VANCOUVER and KONINGSHOOIKT,
Belgium, May 1, 2018 /PRNewswire/ - Ballard Power Systems
(NASDAQ: BLDP; TSX: BLDP) today announced it has received a
purchase order from Van Hool NV ("Van Hool";
https://www.vanhool.be/en/), a bus OEM partner in Belgium, for 40 FCveloCity®-HD fuel
cell modules to power buses under the Joint Initiative for
hydrogen Vehicles across Europe ("JIVE") funding programs. The
purchase order is further to Ballard's announcement of a Letter of
Intent, which was issued on February 28,
2018.
Ballard expects to make initial shipments of the
FCveloCity®-HD 85 kilowatt modules later in 2018, with
initial deliveries of buses expected in 2019. Van Hool plans to deploy 30 buses with the
Regionalverkehr Köln GmbH transit agency in Cologne, Germany, and the remaining 10 buses
with WSW mobil GmbH transit agency in Wuppertal, Germany.
"This is the largest order ever for fuel cell buses in
Europe and will be the first
deployments under the JIVE I program," said Rob Campbell, Ballard Chief Commercial Officer.
"Transit buses are an excellent example of a strong fit for fuel
cell technology, which is able to meet the key requirements of long
range, rapid refueling, heavy payload and full route flexibility.
We are excited to see the growing interest in Europe for the use of our zero-emission power
products."
Europe's JIVE funding programs
are intended to pave the way to commercialization of fuel cell
electric buses by coordinating procurement activities to unlock
economies-of-scale and reduce costs as well as supporting new
hydrogen refueling stations. The JIVE I program targets deployment
of 139 fuel cell buses in 9 locations and the JIVE II program
targets a further deployment of 152 buses in 14 locations – for a
total of 291 fuel cell buses to be deployed in European
cities.
Results of the JIVE programs are expected to demonstrate the
technical readiness of fuel cell buses to bus operators and the
economic viability of hydrogen as a zero-emission bus fuel to
policy makers. These programs are supported by a total of €57
million in grants from the Fuel Cells and Hydrogen Joint
Undertaking (FCH JU).
About Ballard Power Systems
Ballard Power Systems
(NASDAQ: BLDP; TSX: BLDP) provides clean energy products that
reduce customer costs and risks, and helps customers solve
difficult technical and business challenges in their fuel cell
programs. To learn more about Ballard, please visit
www.ballard.com.
This release contains forward-looking statements concerning
anticipated deliveries and deployments of our products. 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.