VANCOUVER, BC, Aug. 4, 2020 /CNW/ - Ballard Power Systems
(NASDAQ: BLDP) (TSX: BLDP) today announced that the Company's
proton exchange membrane (PEM) fuel cell technology and products
have now powered Fuel Cell Electric Vehicles – or FCEVs – in
commercial Heavy- and Medium-Duty Motive applications for an
industry-leading cumulative total of more than 50 million
kilometers on roads around the globe, an increase of over 5-times
since 2017.
Ballard PEM fuel cell technology and products – with the
8th generation power module launched in 2019 – have been
integrated for many years into FCEVs to provide zero-emission power
for vehicle propulsion in 15 countries around the world. This
includes approximately 1,000 Fuel Cell Electric Buses (FCEBs) and
2,200 commercial trucks. Approximately 70% of the more than 50
million kilometers has been achieved in FCEVs deployed in
China, with the remaining vehicles
deployed in Europe and
North America.
Randy MacEwen, Ballard President and CEO said, "This is a very
exciting milestone for Ballard and the fuel cell industry as we
continue to prove, every day, the readiness of our leading PEM fuel
cell technology for these demanding on-road applications. Buses and
commercial trucks powered by Ballard's hydrogen fuel cell
technology over an unparalleled 50 million kilometers have enabled
the development of fuel cell products with industry-leading
reliability, durability and performance. As a result, Ballard is
well-positioned to address Heavy- and Medium-Duty Motive
applications, including bus, truck, train and marine, just as the
global commitment to zero-emission transportation is accelerating.
To date, more than 66 countries have established net-zero carbon
targets in 2050 and more than 20 governments, representing over 70%
of global GDP, have announced hydrogen roadmaps. Increasingly,
policy is focused on decarbonizing heavy commercial vehicles that
disproportionately contribute to transport emissions and have been
difficult to abate – until now. The total addressable market for
engines in these vehicles exceeds $130
billion annually."
For the first half of 2020, FCEVs monitored by Ballard delivered
fuel cell uptime of approximately 98%. Ballard's unmatched field
experience – through a wide range of duty cycles, climate and road
conditions – has been leveraged through an effective feedback loop
into our product design and development efforts, resulting in the
fuel cell industry's highest performance products designed for
Heavy- and Medium-Duty Motive applications. Some of the FCEBs that
operated over 8-years in the field exceeded 38,000 hours of revenue
service with no major fuel cell maintenance requirements.
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 market developments and demand for 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.