VANCOUVER, BC and YUNFU, China, July 2,
2020 /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX:
BLDP) today announced that it has received a purchase order for
$7.7 million of membrane electrode
assemblies (MEAs) for use in manufacturing
FCvelocity®-9SSL fuel cell stacks from Guangdong Synergy
Ballard Hydrogen Power Co., Ltd. (Synergy-Ballard JVCo), a joint
venture in which Ballard holds a 10% ownership interest.
Synergy-Ballard JVCo was established in 2017 between
Ballard and Guangdong Nation Synergy Hydrogen Power Technology Co.
Ltd. (Synergy) in the city of Yunfu in China's Guangdong
Province. The purchase of MEAs announced today was made
pursuant to the MEA Long-Term Supply Agreement and Stack Assembly
License Agreement signed between Ballard and Synergy-Ballard JVCo
in 2019.
MEAs are a critical component of every cell in a fuel cell
stack, enabling the chemical process that generates electricity
from a combination of hydrogen and oxygen.
"Ballard's leading fuel cell technology is currently powering
over 650 Fuel Cell Electric Buses and more than 2,200 fuel cell
trucks in China, representing key
market share at this early stage of market development," said
Alfred Wong, Ballard Managing
Director – Asia Pacific. "This
follow-on order from the Synergy-Ballard joint venture is an
important indicator of the continued progress and market demand for
Ballard fuel cell technology in Heavy- and Medium-Duty Motive
applications in China, including
buses and commercial trucks. We expect to see high adoption of fuel
cell electric vehicles in China as
the national and provincial governments increasingly prioritize the
decarbonization of mobility with zero-emission solutions. Where
vehicle use cases require extended range and rapid refueling, we
believe Ballard fuel cell technology will offer a compelling value
proposition, including high reliability and durability along with
competitive total-cost-of-ownership."
About Ballard Power Systems
Ballard Power Systems'
(NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for
a sustainable planet. Ballard zero-emission PEM fuel cells are
enabling electrification of mobility, including buses, commercial
trucks, trains, marine vessels, passenger cars, forklift trucks and
UAVs. To learn more about Ballard, please visit
www.ballard.com.
This release contains forward-looking statements concerning
anticipated product performance and other characteristics, product
deliveries and deployments. These forward-looking statements
reflect Ballard's current expectations as contemplated under
section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Any such
forward-looking statements are based on Ballard's assumptions
relating to its financial forecasts and expectations regarding its
product development efforts, manufacturing capacity, and market
demand.
These statements involve risks and uncertainties that may cause
Ballard's actual results to be materially different, including
general economic and regulatory changes, detrimental reliance on
third parties, successfully achieving our business plans and
achieving and sustaining profitability. For a detailed discussion
of these and other risk factors that could affect Ballard's future
performance, please refer to Ballard's most recent Annual
Information Form. Readers should not place undue reliance on
Ballard's forward-looking statements and Ballard assumes no
obligation to update or release any revisions to these forward
looking statements, other than as required under applicable
legislation.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities. The Ballard Common
Shares have not been registered under the United States Securities
Act of 1933, as amended, or the securities laws of any other
jurisdiction and may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements.
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SOURCE Ballard Power Systems Inc.