VANCOUVER, BC, March 4,
2025 /CNW/ - Ballard Power Systems (NASDAQ:
BLDP) (TSX: BLDP) today announced a multi-year supply agreement
from Manufacturing Commercial Vehicles ('MCV', www.mcv-eg.com), a
leading commercial vehicle manufacturer based in Egypt, for fuel cell engines totaling
approximately 5 MW.
The supply agreement for 50 FCmove®-HD+ engines, and
initial order of 35 units, represents the continued growth of the
relationship with MCV which started in 2022 with fuel cell engine
integration support and the first fuel cell engine order placed in
2023. Deliveries of the 50 engines are expected between 2025 and
2026 and will initially support projects in the EU.
"We are delighted with this order and the continued engagement
with MCV," said Oben Uluc, Vice
President, Europe Sales & Marketing at Ballard. "In 2024 we
took in 1,600 bus engines orders across 7 OEMs, and this agreement
continues the momentum into 2025. As the fuel cell bus market
continues to mature, we look forward to the use of Ballard fuel
cell engines to decarbonize public transit across the globe."
Today, Ballard powers more than 1,800 fuel cell buses worldwide,
which have collectively logged over 200 million miles of
operational service. Ballard's fuel cell engines have demonstrated
a 99% availability rate and zero reported safety incidents and
offer an alternative to diesel engines without compromising on
routes, capacity, availability, or refueling times.
About Ballard Power Systems
Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to
deliver fuel cell power for a sustainable planet. Ballard
zero-emission PEM fuel cells are enabling electrification of
mobility, including buses, commercial trucks, trains, marine
vessels, and stationary power. To learn more about Ballard, please
visit www.ballard.com.
This release contains forward-looking statements concerning
anticipated product deliveries, customer deployments, and customer
benefits and market adoption of our products. 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.
Further Information
Ballard Power Systems:
Sumit Kundu – Manager, Investor
Relations & Finance +1.604.453.3517 or
investors@ballard.com
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SOURCE Ballard Power Systems Inc.
