Ballard announces largest order in company history

vancouver british columbia And Bolechowo, Poland, April 1, 2024 /CNW/ – Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced that it has entered into a long-term supply agreement (“LTSA”) with customer Solaris Bus. & coach sp. Z oo (“Solaris”; www.solarisbus.com), Europe’s leading bus manufacturer, will supply 1,000 hydrogen fuel cell engines to the European transit bus market by 2027.

LTSA will consolidate existing orders for approximately 300 fuel cell engines, add aftermarket and extended warranty services to such existing orders, and consolidate approximately 700 fuel cell engines and associated aftermarket extended warranty services. We are making a new commitment to provide additional supplies. This combined order is the largest fuel cell engine order in Ballard’s history and represents a significant step forward in our relationship with Solaris. Of the 1,000 units, approximately 80% will consist of FCmove.^®-HD 70kW and 20% FCmove^®The -HD+ 100 kW engine will serve both the 12 meter and 18 meter bus markets, with deliveries starting in 2024 and running until the end of 2027.

These engines are expected to be installed in buses around the world. Europe Solaris buses powered by Ballard fuel cell engines are currently operating in more than 22 European cities. Driven by policy tailwinds and regulations aimed at decarbonizing urban public transport, the transition to zero-emission city buses has accelerated in recent years as the value proposition of hydrogen fuel cells becomes better understood. – Enables zero emissions, rapid refueling and long range without impacting performance or duty cycle.

“This landmark agreement launches the next phase of the Ballard and Solaris partnership and accelerates the adoption of fuel cell buses. Europe“As the energy transition gains momentum, we are leveraging Ballard’s proven product performance.” Randy McEwen, President Ballard and Chief Executive Officer. “This LTSA is a testament to our more than 10-year collaboration with Solaris to provide safe, competitive and durable zero-emissions solutions to transportation operators around the world. Europe. As we move towards large-scale deployment of fuel cell buses, this is an important means to drive economies of scale and cost reduction efforts, improving economics and emissions for fleet operators. Facilitate volume reduction. ”

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“As the share of fuel cell vehicles in our production mix becomes increasingly important, we are excited to continue our collaboration with Ballard and make further progress in the rapidly growing European hydrogen fuel cell bus market. “Solaris has become a leader in the introduction of hydrogen technology into public transport” “We are an experienced partner for European operators. Over the past two years, we have received orders for over 500 more units.” Javier IriarteCEO of Solaris.

About Ballard Power Systems

Ballard Power Systems’ (NASDAQ: BLDP; TSX: BLDP) vision is to provide fuel cell power for a sustainable planet. Ballard’s zero-emission PEM fuel cells enable the electrification of mobility such as buses, commercial trucks, trains, ships, and stationary power sources. For more information about Ballard, please visit www.ballard.com.

This release contains forward-looking statements regarding anticipated product deliveries, customer deployment and market adoption. 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. Such forward-looking statements are based on Ballard’s assumptions regarding financial projections and expectations regarding product development efforts, manufacturing capabilities and market demand.

These statements include general economic and regulatory changes, adverse dependence on third parties, the Company’s successful achievement of its business plans, and the achievement and maintenance of profitability, which could cause Ballard’s actual results to differ materially. involve risks and uncertainties that may result. For more information on these and other risk factors that may affect Ballard’s future results, please refer to Ballard’s most recent annual information form. Readers should not place undue reliance on Ballard’s forward-looking statements, and Ballard undertakes no obligation to update or revise these forward-looking statements, except as required by applicable law. .

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SOURCE Ballard Power Systems Inc.

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