Latest news with #Verdagy
Yahoo
16-06-2025
- Business
- Yahoo
Ballard announces leadership transition
VANCOUVER, BC, June 16, 2025 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced a planned leadership transition. After more than a decade of transformative leadership, Randy MacEwen will step down as President and Chief Executive Officer, with Marty Neese assuming the position effective July 7, 2025. "It has been a true privilege to lead Ballard for the past 11 years during a dynamic period for the company and hydrogen industry," said Randy MacEwen. "We have built a strong foundation that has positioned the company as an industry leader. Given changing industry dynamics, including a focus on product cost reduction, it is the right time for a new leader with a strong operational background to guide Ballard into the future." The Board of Directors has appointed Marty Neese as President & CEO following a succession planning process. A seasoned executive with a deep background in operations, Mr. Neese has extensive experience in product standardization, product cost reduction, volume production, and gross margin optimization. Mr. Neese has served on Ballard's Board of Directors over the past 10 years, and as the CEO of Verdagy, an innovative electrolysis and green hydrogen company, over the past four years. Earlier in his career, he served as the chief operating officer of SunPower and Flex. With his background and experience, Mr. Neese is uniquely qualified to drive the company's next phase of growth and operational efficiency. "Marty is the right leader for Ballard as the fuel cell industry undergoes a period of rationalization and competitive realignment," said Jim Roche, Chair of the Board of Directors. "His proven track record in operational excellence, product innovation and commercialization, and cost management will ensure Ballard not only adapts to this new environment but thrives in it." "The fuel cell industry is entering a new phase, and Ballard is taking decisive steps to position itself for long-term sustainable success," said Mr. Neese. "I am honored to step into this role at a company with such a strong brand, and a leading track record for safety, technology, and proven field performance in our target markets. We have a fortress balance sheet with no requirements for near-term or mid-term financings. Working alongside our talented team, I look forward to building on this solid foundation, optimizing our operations, accelerating innovation, and unlocking long-term value for our stakeholders." The leadership transition has been carefully planned to ensure a seamless and orderly handover. Mr. MacEwen will continue to serve as the CEO until Marty's start date and then will remain available in an advisory capacity through September 30, 2025. About Ballard Power Systems Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells enable electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit This release contains forward-looking statements concerning anticipated impacts of the announced leadership change. These forward-looking statements reflect Ballard's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any such forward-looking statements are based on Ballard's assumptions relating to its financial forecasts and expectations regarding its product development efforts, manufacturing capacity, and market demand. These statements involve risks and uncertainties that may cause Ballard's actual results to be materially different, including general economic and regulatory changes, detrimental reliance on third parties, successfully achieving our business plans and achieving and sustaining profitability. For a detailed discussion of these and other risk factors that could affect Ballard's future performance, please refer to Ballard's most recent Annual Information Form. Readers should not place undue reliance on Ballard's forward-looking statements and Ballard assumes no obligation to update or release any revisions to these forward-looking statements, other than as required under applicable legislation. Further Information Ballard Power Systems: Sumit Kundu – Investor Relations, +1.604.453.3517 or investors@ View original content to download multimedia: SOURCE Ballard Power Systems Inc.
Yahoo
18-03-2025
- Business
- Yahoo
Verdagy Selects Black & Veatch for a Front-End Engineering Design (FEED) Study for its 9,000 tons/year (60-megawatt) Clean Hydrogen Plant in Texas
MOSS LANDING, Calif., March 18, 2025 /PRNewswire/ -- Verdagy, a leading clean hydrogen electrolysis company, announced that it has selected Black & Veatch, a global engineering, procurement, consulting and construction company as the FEED contractor for its 60-megawatt (MW) clean hydrogen project near the Gulf Coast in Texas. The project has a production capacity of more than 9,000 tons/year of clean hydrogen, with a targeted FEED completion in May 2025 and Final Investment Decision (FID) in July 2025. "We're excited to tap Black & Veatch with its deep domain expertise for this FEED study," said Verdagy President Rahul Bammi. "This project will bring over $150 million of investment to Texas, increase U.S. energy exports and create American jobs and be the precursor to over a gigawatt of upcoming projects in the state." "Black & Veatch has broad experience in project execution, and infrastructure development in gas storage, processing and liquefaction. We've worked on front-end engineering design, and complete engineering, procurement, and construction of hydrogen electrolysis projects across North America and we're pleased to be selected for this study," said Anand Pattani, vice president and managing director of Energy Majors, Black & Veatch. "We will utilize this expertise as we support Verdagy on this project, which will help develop the U.S. energy industry and strengthen U.S. energy exports." The project will use Verdagy's eDynamic® electrolyzers, which offer the widest dynamic operating range in the industry and will match the ERCOT grid's energy variations in real time to improve grid resilience, to maximize hydrogen production that is both RFNBO compliant to meet European RED III requirements and 45V compliant to meet U.S. Treasury requirements. Verdagy's electrolyzers are designed, and manufactured in the U.S. and are creating jobs across the entire domestic supply chain. About Verdagy Verdagy manufactures Dynamic AWE electrolyzers that provide the lowest levelized cost of hydrogen (LCOH) and highest asset utilization by integrating seamlessly with intermittent energy sources, and market-leading efficiencies. Verdagy's electrolyzers are manufactured and fabricated in the U.S. Verdagy also operates a hydrogen production plant and R&D complex in Moss Landing, California where it continues to advance its cutting-edge technologies. Media Contact Eric Anseleric@ View original content to download multimedia: SOURCE Verdagy Sign in to access your portfolio
