Ballard Power Systems

Schneider Electric

Siemens

General Electric

Hydrogen Economy

Germany-based Quantron develops both electric and hydrogen-powered commercial vehicles. Quantron’s hydrogen vehicles include: 1) Q-Light—a light commercial vehicle (LCV) range of 4.2 and 7.2 ton trucks with a range of up to 500 kilometers and 2) Q-heavy—a heavy commercial vehicle (HCV) range including the company’s flagship hydrogen truck, Energon, a 44 ton truck with a range of up to 700 kilometers. Quantron is a spin-off of Haller, a leading German commercial vehicle company, and leverages the parent company’s expertise and technology for its vehicles.In addition to hydrogen heavy vehicles, Quantron also offers a range of electric buses, LCVs, and HCVs that are already commercialized. The company sources batteries for its electric vehicle (EV) range from Chinese battery manufacturer, CATL. Quantron is also an authorized distributor and a service partner for CATL batteries in Europe.The company also offers Quantron-as-a-Service (QaaS)—a complete solution that includes the EV (Quantron Inside), service and maintenance, insurance, leasing, and financing (Quantron Customer Solutions), green electricity and hydrogen (Quantron Energy), and refueling and charging infrastructure (Quantron Power Station).Key customers and partnershipsIn 2022, Quantron founded the Clean Transportation Alliance (CTA) to support the transition of diesel fleets to climate-friendly vehicles through QaaS. As of February 2024, partners include Ballard Power Systems (Canada), Neuman &amp; Esser (Germany), Hyperion (Germany), FusionOne (US), and blueFLUX Energy (Germany).In <a href="https://sp-edge.com/updates/13731">October 2022</a>, Quantron signed a supply agreement with TMP Logistics, a transportation solutions provider, to supply 500 FCEV Class 8 trucks by 2024, followed by the formation of <a href="https://sp-edge.com/updates/13688">Quantron US</a>. In <a href="https://sp-edge.com/updates/20772">August 2023</a>, Quantron partnered with Mob’Hy, a French producer and distributor of green hydrogen, to supply 253 Quantron FCEVs between 2024 and 2027. In <a href="https://sp-edge.com/updates/26977#:~:text=Analyst%20QuickTake%3A%20In-,September%202023,-%2C%20Quantron%20agreed%20to">September 2023</a>, Quantron agreed to provide its FCEVs to IKEA Austria and support its plans to expand its H2 truck fleet to 40 units. In <a href="https://sp-edge.com/updates/26977">February 2024</a>, the company signed a letter of intent with Hygenox to support its logistics operations by supplying up to eight Quantron FCEVs by 2026.Quantron has partnerships with Ballard Power Systems, a hydrogen fuel cell pioneer; Alternative Energy Driven Solutions, a German provider of hydrogen fuel cell systems for commercial vehicles; and H2GO, a German hydrogen vehicle and infrastructure startup, to develop its commercial offering. In April 2023, the company partnered with Plagazi, a Swedish waste-to-hydrogen producer, to fuel its first 100 trucks with green hydrogen by 2026. In May 2023, Quantron collaborated with <a href="https://sp-edge.com/updates/18154">FirstElement Fuel</a>, a hydrogen fueling station operator, to connect its customers to its hydrogen fueling network across California. In June 2023, the company formed a joint venture called ROQIT with Goldstone Technologies Limited (India) to develop an AI-driven mobility solution for zero-emission fleets. In <a href="https://sp-edge.com/updates/23436">November 2023</a>, the company partnered with Ford Trucks, an HCV manufacturer, to explore the integration of Quantron's technology into Ford's trucks.In May 2023, the company acquired the EYES Group, a subsidiary of FRIEM, an Italian electronics manufacturer, to establish <a href="https://sp-edge.com/updates/19016">Quantron Italy</a> to expand its geographic footprint in southern Europe. In <a href="https://sp-edge.com/updates/23998">November 2023</a>, Quantron partnered with the Oilinvest Group to form a joint venture in Germany called HEMTRON, which will focus on building hydrogen-based refueling infrastructure for FCEVs.Funding and financialsThe company’s most recent funding round was in September 2022, when it raised<a href="https://sp-edge.com/updates/13030"> EUR 50 million</a> (USD 49.8 million) in a Series A funding round co-led by Neuman &amp; Esser and Ballard Power Systems. The proceeds were used to expand the development of fuel cell electric vehicles (FCEV) and battery-electric vehicles (BEV), with a focus on heavy-duty trucks. In May 2021, China Dynamics, a Chinese EV company, purchased 4.98% of Quantron’s shares for an undisclosed amount. Quantron is also expected to source EV components and retrofit kits from China Dynamics.

Quantron is a system provider of clean battery and hydrogen-powered e-mobility for commercial vehicles such as trucks, buses, and vans. In addition to new electric vehicles, the wide range of services offered by the innovation forge includes the electrification of used and existing vehicles, the creation of individual overall concepts including the appropriate charging infrastructure as well as rental, financing, and leasing offers, and driver training. Quantron AG also sells batteries and integrated customized electrification concepts to manufacturers of commercial vehicles, machinery, and intralogistics vehicles.

Wei Chi Teng Automobile is a high-end commercial vehicle R&D and manufacturer.

H2scan Corporation is headquartered in Valencia, California, and was formed September 18, 2002 through an MBO with capital assistance from Vancouver-based Chrysalix Energy Limited Partnership and Ravinia Venture Fund. The company was created upon the purchase of all sensor assets of DCH Sensor Corporation.   Ballard Power Systems Inc., Shell Hydrogen, and Duke Energy formed Chrysalix (www.chrysalix.com) in July 2001. This Partnership has since been joined by The BOC Group, BASF Venture Capital, The Mitsubishi Corporation.  The fundamental technology of H2scan sensor systems was developed by the U.S. National Laboratory at Sandia. H2scan has significantly improved upon this technology through US patents and manufacturing trade secrets.

Ballard Power Systems, Inc. engages in the design, development, manufacture, sale, and service of hydrogen fuel cell products for materials handling, residential cogeneration, backup power, and heavy-duty applications. It operates in three segments: Power Generation, Automotive, and Material Products. The Power Generation segment offers fuel cell products and services for material handling, backup power, and residential cogeneration purposes. The Automotive segment provides fuel-cell products and services for fuel-cell cars, vans, and buses. The Material Products segment offers carbon fiber products primarily for automotive transmissions and gas diffusion layers for fuel cells.

<div> Ballard Power Systems ( Nasdaq/TSX: BLDP ) is a Canadian manufacturer of Proton Exchange Membrane (PEM) fuel-cell power systems. Ballard has been listed on the Nasdaq and Toronto Stock Exchange since 1995 and 1993, respectively. Ballard reported revenue of USD 104.8 million in 2023. The company has yet to profit, having made an operating loss of USD 150.1&nbsp; million in 2023. Ballard offers PEM fuel-cell products for various applications through Heavy-Duty Mobility (including bus, truck, rail, and marine applications), Stationary, Emerging, and Other. Since 2021, Ballard has been focusing on four strategic imperatives. Through these, it expects to invest in PEM fuel-cell technology, expand across the value chain to capture control points, prioritize investments in North America and Europe, monitor China, and deliver a solid ESG proposition for its stakeholders. Ballard is also committed to achieving carbon neutrality by 2030. </div>

Earnings summary: Ballard Power Systems beats bottom-line estimates; lowers FY24 capex outlook

Startups producing low-carbon hydrogen using fossil fuels (i.e. blue and turquoise hydrogen) and related technologies or materials.

Startups producing 100% clean hydrogen using water electrolysis (i.e. green hydrogen) or any other sustainable method as well as related technologies and materials.

Startups offering next-generation hydrogen distribution solutions such as solid and liquid-state hydrogen storage and alternative compression technologies for gaseous-state hydrogen storage. Also includes hydrogen fueling stations for mobility applications.

Startups developing hydrogen-powered vehicles and vehicle technologies including passenger, heavy-duty, and aerial vehicles.

Startups producing fuel cell systems for electricity generation using hydrogen and related technologies or materials.

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>

 Ballard Power Systems, a leader in proton exchange membrane (PEM) fuel-cell technology, has been granted USD 54 million in tax credits from the US Internal Revenue Service through the Qualifying Advanced Energy Project Tax Credit initiative, part of the Inflation Reduction Act. The company will use these funds to support their upcoming fuel-cell gigafactory in Rockwall, Texas, aiming to begin production of next-gen fuel cells in late 2027.
 
 The USD 54 million award supplements the preceding grant of USD 40 million, raising Ballard Power System's total federal funding to USD 94 million. Furthermore, Ballard has entered into a long-term partnership with Solaris Bus &amp; Coach, a Polish bus and trolley production firm. This agreement involves supplying 1,000 hydrogen fuel-cell engines for the European bus market through 2027.

</div>

Ballard Power Systems

Featured Industries

EDGE Insights

About EDGE

Contact Us

Resources

Area of Focus

Technology Research Made Effortless