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Ballard Power Systems Inc
Symbol BLDP
Shares Issued 297,082,350
Close 2021-03-09 C$ 29.76
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Ballard to supply modules for CP's hydrogen locomotives

2021-03-09 16:42 ET - News Release

Mr. Randy MacEwen reports

BALLARD FUEL CELLS TO POWER CP HYDROGEN LOCOMOTIVE PROGRAM

Canadian Pacific Railway Ltd. will employ Ballard Power Systems Inc. fuel cell modules for CP's pioneering hydrogen locomotive program. The modules will provide a total of 1.2 megawatts of electricity to power the locomotive.

"With this purchase from Ballard, a leader in the hydrogen fuel cell industry, CP further demonstrates its commitment to developing the next generation of locomotive -- one that produces zero emissions," said CP president and chief executive officer Keith Creel. "How we power our trains matters to our customers, employees, shareholders and to the communities we operate in. This technology holds the possibility of eliminating emissions from freight train operations, which already represent the most efficient method of moving goods over land."

Through its hydrogen locomotive program, CP will develop North America's first hydrogen-powered line-haul freight locomotive by retrofitting a formerly diesel-powered locomotive with Ballard hydrogen fuel cells. The fuel cells will work with battery technology to power the locomotive's electric traction motors. Once operational, CP will conduct rail service trials and qualification testing to evaluate the technology's readiness for the freight-rail sector.

Ballard plans to deliver six of its 200-kilowatt fuel cell modules to CP in 2021. Ballard will provide support to enable integration of the modules into the locomotive.

Randy MacEwen, Ballard president and chief executive officer, noted: "We are excited to be working with CP, an industry leader in the North American rail sector. CP's hydrogen locomotive program will develop North America's first hydrogen and fuel-cell-powered line-haul freight locomotive. In addition to Ballard's work, focused on powering commuter trains in Europe and urban trams in China, CP's hydrogen locomotive program in North America underscores the strong fit for zero-emission fuel cells to power heavy- and medium-duty motive applications, including trains, for which it is otherwise difficult to abate emissions."

About Ballard Power Systems Inc.

Ballard Power Systems' 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, passenger cars and forklift trucks.

About Canadian Pacific Railway Ltd.

Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. CP provides North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise.

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