VANCOUVER, BC and STUTTGART, Germany, Sept. 28, 2020 /CNW/ - Ballard Power Systems
(NASDAQ: BLDP) (TSX: BLDP) today announced an agreement to
collaborate with MAHLE, a leading international development partner
and Tier 1 supplier to the commercial vehicle and automotive
industry, on the development and commercialization of zero-emission
fuel cell systems to provide primary propulsion power in various
classes of commercial trucks.
Founded in Germany in 1920 and
celebrating its 100-year anniversary, today the MAHLE Group employs
approximately 77,000 people working at 160 production locations and
16 research and development centers around the globe and generates
annual sales of approximately €12 billion (numbers referring to the
business year 2019). MAHLE's commercial vehicle division supplies a
broad range of products to truck and other OEMs, including power
cells, valves and camshafts, engine cooling components, fuel and
oil management systems, electronics and mechatronics. MAHLE
components are present in half of all the vehicles on the world's
roads.
MAHLE has been a series supplier for fuel cell vehicles for over
a decade. The technology group holds a particularly strong position
in the complex air intake system and in the temperature control of
fuel cell systems, as well as air filter solutions for fuel cells.
MAHLE has brought together its fuel cell activities in a project
house, where one area of focus is the development of components for
fuel cell systems in commercial vehicles.
Dr. Jörg Stratmann, Chairman and CEO of MAHLE said,
"Hydrogen and fuel cells are a cornerstone of
CO2-neutral mobility, particularly with regard to road
transport. This collaboration brings together MAHLE's strength in
the automotive Tier 1 value chain and our vast expertise in the
fuel cell periphery with Ballard's industry leadership in PEM fuel
cell technology and systems."
Randy MacEwen, Ballard CEO noted,
"We are excited to be working with MAHLE, a global leader in
automotive product supply, service and support. Together with
Ballard's experience powering vehicles for over 50 million
kilometers, our unparalleled proven product durability, and our
intellectual property and know-how around high-power density fuel
cell stacks, we are very confident in our ability to effectively
address the $100 billion annual total
addressable market for commercial truck engines. With our shared
vision on the role of fuel cell technology to decarbonize
heavy-duty trucks and our complementary capabilities, we expect
this collaboration with MAHLE to result in development and
commercialization of winning fuel cell engines for customers in the
truck engine market in Europe and
beyond, at a time where policies are mandating zero-emission
powertrain solutions."
During the initial development phase, Ballard has prime
responsibility for system design and the fuel cell stack
sub-system, while MAHLE's scope of responsibility includes
balance-of-plant components, thermal management and power
electronics for the complete fuel cell system, or engine, as well
as system assembly. MAHLE brings a number of key attributes to the
collaboration, including:
- Extensive experience within the commercial truck value
chain;
- Vast expertise in the field of peripheral fuel cell
components;
- Supply chain muscle;
- High-volume production expertise;
- Long-standing relationships with multiple commercial truck, and
other, OEMs;
- After-sales service infrastructure; and
- A highly respected global brand.
The collaboration is subject to completion of definitive
documents.
About MAHLE
MAHLE is a leading international
development partner and supplier to the automotive industry. The
technology group is committed to playing an active role in
transforming the mobility of the future by further optimizing the
combustion engine, driving forward the use of alternative fuels,
and laying the foundation for the worldwide introduction of
e-mobility and other alternative drives, such as fuel cells. The
group's product portfolio addresses all the crucial aspects of the
powertrain and air conditioning technology.
In 2019, MAHLE generated sales of approximately
EUR 12.0 billion and is represented in over 30 countries
with more than 77,000 employees in 160 production locations
and 16 major research and development centers. (31.12.2019)
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 the
anticipated outcome of the collaboration, including product
performance and addressable markets. 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.
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SOURCE Ballard Power Systems Inc.