- Initial 600 fuel cell electric bus deployment planned in
Europe
- Supported by €40M in CEF funding
VANCOUVER, June 3, 2019 /CNW/ - Ballard Power Systems
(NASDAQ: BLDP; TSX: BLDP) today announced that it is a founding
member of the new H2Bus Consortium, whose members are
working together to deploy 1,000 zero-emission fuel cell electric
buses (FCEBs) and related infrastructure in European cities at
commercially competitive rates.
An initial 600 FCEBs are being supported by a €40 million grant
from the EU's Connecting European Facilities
(CEF1) program, with 200 buses to be deployed in
each of Denmark, Latvia and the U.K. by 2023.
In addition to Ballard, H2Bus Consortium members include
Everfuel, Wrightbus, Hexagon Composites, Nel Hydrogen, and Ryse
Hydrogen, all leading players in the hydrogen fuel cell electric
bus value chain. The H2Bus hydrogen fuel cell electric bus solution
is expected to be the most cost effective true zero-emission option
available, with a target single-decker bus price below €375,000,
hydrogen cost between €5 and €7 per kilogram and bus service cost
of €0.30 per kilometer. The zero-tailpipe emission feature of the
FCEBs' operation will be complemented by zero-emission hydrogen
production from renewable energy sources, yielding a
"well-to-wheels" emission-free transportation solution.
Randy MacEwen, Ballard President and CEO said, "The H2Bus
consortium is a very exciting development in the deployment of
zero-emission fuel cell electric buses across Europe. Together with the JIVE funding
program, which targets the deployment of 291 FCEBs, we can expect
to see approximately 1,300 European fuel cell transit buses in
operation in the foreseeable future. Consortium members intend to
provide the most affordable zero-emission bus and hydrogen fuelling
solution in order to meet the increasing demand for clean public
transportation in Europe's largest
cities."
Wrightbus will integrate Ballard's 8th-generation
heavy duty power module – called FCmove™ – into H2Bus Consortium
buses. FCmove™ products will be officially launched at the UITP
Global Public Transport Summit, taking place June 9-12 in Stockholm,
Sweden. FCmove™ products will deliver the performance and
reduced total lifecycle cost required to meet the ambitious targets
of the H2Bus Consortium and deliver an attractive economic value
proposition to bus operators.
About H2Bus
H2Bus is a consortium formed by the members Everfuel, Wrightbus,
Ballard Power Systems, Hexagon Composites, Nel Hydrogen and Ryse
Hydrogen, all leading players in the hydrogen fuel cell electric
value chain. The consortium's purpose is to provide the most
affordable true zero-emission solution to the European public
transport sector. The H2Bus Consortium press release can be found
here.
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1 CEF
supports the development of high performing, sustainable and
efficiently interconnected trans-European networks in the fields of
transport, energy and digital services.
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About Ballard Power Systems
Ballard Power Systems'
(NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for
a sustainable planet. The Company builds fuel cell 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
anticipated development activities, vehicle deployments and impacts
on 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.