VANCOUVER, and BORDEAUX,
France, Dec. 10, 2019
/PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP)
today announced that it has signed a Product Development Agreement
with Hydrogene de France ("HDF
Energy"; www.hdf-energy.com), an Independent Power Producer
dedicated to renewable power generation, for the development and
integration of a multi-megawatt (MW) scale fuel cell system into
HDF Energy's Renewstable® power plant designed for
stationary power applications.
HDF Energy's Renewstable® power plant is a
multi-MW baseload system enabling large-scale storage of
intermittent renewable wind or solar energy in the form of hydrogen
– through the process of electrolysis – as well as electricity
generation using that hydrogen feedstock together with a fuel cell
system. This power plant can produce zero-emission power on a 24/7
basis from intermittent renewable energy, in order to support
electrical grids.
Rob Campbell, Ballard's Chief
Commercial Officer said, "For years, indeed decades, industry has
imagined using hydrogen as an energy carrier that matches variable
output from renewable power generation, such as solar photovoltaics
and wind, with grid power demand. Our collaboration with HDF Energy
presents a compelling opportunity to realize this vision. We
believe hydrogen will play a key role in the emerging clean energy
transition, as governments and industry increasingly look for
solutions to decarbonize energy, mobility, and industry, while
firming grids with increasing penetration of variable renewables.
Indeed, hydrogen offers high value energy storage that enables
these sector couplings."
Mr. Campbell continued, "This Development Agreement and
collaboration is reflective of the expected market interest in a
solution where HDF Energy combines its experience and capabilities
as an Independent Power Producer focused on renewable power
generation, together with Ballard's leading technology in heavy
duty Proton Exchange Membrane, or PEM, fuel cells and experience in
the design and integration of megawatt-scale stationary PEM
systems. The integrated architecture of
renewables-electrolysis-hydrogen storage fuel cell systems can
deliver reduced energy costs, improved grid stability and
resiliency, increased penetration of renewables and greater energy
independence. We also envision HDF's
Renewstable® power plant being used to store green
hydrogen for use in other applications, such as zero-emission fuel
for Fuel Cell Electric Vehicles."
Kevin Colbow, Ballard Chief
Technology Officer added, "Under the Development Agreement, we are
planning for two phases of work. The first phase involves the
design, build and supply of two next-generation MW-scale
containerized stationary PEM fuel cell systems totaling
3-megawatts, based on our new high-durability LCS fuel cell stack.
Second, after HDF Energy incorporates these systems into their
Renewstable® power plant in an initial project, we
plan to proceed with a technology transfer program to enable HDF
Energy to assemble these fuel cell systems for global market sales
of their Renewstable® power plants."
In the initial HDF Energy project an installation is planned in
French Guiana, an overseas region
of France located off the northern
Atlantic coast of South America,
under the Centrale Electricité de l'Ouest Guyanais (CEOG) project.
The project will involve 90MWh of energy storage from hydrogen,
representing a first for the fuel cell industry.
Damien Havard, CEO of HDF Energy
noted, "We are excited to continue our partnership with Ballard, a
leading designer of reliable PEM fuel cell systems. We believe our
expanded collaboration will establish a new reference for multi-MW
power-to-power applications. This alliance strengthens
Renewstable® power plants' position as a reliable
and competitive alternative to fossil fuel power plants."
Subject to certain conditions, the collaboration contemplates a
future technology transfer of Ballard's new MW-scale containerized
PEM fuel cell system to HDF Energy with an exclusive
royalty-bearing, non-transferable, multi-year global license for
the manufacture and sale of MW-scale fuel cell systems for
Renewstable® power plant systems. The collaboration
also contemplates Ballard supplying LCS fuel cell stacks for these
systems based on an exclusive long-term supply agreement. HDF
Energy is planning to establish a manufacturing facility in
Bordeaux, France.
The transaction announced today is subject to completion of
definitive agreements and is reliant in part on the CEOG project,
which is subject to customary conditions for multi-year programs of
this scope, including but not limited to permitting and regulatory
approvals, financings and project execution activities.
About HDF Energy
HDF Energy is the creator of the
Renewstable® electricity plant concept. Specialized in
hydrogen-based technologies, HDF Energy develops, finances, builds
and operates industrial energy infrastructures, high power fuel
cells (more than 1MW), and mass storage units connected to an
electrical grid. Multi-megawatt Renewstable® electricity
plants generate clean, non-intermittent electricity 24/7. To learn
more about HDF Energy, please visit www.hdf-energy.com.
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 product performance and other characteristics, product
deliveries and deployments. 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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/ballard-and-hdf-energy-sign-development-agreement-for-multi-megawatt-fuel-cell-systems-300971802.html
SOURCE Ballard Power Systems Inc.