VANCOUVER, BC and ISTANBUL, Aug. 3, 2023
/PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX:
BLDP) today announced the signing of a letter of intent (LOI) with
Ford Trucks to supply a fuel cell system as part of the development
of a hydrogen fuel cell powered vehicle prototype. The partnership
includes an initial purchase order for 2 FCmove™-XD 120 kW fuel
cell engines that are planned to be delivered by Ballard to Ford
Trucks in 2023.
Ford Trucks, the global brand of Ford Otosan, plans to develop a
Fuel Cell Electric Vehicle (FCEV) F-MAX as part of the project. The
120 kW FCmove-XDTM fuel cell engines are planned to be
integrated into Ford Trucks' F-MAX 44-ton long-haul tractor truck.
Ford Trucks plans to build and assemble the fuel cell-powered F-MAX
in Turkey and aims to commence
European Ten-T corridor demonstrations in 2025 as part of the
European Union's Horizon Europe ZEFES (Zero Emission Freight
EcoSystem) project goals. As per the LOI, upon the successful
completion of the development program and subject to certain other
conditions, Ballard may be named as the preferred supplier for the
serial production of the fuel cell-powered F-MAX.
In the ZEFES project, four truck OEMs, two trailer OEMs,
suppliers, logistic operators, and research partners will work
together towards the overall goal of accelerating the integration
of ZEVs for long distance heavy transport. This work plans to focus
on efficiency improvements, mass production capabilities, and
demonstrating the use of the technologies in daily operations. In
2025, nine different vehicle concepts (four FCEV and five BEV) are
expected to run over 1 million kilometers across EU corridors in
real daily operations, guided and validated by a digital platform
(to be developed within the project). This project is expected to
be a significant step forward for ZEV adoption in the freight
transport ecosystem. Vehicles are expected to carry over 40 tonnes
for distances up to 750 km, averaging 500 km in daily
operation.
"We are thrilled to be partnering with Ford Trucks to facilitate
market adoption in Europe. We look
forward to validating Ballard as their preferred fuel cell supplier
and to support the integration of their heavy-duty truck platform,"
said David Mucciacciaro, Ballard
Chief Commercial Officer. "Ford Trucks is an important 'platform'
win for Ballard and a key partner for our high growth potential
truck vertical. We are excited by their ambition towards scaled
deployments of F-MAX fuel cell trucks. Our FCmove-XDTM
is an outstanding match for the range, refueling, payload, and
packaging requirements of long-haul tractor customers."
"At Ford Trucks, we invest in alternative technologies that will
define the automobile industry's future in accordance with our
sustainability aims. Electrification, followed by hydrogen
technology, is one of our top priorities. Our first Fuel Cell
Electric-powered Vehicle F-MAX, which we will develop as part of
the ZEFES project, will be a significant milestone. We are thrilled
to be working with Ballard on this critical project. This long-term
relationship will generate enormous value in the future. We have a
wide range of promising technological talents and capabilities, and
our work is progressing quickly and successfully. As Ford Trucks,
we will continue to pioneer future sustainable transportation
technologies with R&D investments," said Ford Trucks' Vice
President Emrah Duman.
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 performance and other characteristics, product
deliveries and deployments. 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 Ford Trucks
Ford's only heavy commercial brand, Ford Trucks produces a range
of vehicles including tractors, construction trucks and
distribution trucks weighing over 16 tons. Our '2019 International
Truck of the Year (IToY)' award-winning F-MAX has brought critical
acclaim and high global demand. Ford commercial vehicles' proven
track record of quality, durability and efficiency underpins Ford
Trucks' international product strategy based on the best total cost
of ownership promise. At Ford Trucks, we combine more than half a
century of design and production experience with expertise in
market-specific product development, to engineer the main
components of our vehicles, including the all-new engines. We
currently operate across Europe,
the Middle East, Africa and the CIS, and continue to grow our
international network in 3 continents. Hundreds of thousands of
trucks all around the world set out each and every day with the
confidence that Ford provides. For more information about Ford
Trucks and its products worldwide, please visit
www.fordtrucksglobal.com.
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SOURCE Ballard Power Systems Inc.