Ballard announces orders for 62 hydrogen fuel cell engines to power Solaris buses in Europe

Rhea-AI Summary

Ballard Power Systems has announced multiple purchase orders for 62 hydrogen fuel cell engines from Solaris Bus & Coach, a leading European bus manufacturer. The majority of the engines will be delivered in 2024 and will power buses in Germany and Poland. This order brings the total number of engines ordered by Solaris this year to close to 350, indicating significant growth in the fuel cell bus market.

VANCOUVER, BC and BOLECHOWO, Poland, Nov. 6, 2023 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced multiple purchase orders totaling 62 hydrogen fuel cell engines from long-standing customer Solaris Bus & Coach sp. z o.o. ("Solaris"; www.solarisbus.com), a leading European bus manufacturer deploying hydrogen-powered city buses across the continent. Ballard expects delivery of the majority of the fuel cell engines to occur in 2024.

The hydrogen fuel cell engines will power buses in Germany and Poland. The number of engines ordered by Solaris year-to-date is now close to 350, representing substantial growth over the more than 140 fuel cell city buses that Solaris has deployed with customers in Europe to date.

"The impressive order activity from Solaris give us confidence in our expectations that the current momentum in our bus vertical will continue into 2024," said David Mucciacciaro, Ballard Chief Commercial Officer. "The commercial traction of hydrogen-powered fuel cell buses in Europe proves the market increasingly understands fuel cell bus advantages including range, refueling time, similar operating practices as diesel, and scalable infrastructure." 

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 market adoption. 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.

FAQ

Who announced the purchase orders for hydrogen fuel cell engines?

Ballard Power Systems announced the purchase orders for hydrogen fuel cell engines.

How many hydrogen fuel cell engines were ordered?

A total of 62 hydrogen fuel cell engines were ordered.

Which company placed the purchase orders?

Solaris Bus & Coach placed the purchase orders.

What is the expected delivery timeline for the fuel cell engines?

The majority of the fuel cell engines will be delivered in 2024.

Where will the fuel cell engines be used?

The fuel cell engines will power buses in Germany and Poland.

How many engines has Solaris ordered this year?

Solaris has ordered close to 350 engines this year.

What does this order indicate about the fuel cell bus market?

This order reflects significant growth in the fuel cell bus market.