VANCOUVER, BC, July 8, 2021 /PRNewswire/ - Ballard Power Systems
(NASDAQ: BLDP) (TSX: BLDP) today announced that it has received a
purchase order for 15 of the Company's 70-kilowatt (kW)
FCmoveTM-HD fuel cell modules from Tata Motors ("Tata";
www.tatamotors.com), headquartered in Mumbai, India, to power 15 of Tata's
zero-emission Fuel Cell Electric Buses (FCEBs). Ballard plans to
complete delivery of all modules by 2022. The buses are planned for
deployment in Faridabad, the largest city in the National Capital
Region of Delhi.
Tata Motors is a multinational firm and is part of Tata Group.
It is India's largest manufacturer
of commercial vehicles and a leading bus manufacturer in
India, with revenue of
approximately $35 billion.
The 15 buses will be supplied by Tata to the Research &
Development Centre of Indian Oil Corporation Limited (IOCL). Tata
and IOCL will jointly study the potential of fuel cell technology
for commercial vehicles, including testing, maintenance and
operation of the FCEBs in real-world public transport conditions in
India's National Capital Region.
IOCL will also generate and dispense the hydrogen fuel to be used
by the Ballard modules in these buses.
"We are thrilled to be working again with Tata Motors on this
ground-breaking opportunity in India," noted Rob
Campbell, Ballard's Chief Commercial Officer. "Ballard has
unmatched experience powering buses in operation in many parts of
the world, where we have demonstrated industry-leading performance.
We are keen to engage with the largest commercial vehicle
manufacturer in India, a market
for which approximately 50,000 new buses are built annually."
Mr. Campbell added, "The FCmoveTM product is
Ballard's 8th-generation engine for transit buses and
reflects high performance, simplified design and reduced cost from
our prior generation product. As always, Ballard will work closely
with Tata to ensure seamless integration of our engine into its
FCEB design, along with the highest level of on-road
performance."
India's government and industry
are increasingly looking at hydrogen – and particularly green
hydrogen produced using renewable energy sources – as an
alternative fuel to combat pollution levels in the country. This
includes the National Capital Region, where winter months see
dangerous levels of polluted air. Moreover, a new energy transition
coalition called India H2
Alliance was recently formed by major industry players, with a
focus on commercializing hydrogen technologies and systems to
create net-zero carbon pathways in India.
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
market developments, 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.