VANCOUVER and AUGSBURG, Germany, Sept. 19,
2022 /PRNewswire/ - Ballard Power Systems (NASDAQ:
BLDP) (TSX: BLDP) today announced a minority equity investment in
Quantron AG, a global electric vehicle integrator and an emerging
specialty OEM, to accelerate fuel cell truck adoption. As part of
Quantron's financing round of up to 50
million euros, Ballard's investment proceeds will be used by
Quantron to develop their truck fuel cell vehicle platforms, under
the terms of a Joint Development Agreement. Ballard will be the
exclusive fuel cell supplier to Quantron for these platforms.
As part of the strategic partnership, Quantron committed to
purchase 140 FCmoveTM modules totaling approximately
17MW, with an option to purchase an additional 50 units. The fuel
cell modules are expected to be delivered in 2023 and 2024.
The zero-emission fuel cell electric vehicle platforms developed
by Quantron will integrate Ballard fuel cell products for various
truck applications in Europe and
the US. Quantron's initial market focus is Germany, where their new 44T fuel cell truck
is to be unveiled at IAA Transportation 2022.
"We are seeing growing global demand and policy support for zero
emission transport as companies strive to reach decarbonization
targets. This collaboration accelerates our entry into the European
truck market and aims to have Quantron's initial hydrogen-powered,
zero emission trucks on the road in the next 18 months," said
Randy MacEwen, CEO, Ballard Power
Systems.
"Quantron is thrilled to advance our strategic partnership with
Ballard. We see compelling mobility use cases where fuel cell
engines are the most suitable zero emission solution, given the
power and range requirements of the application," commented
Andreas Haller, founder, and
Chairman of Quantron AG.
Michael Perschke, CEO of Quantron
AG added, "We want to offer our customers the best solution
possible, and our continued collaboration with Ballard allows us to
advance our environmentally friendly offerings to meet our
customers' needs, including range, payload, and refueling time,
with an increasingly competitive total cost of ownership."
Pursuant to its strategic investment, Ballard will have the
right to appoint a representative to Quantron's Board of
Directors.
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, and stationary power. 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.
About Quantron AG
Quantron AG is a system provider of sustainable battery and
hydrogen-electric mobility for commercial vehicles such as trucks,
buses and transporters. As a high-tech spinoff of Haller KG, the
Augsburg-based company combines over 140 years of commercial
vehicle experience with state-of-the-art e-mobility know-how. The
Quantron-as-a-Service (QaaS) ecosystem includes: QUANTRON INSIDE
(wide range of zero-emission new vehicles and conversions for
existing and used vehicles to alternative powertrains as well as
batteries and integrated customized electrification concepts),
QUANTRON CUSTOMER CARE (Europe-wide network of 700 service partners,
digital and physical aftersales solutions, individual customer
advice, QUANTRON Academy training courses), QUANTRON ENERGY
(platform for the production of green hydrogen and electricity) and
QUANTRON POWER STATION (supplying vehicles with the necessary green
charging and H2 tank infrastructure as part of the Hydrogen
Alliance). For more information, visit www.quantron.net and social
media channels on LinkedIn and YouTube.
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SOURCE Ballard Power Systems Inc.