VANCOUVER, BC and ATLANTA, Feb. 10,
2021 /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX:
BLDP) today announced that it has signed a non-binding Memorandum
of Understanding (MOU) with Chart Industries, Inc. ("Chart";
www.chartindustries.com; NYSE: GTLS) – a leading diversified global
manufacturer of highly engineered equipment for the industrial gas
and clean energy industries – for the joint development of
integrated system solutions that include a fuel cell engine with
onboard liquid hydrogen ("LH2") storage and vaporization for the
transportation industry, with a focus on heavy-duty applications
including buses, trucks, rail and marine vessels.
![Ballard Power Systems & Chart Industries (CNW Group/Ballard Power Systems Inc.) Ballard Power Systems & Chart Industries (CNW Group/Ballard Power Systems Inc.)](https://mma.prnewswire.com/media/1436827/Ballard_Power_Systems_Inc__Ballard_Signs_Joint_Development_Agree.jpg)
Both Ballard and Chart have provided hydrogen solutions and
equipment to industry for multiple decades (nearly 100 years in
total), including a very rapid increase in sales activity in 2020
and year-to-date 2021. This collaboration of two industry veterans
is targeted to enable accelerated adoption of hydrogen in
heavy-duty transport applications requiring long range, rapid
refueling and lowest total cost of ownership of the
vehicle.
Liquid hydrogen is well-suited for the transportation industry
as its higher density, lower pressure, and ease of filling via
liquid hydrogen pump contributes to the ability for larger mobile
equipment to travel longer distances, similar to what is possible
today with diesel fuel. As part of the development agreement –
- Chart will provide:
-
- Liquid hydrogen expertise from liquefaction plant to storage,
fueling & onboard tanks
- Extensive truck LNG tank experience
- An existing liquid hydrogen onboard vehicle tank prototype
design
- Fuel to vehicle connection / interface experience
- LH2 test lab in Minnesota,
United States
- Ballard will provide:
-
- Proton exchange membrane ("PEM") fuel cell technology
expertise
- PEM fuel cell stacks, modules and systems
- Fuel cell mobility experience with over 70m km of vehicle operation
- Market access to System Integrators and vehicle OEMs
- Fuel cell testing facilities in British Columbia, Canada and Denmark
"Given both of our companies' extensive experience in the Class
8 long haul truck, bus, rail and marine areas of transportation as
well as hydrogen, this combination of expertise will create a
unique, differentiated and cost-effective solution for
transportation customers as the industry moves to cleaner power,"
stated Jill Evanko, Chart's CEO and
President. "We are proud to partner with Ballard, a global
proven and focused leader in hydrogen."
Randy MacEwen, Ballard President and CEO added, "Chart
Industries is a strong partner for development of integrated and
optimized hydrogen solutions that include storage of liquid
hydrogen for our fuel cell engines. Together with Chart, we
intend to help simplify customers' buying decisions, regardless of
the specific Heavy-Duty Motive application being addressed."
About Chart Industries, Inc.
Chart Industries, Inc. is a leading independent global
manufacturer of highly engineered equipment servicing multiple
applications in the Energy and Industrial Gas markets. Our
unique product portfolio is used in every phase of the liquid gas
supply chain, including upfront engineering, service and
repair. Being at the forefront of the clean energy
transition, Chart is a leading provider of technology, equipment
and services related to liquefied natural gas, hydrogen, biogas and
CO2 Capture amongst other applications. We are committed to
excellence in environmental, social and corporate governance (ESG)
issues both for our company as well as our customers. With
over 25 global locations from the United
States to Asia,
Australia, India, Europe
and South America, we maintain
accountability and transparency to our team members, suppliers,
customers and communities. To learn more, visit
www.chartindustries.com.
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.
This release contains forward-looking statements concerning
anticipated product performance and other characteristics. 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.