VANCOUVER and HOBRO,
Denmark, April 9, 2019 /CNW/ - Ballard Power Systems
Europe A/S – a subsidiary of Ballard Power Systems, Inc. (NASDAQ:
BLDP; TSX: BLDP) – today announced that it has signed an Equipment
Supply Agreement (ESA) with Norled A/S (Norled; www.norled.no/en),
one of Norway's largest ferry and
express boat operators, to provide two of the Company's
next-generation 200 kilowatt (kW) modules that will be used to
power a hybrid ferry planned to begin operating in 2021. The
Ballard modules will be designed and manufactured at the Company's
new Marine Center of Excellence at its facility in Hobro,
Denmark.
The Norled vessel – which has carrying capacity for up to 299
passengers and 80 cars – is expected to be the first liquid
hydrogen fuel cell-powered ferry in commercial operation
globally.
The Administration Director of Norwegian Public Roads,
Terje Moe Gustavsen said, "Hydrogen
will be the last piece in order to get zero-emissions in the ferry
sector. Hydrogen is the solution where electric operation alone is
not possible."
Ingvald Løyning, Norled's Chairman added, "On behalf of
Norled, I am both proud and humble to be a part of this pioneer
project. This represents a green historical turning point for
both Norled and the rest of the maritime sector."
Jesper Themsen, President and CEO of Ballard Power Systems
Europe A/S noted, "Norway's
government has demonstrated leadership by enforcing the phasing in
of low and zero-emission solutions in its marine industry by 2030,
including the introduction of requirements for zero-emission
tourist ships and ferries in its world heritage fjords by no later
than 2026. For many of the 100 high speed ferries operating on
routes in Norway, however, battery
powered propulsion is not practical due to the associated weight
and long recharging time required. Therefore, we believe hydrogen
fuel cell systems offer ferry operators a viable zero-emission
propulsion pathway."
Ballard zero-emission fuel cell modules offer a compelling value
proposition: (i) design flexibility, including modular components
and scalable power (from 100kW to over 1 megawatt) to support
vessel propulsion, auxiliary power and/or system redundancy; (ii)
extended range, proportionate to the volume of energy-rich liquid
hydrogen fuel stored on board a vessel (which can also be rapidly
replenished), rather than creating a weight challenge through the
addition of heavy batteries; and (iii) positive economics,
underpinned by the compatibility of fuel cell DC power with battery
hybrid electric architectures.
Norled operates 80 ferries and express boats and has invested
significantly in new types of vessels and eco-friendly
technologies. Norled employs more than 1,000 people, has its head
office in Stavanger and branch offices in Bergen and Oslo. Norled is a wholly-owned subsidiary of
Det Stavangerske Dampskibesselskab A/S (DSD), which also owns Tide
A/S, a Norwegian public transport company focused on buses and
other fast passenger craft.
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 challenges or address new business
opportunities. 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.