VANCOUVER, BC and BORDEAUX,
France, Oct. 7, 2021
/PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP)
today announced that its partner, Hydrogene de France ("HDF Energy"; EURONEXT: HDF;
www.hdf-energy.com), an Independent Power Producer dedicated to
renewable power generation, commenced construction of the CEOG
Renewstable® Power Plant ("CEOG") in French Guiana. CEOG is the world's first
multi-megawatt, baseload hydrogen power plant, and the largest
green hydrogen storage of intermittent renewable electricity
sources. Also, CEOG is the first order for a new generation of
megawatt power fuel cell systems dedicated to stationary
applications, which will be mass produced in the HDF facility in
Bordeaux.
This project is part of a multi-staged development agreement
between Ballard and HDF, as initially announced in December 2019 by Ballard. CEOG is the first
commercial project for HDF under this agreement. This is an
important proof point for the use of hydrogen storage and
electrical regeneration combined with renewable energy. The
$200 million French Guiana CEOG
project will combine a solar park, long-term hydrogen and
short-term battery storage and fuel cells specified by HDF, based
on Ballard's ClearGen® architecture.
The Renewstable® power plant, designed and developed
by HDF, will supply a 100% renewable, stable and dispatchable power
to the equivalent of 10,000 households at a lower cost than a
diesel power plant, but without emitting any greenhouse gas, fine
particle emissions, noise or fumes.
"CEOG demonstrates that HDF Renewstable® solution
addresses a very large market, being all grids that are currently
powered by fossil fuel power plants," said Damien Havard, CEO of HDF Energy. "By supplying
non-intermittent renewable energy, CEOG – which we are working to
replicate across the world – opens a new era for renewable
energies."
Rob Campbell, Ballard's Chief
Commercial Officer, said, "Ballard's leading Proton Exchange
Membrane fuel cell technology is well-suited for utility power
systems such as this, which require proven reliability,
dependability and operating performance in heavy-duty
applications." Mr. Campbell continued, "Our stacks are expected to
offer cost effective scaling of energy storage and electricity
regeneration, are optimal for daily cycling of operations, and are
completely zero emissions in this case due to the use of upstream
renewable energy."
HDF and Ballard anticipates the two 1.5 MW fuel cell systems, to
be delivered by mid-2023. The systems will utilize Ballard's core
FCgen®-LCS stack technology.
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 and forklift trucks.
To learn more about Ballard, please visit www.ballard.com.
Forward-looking statements
This release contains
forward-looking statements concerning the development and delivery
of fuel cell products, and the benefits and anticipated market
adoption of them. 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 statements
are based on Ballard's assumptions relating to its financial
forecasts and expectations regarding its product development
efforts, manufacturing capacity, and market demand. For a detailed
discussion of the factors and assumptions that these statements are
based upon, and factors that could cause our actual results or
outcomes to differ materially, please refer to Ballard's most
recent management discussion & analysis. Other risks and
uncertainties that may cause Ballard's actual results to be
materially different include 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. These
forward-looking statements are provided to enable external
stakeholders to understand Ballard's expectations as at the date of
this release and may not be appropriate for other purposes. Readers
should not place undue reliance on these statements and Ballard
assumes no obligation to update or release any revisions to them,
other than as required under applicable legislation.
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SOURCE Ballard Power Systems Inc.