AcquisitionsJul 31, 2026, 08:08 AM
Ballard to Acquire GeoPura for £275M; Q2 Revenue Up 15% to $21M
AI Summary
Ballard Power Systems announced an agreement to acquire GeoPura Limited for £275 million, a move expected to transform Ballard into an energy-as-a-service provider. The company also reported strong Q2 2026 financial results, with revenue increasing 15% year-over-year to $20.6 million and gross margin significantly improving to 20%. Order intake was robust at $64 million, boosting the order backlog to $156.6 million, and Adjusted EBITDA showed substantial improvement.
Key Highlights
- Ballard entered a definitive agreement to acquire GeoPura Limited for £275 million in upfront consideration.
- The acquisition is expected to establish Ballard as an energy-as-a-service provider.
- Q2 2026 revenue was $20.6 million, up 15% year-over-year.
- Gross margin reached 20%, an increase of 28-points from (8%) in Q2 2025.
- Order intake was $64 million, strengthening the order backlog to $156.6 million.
- Ended Q2 2026 with $502.1 million in cash and cash equivalents.
- Adjusted EBITDA improved to ($9.8) million from ($30.6) million in Q2 2025.
Price Impact
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