Are you looking for top stocks to invest in today? Are you struggling with dead-end stocks in your portfolio? Ballard Power Systems Inc. (TSX:BLDP)(NYSE:BLDP) can help.
An investor who invested $5,000 in Ballard Power stock back in 2019 would have seen this grow to $26,500 today. That’s a 413% return in less than two years! But this momentum is just beginning for Ballard Power stock. The fuel cell as a clean energy source is making headway around the world. And Ballard is a leading global provider of innovative clean energy and fuel cell solutions.
Ballard Power stock: a leading market share and accelerating growth
So if you’re wondering if you’ve missed your chance to invest in Ballard Power stock, read on for some key facts. Ballard’s second quarter conference call highlighted some very positive points. We got increased visibility into the company’s future and we saw evidence of big steps forward in this young but booming industry.
In Europe, the momentum for fuel cells continues to build. In its economic recovery plan, there’s a clear focus on kick-starting a hydrogen clean economy. This means that by 2025/2030, hydrogen will become an integral part of the energy system. And this increased scale will lead to hydrogen becoming cost competitive.
Furthermore, governments in Europe will spend $24 billion to $42 billion on the hydrogen initiative. They will support the build-out of fuel cell trucks, trains, and buses and the building of the required infrastructure.
In California, more big things are happening. By 2045, trucks are required to be zero emission vehicles. By 2024, 9% of truck sales are required to be zero emission trucks. And California has chosen fuel cells as its method for de-carbonizing.
Finally, in China there are approximately 3,200 fuel cell electric vehicles with 40 million kilometres of driving experience. There are 52 hydrogen fuelling stations in service and an additional 50 in construction.
Fuel cell buses have already been established as the clean energy solution for buses. There are currently over 2,900 fuel cell buses worldwide. Ballard’s market share is over 30% in this market. Next, is the heavy duty truck industry, the railway industry, and even the marine industry.
We can see that the fuel cell electric vehicle industry is booming! As a result, Ballard Power stock will continue to be a top stock!
Ballard Power: 20% to 30% sales growth coming soon
In the next couple of years, Ballard’s record high sales pipeline will translate to booming sales. This inflection point will come as a surprise to many who have not been paying attention to this company. It will send Ballard Power stock higher and attract new investors.
Beyond this, there is another inflection point in sales coming. This will bring with it even stronger sales growth as the benefits of fuel cells become apparent in other industries. I can name the marine industry and the distributed power generation industry.
In fact, I have heard some of the big power giants, such as Altagas and Enbridge, talk about building out their infrastructure to accommodate hydrogen. Their interest in hydrogen as a clean energy source of the future is big for fuel cell companies like Ballard Power.
Foolish bottom line
Ballard Power stock has made its shareholders massive amounts of money since 2019. But this momentum is just getting started. The future of the fuel cell is bright.
In fact, it will be a key energy source in the world’s fight to de-carbonize its economies. At $20 today, Ballard stock is a steal given the massive upside.
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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.
Fool contributor Karen Thomas owns shares of BALLARD POWER.