Montag, 05.06.2017 18:00 von PR Newswire | Aufrufe: 640

Ballard Awarded $18M Follow-On Deal With Broad-Ocean To Support Deployment of 400 Buses and Trucks in China

Ein Kenworth-Truck von Paccar. © typhoonski / iStock Editorial / Getty Images Plus / Getty Images

PR Newswire

VANCOUVER and ZHONGSHAN, China, June 5, 2017 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced that it has entered into an $18 million supply contract with Zhongshan Broad-Ocean Motor Co., Ltd. ("Broad-Ocean"; www.broad-ocean.com/en/index.html) to support the deployment of 400 FCveloCity® fuel cell engines integrated into clean energy buses and trucks in key Chinese cities.

The transaction is part of an ongoing program with Broad-Ocean to implement Ballard's leading fuel cell technology in support of China's ambitious plan to address environmental concerns and advance the adoption of zero-emission vehicles. The complementary addition of fuel cell systems effectively addresses the limitations of stand-alone battery solutions in certain use cases, resulting in growing demand for zero-emission and efficient propulsion systems that provide bus, truck and commercial vehicles with the traditional range and refueling times provided by legacy diesel solutions.

Randy MacEwen, Ballard President and CEO commented, "Today's announcement adds further momentum to our strategy in China's new energy transportation market. This deal provides another critical validation of the rapidly emerging market opportunity in China for the adoption of fuel cell technology to help solve environmental challenges, including air quality. With our strategic partner Broad-Ocean, we are positioning Ballard to successfully address this opportunity and scale our business, while driving down costs to support sustainable long-term demand." 

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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.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities.  The Ballard Common Shares have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

SOURCE Ballard Power Systems Inc.

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