While receiving robust demand from European transportation companies, Ballard Power's order backlog grew 38% sequentially in Q1 2024 to $180.5 million. Whether Ballard Power can reasonably and efficiently execute on this order backlog remains to be seen. The firm delivered around $14.5 million worth of orders in Q1 2024 despite starting the period with $130.5 million worth of orders. This perhaps indicates an elongated ramp-up period and would explain Ballard Power's need to create another manufacturing facility in Rockwall, Texas.