Ballard announces order for 6.4 MW to eCap Marine for Samskip vessels
Rhea-AI Summary
Ballard Power Systems (NASDAQ: BLDP) has secured a significant order to supply 6.4 MW of fuel cell engines to eCap Marine for integration into two Samskip vessels. The order comprises 32 FCwave™-200 kW engines that will power vessels operating between Norway and the Netherlands, marking one of the largest marine fuel cell engine orders in history.
The engines will be delivered in 2025 and 2026, building upon a collaboration that began in 2021. Notably, Ballard's FCwave™ is the first DNV type-approved fuel cell module for marine applications, and the project is supported by ENOVA, Norway's government agency for energy initiatives.
Positive
- Secured one of the largest marine fuel cell engine orders in history for 6.4 MW
- Expanding existing partnership with eCap Marine, demonstrating customer confidence
- FCwave™ holds distinction as world's first DNV type-approved fuel cell module for marine use
- Project backed by Norwegian government agency ENOVA, indicating strong institutional support
Negative
- None.
News Market Reaction
On the day this news was published, BLDP gained 5.15%, reflecting a notable positive market reaction. Argus tracked a peak move of +3.0% during that session. Our momentum scanner triggered 7 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $30M to the company's valuation, bringing the market cap to $612M at that time.
Data tracked by StockTitan Argus on the day of publication.
The 32 FCwave™-200 kW engines will be integrated into green marine propulsion systems by eCap Marine and power two vessels in Samskip's fleet to decarbonize routes between
"We're proud to expand our partnership with eCap Marine and Samskip with one of the largest marine fuel cell engine orders in history," said Marty Neese, President & CEO, Ballard Power Systems. "Deploying our fuel cell engines on these two Samskip vessels provides a critical validation point for the use of PEM fuel cell propulsion for maritime applications."
Lars Ravens, Managing Director of eCap Marine stated, "Our continued collaboration with Ballard is central to our mission to decarbonize marine transport. This latest order exemplifies our shared commitment to operational excellence and environmental stewardship. Together, we are delivering a clean propulsion solution that meets the rigorous demands of long-haul marine operations."
Ballard's FCwave™ is the world's first DNV type-approved fuel cell module for marine applications, ensuring compliance with international maritime safety and design standards. This order is supported by ENOVA,
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 enable 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.
About eCap Marine
eCap Marine, based in
eCap Marine specializes in both mobile and containerized power generation solutions, as well as fixed installations under deck, utilizing, for example, hydrogen and batteries. Their initial hydrogen project has been the retrofitting of an offshore supply vessel by designing and delivering a hydrogen generator (H2PowerPac) with integrated battery storage, and swappable hydrogen tanks—enabling the vessel zero-emission operations through the ecologically sensitive Wadden Sea.
Further Information
Ballard Power Systems:
Sumit Kundu –Investor Relations +1.604.453.3517 or investors@ballard.com
eCap Marine:
Josefin Klindt –Sales Manager +49 40 3562577512 or jkl@ecap-marine.com
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SOURCE Ballard Power Systems Inc.
FAQ
What is the size of Ballard Power's new marine fuel cell order from eCap Marine?
When will Ballard (BLDP) deliver the fuel cell engines for the Samskip vessels?
What routes will the Ballard-powered Samskip vessels operate?
What certification does Ballard's FCwave™ fuel cell module have?
Who is supporting the Ballard-eCap Marine fuel cell vessel project?
