- Ultra-high durability stack expected to enable significant cost
reduction in Class 3 lift trucks powered by fuel cells
VANCOUVER, Feb. 14, 2018 /CNW/ - Ballard Power Systems
(NASDAQ: BLDP; TSX: BLDP) today announced that it has signed a
Technology Solutions program with an unnamed strategic customer to
develop a next generation air-cooled fuel cell stack. The
multi-year program has an initial value to Ballard of approximately
$4.2 million.
A key objective of the Technology Solutions program is to design
and validate an ultra-high durability, high performance air-cooled
fuel cell stack for uses in a number of target market applications,
including certain material handling applications, with a target
operating lifetime of 20,000 hours. A key market opportunity will
be the integration of the next generation stacks into fuel cell
systems for class 3 lift trucks, such as pallet jacks, deployed in
high throughput distribution centers and warehouse operations.
Other potential applications include systems for stationary
continuous and backup power.
Dr. Kevin Colbow, Ballard Vice President – Technology and Product
Development said, "We are excited to win this innovative
development program with an important strategic partner. We believe
an air-cooled fuel cell stack with 20,000 hours of operating
lifetime in demanding operating conditions will be industry
leading. This next generation stack is expected to significantly
reduce the total cost of ownership for fuel-cell powered Class 3
lift trucks, thereby increasing the value proposition and
serviceable addressable market."
About Ballard Power Systems
Ballard Power Systems
(NASDAQ: BLDP; TSX: BLDP) provides clean energy products that
reduce customer costs and risks, and helps customers solve
difficult technical and business challenges in their fuel cell
programs. To learn more about Ballard, please visit
www.ballard.com.
This release contains forward-looking statements concerning
anticipated development results and impacts on our products. 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.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities. The Ballard
Common Shares have not been registered under the United States
Securities Act of 1933, as amended, or the securities laws of any
other jurisdiction and may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements.
SOURCE Ballard Power Systems Inc.