VANCOUVER, BC, Nov. 6, 2023
/PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP)
announced today it received an order for 2.4 MW of additional fuel
cell engines from Canadian Pacific Kansas City ("CPKC"; TSX: CP;
NYSE: CP). These twelve, 200 kW fuel cell engines are planned for
delivery in 2023 and will support the development of CPKC's
additional hydrogen-powered locomotives planned for regular
switching and local freight service applications in Alberta.
The additional locomotives will be partially funded through the
Emissions Reduction Alberta ("ERA") program that helps the province
deliver on its environmental and economic goals and will in turn
support the decarbonization of rail transport by funding hydrogen
production and refueling infrastructure along with hydrogen-powered
locomotives.
Over the past two years, Ballard has supplied CPKC with 38 fuel
cell engines for use in its hydrogen locomotives, with combined
fuel cell power of 7.6 MW. The additional locomotives are expected
to enter service in late 2024.
"Our hydrogen locomotive program demonstrates our commitment to
reduce greenhouse gas emissions and we are pleased to continue to
work with the team at Ballard to implement effective alternative
fuel solutions," said Dr. Kyle
Mulligan, CPKC AVP Operations Technology.
"We are excited by CPKC's vision and action plan to demonstrate
and validate the use of hydrogen-powered locomotives to decarbonize
their locomotive fleet," said Seungsoo
Jung, Ballard's Vice President of Rail & Emerging
Markets. "This latest order demonstrates CPKC's continued progress
against this vision and plan, while also serving as another proof
point for the enabling role of Ballard's fuel cell engines in the
electrification of locomotive rail applications in North America."
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.
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SOURCE Ballard Power Systems Inc.