Ballard Power Systems to buy GeoPura for £275 million, expanding hydrogen energy‑as‑a‑service

Ballard Power Systems reported second‑quarter 2026 results showing revenue of $21 million, a 15 % year‑over‑year increase, and a gross margin of 20 %, up 28 percentage points. Order intake reached $64 million, raising the backlog to $157 million, and cash and cash equivalents stood at $502 million.

The company also announced a definitive agreement to acquire UK‑based GeoPura Limited for £275 million in upfront consideration, subject to customary closing conditions and regulatory approvals. CEO Marty Neese said the deal will transform Ballard into an energy‑as‑a‑service provider, adding hydrogen power units, fuel supply and equipment‑rental services, and is expected to close later in the year. The acquisition aims to capture a larger share of the hydrogen value chain and support Ballard’s goal of profitability by the end of 2027.