Ballard announces purchase order to supply 200 fuel cell engines to New Flyer

Rhea-AI Summary

Ballard Power Systems has received a purchase order for 200 fuel cell engines from New Flyer, representing approximately 20 MW of power. This is the second order under their January 2024 long-term supply agreement, doubling the previous order of 100 engines. The engines, scheduled for delivery in 2025, will power New Flyer's Xcelsior CHARGE FC™ hydrogen fuel cell buses for deployment across multiple US states including California, Washington, Arizona, Nevada, and New York.

Positive

• Secured order for 200 fuel cell engines, double the size of previous order
• 20 MW total power capacity order for 2025 delivery
• Geographic expansion across multiple US states
• Strengthening of long-term supply agreement with major bus manufacturer

Negative

• None.

VANCOUVER, BC and WINNIPEG, MB, Nov. 4, 2024 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced a purchase order to supply 200 fuel cell engines to New Flyer, a subsidiary of NFI Group Inc. ("NFI"; TSX: NFI, OTC: NFYEF, TSX: NFI.DB; www.nfigroup.com), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions in North America and Europe.

The order of 200 fuel cell engines, representing a total of approximately 20 MW of power, is the second purchase order under the long-term supply agreement announced in January 2024, and double the first purchase order of 100 engines under this agreement. Delivery of the 200 engines is planned for 2025 and will power New Flyer's next generation Xcelsior CHARGE FC™ hydrogen fuel cell buses for deployment across the US, including California, Washington, Arizona, Nevada, and New York.

"We are thrilled to strengthen our partnership with Ballard and bring cutting-edge zero-emission fuel cell buses to the market," said David White, Executive Vice President, Supply Management, NFI. "As more transit operators transition to zero-emission fleets, they are increasingly adopting fuel cell technology to meet their goals. We are committed to supporting our customers through their journey to sustainability."

"We are very excited by the continued partnership with New Flyer and their growth in demand for fuel cell engines," said David Mucciacciaro, Ballard's Chief Commercial Officer. "This order demonstrates New Flyer's continued confidence in the performance of Ballard's fuel cell engines and the growing market interest in the value proposition of hydrogen fuel cell buses, including long range, rapid refueling times, performance in all weather conditions, and high availability."

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.

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SOURCE Ballard Power Systems Inc.

FAQ

How many fuel cell engines did Ballard (BLDP) sell to New Flyer in their latest order?

Ballard received a purchase order for 200 fuel cell engines from New Flyer, representing approximately 20 MW of power.

When will Ballard (BLDP) deliver the 200 fuel cell engines to New Flyer?

The delivery of the 200 fuel cell engines is planned for 2025.

Which US states will deploy New Flyer buses powered by Ballard (BLDP) fuel cells?

The hydrogen fuel cell buses will be deployed across California, Washington, Arizona, Nevada, and New York.

How does this order compare to Ballard's (BLDP) previous order from New Flyer?

This order of 200 engines is double the size of the first purchase order of 100 engines under their January 2024 supply agreement.