Silicon Investor - Ballard Power -world leader zero-emission PEM fuel cells

[kidl] Ballard Fuel Cells to Power Expansion of Canadian Pacific Hydrogen Locomotive Pr...

kidl — 1/19/2022 8:48:06 AM

Ballard Fuel Cells to Power Expansion of Canadian Pacific Hydrogen Locomotive Program PR Newswire

VANCOUVER, BC, Jan. 19, 2022

VANCOUVER, BC, Jan. 19, 2022 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) announced today it received an order for eight additional 200 kW fuel cell modules to support the expansion of Canadian Pacific's "CP"; (TSX: CP) (NYSE: CP) Hydrogen Locomotive Program from one to three locomotives, with expected delivery in 2022. Inclusive of Ballard's announcement in March 2021, the company will provide a total of 14 fuel cell modules, each module with a rated power output of 200 kW, to support this program.

CP, an industry leader in the North American rail sector, significantly expanded its Hydrogen Locomotive Program, from one to three hydrogen locomotives. This expansion is partially supported by C$15 million in funding from Emissions Reduction Alberta (ERA) as part of its Shovel-Ready Challenge announced late last year. The CP program was selected as one of sixteen emissions reduction projects to receive provincial funding. CP intends to refine the process of converting diesel-electric powertrains to hydrogen-electric powertrains over a series of three categories of locomotives which collectively represent the majority of locomotives in use throughout North America.

"In expanding this groundbreaking project, CP is demonstrating its commitment to combatting climate change through transformative technology," said Keith Creel, CP's President and Chief Executive Officer. "I am very pleased that Emissions Reduction Alberta selected this program for a grant and I eagerly anticipate seeing a hydrogen-powered locomotive move CP customer freight in the near future."

"We are excited to deepen our collaboration with CP and accelerate the energy transition," said Randy MacEwen, Ballard's President & CEO. "The expansion of CP's Hydrogen Locomotive Program is illustrative of the confidence in Ballard's fuel cell technology and the important role hydrogen fuel cells will play in decarbonizing heavy-duty motive applications, such as freight locomotives."

"Alberta is investing to lead the transition to affordable, reliable and clean energy. CP's initiative represents a highly compelling opportunity to catalyze the hydrogen economy in Alberta and around the world," said Steve MacDonald, CEO of ERA. "The project will help scale up technology and bring down the costs of deploying hydrogen to address the critical challenge of decarbonizing the long haul, heavy-freight sector."

[kidl] Globe says Ballard Power Systems kept "outperform" Ballard Power Systems Inc ...

kidl — 1/14/2022 8:35:49 AM

Globe says Ballard Power Systems kept "outperform"

Ballard Power Systems Inc (C:BLDP)
Shares Issued 297,687,956
Last Close 1/12/2022 $14.06
Wednesday January 12 2022 - In the News

The Globe and Mail reports in its Wednesday, Jan. 12, edition that National Bank Financial analyst Rupert Merer thinks the shift toward green energy is "unstoppable" and sees "room for upside" in 2022, expecting an improved performance with stocks sitting at 52-week lows. The Globe's David Leeder writes in the Eye On Equities column that accordingly, Mr. Merer continues to rate Ballard Power Systems "outperform." However, he trimmed his share target to $20 (U.S.) from $26 (U.S.). Analysts on average target the shares at $22.24 (U.S.). Mr. Merer says in a note: "With a cash balance of approximately $1.2-billion, Ballard has a strong balance sheet that can be used to advance product development or M&A transactions in 2022. With the growth in the EV markets, we believe that Ballard should also see further partnership development and follow-on orders. We will look for progress towards its 70-per-cent cost reduction target by 2024E, in support of a larger roll-out of hydrogen vehicle platforms in that year. Ballard is active in development with partners MAHLE and Linamar, among others, which could provide some development catalysts in 2022E."

© 2022 Canjex Publishing Ltd.

[gg cox] Woof, woof,, :+)

gg cox — 1/13/2022 10:29:15 AM

[kidl] Ballard announces orders for 31 fuel cell engines to a leading global constructi...

kidl — 1/13/2022 8:50:41 AM

Ballard announces orders for 31 fuel cell engines to a leading global construction, electric power & off-road equipment manufacturer PR Newswire

VANCOUVER, BC, Jan. 13, 2022

VANCOUVER, BC, Jan. 13, 2022 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) is pleased to announce orders for 31 modules, totaling 3 MW of hydrogen fuel cell power, to a leading global construction, electric power, and off-road equipment manufacturer for testing and deployment in a variety of end-use applications. The modules are expected to be delivered in 2022 and 2023 to match planned integration, testing, and deployment schedules.

"We are thrilled to be partnering with this important strategic account where we are able to offer Ballard's portfolio of leading fuel cell engines across a variety of off-road and stationary power applications," stated Randy MacEwen, Ballard's President & CEO. "We see significant leverage in our business model where we use the same core competencies, the same core fuel cell technology, and, in some cases, the same fuel cell engines across different business verticals and geographic markets."

The orders include the supply of Ballard's new FCmove™-HD+ engines, marking an important commercial milestone for Ballard's latest fuel cell engine which was launched late last year. The FCmove™-HD+ is more compact and efficient than previous generations, with an expected lower total cost of ownership, making it a competitive, zero-emission solution for broad reaching medium and heavy-duty applications.

Mr. MacEwen continued, "Our latest FCmove™-HD+ demonstrates a significant improvement in our technology and highlights the pace at which our fuel cells are advancing and supporting the market need for zero-emission solutions. We are excited with increased customer and end-user engagement to decarbonize heavy-duty off-road mobility applications, such as mining equipment, as well as stationary power applications, such as critical back-up for data centers. We are well positioned to support decarbonization of various hard-to-abate applications."

[kidl] Ballard announces orders for 40 fuel cell modules in European market PR Newsw...

kidl — 11/4/2021 9:08:37 AM

Ballard announces orders for 40 fuel cell modules in European market

PR Newswire

VANCOUVER, BC, Nov. 4, 2021

VANCOUVER, BC, Nov. 4, 2021 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced orders for a total of 40 FCmoveTM-HD (70kW) modules for planned deployment in hydrogen fuel cell electric buses ("FCEB") across Europe in 2022.

These FCEBs are being deployed in France, Germany, and the UK.

Rouen, France is deploying their first fleet of zero-emission FCEBs powered by Ballard fuel cell technology, and Pau, France is expanding their existing Ballard powered FCEB fleet. There are now four French cities with Ballard fuel cell buses in service or development.

The area of Frankfurt, Germany is also expanding the number of zero-emission FCEBs powered by Ballard fuel cell technology. There are now six German cities with Ballard fuel cell buses in service or development, an increase of three cities since last year.

Brighton, England is the first UK municipality of its kind to have a publicly stated zero emissions goal by 2030, for its fleet of nearly 500 buses. Brighton's initial order of 20 FCEBs is the first phase of FCEB development, with supportive funding from the JIVE program and the UK's Ultra Low Emission Bus Scheme.

Nearly 160 hydrogen FCEBs powered by Ballard are now in service across Europe, an increase of over 80% since October 2020. There are approximately 150 fuel cell modules currently on order with Ballard to support the deployment of an additional 150 FCEBs in the European market, inclusive of the announcement today.

"The hydrogen fuel cell bus market momentum continues to accelerate throughout Europe. In only twelve months, we have expanded from 10 into over 25 cities, across 10 European countries," said Oben Uluc, Ballard's Director, European Sales. "With orders in hand to double the number of FCEBs driving passengers on European city streets, we see an exciting forward step change in the adoption of FCEBs. We see a strong growth ramp over the coming decade as our bus OEM customers deliver Ballard-powered FCEBs to transit operators planning to decarbonize their bus fleets."

[kidl] Ballard to Power Talgo Fuel Cell Passenger Train in European Trial, Ahead of Pla...

kidl — 10/12/2021 8:51:18 AM

Ballard to Power Talgo Fuel Cell Passenger Train in European Trial, Ahead of Planned 2023 Launch PR Newswire

VANCOUVER, BC and HOBRO, Denmark, Oct. 12, 2021

VANCOUVER, BC and HOBRO, Denmark, Oct. 12, 2021 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced that the Company has signed an Equipment Supply Agreement to provide 8 of its 70-kilowatt FCmoveTM-HD fuel cell modules to Talgo S.A. (Talgo; www.talgo.com) – a leader in the design, manufacture, and maintenance of high-speed light rail trains, headquartered in Madrid, Spain – for trials of its Talgo Vittal-One commuter and regional passenger train. Talgo plans to conduct their demonstration in early 2022 in Spain, with expected commercialization in 2023.

Talgo has an industrial presence in Spain, Germany, Kazakhstan, Uzbekistan, Russia, Saudi Arabia and the U.S., and is recognized worldwide for its capacity for innovation, unique and distinctive technology and reliability.

Emilio Garcia, Talgo Innovation Director said, "Green hydrogen is no longer the future, it is a reality. The implementation of hydrogen trains, such as the one Talgo is developing, will improve mobility and have a positive impact on the environment by replacing diesel technology. It will allow us to make the most of the non-electrified railways in many countries, while reducing the carbon footprint." Mr. Garcia continued, "The announcement earlier this year of EU policies to accelerate decarbonization further validate this key step in early adoption of hydrogen trains in order to achieve these greenhouse gas reduction goals."

Oben Uluc, Ballard Director of Sales for EMEA and India noted, "We are excited to be working with Talgo through the testing phases of its Talgo Vittal-One train. This relationship is another sign of the growing momentum in deployment of zero-emission fuel cell propulsion solutions in the rail industry across numerous geographies. Fuel cell systems enable conventional rail networks to realize the benefits of electrification without the cost and infrastructure challenges of overhead catenary wiring."

The modular system being designed by Talgo is intended for installation on all types of passenger trains, as well as in upgrades or retrofits from diesel to hydrogen power. The innovative system utilizes hydrogen and fuel cells for propulsion, complemented by batteries that assist the train from a standing start and take advantage of the braking system for recharging. Hydrogen technology is an appropriate solution for heavy transport applications such as trains, where railway lines do not currently have catenary electrification systems and depend on diesel engines.

[kidl] Ballard Power Systems and Quantron AG announce a strategic partnership for the d...

kidl — 9/7/2021 9:11:26 AM

Ballard Power Systems and Quantron AG announce a strategic partnership for the development of hydrogen fuel cell electric trucks PR Newswire

VANCOUVER, BC and MUNICH, Sept. 7, 2021

The Ballard and QUANTRON strategic partnership will bring several fuel cell electric truck platforms to market Highly efficient Ballard hydrogen fuel cell engines will enhance QUANTRON's electric vehicle design with longer range, fast refuelling, and no compromise on payload Initially QUANTRON will integrate Ballard's latest generation FCmove™ heavy duty fuel cell power modules into its electric truck platforms Initial delivery of QUANTRON fuel cell electric trucks is scheduled for the second half of 2022 in Germany VANCOUVER, BC and MUNICH, Sept. 7, 2021 /PRNewswire/ - The partnership of Ballard, a global leader in fuel cell technologies, and QUANTRON, a global leader in electric vehicle integration is expected to accelerate deployment and market adoption of fuel cell technologies. The combined, complementary expertise of Ballard and QUANTRON enables broader customer access to zero emissions fuel cell electric trucks without compromising on range, payload, vehicle utilization or total cost of ownership.

Initial collaboration will focus on the integration of Ballard's FCmove™ family of heavy-duty fuel cell power modules into QUANTRON's electric drivetrain and vehicles. Fuel cell electric truck platforms currently in development include a 7.5t delivery truck, a 44t heavy duty truck and a municipal waste collection truck.

Initial deployment of fuel cell electric trucks is scheduled for the second half of 2022. In Europe, various government subsidies and incentives will be available to vehicle fleet operators. Specifically, Germany has recently committed to covering up to 80% of conversion costs from internal combustions engines to alternative drives through the e-mobility support program.

Key milestone in acceleration of fuel cell technology adoption for truck applications

Andreas Haller, founder and Chairman of Quantron AG: "This is another important milestone for QUANTRON's global growth. The cooperation with Ballard enables us to bring customised hydrogen commercial vehicles with fuel cell electric drives to the market. Today we embark on a journey of joint development and production of fuel cell electric commercial vehicles"

Robert Campbell, Chief Customer Officer of Ballard Power Systems: "Ballard is looking forward to collaborating with QUANTRON to accelerate the adoption of fuel cell technology for truck applications. The combination of both companies' expertise will deliver high performance hydrogen trucks to respond to the growing demand for zero emission vehicles from fleet operators and unlock new business opportunities for medium and heavy-duty fuel cell trucks in Germany. Ballard is bringing its 8th generation of heavy-duty fuel cell power module experience built upon over 85 million km's of road service from over 3,500 buses and trucks powered by our leading PEM technology today."

Positive impact towards zero emission transport

Heavy duty vehicles have a higher impact on emissions and air pollution in cities than any other vehicle. The critical role of hydrogen and fuel cell technologies in the decarbonization of this sector has now been recognized in many European countries' hydrogen strategies. Hydrogen and fuel cell technologies are critical to the industry-wide decarbonization effort. The QUANTRON-Ballard collaboration will leverage the synergies between battery electric and fuel cell electric powertrains to enable a greener, faster and more cost effective decarbonization of the transportation

About Quantron AG
Quantron AG is a system provider of clean battery and hydrogen-powered e-mobility for commercial vehicles such as trucks, buses and vans. In addition to new electric vehicles, the wide range of services offered by the innovation forge includes the electrification of used and existing vehicles, the creation of individual overall concepts including the appropriate charging infrastructure as well as rental, financing and leasing offers and driver training. Quantron AG also sells batteries and integrated customized electrification concepts to manufacturers of commercial vehicles, machinery and intra-logistics vehicles. The German company from Augsburg in Bavaria is a pioneer and innovation driver for e-mobility in passenger, transport and freight traffic. It has a network of 700 service partners and the comprehensive knowledge of qualified experts in the fields of power electronics and battery technology, through its cooperation with CATL, the world's largest battery producer. Quantron AG, as a high-tech spin-off of the renowned Haller GmbH, combines 138 years of commercial vehicle experience with state-of-the-art e-mobility know-how.

You can find more information at www.quantron.net
Visit the Quantron AG on its social media channels on LinkedIn and YouTube.

[kidl] Ballard Announces Follow-On Order From New Flyer for Fuel Cell Modules to Power ...

kidl — 6/22/2021 10:11:22 AM

Ballard Announces Follow-On Order From New Flyer for Fuel Cell Modules to Power 20 Buses in California

PR Newswire

VANCOUVER, BC, June 22, 2021

VANCOUVER, BC, June 22, 2021 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced that it has received a follow-on purchase order from New Flyer ( www.newflyer.com), North America's heavy-duty transit bus leader and Ballard partner, for 20 fuel cell modules to power 20 New Flyer Xcelsior® model Fuel Cell Electric Buses, or FCEBs, planned for deployment with Alameda-Contra Costa Transit District (AC Transit) in Oakland, California. Ballard plans to deliver all the modules to New Flyer this year and deployment of the New Flyer buses will bring the total number of Ballard-powered FCEBs operated by AC Transit to 31.

"The orders announced today from New Flyer for 20 fuel cell modules brings the number of New Flyer FCEBs that Ballard is powering in California to 45 and underpins the importance of our long-standing partnership with North America's leading bus manufacturer," said Rob Campbell, Ballard Chief Commercial Officer. "The FCEB market is gaining momentum and is expected to continue on a positive growth path in the U.S. and globally. Ballard intends to continue leading with proven and reliable fuel cell products that offer superior total cost of ownership for bus fleet operators along with the benefits of fuel cell buses that deliver route flexibility, rapid refueling and long range zero-emission performance."

The California Air Resources Board (CARB) has passed an Innovative Clean Transit (ICT) regulation requiring a growing proportion of buses purchased by transit agencies in the state to be zero-emission. The goal of the ICT regulation is for 100% of all transit buses operating in the state to be zero-emission by 2040. To accomplish this, 25% of buses purchased by California transit agencies must be zero-emission beginning in 2023, rising to 50% by 2026 and 100% by 2029. Ballard is seeing increased market interest from California transit authorities as they move to adopt zero-emission buses in compliance with ICT requirements.

[kidl] Ballard, Linamar to co-develop fuel cell powertrains Ballard Power Systems In...

kidl — 5/3/2021 1:08:00 PM

Ballard, Linamar to co-develop fuel cell powertrains

Ballard Power Systems Inc (C:BLDP)
Shares Issued 297,479,182
Last Close 4/30/2021 $26.84
Monday May 3 2021 - News Release

Also Linamar Corp (C:LNR) News Release

Mr. Guy McAree of Ballard reports

BALLARD AND LINAMAR FORM STRATEGIC ALLIANCE TO DEVELOP FUEL CELL SOLUTIONS FOR LIGHT-DUTY VEHICLES

Ballard Power Systems Inc. and Linamar Corp. have formed a strategic alliance for the co-development and sale of fuel cell powertrains and components for Class 1 and 2 vehicles, weighing up to five tons, initially in North America and Europe.

With emission regulations, zero-emission vehicle mandates and low emission zones in-place in many jurisdictions around the world, there is a key imperative to find truly green end-to-end solutions that combine zero-emission operation with zero-emissions fuel sources. Fuel Cell Electric Vehicles (FCEVs) are an answer to that challenge.

In particular, there is growing demand for FCEVs that can operate on long duty cycles - without payload compromise - and be rapidly refueled in order to maximize fleet utilization.

In the initial phase of work under a Framework Agreement, a fuel cell powertrain solution will be developed, with Ballard providing the fuel cell subsystem and Linamar providing the rolling chassis, tanks, enclosures, cradles and other balance of plant needs as well as final assembly. Following successful testing of the demonstration platform, Ballard and Linamar contemplate the formation of a joint venture to sell and support powertrains with fuel cell systems and an interchangeable rolling chassis for use in a range of light-duty class 1 and 2 vehicles, including passenger cars, SUV's, light trucks and commercial vans.

"The establishment of this partnership to commercialize solutions for light duty vehicles using Fuel Cell technology is transformative for the future of mobility and combines the global technology leadership of two great Canadian businesses," said Linamar CEO Linda Hasenfratz, "Our Plug and Play concept will make the evolution from Battery Electric Vehicles to FCEV seamless and drive real change in terms of environmental sustainability."

Randy MacEwen, Ballard President and CEO added, "We are excited to form a strategic alliance with Linamar, a leading global manufacturer of precision products and powertrain system solutions that is leaning into the future of zero-emission mobility. In addition to our existing joint working relationship on the recently announced UPS delivery vans trial in California, we now deepen our collaboration based on a joint vision to provide zero-emission fuel cell powertrains for light-duty vehicles, particularly those that require long range, extended duty cycle and rapid refueling."

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.

About Linamar Corporation

About Linamar: Linamar Corporation (TSX:LNR) is an advanced manufacturing company where the intersection of leading-edge technology and deep manufacturing expertise is creating solutions that power vehicles, motion, work and lives for the future. The Company is made up of two operating segments - the Industrial segment and the Transportation segment, both global leaders in manufacturing solutions and world-class developers of highly engineered products. The Industrial segment is comprised of Skyjack and MacDon. Skyjack manufactures scissor, boom and telehandler lifts for the aerial work platform industry. MacDon manufactures combine draper headers and self-propelled windrowers for the agricultural harvesting industry. The Transportation segment is subdivided into three regional groups: North America, Europe and Asia Pacific. Within the Transportation segment, the regional groups are vertically integrated operations combining expertise in light metal casting, forging, machining and assembly for both the global electrified and traditionally powered vehicle markets. The Transportation segment products are focused on both components and systems for new energy powertrains, body and chassis, driveline, engine and transmission systems of these vehicles. McLaren Engineering provides design, development, and testing services for the Transportation segment. Linamar has over 26,000 employees in 61 manufacturing locations, 12 R&D centres and 25 sales offices in 17 countries in North and South America, Europe and Asia which generated sales of $7.4 billion in 2019. For more information about Linamar Corporation and its industry leading products and services, visit www.linamar.com or follow us on Twitter at @LinamarCorp.

We seek Safe Harbor.

© 2021 Canjex Publishing Ltd.

[kidl] Daimler and Volvo plan hydrogen fuel cell truck production in 2025 autoblog.com

kidl — 4/30/2021 7:14:27 AM

[kidl] FP/wire say Ballard hears Great Wall's hydrogen plans Ballard Power Systems I...

kidl — 3/30/2021 9:55:06 AM

FP/wire say Ballard hears Great Wall's hydrogen plans

Ballard Power Systems Inc (C:BLDP)
Shares Issued 297,082,350
Last Close 3/29/2021 $26.79
Tuesday March 30 2021 - In the News

The Financial Post reports in its Tuesday edition that Great Wall Motor, China's biggest maker of sport-utility vehicles, plans to roll out its first hydrogen-powered SUV this year. A Bloomberg dispatch to the Post says that the company will also deploy its hydrogen-powered cars during the Winter Olympics in China next year. Great Wall has invested tw billion yuan ($305-million (U.S.)) over the past five years to develop hydrogen-power-related technologies that can be used for vehicles as well as marine and rail transport. Founder Wei Jianjun added that Great Wall will invest another three billion yuan over the next three years and plans to become a top-three seller of hydrogen-powered automobiles by 2025. "Development of the hydrogen-related industry will move forward as quickly as that for electric vehicles," Mr. Wei said. The company last month said it will work with Beijing-based Horizon Robotics to develop intelligent driving technologies. The nascent hydrogen-vehicle market globally is dominated by companies such as Toyota Motor and Ballard. Electric-vehicle pioneer Elon Musk has famously dismissed hydrogen cars as "mind-bogglingly stupid," arguing that EVs have a lock on green transport.

© 2021 Canjex Publishing Ltd.

[60HzEE] Perhaps, instead of "retraining," research may yield a way to crack fossil hydro...

60HzEE — 3/24/2021 9:06:53 AM

Perhaps, instead of "retraining," research may yield a way to crack fossil hydrocarbons in a manner to capture the C and release the H2. Not all H2 will come from electrolysis.

[kidl] Canada, Germany sign green energy deal in bid to power fledgling hydrogen sector...

kidl — 3/17/2021 8:03:27 AM

Canada, Germany sign green energy deal in bid to power fledgling hydrogen sector

cbc.ca

[60HzEE] FCEL had disappointing earnings and apparently affected BLDP. Even though compl...

60HzEE — 3/16/2021 3:19:25 PM

FCEL had disappointing earnings and apparently affected BLDP. Even though completely different, non-competing markets. I hold both. BLDP is getting a lot of heavy transportation wins.

FCEL, however, stressed its H2 production capabilities in its presentation. Probably a lot of competition for PLUG in its desire to sell H2. They may end up buying it from FCEL......

[60HzEE] Thanks, but it does not offer practical mobile storage. Very high pressures nec...

60HzEE — 3/15/2021 4:13:35 PM

Thanks, but it does not offer practical mobile storage. Very high pressures necessary to get enough range to compare with batteries.

Solve that via H2 absorption or some such and the world will be running on BLDP fuel cells......

FCEL's high temperature carbonate stacks can reform CH3 using waste heat. Also, FCEL has a line of high efficiency electrolyzers for straightaway generation.

BLDP's focused on the heavy transportation which makes sense, at least for now. If the Chinese would just buy more.....

[kidl] Globe says Ballard sees Germany excited about hydrogen The Globe and Mail r...

kidl — 3/15/2021 12:54:32 PM

Globe says Ballard sees Germany excited about hydrogen

The Globe and Mail reports in its Monday edition that Canada has a chance to get a leg up in the increasingly heated global race to produce and sell hydrogen, courtesy of interest from one of the world's largest emerging markets for the alternative fuel source. The Globe's Adam Radwanski and Emma Graney write that on Tuesday, the feds will sign a new agreement with Germany to work together on the clean-energy transition, including developing policies and regulations, and integrating large shares of renewables into electricity systems. Hydrogen is expected to play a central role, with Germany's ambassador to Ottawa, Sabine Sparwasser, touting her government's plan to make hydrogen a centrepiece of its decarbonization strategy. "Germany is probably the world's most interesting market for hydrogen right now, and Canada is potentially a very big power in its production," Ms. Sparwasser told The Globe. Germany may also call into question the nature of Canada's strategy to develop its hydrogen industry -- preferring "blue" hydrogen, which means producing the element from natural gas or other fossil fuels. Germany, however, is more interested in importing "green" hydrogen, which is derived from non-fossil-fuel sources.

© 2021 Canjex Publishing Ltd.

Globe says Juvekar maintains Ballard Power at "buy"

The Globe and Mail reports in its Saturday, March 13, edition that Citi analyst P.J. Juvekar expects slower near-term growth for Ballard Power Systems after the release of fourth quarter release that were "nothing to write home about." The Globe's David Leeder writes in the Eye On Equities column that Mr. Juvekar continues to rate the shares "buy," while trimming his share target to $33 (U.S.) from $42 (U.S.). Analysts on average target the shares at $33.22 (U.S.). Mr. Juvekar says in a note: "We caution that the real growth is back-end loaded by mid-decade. In our view, the hydrogen economy is still attractive and government policies are supportive. China is expected to announce demonstration city clusters and FCEV subsidies in short order. Bus orders continue to grow, particularly in Europe, while a 240kW heavy-duty (HD) truck prototype engine with MAHLE is expected by YE21 for customer testing. ... Our stock price target is lowered due to higher interest rates, lower terminal growth rate, and slower order intake due to COVID-19. We continue to believe that the hydrogen economy is here to stay and Ballard is well-positioned in the emerging fuel cell applications for bus, truck, rail and marine."

© 2021 Canjex Publishing Ltd.

[kidl] Lots of related info on the web as well as on Ballard’s site. Some key info ...

kidl — 3/15/2021 11:54:41 AM

Lots of related info on the web as well as on Ballard’s site.

Some key info in this short white paper:

ballard.com

[60HzEE] Does anyone yet have a reasonable solution to the "hydrogen pressure problem"? ...

60HzEE — 3/15/2021 9:18:02 AM

Does anyone yet have a reasonable solution to the "hydrogen pressure problem"?

Carrying H2 at 10,000psi isn't the safest or most practical idea.

[kidl] Ballard Fuel Cells to Power CP Hydrogen Locomotive Program Canada NewsWire V...

kidl — 3/10/2021 10:53:39 AM

Ballard Fuel Cells to Power CP Hydrogen Locomotive Program Canada NewsWire

VANCOUVER, BC and CALGARY, AB, March 9, 2021

VANCOUVER, BC and CALGARY, AB, March 9, 2021 /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) and Canadian Pacific (TSX: CP; NYSE: CP), announced today that CP will employ Ballard fuel cell modules for CP's pioneering Hydrogen Locomotive Program. The modules will provide a total of 1.2 megawatts of electricity to power the locomotive.

"With this purchase from Ballard, a leader in the hydrogen fuel cell industry, CP further demonstrates its commitment to developing the next generation of locomotive – one that produces zero emissions," said CP President and CEO Keith Creel. "How we power our trains matters to our customers, employees, shareholders and to the communities we operate in. This technology holds the possibility of eliminating emissions from freight train operations, which already represent the most efficient method of moving goods over land."

Through its Hydrogen Locomotive Program, CP will develop North America's first hydrogen-powered line-haul freight locomotive by retrofitting a formerly diesel-powered locomotive with Ballard hydrogen fuel cells. The fuel cells will work with battery technology to power the locomotive's electric traction motors. Once operational, CP will conduct rail service trials and qualification testing to evaluate the technology's readiness for the freight-rail sector.

Ballard plans to deliver six of its 200-kilowatt fuel cell modules to CP in 2021. Ballard will provide support to enable integration of the modules into the locomotive.

Randy MacEwen, Ballard President and CEO, noted, "We are excited to be working with CP, an industry leader in the North American rail sector. CP's Hydrogen Locomotive Program will develop North America's first hydrogen and fuel cell-powered line-haul freight locomotive. In addition to Ballard's work focused on powering commuter trains in Europe and urban trams in China, CP's Hydrogen Locomotive Program in North America underscores the strong fit for zero-emission fuel cells to power heavy- and medium-duty motive applications, including trains, for which it is otherwise difficult to abate emissions."

[kidl] The Financial Post reports in its Wednesday edition that the U.S. oil and gas in...

kidl — 3/3/2021 10:28:52 AM

The Financial Post reports in its Wednesday edition that the U.S. oil and gas industry should embrace "huge opportunities" in producing and transporting hydrogen, with the potential for that cutting-edge energy source to fuel long-haul trucks and supply power globally, presidential climate envoy John Kerry said Tuesday. A Bloomberg dispatch to the Post quotes Mr. Kerry telling the Ceraweek conferenc: "That's jump ball right now. The test is going to be how do we produce the hydrogen in a way that isn't so damaging and carbon-intensive." President Joe Biden has extolled the climate potential of hydrogen, which is widely seen as a lower-carbon alternative to natural gas in fuelling power plants and vehicles. While most of it is extracted from gas, there is a push to use renewable energy to make the fuel from water, which would not generate carbon emissions. Oil and gas companies have "incredible infrastructure" to transport hydrogen, Mr. Kerry said. Mr. Kerry said the Biden administration will push China on the issue, even as it confronts the world's top greenhouse-gas emitter over trade and intellectual property concerns. The U.S. formally rejoined some 195 other countries in the Paris Agreement last month.

© 2021 Canjex Publishing Ltd.

[kidl] NFI Subsidiary ADL's New British-Built H2.0 Double-Deck Hydrogen Bus to Deliver ...

kidl — 2/25/2021 10:07:27 AM

NFI Subsidiary ADL's New British-Built H2.0 Double-Deck Hydrogen Bus to Deliver Up to 300 Zero-Emission Mile Range

Canada NewsWire

LARBERT, Scotland, Feb. 25, 2021

LARBERT, Scotland, Feb. 25, 2021 /CNW/ - (TSX: NFI) Alexander Dennis Limited ("ADL"), a subsidiary of NFI Group Inc. ("NFI"), one of the world's leading independent global bus manufacturers, today announced that its next generation double deck hydrogen bus ("H2.0") will deliver a zero-emission range of up to 300 miles. H2.0 will be powered by a Ballard fuel cell power module through the efficient Voith Electrical Drive System (VEDS).

Designed and fully built in Britain, H2.0 is ADL's second-generation hydrogen platform, incorporating learnings from nationwide trials and more than 25 years of hydrogen experience of New Flyer, another NFI Group subsidiary, to set new standards for range and efficiency. The H2.0 is expected to be on the road before the end of the year. It supports the development of skills in the growing clean vehicle technology sector and boosts the UK hydrogen economy. In addition, it will also assist in delivering governments' net-zero targets through the carbon-neutral electrification of high-mileage bus routes.

Integrating with a class-leading Ballard fuel cell power module, H2.0 continues ADL's philosophy of working with only the best in the field. Specified to just the right power output, the fuel cells minimise fuel consumption and maximise performance for lowest total cost of ownership. With fewer higher volume tanks, H2.0 reduces maintenance effort while increasing fuel capacity to deliver increased zero-emission range.

H2.0 uses the latest technology in the form of the Voith Electrical Drive System. This boosts energy regeneration during the braking phase and delivers increased efficiency that is further enhanced by advanced thermal management which uses excess heat from the fuel cells and driveline to heat the saloon, minimising additional power requirement.

ADL President & Managing Director, Paul Davies said, "H2.0 is going to be a milestone for zero-emission technology, with unrivalled efficiency that gives a class-leading range, perfect for high-mileage routes that battery technology alone doesn't cover. Designed and built in Britain, our next generation hydrogen bus will retain investment in our economy and boost skills in clean vehicle technology, a crucial sector for future development as the United Kingdom targets net zero by 2050."

NFI Group is a leader and innovator in zero-emission mobility. The Company's battery-electric and fuel-cell electric vehicles are in more than 80 cities in four countries and have completed over 20 million electric service miles.

[kidl] Ballard Increases Bought Deal Offering of Common Shares VANCOUVER, British Co...

kidl — 2/10/2021 9:49:42 AM

Ballard Increases Bought Deal Offering of Common Shares

VANCOUVER, British Columbia, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Ballard Power Systems ("Ballard" or "the Company") (NASDAQ: BLDP; TSX: BLDP) today announced that, due to strong demand, it has agreed with a syndicate of underwriters led by TD Securities Inc. and National Bank Financial Inc. (collectively, the "Underwriters"), to increase the size of its previously announced US$350 million bought deal offering (the "Offering"). Pursuant to the upsized deal terms, the Underwriters have agreed to purchase, on a bought deal basis, 14,870,000 common shares of the Company (the "Common Shares") at a price of US$37.00 per Common Share (the "Offering Price") for gross proceeds of US$550,190,000.

The Underwriters have also been granted an option (the "Over-Allotment Option"), exercisable in whole or in part and from time to time, at any time until 30 days after the closing date of the Offering, to purchase from the Company up to an additional 2,230,500 Common Shares at the Offering Price for additional gross proceeds of up to US$82,528,500 to the Company. If the Over-Allotment Option is exercised by the Underwriters in full, aggregate gross proceeds of the Offering will be US$632,718,500.

[kidl] Crappy pricing but at least no cheap warrants ... Ballard Announces US$350 Mill...

kidl — 2/9/2021 6:03:46 PM

Crappy pricing but at least no cheap warrants ...

Ballard Announces US$350 Million Bought Deal Offering of Common Shares

VANCOUVER, British Columbia, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Ballard Power Systems ("Ballard" or "the Company") (NASDAQ: BLDP; TSX: BLDP) today announced that it has entered into an agreement with a syndicate of underwriters led by TD Securities Inc. and National Bank Financial Inc. (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 9,460,000 common shares of the Company (the "Common Shares") at a price of US$37.00 per Common Share (the "Offering Price") for gross proceeds of US$350,020,000 (the "Offering"). The Underwriters have also been granted an option (the "Over-Allotment Option"), exercisable in whole or in part and from time to time, at any time until 30 days after the closing date of the Offering, to purchase from the Company up to an additional 1,419,000 Common Shares at the Offering Price for additional gross proceeds of up to US$52,503,000 to the Company. If the Over-Allotment Option is exercised by the Underwriters in full, aggregate gross proceeds of the Offering will be US$402,523,000.

The Common Shares will be issued by way of a short form prospectus that will be filed with the securities regulatory authorities in all provinces and territories of Canada (excluding Quebec) and by way of a registration statement with the Securities and Exchange Commission (the "SEC") in the United States under the multijurisdictional disclosure system. The Company filed a preliminary short form prospectus in respect of the Offering and a registration statement (including the preliminary short form prospectus) with the SEC to which this communication and the Offering relate. The preliminary short form prospectus is subject to completion or amendment, and the registration statement has not yet become effective. The Common Shares may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Before you invest, you should read the short form prospectus and other documents Ballard has filed with the SEC and with the Canadian securities regulatory authorities for more complete information about Ballard and the Offering. The Offering is made only by the prospectus. The prospectuses will be available for free on the SEDAR website maintained by the Canadian Securities Administrators at www.sedar.com and on the SEC's website at www.sec.gov.

Alternatively, the Company, any underwriter or any dealer participating in the offering will arrange to send you the prospectus, if you request it by contacting TD Securities Inc. in Canada, Attention: Symcor, NPM (tel: 289-360-2009, email: sdcconfirms@td.com), 1625 Tech Avenue, Mississauga ON L4W 5P5; or you may request it from TD Securities (USA) LLC in the U.S. (tel: 212-827-7392), 31 W 52nd Street, New York NY 10019; or National Bank Financial Inc.: Equity Capital Markets, 130 King Street West, 4th Floor Podium, email: ecm-origination@nbc.ca.

The Company intends to use net proceeds of the Offering to further strengthen the balance sheet, thereby providing additional flexibility to fund its growth strategy, including through activities such as product innovation, investments in production capacity expansion and localization, future acquisitions and strategic partnerships and investments.

The Offering is expected to close on or about February 23, 2021 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.

[kidl] Ballard Signs MOU with Global Energy Ventures For Development of Fuel Cell-Power...

kidl — 2/4/2021 11:01:02 AM

Ballard Signs MOU with Global Energy Ventures For Development of Fuel Cell-Powered Ship

PR Newswire

VANCOUVER, BC and WEST PERTH, Australia, Feb. 3, 2021

VANCOUVER, BC and WEST PERTH, Australia, Feb. 3, 2021 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced that it has signed a non-binding Memorandum of Understanding (MOU) with Global Energy Ventures (ASX: GEV; www.gev.com) – a provider of integrated compressed shipping solutions for the transportation of energy to regional markets, headquartered in Australia – for the development of a new fuel cell-powered ship, called C-H2 Ship, designed to transport compressed green hydrogen.

The power required for a small-scale demonstration of the C-H2 Ship is expected to be under 10 megawatts (MW). At full scale, the C-H2 Ship will have a propulsion power requirement of approximately 26MW, and a containment system for storage of 2,000 tons of compressed green hydrogen.

GEV will be responsible for design approvals, development, financing, and operation of C-H2 Ship, along with integration of the required power system. Ballard will be responsible for design of the fuel cell system for the C-H2 Ship, based on its FCwaveTM technology, and will assist GEV with integration of the fuel cell system into the vessel's design. Ballard's FCwaveTM system will obtain its hydrogen fuel from the compressed green hydrogen stored onboard and transported by the vessel.

Martin Carolan, Executive Director of Global Energy Ventures said, "This MOU is a significant step in our development of the Company's C-H2 Ship, with hydrogen fuel cells now at the forefront of zero-emission technologies for shipping. We look forward to working with Ballard on the development of the C-H2 Ship's fuel cell system and power requirements in line with our development program for a compressed shipping solution for hydrogen marine transport at scale."

Rob Campbell, Ballard Chief Commercial Officer noted, "Hydrogen and fuel cell technology provide a compelling path for the decarbonization of the maritime sector, one of the key Medium- and Heavy-Duty Motive applications for which our products offer a particularly strong value proposition. Working with Global Energy Ventures will allow us to advance megawatt-scale hydrogen fuel cell and storage integration on board a large marine vessel. We are looking forward to collaborating with GEV on the visionary C-H2 Ship."

[kidl] Ballard Announces Follow-On Orders for Fuel Cell Modules to Power 10 Solaris Bus...

kidl — 2/2/2021 10:05:17 AM

Ballard Announces Follow-On Orders for Fuel Cell Modules to Power 10 Solaris Buses in Europe

Canada NewsWire

VANCOUVER, BC and HOBRO, Denmark, Feb. 2, 2021

VANCOUVER, BC and HOBRO, Denmark, Feb. 2, 2021 /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced purchase orders from Solaris Bus & Coach S.A. ("Solaris"; www.solarisbus.com), a leading European bus and trolleybus manufacturer and Ballard partner headquartered in Bolechowo, Poland, for 10 Ballard FCmove™ fuel cell modules to power 10 Fuel Cell Electric Buses (FCEBs) in the Netherlands. Ballard plans to ship the modules in 2021.

Ballard fuel cell modules will power 10 Solaris Urbino 12 hydrogen buses planned for deployment with Arriva Nederland in the Province of Gelderland, the Netherlands later in 2021. These will replace diesel buses currently in service and are expected to cumulatively travel over 1-million kilometers (620,000 miles) per year.

Each of the single decker Solaris Urbino 12 hydrogen buses is 12-meters (40-feet) long, has 37 seats and total capacity for 85 people, and is capable of traveling 350 kilometers (210 miles) on a single hydrogen refueling. The buses are designed for maximum passenger comfort and security, with amenities that include air conditioning, a modern passenger information system, built-in USB charging points, wheelchair access, and CCTV cameras.

Rob Campbell, Ballard Chief Commercial Operator said, "With the deployment of these 10 buses, Ballard modules will be powering a total of 67 Solaris buses in The Netherlands, Germany and Italy. The order we are announcing today is indicative of the growing European and global adoption of zero-emission Fuel Cell Electric Buses, driven by recognized benefits such as range, route flexibility, fast refueling and scalability of refueling infrastructure, which all contribute to a competitive Total Cost of Ownership, or TCO, in comparison to other zero-emission bus solutions."

Partial funding for the Netherland deployment is being provided through Europe's JIVE – or Joint Initiative For Hydrogen Vehicles Across Europe – funding programs, which is intended to pave the way to commercialization of FCEBs by coordinating procurement activities to unlock economies-of-scale and reduce costs as well as supporting new hydrogen refueling stations. Results of the JIVE programs are expected to demonstrate the technical readiness of FCEBs to bus operators and the economic viability of hydrogen as a zero-emission bus fuel to policy makers. The JIVE programs are supported by a total of €57 million in grants from the Fuel Cells and Hydrogen Joint Undertaking.

[kidl] GM Pushes Ahead With Hydrogen Fuel Cell Technology For Long Haul Trucks Januar...

kidl — 1/31/2021 1:29:01 PM

GM Pushes Ahead With Hydrogen Fuel Cell Technology For Long Haul Trucks

January 31st, 2021 by Steve Hanley

cleantechnica.com

[kidl] New coverage rates Ballard "outperform" Wednesday January 20 2021 - In the Ne...

kidl — 1/20/2021 8:37:23 AM

New coverage rates Ballard "outperform"

Wednesday January 20 2021 - In the News

The Globe and Mail reports in its Wednesday edition that BMO Nesbitt Burns analyst Jonathan Lamers began coverage of Ballard Power Systems ($35.86) with an "outperform" rating (all figures U.S.). The Globe's David Leeder writes that Mr. Lamers targets the shares at $39. Analysts on average target the shares at $30.46. Mr. Lamers says in a note: "Ballard is the leading global developer of proton-exchange membrane fuel cell systems for commercial vehicles, and is set for rapid long-term growth, as the Weichai JV in China and the European heavy-duty truck markets scale up. We note a number of near-term uncertainties and in consideration for the recent rise in valuation, initiate monitoring for a favourable entry point." The Globe reported on Oct. 28, 2020, that Erica Lau at North Growth Management was keen on Ballard. The shares were then worth $52.77. The Globe reported on Nov. 11, 2020, that H.C. Wainwright & Co. analyst Amit Dayal downgraded his rating for Ballard to "neutral" from "buy." The shares were then worth $57.37. The Globe reported on Jan. 12, 2021, that Raymond James analyst Michael Glen had boosted his rating for Ballard to "strong buy" from "outperform." The shares were then worth $28.96.

© 2021 Canjex Publishing Ltd.

[kidl] Post says Ballard gearing up for acquisitions Monday January 18 2021 - In the N...

kidl — 1/19/2021 8:17:29 AM

Post says Ballard gearing up for acquisitions

Monday January 18 2021 - In the News

The Financial Post reports in its Saturday edition that Ballard Power Systems may add debt to its balance sheet for the first time in years for acquisitions given current cheap financing costs. A Bloomberg dispatch to the Post quotes chief financial officer Tony Guglielmin saying: "If we go into the market again to raise more capital, particularly for an M&A opportunity, absolutely the debt markets would be something we would prioritize. Because we fit squarely in the green area, we could access that market and it's very attractive right now in terms of pricing." Ballard Power, which provides fuel cells for buses, commercial trucks, trains, marine vessels, passenger cars and forklifts, gets over 95 per cent of its revenues in North America, Europe and China. The Vancouver-area firm, which last year raised $700-million (U.S.) in the equity markets, is looking for potential acquisitions mostly in Europe, where there are "handful of very strong companies," Mr. Guglielmin said. "We do have a very active pipeline and we're looking at a number of M&A opportunities," he said, adding that around $150-million (U.S.) of the money raised last year will finance operations before the company reaches cash-flow break-even.

© 2021 Canjex Publishing Ltd.

[bagwajohn] I was in the green energy companies early on and watched a few go under. ENER, C...

bagwajohn — 1/12/2021 7:34:30 PM

I was in the green energy companies early on and watched a few go under. ENER, CPST, etc. ENER went under. I went into fuel cell companies on a hunch when they were all struggling, and just waited. FCEL did a reverse and left me with 25 shares. I bought back into that one around Nov of 19 when it was .78. Made back my loss and then some. It feels good to be riding all profit shares on the ones I hold. The rises we're seeing at this point in time gives me goose bumps.

[kidl] You have been much earlier than I was in paying attention. I didn't really take...

kidl — 1/12/2021 3:36:21 PM

You have been much earlier than I was in paying attention.

I didn't really take it serious until 2017.

[bagwajohn] I've been holding BLDP, FCEL, and PLUG since late 2013. The ride is getting pret...

bagwajohn — 1/12/2021 2:54:07 PM

I've been holding BLDP, FCEL, and PLUG since late 2013. The ride is getting pretty brisk.

[kidl] The Globe and Mail reports in its Tuesday, Jan. 12, edition that Raymond James a...

kidl — 1/12/2021 9:52:40 AM

The Globe and Mail reports in its Tuesday, Jan. 12, edition that Raymond James analyst Michael Glen has boosted his rating for Ballard Power Systems ($28.96) to "strong buy" from "outperform" (all figures U.S.). The Globe's David Leeder writes in the Eye On Equities column that Mr. Glen elevated his share target to $40 from $28. Analysts on average target the shares at $26.35. Mr. Glen says he expects "substantial" company-specific and hydrogen industry catalysts to come in 2021. Mr. Glen says in a note: "In previous publications we have described 2021 as a 'watershed moment' in the history of the hydrogen economy. One short week into 2021, and we are already seeing this play out in a substantial way. As many investors will have seen, last week U.S. based hydrogen peer Plug Power announced a $1.5-billion direct equity investment from SK Group, a large South Korean industrial conglomerate. Perhaps to no surprise, this announcement triggered large moves across most hydrogen stocks, Ballard included. ... When we look at Ballard's relationships, strategic alignments, and investment focus, we see a company that is exceptionally well positioned as substantial investment dollars are allocated toward hydrogen."

© 2021 Canjex Publishing Ltd.

[kidl] Ballard Announces Order for Modules to Power Scotland's First Fuel Cell-Powered ...

kidl — 1/12/2021 9:49:22 AM

Ballard Announces Order for Modules to Power Scotland's First Fuel Cell-Powered Train

Canada NewsWire

VANCOUVER, BC, Jan. 12, 2021

VANCOUVER, BC, Jan. 12, 2021 /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced a purchase order from Arcola Energy ("Arcola"; www.arcolaenergy.com), a U.K.-based leader in hydrogen and fuel cell integration specializing in zero-emission solutions for heavy-duty vehicles and transport applications, for Ballard FCmoveTM-HD fuel cell modules to power a passenger train planned for demonstration during COP26, to be hosted by Glasgow City in November 2021. This project will contribute to Scotland's goal for net zero emissions by 2035.

Scottish Enterprise, Transport Scotland and the Hydrogen Accelerator, based at the University of St. Andrews, have appointed Arcola and a consortium of industry leaders in hydrogen fuel cell integration, rail engineering and functional safety to deliver Scotland's first hydrogen-powered train. The consortium will convert a Class 314 car passenger train, made available by ScotRail, into a deployment-ready and certified platform for hydrogen-powered train development. The Bo'ness and Kinneil Railway will provide engineering facilities and support for testing and public demonstrations.

Dr. Ben Todd, CEO of Arcola Energy said, "Hydrogen traction power offers a safe, reliable and zero-carbon alternative for Scotland's rail network. The hydrogen train project is an excellent opportunity for industry leaders in hydrogen, rail engineering and safety to collaborate with Scottish and other technology providers to develop a deployment ready solution."

Rob Campbell, Ballard Chief Commercial Officer noted, "Ballard is delighted to work with Arcola and other consortium members on the development of Scotland's first fuel cell-powered train. This project is an example of the growing global interest in fuel cells for the Medium- and Heavy-Duty Motive market, including rail applications, where heavy payload, long range and rapid refueling are key customer requirements."

[kidl] Globe says Ballard soars on S. Korean hydrogen deal Ballard Power Systems Inc...

kidl — 1/8/2021 9:59:32 AM

Globe says Ballard soars on S. Korean hydrogen deal

Ballard Power Systems Inc (C:BLDP)
Shares Issued 279,697,591
Last Close 1/7/2021 $35.64
Friday January 8 2021 - In the News

The Globe and Mail reports in its Friday edition that South Korean conglomerate SK Group is acquiring a 9.9-per-cent share of Plug Power Inc. for $1.5-billion (U.S.), sending shares in the U.S. fuel cell producer higher while sparking a rally in the hydrogen sector. The Globe's Brent Jang writes that SK Group's investment in Plug Power of Latham, N.Y., is part of a new partnership designed to speed up the development of hydrogen-powered fuel cells while also spurring the production of hydrogen as an energy source in South Korea and other Asian markets. Plug Power shares surged on Thursday on the Nasdaq Stock Market, rising 35.1 per cent to close at $47.29 (U.S.). Ballard Power Systems benefited from the spotlight placed on hydrogen, with its shares jumping 15.7 per cent on the Toronto Stock Exchange to finish at $35.64, marking the Canadian company's highest close since May, 2002. Plug Power and Ballard both make hydrogen fuel cells, though the focus of Plug Power's partnership with SK Group is expected to be on hydrogen production in Asia, said MacMurray Whale, an analyst with Cormark Securities. China's Weichai Power announced in late 2018 that it bought a 19.9-per-cent stake in Ballard.

© 2021 Canjex Publishing Ltd.

[kidl] Not about Ballard but a fun read. Why Hyperion’s CEO Is So Hyped on Its Hydroge...

kidl — 12/22/2020 10:40:48 AM

Not about Ballard but a fun read.

Why Hyperion’s CEO Is So Hyped on Its Hydrogen-Powered XP-1

msn.com

[kidl] Ballard Announces Van Hool Follow-on Order For 10 Fuel Cell Modules to Power Bus...

kidl — 12/17/2020 6:40:09 AM

Ballard Announces Van Hool Follow-on Order For 10 Fuel Cell Modules to Power Buses in Holland

PR Newswire

VANCOUVER, BC, Dec. 17, 2020

VANCOUVER, BC, Dec. 17, 2020 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced a purchase order from Van Hool (https://c212.net/c/link/?t=0&l=en&o=3016259-1&h=1931420294&u=https://www.vanhool.be/en/&a=https://www.vanhool.be/en/), a leading bus OEM and Ballard partner headquartered in Belgium, for 10 fuel cell modules to power Van Hool A330 buses to be deployed in Emmen, the Netherlands, under the JIVE2 funding program.

Ballard plans to deliver the 10 fuel cell modules in 2021. These will power 10 Van Hool A330 model Fuel Cell Electric Buses (FCEBs) that are planned for deployment with Groningen-Drenthe and Qbuzz, the public transport agency in Emmen, by 2022. Shell has been contracted to build a hydrogen refueling station and is also working on development of a 10-megawatt plant for onsite production of green hydrogen. Emmen's fuel cell bus fleet is expected to use 60-to-90 tons of green hydrogen annually.

Van Hool's A330 FCEB is 12 meters (39.3 feet) long, carries up to 74 people and has a range of 350-to-400 kilometers (220-to-250 miles) between hydrogen refuelings.

Filip Van Hool, CEO of Van Hool said, "We are keen to deploy more Fuel Cell Electric Buses, powered by Ballard, in European cities. The successful integration of Ballard products into our buses, including the A330, has enabled progress toward commercialization of fuel cells in public transportation. We expect continued market penetration and growth of zero-emission fuel cell buses throughout the EU."

Rob Campbell, Ballard Chief Commercial Officer noted, "Ballard is delighted to continue our collaboration with Van Hool and we are very pleased to now provide fuel cell power modules for additional buses to be deployed in The Netherlands. With these buses Ballard will have powered more than 100 Van Hool FCEBs operating in The Netherlands – including the cities of Groningen and Emmen – and in France, Germany, Norway, Belgium and Denmark."

Ballard fuel cell modules have demonstrated unmatched on-road performance in Fuel Cell Electric Buses, including earlier generation modules operating in buses for more than 35,000 hours, with only minimal fuel cell maintenance required.

Europe's JIVE (Joint Initiative For Hydrogen Vehicles Across Europe) funding programs are intended to pave the way to commercialization of fuel cell electric buses by coordinating procurement activities to unlock economies-of-scale and reduce costs as well as supporting new hydrogen refueling stations. Results of the JIVE programs are expected to demonstrate the technical readiness of FCEBs to bus operators and the economic viability of hydrogen as a zero-emission bus fuel to policy makers. The JIVE programs are supported by a total of €57 million in grants from the Fuel Cells and Hydrogen Joint Undertaking (FCH JU).

[kidl] Globe says Ballard sees Ottawa start promoting hydrogen Ballard Power Systems I...

kidl — 12/16/2020 8:35:46 AM

Globe says Ballard sees Ottawa start promoting hydrogen

Ballard Power Systems Inc (C:BLDP)
Shares Issued 279,697,591
Last Close 12/15/2020 $24.64
Wednesday December 16 2020 - In the News

The Globe and Mail reports in its Wednesday edition that a strong Canadian hydrogen sector will require between $5-billion and $7-billion in public and private investment over the next five years and will largely rely on hydrogen derived from the country's vast natural gas reserves, according to a new federal government strategy. The Globe's Emma Graney writes that the long-awaited Hydrogen Strategy for Canada sets the stage for the development of a robust domestic hydrogen market that Ottawa hopes could be worth $50-billion and create 350,000 jobs by 2050. Its success will hinge on billions in near-term investments to ensure Canada does not fall behind other nations also eyeing the low-carbon fuel, though the plan does not put a figure on how much the federal government is willing to throw at the sector. Instead, it says tax credits, subsidies and attracting international investment will help drive the hydrogen sector's development to 2050. Hydrogen is already in use in Alberta, where the oil industry uses it to help refine crude, hydrogen-powered trucks rumble between Edmonton and Calgary as part of a pilot project. Next door in British Columbia, Ballard Power Systems is one of Canada's clean technology stars.

© 2020 Canjex Publishing Ltd.

[kidl] Ballard and Eltek Nordic to Collaborate on Fuel Cell Backup Power Systems for Co...

kidl — 12/14/2020 9:30:07 AM

Ballard and Eltek Nordic to Collaborate on Fuel Cell Backup Power Systems for Communication Networks Canada NewsWire

VANCOUVER, BC and HOBRO, Denmark, Dec. 14, 2020

VANCOUVER, BC and HOBRO, Denmark, Dec. 14, 2020 /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced that it has signed a collaboration agreement with Eltek Nordic ( www.eltek.com) – a power conversion company headquartered in Drammen, Norway and part of Delta, a global leader in power electronics, automation and infrastructure – to provide reliable backup power solutions for telecom networks and other critical communication infrastructure, with a focus on Nordic countries, primarily Norway, Denmark and Iceland. The collaboration announced today will utilize Ballard's FCgen®-H2PM fuel cell backup power system.

Ballard and Eltek have a long-standing commercial relationship, having sourced products from each other for a number of years. The companies recently collaborated on a project at Trollstigen in the mountains of Norway, installing an off-grid power solution that integrates solar, wind, fuel cells, and batteries to ensure continuous operation and connectivity of a remote telecom network site.

Jesper Themsen, President and CEO of Ballard Power Systems Europe A/S said, "Telecom and critical communication infrastructure require a highly reliable power supply, including backup power capability in the event of grid outages. With Ballard's history and expertise in fuel cell backup power systems, we are delighted to enter into this collaboration agreement with Eltek Nordic, a leading global power solutions provider, for delivery of zero-emission backup power systems to ensure uninterrupted power supply for telecom and other networks."

Ulf Ellingsen, Sales Director for Eltek Nordic noted, "Eltek Nordic delivers integrated power solutions for telecom and other critical communications infrastructure, all built around our core power conversion technology. Since hydrogen fuel cells offer a strong value proposition for backup power requirements, we are very pleased to collaborate with Ballard, the leader in PEM fuel cell products. And, with its subsidiary operation in Denmark, Ballard will be virtually local to Eltek projects in Norway, Denmark and Iceland."

As providers of extensive fiber broadband networks for telecommunications services, Nordic countries require reliable backup power systems that ensure continuous connectivity, even in the event of grid failures. Ballard's hydrogen fueled 1.7 kilowatt (kW) and 5kW FCgen®-H2PM backup power systems provide low cost, flexibility and high reliability:

Low cost – Competitive total cost of ownership is underpinned by an extensive 15-year product lifetime. Flexibility – Modular design ensures a fit with various site configurations and scalability supports power requirements up to 60kW's and beyond. No risk – High reliability in excess of 99%, tolerance to a wide range of temperatures (from -40oC to +46oC), and an intelligent architecture with predictive maintenance system and automated self-testing design for deployment in unmanned locations.

[1849] good quick rundown in that post.... it's on my watchlist, i was invested in it...

1849 — 11/27/2020 11:01:33 AM

good quick rundown in that post.... it's on my watchlist, i was invested in it 20 yrs ago until early March 2000

[kidl] Ballard Closes US$402.5 Million Bought Deal Offering of Common Shares PR Newswi...

kidl — 11/27/2020 9:43:08 AM

Ballard Closes US$402.5 Million Bought Deal Offering of Common Shares PR Newswire

VANCOUVER, BC, Nov. 27, 2020

VANCOUVER, BC, Nov. 27, 2020 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced the closing of the previously announced bought deal offering of 20,909,300 common shares of the Company (the "Common Shares") at a price of US$19.25 per Common Share (the "Offering Price") for gross proceeds of US$402,504,025 (the "Offering"), and which includes the exercise in full by the underwriters of their over-allotment option to purchase up to an additional 2,727,300 Common Shares at the Offering Price.

National Bank Financial Inc. and Raymond James Ltd. acted as joint bookrunners for the Offering, with a syndicate of underwriters which included Cormark Securities Inc. and TD Securities Inc.

[kidl] Ballard arranges $250M (U.S.) bought deal offering 2020-11-23 16:44...

kidl — 11/23/2020 7:25:56 PM

Ballard arranges $250M (U.S.) bought deal offering

2020-11-23 16:44 ET - News Release

Mr. Guy McAree reports

BALLARD ANNOUNCES US$250 MILLION BOUGHT DEAL OFFERING OF COMMON SHARES

Ballard Power Systems Inc. has entered into an agreement with a syndicate of underwriters led by National Bank Financial Inc. and Raymond James Ltd. pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 12,988,000 common shares of the company at a price of $19.25 (U.S.) per common share for gross proceeds of $250,019,000 (U.S.). The underwriters have also been granted an option, exercisable in whole or in part and from time to time, at any time until 30 days after the closing date of the offering, to purchase from the company up to an additional 1,948,200 common shares at the offering price for additional gross proceeds of up to $37,502,850 (U.S.) to the company. If the overallotment option is exercised by the underwriters in full, aggregate gross proceeds of the offering will be $287,521,850 (U.S.).

The company filed a preliminary prospectus supplement on Nov. 23, 2020, to its short-form base-shelf prospectus dated June 12, 2020. The company intends to file a final prospectus supplement to the base-shelf prospectus on or about Nov. 24, 2020. The preliminary supplement has been, and the final supplement will be, filed with the securities regulatory authorities in each of the provinces and territories of Canada. The preliminary supplement has been, and the final supplement will be, filed with the U.S. Securities and Exchange Commission (SEC) in accordance with the multijurisdictional disclosure system established between Canada and the United States. The supplements will be available on the SEDAR website maintained by the Canadian Securities Administrators and on the SEC's website.

The company has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus, as supplemented, in that registration statement and other documents the company has filed with the SEC for more complete information about the company and this offering. You may get these documents at no charge by visiting EDGAR on the SEC website. Alternatively, the company, any underwriter or any dealer participating in the offering will arrange to send you the prospectus, as supplemented, if you request it by contacting National Bank Financial: equity capital markets, 130 King St. West, fourth floor podium, or e-mail: ecm-origination@nbc.ca; or Raymond James: 5300, 40 King St. West, Scotia Plaza, PO box 415, Toronto, Ont., M5H 3Y2, or e-mail: ecm-syndication@raymondjames.ca.

The company intends to use net proceeds of the offering to further strengthen the balance sheet, thereby providing additional flexibility to finance its growth strategy, including through activities, such as product innovation, investments in production capacity expansion and localization, future acquisitions, and strategic partnerships and investments.

The offering is expected to close on or about Nov. 27, 2020, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.

About Ballard Power Systems Inc.

Ballard Power Systems' 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.

We seek Safe Harbor.

© 2020 Canjex Publishing Ltd. All rights reserved.

[kidl] China Defies Elon Musk’s Warnings and Pushes Ahead With Hydrogen bnnbloomberg.c...

kidl — 11/21/2020 9:14:07 AM

China Defies Elon Musk’s Warnings and Pushes Ahead With Hydrogen

bnnbloomberg.ca

[kidl] The Globe and Mail reports in its Wednesday, Nov. 11, edition that H.C. Wainwrig...

kidl — 11/11/2020 10:11:03 AM

The Globe and Mail reports in its Wednesday, Nov. 11, edition that H.C. Wainwright & Co. analyst Amit Dayal downgraded his rating for Ballard Power Systems to "neutral" from "buy." The Globe's David Leeder writes that Mr. Dayal did not specify a target price for the stock. Analysts on average target the shares at $30.67. Mr. Dayal says in a note: "We view the next few quarters as a period of operational consolidation where management continues to prepare for the execution ramp ahead. ... The company's opportunity set has diversified beyond trucks and buses to include marine, trains, and potentially passenger vehicles. Similarly, the company's recent agreement with Audi, expanding its ability to the FCgen proton exchange membrane (PEM) fuel cell stack in all applications (including trucks and cars), in our opinion, gives the company more control over commercializing the technology that has been developed over the last decade. In addition, the company's balance sheet with approximately $394-million in cash and no debt remains very strong. We believe this balance sheet may be leveraged for M&A, as early as within the next six to nine months, potentially providing a boost to revenues and portfolio expansion."

© 2020 Canjex Publishing Ltd.

[kidl] Q3 results ... ballard.com

kidl — 11/6/2020 10:25:25 AM

[kidl] Ballard and AUDI Sign Definitive Agreements Regarding Use of Industry-Leading Hi...

kidl — 10/30/2020 6:17:30 AM

Ballard and AUDI Sign Definitive Agreements Regarding Use of Industry-Leading High-Power Density Fuel Cell Stack for Vehicle Propulsion

Canada NewsWire

VANCOUVER, BC, Oct. 29, 2020

VANCOUVER, BC, Oct. 29, 2020 /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced that it has signed definitive agreements – in the form of Amendments to the existing Technology Development Agreement and a Patent License Agreement – with AUDI AG related to the non-binding Memorandum of Understanding previously announced in a press release on September 14, 2020, thereby expanding Ballard's right to use the FCgen®-HPS product, a high-performance, zero-emission, proton exchange membrane (PEM) fuel cell stack in all applications, including commercial trucks and passenger cars.

The FCgen®-HPS fuel cell stack provides propulsion for a range of Light-, Medium- and Heavy-Duty vehicles in an industry-leading volumetric high-power density of 4.3 kilowatts per liter (4.3 kW/L). This marks another power density milestone for Ballard over the Company's decades of PEM fuel cell product innovation. The FCgen®-HPS was fully designed and developed by Ballard to stringent automotive standards in the company's Technology Solutions program with AUDI AG.

In addition to its leading high-power density, the FCgen®-HPS delivers a combination of impressive performance metrics, including:

High power output: up to 140kW maximum power level, with scalability to multiple power blocks;
High operating temperature: up to 95oC maximum operating temperature, which allows for more efficient and smaller cooling systems; and
Rugged cold weather capabilities: -28oC freeze start capability with fast power ramp.

More information regarding the FCgen®-HPS fuel cell stack is available here.

[kidl] Globe says Lau figures Ballard a buy on pullbacks Ballard Power Systems Inc (...

kidl — 10/28/2020 9:59:54 AM

Globe says Lau figures Ballard a buy on pullbacks

Ballard Power Systems Inc (C:BLDP)
Shares Issued 244,486,462
Last Close 10/27/2020 $20.03
Wednesday October 28 2020 - In the News

The Globe and Mail reports in its Wednesday edition that Erica Lau at North Growth Management is keen on Ballard Power Systems. In a Globe special, Shirley Won writes that fuel cell developer Ballard will benefit from a growing demand for hydrogen-powered, heavy-duty electric vehicles, Ms. Lau says. For buses, trucks or trains, "lithium batteries don't have enough energy density to deliver the same range." The Vancouver-based company estimates that the market opportunity in heavy-duty vehicles will be more than $130-billion (U.S.) by 2030. Consensus analyst estimates suggest that Ballard's sales, which are mainly in Europe, China and California, will grow 37 per cent annually over the next five years. Ballard is not yet profitable, but is expected to scale up production and reduce costs so that hydrogen becomes more economic. Because its technology is disruptive, its stock is "difficult to value using traditional metrics" and is a better buy on pullbacks. Over all, clean-energy stocks are getting a tailwind as politicians and governments pledge to cut carbon emissions and mitigate the negative impact of climate change. Some names have already rallied in anticipation that Joe Biden win the Nov. 3 U.S. election.

© 2020 Canjex Publishing Ltd.

[Chartgod] LATE to the "gate"? GOSH, darned "my socks" thru the DougR hotel thru DELA-wher...

Chartgod — 10/8/2020 7:22:27 PM

LATE to the "gate"?

GOSH, darned "my socks" thru the DougR hotel thru DELA-where?

youtube.com

youtube.com

youtube.com

[kidl] Ballard Hosts Successful Virtual "Investor and Analyst Day 2020" Event Canada N...

kidl — 10/1/2020 9:23:33 AM

Ballard Hosts Successful Virtual "Investor and Analyst Day 2020" Event Canada NewsWire

VANCOUVER, BC, Sept. 30, 2020

VANCOUVER, BC, Sept. 30, 2020 /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced that the Company hosted a virtual "Investor and Analyst Day 2020" event on September 29th.

Company executives and a panel of clean energy experts delivered informative and insightful presentations and perspectives, as well as answering investors' questions, all of which underscored Ballard's leading position in the fast-growing hydrogen and fuel cell marketplace, with the company's focus on electrification of Heavy- and Medium-Duty Motive applications. The event encompassed a comprehensive review of Ballard's strategic plan – including key market opportunities – as well as progress across a number of important commercial, technology and operational fronts.

Prior to this event, Ballard issued important announcements that were discussed during the course of its virtual "Investor and Analyst Day 2020":

Launch of FCwaveTM Fuel Cell Module – September 8: Launch of the fuel cell industry's first module designed for primary propulsion power in marine vessels. This fuel cell product is a 200-kilowatt modular unit that can be scaled in series up to the multi-megawatt power level.Launch ofFCgen®-HPS High-Power Density Fuel Cell Stack – September 14: Launch of a high-performance, zero-emission, proton exchange membrane (PEM) fuel cell stack, to provide propulsion for a range of Light-, Medium- and Heavy-Duty vehicles in an industry-leading volumetric high-power density of 4.3 kilowatts per liter (4.3 kW/L).Agreement to Collaborate with MAHLE – September 28: Announcement of an agreement to collaborate with MAHLE, a leading international development partner and Tier 1 supplier to the commercial vehicle and automotive industry, on the development and commercialization of zero-emission fuel cell systems to provide primary propulsion power in various classes of commercial trucks. 6x Expansion in MEA Production Capacity – September 28: Announcement of the expansion of manufacturing capacity for production of proprietary membrane electrode assemblies, or MEAs – a critical component of every fuel cell – 6x by early 2021 at Ballard's headquarter facility in Vancouver, making this facility the largest fuel cell MEA production operation globally for commercial vehicles. A replay of the virtual "Investor and Analyst Day 2020" webcast is available at the Company's website, www.ballard.com/investors, along with presentation material covering the following topics:

Speaker	Topic
Randy MacEwen President & CEO Ballard Power Systems	• Ballard Strategic Direction
Dr. Ken DeWoskin – Senior Advisor to Deloitte Dr. David Hart – Director, E4tech Bernd Heid – Senior Partner, McKinsey & Company	• Panel Discussion – "Fuel Cell Value Proposition and Competitive Positioning"
Rob Campbell Vice President & CCO Ballard Power Systems	• Power Products Growth Platform
Dr. Kevin Colbow Vice President & CTO Ballard Power Systems	• Technology Solutions Growth Platform • Product Roadmap
Alfred Wong – Managing Director, Asia Pacific Jesper Themsen – CEO, Ballard Power Systems Europe A/S Oben Uluc – Director of Sales – EMEA Nicolas Pocard – Director of Marketing Ballard Power Systems	• China Market • Europe Market • California Market
Dr. Lee Sweetland Director of Advanced Manufacturing Ballard Power Systems	• Cost Reduction Strategy
Jyoti Sidhu Vice President, Operations Ballard Power Systems	• Operations Update
Jan Laishley Vice President, Human Resources Ballard Power Systems	• ESG & People
Tony Guglielmin Vice President & CFO Ballard Power Systems	• Financial Overview

[kidl] Globe says Lake's Brown likes Ballard Power's outlook Ballard Power Systems I...

kidl — 10/1/2020 9:14:31 AM

Globe says Lake's Brown likes Ballard Power's outlook

Ballard Power Systems Inc (C:BLDP)
Shares Issued 244,289,430
Last Close 9/30/2020 $20.12
Thursday October 1 2020 - In the News

The Globe and Mail reports in its Thursday, Oct. 1, edition that Lake Street Capital analyst Robert Brown says Ballard Power Systems' analyst day increased his confidence that a "meaningful future market penetration rates are achievable," citing its "leading technology, key strategic relationships with market leaders, and a unique market position." The Globe's David Leeder writes in the Eye On Equities column that Mr. Brown reiterated his "buy" call and $20 share target (all figures U.S.). Analysts on average target the shares at $20.47. Mr. Brown says in a note: "The company highlighted the growing demand in several markets including the European and U.S. transit bus market, the China truck market, and the marine and rail markets. Long-term policy supports in these markets have increased substantially over the past 12-18 months and commercialization efforts are ramping nicely. Ballard has a well-developed strategy for each of these markets, including JV's and partnerships as well as direct relationships, and it should see growth accelerate. The company laid out a vision of a long-term opportunity of becoming a $5-billion-plus revenue business generating 20-per-cent EBITDA margins over the next 10 years."

© 2020 Canjex Publishing Ltd.

[kidl] Ballard and MAHLE to Collaborate on Fuel Cell Propulsion Systems for Heavy- and ...

kidl — 9/28/2020 9:31:19 AM

Ballard and MAHLE to Collaborate on Fuel Cell Propulsion Systems for Heavy- and Medium-Duty Trucks

PR Newswire

VANCOUVER, BC and STUTTGART, Germany, Sept. 28, 2020

VANCOUVER, BC and STUTTGART, Germany, Sept. 28, 2020 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced an agreement to collaborate with MAHLE, a leading international development partner and Tier 1 supplier to the commercial vehicle and automotive industry, on the development and commercialization of zero-emission fuel cell systems to provide primary propulsion power in various classes of commercial trucks.

Founded in Germany in 1920 and celebrating its 100-year anniversary, today the MAHLE Group employs approximately 77,000 people working at 160 production locations and 16 research and development centers around the globe and generates annual sales of approximately €12 billion (numbers referring to the business year 2019). MAHLE's commercial vehicle division supplies a broad range of products to truck and other OEMs, including power cells, valves and camshafts, engine cooling components, fuel and oil management systems, electronics and mechatronics. MAHLE components are present in half of all the vehicles on the world's roads.

MAHLE has been a series supplier for fuel cell vehicles for over a decade. The technology group holds a particularly strong position in the complex air intake system and in the temperature control of fuel cell systems, as well as air filter solutions for fuel cells. MAHLE has brought together its fuel cell activities in a project house, where one area of focus is the development of components for fuel cell systems in commercial vehicles.

Dr. Jörg Stratmann, Chairman and CEO of MAHLE said, "Hydrogen and fuel cells are a cornerstone of CO2-neutral mobility, particularly with regard to road transport. This collaboration brings together MAHLE's strength in the automotive Tier 1 value chain and our vast expertise in the fuel cell periphery with Ballard's industry leadership in PEM fuel cell technology and systems."

Randy MacEwen, Ballard CEO noted, "We are excited to be working with MAHLE, a global leader in automotive product supply, service and support. Together with Ballard's experience powering vehicles for over 50 million kilometers, our unparalleled proven product durability, and our intellectual property and know-how around high-power density fuel cell stacks, we are very confident in our ability to effectively address the $100 billion annual total addressable market for commercial truck engines. With our shared vision on the role of fuel cell technology to decarbonize heavy-duty trucks and our complementary capabilities, we expect this collaboration with MAHLE to result in development and commercialization of winning fuel cell engines for customers in the truck engine market in Europe and beyond, at a time where policies are mandating zero-emission powertrain solutions."

During the initial development phase, Ballard has prime responsibility for system design and the fuel cell stack sub-system, while MAHLE's scope of responsibility includes balance-of-plant components, thermal management and power electronics for the complete fuel cell system, or engine, as well as system assembly. MAHLE brings a number of key attributes to the collaboration, including:

Extensive experience within the commercial truck value chain; Vast expertise in the field of peripheral fuel cell components; Supply chain muscle; High-volume production expertise; Long-standing relationships with multiple commercial truck, and other, OEMs; After-sales service infrastructure; andA highly respected global brand. The collaboration is subject to completion of definitive documents.

About MAHLE
MAHLE is a leading international development partner and supplier to the automotive industry. The technology group is committed to playing an active role in transforming the mobility of the future by further optimizing the combustion engine, driving forward the use of alternative fuels, and laying the foundation for the worldwide introduction of e-mobility and other alternative drives, such as fuel cells. The group's product portfolio addresses all the crucial aspects of the powertrain and air conditioning technology.

In 2019, MAHLE generated sales of approximately EUR 12.0 billion and is represented in over 30 countries with more than 77,000 employees in 160 production locations and 16 major research and development centers. (31.12.2019)