VANCOUVER and AMSTERDAM, June 27,
2018 /CNW/ - Ballard Power Systems (NASDAQ: BLDP; TSX:
BLDP) today announced signing of a Memorandum of Understanding
(MOU) with ABB (www.abb.com/marine) to undertake collaboration
activities toward the development of megawatt (MW) scale proton
exchange membrane (PEM) fuel cell power systems for the marine
market, with an initial focus on the cruise ship segment.
ABB also announced the MOU today at the Electric & Hybrid
Marine World Expo 2018, being held in Amsterdam, The Netherlands
(http://www.electricandhybridmarineworldexpo.com/en/).
Rob Campbell, Ballard's Chief
Commercial Officer said, "This MOU is a significant next step in
our ongoing relationship with ABB, the innovative market leader in
marine solutions. The rapidly evolving marine market represents an
exciting growth opportunity for zero-emission fuel cell technology.
And, Ballard's prior development and deployment of megawatt-scale
containerized PEM fuel cell systems for land-based use gives us the
critical experience and knowledge to collaborate effectively on the
development of clean energy solutions for key marine market
applications."
"Hydrogen fuel cells are at the forefront of zero-emission
technologies for shipping," said Juha
Koskela, Managing Director, ABB Marine & Ports. "We look
forward to working with Ballard Power Systems on the
next-generation fuel cell technology, in line with our commitment
to equip the marine industry with electric, digital and connected
solutions that maximize the full potential of vessels and enable a
safe, efficient and sustainable maritime industry."
Reduction of pollutants and carbon emissions is a high-priority
for the marine industry. Regulations to restrict diesel emissions
are being introduced at the local and regional levels in various
parts of the world, and this is generating interest in
zero-emission fuel cell technology. Limiting greenhouse gas (GHG)
emissions through the use of hydrogen fuel cells is of particular
interest in port cities, where significant multi-mode
transportation opportunities exist to share centralized hydrogen
fueling infrastructure. This includes the presence of marine
vessels, drayage trucks, trains, forklift trucks, and other
transport vehicles at a single port facility.
In addition, earlier this year the United Nations International
Maritime Organization (IMO) announced a strategy to reduce GHG
emissions from ships – including a 50% reduction in GHGs by 2050,
compared to 2008 levels, and complete elimination of GHG's as soon
as possible in this century.
The multi-year collaboration between Ballard and ABB will
include joint market development activities, systems design and
development work, as well as systems testing and validation
activities. The goal will be development of commercial ready
MW-scale containerized PEM fuel cell power systems for the marine
market, with an initial focus on the cruise ship segment. These
systems could be used in a variety of ways, including provision of
power for hotel operations while cruise ships are docked at port as
well as the provision of primary propulsion power when ships are at
sea.
To the shipping industry, ABB offers an extensive portfolio of
integrated marine systems and solutions that improve flexibility,
reliability and energy efficiency of vessels.
About ABB
ABB (ABBN: SIX Swiss Ex) is a
pioneering technology leader in electrification products, robotics
and motion, industrial automation and power grids, serving
customers in utilities, industry and transport & infrastructure
globally. Continuing a history of innovation spanning more than 130
years, ABB today is writing the future of industrial digitalization
with two clear value propositions: bringing electricity from any
power plant to any plug and automating industries from natural
resources to finished products. As title partner of Formula E, the
fully electric international FIA motorsport class, ABB is pushing
the boundaries of e-mobility to contribute to a sustainable future.
ABB operates in more than 100 countries with about 135,000
employees. www.abb.com
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
planned product deployments, provision of services, market adoption
and demand for our products and available subsidies. 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.