Ballard to provide fuel cell modules as member of H2Bus consortium

Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced that it is a founding member of the new H2Bus Consortium, whose members are working together to deploy 1,000 zero-emission fuel cell electric buses (FCEBs) and related infrastructure in European cities at commercially competitive rates.

An initial 600 FCEBs are being supported by a €40 million grant from the EU’s Connecting European Facilities program, with 200 buses to be deployed in each of Denmark, Latvia and the U.K. by 2023.

In addition to Ballard, H2Bus Consortium members include Everfuel, Wrightbus, Hexagon Composites, Nel Hydrogen, and Ryse Hydrogen, all leading players in the hydrogen fuel cell electric bus value chain. The H2Bus hydrogen fuel cell electric bus solution is expected to be the most cost effective true zero-emission option available, with a target single-decker bus price below €375,000, hydrogen cost between €5 and €7 per kilogram and bus service cost of €0.30 per kilometer. The zero-tailpipe emission feature of the FCEBs’ operation will be complemented by zero-emission hydrogen production from renewable energy sources, yielding a “well-to-wheels” emission-free transportation solution.

Randy MacEwen, Ballard President and CEO said, “The H2Bus consortium is a very exciting development in the deployment of zero-emission fuel cell electric buses across Europe. Together with the JIVE funding program, which targets the deployment of 291 FCEBs, we can expect to see approximately 1,300 European fuel cell transit buses in operation in the foreseeable future. Consortium members intend to provide the most affordable zero-emission bus and hydrogen fuelling solution in order to meet the increasing demand for clean public transportation in Europe’s largest cities.”

Wrightbus will integrate Ballard’s 8th-generation heavy duty power module – called FCmove™ – into H2Bus Consortium buses. FCmove™ products will be officially launched at the UITP Global Public Transport Summit, taking place June 9-12 in Stockholm, Sweden. FCmove™ products will deliver the performance and reduced total lifecycle cost required to meet the ambitious targets of the H2Bus Consortium and deliver an attractive economic value proposition to bus operators.

About Ballard Power Systems

Ballard Power Systems’ (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. The Company builds fuel cell products that reduce customer costs and risks, and helps customers solve difficult technical challenges or address new business opportunities.