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Ballard Power Systems Inc
Symbol C : BLDP
Shares Issued 178,062,667
Close 2018-02-13 C$ 4.04
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Ballard to provide tech for 500 trucks in Shanghai

2018-02-14 02:31 ET - News Release

Mr. Randy MacEwen reports

BALLARD ANNOUNCES PLANNED DEPLOYMENT OF 500 FUEL CELL COMMERCIAL TRUCKS IN SHANGHAI

Ballard Power Systems Inc. has plans for the deployment of 500 licensed fuel cell electric commercial trucks -- all using Ballard fuel cell stack technology -- in Shanghai, China.

Each of the 500 Dongfeng special vehicle trucks is now licensed, plated and powered by a 30-kilowatt fuel cell engine that was designed and integrated by Shanghai Reinventing Fire Technology Company Ltd. (Re-Fire), featuring Ballard FCvelocity-9SSL proton exchange membrane (PEM) fuel cell stacks.

Each box van truck is manufactured by Dongfeng Special Vehicle Co. Ltd., measures 6.4 metres (21 feet) in length, can carry a load of 3.2 tons and has an expected range of more than 330 kilometres (205 miles). The trucks will be operated by Shanghai Sinotran New Energy Automobile Operation Co. Ltd., a newly established fuel cell electric vehicle operator, and are expected to be used primarily for intracity deliveries of goods.

Ballard and Re-Fire have entered into a collaboration agreement under which Re-Fire has agreed to use Ballard-designed fuel cell stacks in its fuel cell engines. Ballard's FCvelocity-9SSL stacks are now being manufactured and are available from Guangdong Synergy Ballard Hydrogen Power Co., Ltd., Ballard's joint venture in Yunfu, Guangdong province.

"Re-Fire has developed a leading position as a system integrator in the fast-moving Chinese fuel cell transportation market," said Randy MacEwen, Ballard president and chief executive officer. "We are pleased to be collaborating with Re-Fire as we drive market adoption of fuel cell electric vehicles or FCEVs, incorporating Ballard fuel cell technology. We believe this is the largest planned deployment of fuel-cell-powered trucks anywhere in the world. It is not surprising that this is happening in Shanghai given that city's leadership in the commercial adoption of FCEVs."

Robin Lin, Re-Fire chief executive officer, noted: "Fuel cell electric commercial trucks represent a large and attractive market opportunity in China, particularly where user requirements favour long range, heavy payloads and fast refuelling. Ballard is the premier global PEM fuel cell technology company, so using Ballard-designed fuel cell stacks in our engines was an easy decision."

Mr. Lin concluded: "With the integration work completed in late 2017, and all 500 commercial trucks having received green licence plates for new energy vehicles in Shanghai, we are now preparing for vehicle launch. We expect to deploy all 500 trucks in 2018, subject to parallel activities, including appropriate scaling of fuelling infrastructure and our service platform."

In 2017, the Science and Technology Commission of Shanghai, the Shanghai Municipal Commission of Economy and Information, and the Shanghai Municipal Development & Reform Commission launched the Shanghai fuel cell vehicle development plan, a groundbreaking plan calling for the annual production of 3,000 FCEVs by 2020.

Two recently constructed hydrogen refuelling stations are currently operating in Shanghai, with two additional stations planned for completion in the first half of 2018. As per the Shanghai fuel cell vehicle development plan, a total of five to 10 hydrogen fuelling stations are planned by 2020.

China is forecasted to account for approximately 42 per cent of global production of medium- and heavy-duty trucks in 2020, or approximately 1.1 million units, according to LMC Automotive.

About Ballard Power Systems Inc.

Ballard Power Systems provides clean energy products that reduce customer costs and risks, and helps customers solve difficult technical and business challenges in their fuel cell programs.

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