VANCOUVER, BC and BOLECHOWO, Poland, April 1,
2024 /PRNewswire/ - Ballard Power Systems (NASDAQ:
BLDP) (TSX: BLDP) today announced the signing of a Long Term Supply
Agreement ("LTSA") with its customer Solaris
Bus & Coach sp. z o.o. ("Solaris";
www.solarisbus.com), a leading European bus manufacturer, for the
supply of 1,000 hydrogen fuel cell engines through 2027 for the
European transit bus market.
The LTSA consolidates existing orders for approximately 300 fuel
cell engines, while adding after-market and extended warranty
services to such existing orders, with a new supply commitment for
an incremental approximately 700 fuel cell engines and related
after-market extended warranty services. This consolidated order
represents the largest order of fuel cell engines in Ballard's
history and marks a significant step forward in the relationship
with Solaris. The 1,000 units will be made up of approximately
80% FCmove®-HD 70 kW and 20% FCmove®-HD+ 100
kW engines to address both the 12-metre and 18-metre bus markets,
with delivery starting in 2024 and running through the end of
2027.
These engines are expected to be deployed in buses across
Europe where Solaris buses powered
by Ballard fuel cell engines currently operate in over 22 European
cities. Supported by policy tailwinds and regulations to
decarbonize public urban transport fleets, the transition to zero
emission city buses has accelerated in recent years as the value
proposition of hydrogen fuel cells are increasingly
understood – zero emissions, quick refueling, and
long range, without impact to performance or duty cycle.
"This landmark agreement embarks on the next phase of Ballard
and Solaris' partnership to accelerate fuel cell bus adoption in
Europe, leveraging Ballard's
proven product performance, as the energy transition gains
momentum," said Randy MacEwen,
Ballard President and Chief
Executive Officer. "This LTSA is a testament to our collaborative
efforts with Solaris spanning over a decade in bringing safe,
competitive, durable, zero emission solutions to transit operators
across Europe. We are on the road
to achieving scaled deployment of fuel cell buses, which is a
critical lever to facilitate economies of scale and cost down
initiatives, driving improved economics and reduced emissions for
fleet operators."
"We are excited to continue our work with Ballard and further
our progress in the rapidly growing European hydrogen fuel cell bus
market as fuel cell vehicles become an increasingly significant
share of our production mix. Solaris has become a leader in
deploying hydrogen technology in public transport and an
experienced partner for European operators. To date, we have
delivered nearly 200 hydrogen-powered buses and another over 500
units are in our orderbook for next two years," said Javier Iriarte, Solaris Chief Executive
Officer.
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 deliveries, customer deployments, and market
adoption. 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.
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SOURCE Ballard Power Systems Inc.
