electric/hybrid

China

Ballard lands $17 million module deal for fuel cell buses in China

Ballard Power Systems has agreed a new long-term license and supply agreement in support of the deployment of 300 fuel-cell powered buses in China.
Ballard lands $17 million module deal for fuel cell buses in China

A signing ceremony was held in Ballard’s global headquarters last week where Ballard signed an agreement with Guangdong Synergy Hydrogen Power Technology Co., Ltd. (Synergy) to provide fuel cell power products and technology solutions for the deployment of the buses in the cities of Foshan and Yunfu. The deal is worth an estimated $17 million through 2016, with the opportunity for significant recurring royalties beginning in 2017. It includes the supply and sale of fully-assembled fuel cell power modules, ready-to-assemble module kits, a technology license for localisation of assembly, supply of proprietary fuel cell stacks and long-term recurring royalties leveraged to unit volumes of locally assembled modules.

The announcement follows Ballard’s June 2015 signing of definitive license and supply agreements with Synergy as well as with Nantong Zehe New Energy Technology Co, Ltd. (Zehe), valued at $10 million, for the delivery of FCvelocity-HD7 90kW net power modules, for use in 33 fuel cell buses to be deployed in the cities of Yunfu and Rugao, China.

The Company is developing two new configurations of the FCvelocity-HD7 power module, to deliver 30 kilowatts (kW) and 60 kW of net power, respectively, in addition to the 90 kW net power configuration. These two new module configurations are planned to be available for commercial deployment in 2016 and will be supplied to Synergy under the deal announced on Friday.

The modules have demonstrated exceptional reliability while clocking millions of kilometres on the road, principally in bus fleets. FCvelocity-HD7 is Ballard’s seventh-generation heavy duty module, offering a number of key advantages including enhanced performance, improved fuel efficiency, ability to operate in extreme conditions that include cold and hot, humid environments, a simplified and scalable design that enables the module to be integrated into multiple transportation applications and significant reductions in capital costs and maintenance costs.  

“We are thrilled to have Ballard selected as the exclusive supplier of fuel cell technology for the largest ever global deployment of fuel cell buses” said Randy MacEwen, Ballard President and CEO. “The Foshan and Yunfu governments are demonstrating strong vision and leadership by championing a collaboration model that addresses mass transit needs, supports air quality initiatives and contributes to continued economic development.”

Mr. Xu Guo, Vice Mayor of the City of Yunfu, added that the Cities of Foshan and Yunfu are moving into the future by adopting clean, quiet and economical fuel cell buses and are pleased to have agreed the deal with a strong consortium of partners, including Ballard, Synergy and Feichi Bus.”

Synergy selected Ballard on the basis of its flexible approach in developing a partnership model, along with its impressive technical solutions that address the unique needs and opportunities in the Chinese market. Foshan Automobile Transportation Group Co will be the first company in China to provide a fuel cell bus, representing a potential catalyst for the further advancement and adoption of these vehicles in the country.

The ceremony was also attended by senior representatives of the Canadian Federal Government as well as the British Columbia Provincial Government, including B.C. Minister of International Trade Teresa Wat. Further discussions regarding Ballard’s planned activities in the heavy-duty power market will take place during the Company’s Investor and Analyst Day, scheduled to be held on October 1, 2015 in New York City.

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Ballard Power Systems

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