ned's Club. She previously was membership and community manager. And Jenna Groesch is now head of membership at Ned's Club. She previously was membership executive at the club's New York location. — The Heritage Foundation has promoted EJ Antoni to chief economist. Antoni was previously a research fellow and the Richard Aster fellow at the think tank's Grover M. Hermann Center for the Federal Budget. — Emily Domenech has been tapped to lead the Federal Permitting Improvement Steering Council. She most recently was a senior vice president at Boundary Stone Partners, and is a Mike Johnson and Kevin McCarthy alum. — Matthew Christiansen is now a partner in Wilson Sonsini's energy and climate solutions practice. He previously was general counsel at the Federal Energy Regulatory Commission. — Alex Rosenwald is now a director at DCI Group. He previously was senior director of comms at The Hill. — Laura Akowuah is now special counsel at Cooley. She previously was acting director of the office of enforcement in the FDA's Human Foods Program. — Stephen Gallagher is now an associate at Watchtower Strategy. He previously was staff assistant/press assistant for Rep. John McGuire (R-Va.). New Joint Fundraisers TEAM KLACIK (Kim Klacik for Congress, Red Renaissance, Inc.) New PACs Congressional Republican Organization of Illinois PAC (PAC) Protect Their Future PAC (Super PAC) New Lobbying REGISTRATIONS Cornerstone Government Affairs, Inc.: Georgia Hospital Association, Inc. Elevate Government Affairs, LLC: Atomic Machines, Inc. Elevate Government Affairs, LLC: Cirrus Design Corporation Elevate Government Affairs, LLC: Spokane Airport Board First Day Pr: Blue State Action, Inc. S2R, LLC: Stillwater Mining Co. (D/B/A Sibanye-Stillwater) Turbovets, Inc.: Turbovets, Inc. Whitmer & Worrall, LLC: Ahip Williamson Law + Policy Pllc: Coalition For The Use Of Safe And Efficient Refrigerants New Lobbying Terminations None.
The Market Online
6 days ago
- Business
- The Market Online
Green shoots: Small-cap clean tech and energy stocks to watch
As the global economy accelerates its transition toward sustainability, Canadian small-cap clean tech and energy companies are gaining momentum Two standout names—Ballard Power Systems and TerraVest Industries Inc.—are proving that innovation and execution can drive growth, even in a volatile market Revenue for Ballard's Q1 2025 reached $15.4 million, marking a 6% year-over-year increase TerraVest closed a bought deal treasury offering, generating gross proceeds of $320.76 million As the global economy accelerates its transition toward sustainability, Canadian small-cap clean tech and energy companies are gaining momentum. Two standout names—Ballard Power Systems and TerraVest Industries Inc.—are proving that innovation and execution can drive growth, even in a volatile market. Ballard Power Systems: Fuelling the future Earlier this month, Ballard Power Systems (TSX:BLDP) announced its Q1 2025 results, offering a glimpse into the company's strengthening fundamentals. Revenue for the quarter reached $15.4 million, marking a 6 per cent year-over-year increase, primarily fueled by robust demand in the bus market. Notably, engine shipments surged 31 per cent, underscoring Ballard's growing traction in the hydrogen fuel cell space. This performance is more than just a quarterly win—it reflects a broader trend of increasing adoption of zero-emission transportation solutions. With governments around the world, including Canada, doubling down on clean energy incentives and infrastructure, Ballard is well-positioned to capitalize on this momentum. TerraVest Industries Inc.: Building an energy empire Meanwhile, TerraVest Industries Inc. (TSX:TVK) made headlines last week with a major capital raise. The company successfully closed a bought deal treasury offering, issuing 2,001,000 common shares at $160.30 per share, generating gross proceeds of $320.76 million. This includes $41.84 million from the full exercise of the over-allotment option granted to underwriters led by National Bank Financial Markets, Canaccord Genuity, and Desjardins Capital Markets. The net proceeds will initially be used to repay existing debt and support general corporate activities, with a longer-term view toward future acquisitions and growth opportunities. TerraVest's diversified portfolio in energy equipment manufacturing and its disciplined capital allocation strategy make it a compelling player in the clean energy value chain. A Month of momentum Looking back on the month, both companies have rewarded investors with solid gains: TerraVest stock is up 11.68 per cent Ballard Power Systems stock rose 7.54 per cent These gains reflect growing investor confidence in their respective strategies and the broader clean energy narrative. Final thought: Due diligence is key While the recent performance of Ballard and TerraVest is encouraging, investors should conduct deeper due diligence into each company's fundamentals, competitive positioning, and long-term growth prospects. Clean tech is a sector rich with potential—but also complexity. As the green economy takes root, these small-cap innovators may just be the green shoots that grow into tomorrow's giants. Join the discussion: Find out what everybody's saying about these stock on the diversified utilities Bullboards, and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
