BROOKLYN, N.Y. and VANCOUVER, BC, Dec. 8, 2022
/CNW/ - Amogy Inc., a pioneer of emission-free, energy-dense
ammonia power solutions, announced the signing of a contract to
purchase fuel cell engines from Ballard Power Systems (NASDAQ:
BLDP) (TSX: BLDP) a leading global provider of zero-emission fuel
cell technology, for ammonia-to-power maritime applications.
Ballard's FCwaveTM engine is a scalable fuel cell
system certified for operation in marine environments. Amogy's
proprietary ammonia-to-power platform relies on unique ammonia
cracking technology, facilitating the extraction of hydrogen
onboard for fuel in a hydrogen engine. Amogy's platform was
successfully demonstrated in several industrial applications. The
Amogy team is currently scaling the technology for use in maritime
vessels, with plans for a tank barge and tugboat operations.
Under this contract, Amogy agrees to purchase an initial order
of three, 200kW FCwaveTM engines and Ballard will
support integration of the fuel cell engines with Amogy's
proprietary ammonia reforming system. Ballard will deliver the
initial FCwave engines to Amogy in 2023 for maritime deployment. A
follow-on order for an additional seven FCwaveTM engines
is expected upon successful completion of the initial projects
"This contract and collaboration opportunity with Ballard is a
significant and valuable step as Amogy expands its efforts in the
maritime sector," said Seonghoon
Woo, Chief Executive Officer at Amogy. "With access to their
leading fuel cell technology and team of experts, together we can
expedite commercialization of scalable,
ammonia-to-power solutions for the maritime industry and support
global sustainability goals."
The International Maritime Organization has adopted ambitious
emissions-reduction targets, including a goal to reduce the
greenhouse gas emissions of global fleets 40% by 2030 and pursue
efforts towards 70% by 2050, compared to 2008 levels. To achieve
these goals, commercially viable zero-emissions vessels must begin
entering global fleets. With many promising maritime applications
for hydrogen fuel involving ammonia as a carrier of hydrogen,
partnerships like the one between Amogy and Ballard have tremendous
potential to demonstrate ammonia power platforms in real-world
maritime use-cases.
"We are excited for the opportunity to work with Amogy and bring
our clean and innovative technologies together. We believe Amogy's
onboard capabilities to convert ammonia to gaseous hydrogen
combined with our fuel cell engines will be a major milestone to
achieve decarbonization in the marine sector," said Søren
Østergaard Hansen, General Manager, Marine and Stationary, Ballard
Power Systems Europe A/S.
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 Amogy
Amogy offers ammonia-based, emission-free, high energy-density
power solutions to decarbonize transportation for a sustainable
future. Founded in 2020, Amogy aims to enable the decarbonization
of the heavy-duty transportation sector, accelerating the global
journey towards Net Zero 2050. The company's investors include
Amazon's Climate Pledge Fund, AP Ventures, SK, Saudi Aramcoand
DCVC. To date, Amogy's scalable ammonia-powered, zero-emissions
energy system has been demonstrated with success in several
industrial mobilities. More info at: www.amogy.co.
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SOURCE Ballard Power Systems Inc.