VANCOUVER, Dec. 16, 2019 /PRNewswire/ - Ballard Power
Systems (NASDAQ: BLDP; TSX: BLDP) today announced receipt of a
purchase order from Weichai Ballard Hy-Energy Technologies Co.,
Ltd. ("Weichai-Ballard JV") for Membrane Electrode Assemblies
(MEAs) valued at $19.2 million, to be
delivered in 2020 under a long-term MEA supply agreement.
Weichai Power Co., Ltd. ("Weichai Power";
http://en.weichaipower.com/) is an investor in, and strategic
partner with, Ballard. Under terms of a strategic collaboration
between the companies that closed on November 13th, 2018, Weichai Power
holds a 51% ownership position and Ballard holds a 49% ownership
position in the Weichai-Ballard JV. The Weichai-Ballard JV
production facility, located in Shandong
Province, China, is
expected to be commissioned and operational in the first half of
2020.
Once operational, the Weichai-Ballard JV production facility
will begin the manufacture of next-generation LCS fuel cell stacks
and LCS-based modules to power Fuel Cell Electric Vehicles (FCEVs)
for the China market. The
Weichai-Ballard JV is expected to have initial production capacity
of 20,000 fuel cell stacks, or 10,000 modules, based on a two-shift
operation.
Randy MacEwen, Ballard President and CEO said, "We have a
simple shared vision with Weichai Power for our Weichai-Ballard JV
– to create the leading fuel cell stack and module technology and
manufacturing operation in China
for buses, commercial trucks and forklifts. We are making measured
progress on this vision. In 2019, together with Weichai, we staffed
up the JV, co-developed fuel cell products for the China market, substantially completed
construction of the JV manufacturing facility, progressed on our
manufacturing equipment, processes and automation, initiated
localization of the supply chain, and supported initial vehicle
testing."
The MEA purchase order announced today, together with a fully
operational fuel cell module factory, are expected to enable
large-scale manufacturing of fuel cell products by the
Weichai-Ballard JV in 2020.
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 deliveries and deployments of 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.